PARIS & ZURICH – (COMMERCIAL THREAD) – Ardian, a leading private investment company in the world, through its infrastructure business, and FiveT Hydrogen, an investment platform promoting clean hydrogen, today announced a partnership to create Hy241, a 50/50 joint venture. Hy24 will become the world’s largest investment platform focused on clean hydrogen infrastructure, designed to invest in projects critical to global decarbonization.

Hy24 is targeting 1.5 billion euros for its first fund, making the platform the largest manager of clean hydrogen infrastructure in the sector. Of this amount, 800 million euros have already been committed by a leading group of industrial and financial investors active in clean hydrogen. The fund is the result of separate initiatives by two groups of investors:

  • Air Liquide, TotalEnergies and VINCI, all fully committed to the development of low-carbon and renewable hydrogen, each having committed to invest € 100 million each as anchor investors.

  • Plug Power, Chart Industries and Baker Hughes (as former key investors in FiveT Hydrogen), who also join as key investors.

LOTTE Chemical, a large Asian industrial group, has also confirmed its intention to join it as a benchmark investor, as has AXA, a major institutional investor. Other major international industrial players, all strongly committed to carbon neutrality, also intend to join the initiative. These include: Groupe ADP, Ballard, EDF and Schaeffler. Others are expected soon.

The international tender process to select Hy24 and hire industrial investors was organized by Société Générale.

Hy24 plans to bring together other international institutional investors and industrial companies to provide investment capacity and scale to hydrogen projects around the world.

Hy24 combines Ardian’s expertise in infrastructure investment and asset management capabilities with the extensive access and experience of FiveT Hydrogen with the hydrogen value chain. The combination will create the largest and most credible partner of energy giants and investors looking to play a role in accelerating the construction of hydrogen infrastructure. It responds to the huge demand from governments, businesses and investors to invest in hydrogen to meet global climate goals. Recent analysis2 indicates that up to $ 100,000 billion in hydrogen investments will be needed to meet the net zero targets by 2050.

Hy24’s first fund will be set up and managed as an impact fund with the aim of reducing global carbon emissions, in accordance with Article 9 of the SFDR Regulation. It will adapt proven technologies to mature infrastructure assets generating predictable cash flow, providing investors with unparalleled access to a new asset class that has the potential to keep pace with the growth of renewables. The portfolio will be diversified across geographic regions (Europe, Americas and Asia) and value chains, from upstream projects such as the production of green hydrogen, to downstream projects such as the captive fleet and refueling stations. The opportunity for value creation is important: job creation and decarbonization, especially in sectors that are difficult to cut down.

Mathias Burghardt, Head of Ardian Infrastructure and Member of Ardian’s Executive Committee, said: “We are proud to have been chosen by some of the world’s leading industry players and investors to lead this initiative. At a time when the European Union announces a rise in its climate ambitions, and on the eve of COP26, it is a great responsibility to lead such a platform. We were the first to support the renewable energy market, our platform now reaching 7.5 GW of heat and renewable capacity, and it is clear to us that hydrogen faces a similar trajectory. This collaborative partnership fits perfectly into the functioning of Ardian Infrastructure. We are confident that Hy24 will be able to play a leading role in accelerating the scale-up of the hydrogen needed to decarbonize our economies. ”

Pierre-Etienne Franc, co-founder and CEO of FiveT Hydrogen, said: “This is a big step forward for FiveT Hydrogen. Through this unique partnership, we plan to mobilize 15 billion euros of investment as a catalyst for the rapid development of the industry. The world urgently needs to accelerate the energy transition and reduce carbon production in energy-intensive and hard-to-reduce sectors such as transport and industrial production. With Ardian, and with the ambitious support of our industrial LPs, we are well positioned to do this, combining a unique set of skills and experience. ”

Hy24’s executive committee is made up of Laurent Fayollas (Chairman), Pierre-Etienne Franc (CEO), Amir Sharifi (Chief Investment Officer), Nicolas Brahy (Legal, Public Affairs and ESG Director) and Sébastien Paillat (Managing Director, Investments) . A recruitment process is underway to set up a dedicated global team operating in four countries: France, Switzerland, the United States and Singapore.

ABOUT HY24

Hy24 was created by Ardian and FiveT Hydrogen to manage the first large global investment platform exclusively dedicated to hydrogen infrastructure solutions, resulting from an initiative launched by industrial champions: Air Liquide, TotalEnergies, VINCI Concessions, Plug Power, Baker Hughes and Chart Industries and joined by AXA, a major institutional investor. With strong industrial expertise, the platform will have a unique capacity to accelerate the ramp-up of hydrogen solutions throughout the value chain: production, conversion, storage and supply and use. The platform will support large strategic and early stage projects to become critical energy infrastructure.

hy24partners.com

ABOUT ARDIAN

Ardian is a leading private investment firm with US $ 114 billion in assets managed or advised in Europe, America and Asia. The company is majority owned by its employees. It keeps entrepreneurship at the heart of its concerns and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared results for all stakeholders, Ardian’s activities fuel the growth of individuals, businesses and the economy around the world. Faithful to its core values ​​of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 750 employees working in fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas. (New York, San Francisco and Santiago) and in Asia (Beijing, Singapore, Tokyo and Seoul). She manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: funds of funds, direct funds, infrastructure, real estate and private debt.

www.ardian.com

ABOUT FIVE T HYDROGEN

FiveT Hydrogen is the world’s leading outright private equity and asset management platform. Its mission is to enable the foundation of the hydrogen economy through the development of various major hydrogen investment initiatives, starting with infrastructure and this Clean H2 Fund jointly developed now within Hy24, with ARDIAN. FiveT Hydrogen was started by an experienced team of world-class hydrogen and finance executives and are dedicated to enabling the hydrogen economy to realize its full potential. We believe that clean hydrogen – an energy carrier created with near zero carbon emissions – will transform and decarbonize the global economy, creating an opportunity for material value creation.

https://fivet.com/fivet-hydrogen

1 The platform will be operational later in 2021, subject to AIFM accreditation by the French Market Authority (AMF) and the finalization of legal documentation with all partners. The Alternative Investment Fund Managers Directive (AIFM) provides a regulatory framework for alternative investment fund managers in Europe.

2 Including BloombergNEF (New Energy Outlook)