Hy24 closes €2bn Clean H2 Infra fund

Fund manager Hy24 on October 10 announced the closing of its €2bn ($1.94bn) Clean H2 Infra fund that will invest exclusively in the entire clean hydrogen value chain.

Hy24 is a joint venture between FiveT Hydrogen, the clean hydrogen-enabling investment partner, and Ardian, a private investment house.

The €2bn fund has participated in the €110mn fundraising of H2 Mobility Deutschland, the operator of Europe’s largest network of hydrogen stations. In addition, the fund has participated in the €200mn financing round of Hy2Gen, an operator of production sites for decarbonised hydrogen and its derivatives, with CDPQ as a co-investor. The fund has also acquired a 30% stake in Enagas Renovable, a developer of renewable hydrogen projects.

Hy24 said it aims to mobilise up to €20bn of investment capacity over the next six years. The portfolio will be diversified across geographies and value chains, upstream and downstream, to scale up the clean hydrogen economy, it said.