Regulatory News:
Air Liquide (Paris:AI), TotalEnergies and
VINCI, are combining forces with other large international
companies to sponsor the creation of the world’s largest fund
exclusively dedicated to clean hydrogen infrastructure solutions.
The fund aims to reach 1.5 billion euros and has already secured
initial commitments of 800 million euros. Its objective is to
accelerate the growth of the clean hydrogen ecosystem by investing
in large strategic projects and leveraging the alliance of
industrial and financial players.
The clean hydrogen infrastructure fund will invest in the
entire value chain of renewable and low carbon hydrogen, in the
most promising regions in the Americas, Asia and Europe. It will
invest as a partner, alongside other key project developers and/or
industry players, in large upstream and downstream clean hydrogen
projects. Total commitments to the fund have already reached 800
million euros out of a target of around 1.5 billion euros at
signature.
Air Liquide, TotalEnergies and VINCI Concessions have
been at the forefront of setting up and aggregating commitments to
this clean hydrogen infrastructure fund. As anchor partners,
fully committed to low carbon and renewable hydrogen development,
each has pledged to invest 100 million euros. The fund will be
managed by Hy241, a brand new 50/50 joint venture between
Ardian, a world-leading private investment house and
FiveT Hydrogen, a clean hydrogen enabling investment
platform. The choice of this fund manager allows to merge with
their similar initiative and to add Plug Power as an anchor
partner, as well as Chart Industries and Baker Hughes
joining together.
LOTTE Chemical has also confirmed its intention to
participate as anchor investor, and is the first Asian company to
join. The fund expects to attract further investments from large
financial players, with AXA as anchor investor. Large
international industrial players from North America and Europe,
which are strongly committed to carbon neutrality, also intend to
join the initiative as non-anchor partners, such as Groupe ADP,
Ballard, EDF, and Schaeffler.
With solid industrial expertise and significant investment
potential, the clean hydrogen infrastructure fund will have a
unique capacity to unlock large scale projects under development
and accelerate the scaling up of hydrogen markets. With the
announced support of public policies and some use of debt
financing, the fund should be able to contribute to the
development of hydrogen projects with a total value of about 15
billion euros.
As a pioneer in hydrogen for over 50 years, Air Liquide is
convinced that hydrogen is a cornerstone of the energy
transition. The Group is providing its unique expertise along
the entire value chain, using hydrogen as a clean energy carrier
for industrial processes and clean mobility. Benoît Potier,
Chairman and CEO of Air Liquide, declared: “Hydrogen has
become a central element of the energy transition. The time to act
is now, not only as companies on a stand-alone basis, but by
joining forces with states, other industrial groups and the
financial community. With the creation of this fund, we are
demonstrating our leadership to participate in a collective dynamic
to build momentum. As Air Liquide, we have already committed to
invest approximately 8 billion euros in the low-carbon hydrogen
supply chain by 2035. Our objective is to contribute to the
development of the entire value chain from low-carbon hydrogen
production to end-uses, investing in the necessary infrastructure
with storage and distribution projects. Accelerating on Hydrogen
development is key to mitigate climate change.”
As a broad energy Company, TotalEnergies’ ambition is to get
to net-zero emissions by 2050 together with society for its
global business across its production and energy products used by
its customers. Patrick Pouyanné, Chairman and CEO of
TotalEnergies, commented: “We believe that clean, renewable
hydrogen will play a key role in the energy transition, and
TotalEnergies wants to be a pioneer in its mass production. We are
currently working on several projects, notably to decarbonize 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. We are thus proud to launch
and invest in the Clean hydrogen infrastructure fund, which will
also give us privileged insights in the sector.”
A global player in concessions, construction and energy,
present in some 100 countries, VINCI is actively committed to Net
Zero Emission by implementing an ambitious environmental
policy. Its mission is to design, finance, build and operate
infrastructure and facilities that contribute to improving daily
life and mobility for everyone. Xavier Huillard, Chairman and
CEO of VINCI, declared: “VINCI is taking concrete action to
support the development of clean energy by mobilising all its
divisions in concessions, construction and energy, with the aim of
actively combating climate change and decarbonising mobility in
particular. By launching this investment fund today, hand in hand
with other major industrial leaders, we keep moving forward to make
green hydrogen a strong lever in achieving our objectives”.
The hydrogen economy is expected to be key in the fight
against climate change. Many countries have initiated
hydrogen-related regulations and support schemes to enable clean
hydrogen to help decarbonize their economies. Hydrogen offers a
solution to decarbonize industrial processes and the mobility
sector.
Subject to Hy24’s French Market Authority (AMF) accreditation as
an Alternative Investment Fund Manager (AIFM), the platform will be
operational in late 2021 and first closing is expected before the
end of the year.
About Air Liquide
A world leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 78 countries with
approximately 64,500 employees and serves more than 3.8 million
customers and patients. Oxygen, nitrogen and hydrogen are essential
small molecules for life, matter and energy. They embody Air
Liquide’s scientific territory and have been at the core of the
company’s activities since its creation in 1902.
Air Liquide’s ambition is to be a leader in its industry,
deliver long term performance and contribute to sustainability -
with a strong commitment to climate change and energy transition at
the heart of its strategy. The company’s customer-centric
transformation strategy aims at profitable, regular and responsible
growth over the long term. It relies on operational excellence,
selective investments, open innovation and a network organization
implemented by the Group worldwide. Through the commitment and
inventiveness of its people, Air Liquide leverages energy and
environment transition, changes in healthcare and digitization, and
delivers greater value to all its stakeholders.
Air Liquide’s revenue amounted to more than 20 billion euros in
2020. Air Liquide is listed on the Euronext Paris stock exchange
(compartment A) and belongs to the CAC 40, EURO STOXX 50 and
FTSE4Good indexes
For more information please visit: www.airliquide.com
About TotalEnergies
TotalEnergies is a broad energy company that produces and
markets energies on a global scale: oil and biofuels, natural gas
and green gases, renewables and electricity. Our 105,000 employees
are committed to energy that is ever more affordable, clean,
reliable and accessible to as many people as possible. Active in
more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
About VINCI
VINCI is a global player in concessions, construction and energy
businesses, employing more than 217,000 people in some 100
countries. We design, finance, build and operate infrastructure and
facilities that help improve daily life and mobility for all.
Because we believe in all-round performance, above and beyond
economic and financial results, we are committed to operating in an
environmentally and socially responsible manner. And because our
projects are in the public interest, we consider that reaching out
to all our stakeholders and engaging in dialogue with them is
essential in the conduct of our business activities. VINCI’s
ambition is to create long-term value for its customers,
shareholders, employees, partners and society in general.
www.vinci.com
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