TotalEnergies, Air Liquide, VINCI creates hydrogen infrastructure fund

By Energy Connects

Oct 03, 2021

Hydrogen is considered as a key player in energy transition.

TotalEnergies SE, Air Liquide SA and Vinci SA said will contribute 100 million euros (US $116 million) each to a fund created by Ardian SAS and FiveT Hydrogen that aims to invest 1.5 billion euros in clean hydrogen infrastructure, the companies claim these will be the world’s largest “clean hydrogen” fund.

“Clean, renewable hydrogen will play a key role in the energy transition, and TotalEnergies wants to be a pioneer in its mass production,” said chief executive Patrick Pouyanne in a statement.

“We are currently working on several projects, notably to decarbonise the grey hydrogen used in our European refineries by 2030. We are convinced that a collective effort is needed to kick-start the hydrogen sector and take it to scale," he added.

The companies said that the clean hydrogen infrastructure fund will invest in the "entire value chain of renewable and low carbon hydrogen." The investment will take place in the Americas, Asia and Europe.

According to the companies, along with the announced support of public policies,some use of debt financing, the fund will contribute to the development of hydrogen projects with a total value of about 15 billion euros.

U.S. energy groups Plug Power Inc., Chart Industries Inc. and Baker Hughes Co. are investing in the fund. So are French insurer Axa SA and Korean petrochemical producer Lotte Chemical Corp. who will join as anchor investors, Hy24 said.

The fund has now 800 million euros of commitment.