February 17, 2022, marked a significant milestone in the hydrogen economy with Hy24, Mirova, CDPQ, and Technip Energies joining forces to make a “record largest” private investment in green hydrogen totalling €200m ($227m), the companies revealed.
With Hy2gen securing the funds through an investment round, the capital will be utilised to construct green hydrogen facilities in several geographies around the world in order to create e-fuels.
The hydrogen-based e-fuels are expected to be used across a range of sectors including maritime, ground transport, aviation, and industrial applications.
Hy2gen is an investment platform that grants opportunities to develop, finance, build and operate plants for the production of green hydrogen and hydrogen-based e-fuels worldwide.
The organisation has already started construction of its first plants in France, Norway, Canada, Germany, and the US.
By securing more capital, the organisation can now extend its reach across the globe and support the international hydrogen value chain granting more regions the clean energy carrier in order to decarbonise.
Cyril Dufau-Sansot, CEO of Hy2gen, said: “As early as 2021, we were looking for the best possible combination of financial and strategic investors to build e-fuel production facilities. These have the potential to decarbonise entire industries and transport sectors. We are now very pleased that all parties have sealed the largest investment in this segment.”
Pierre-Etienne Franc, CEO of Hy24, said: “The magic combination for success in Hydrogen scale up is sizable projects in strategic basins, strong stakeholder support from off-take to project financing and execution, and the leadership of expert teams for development and steering. This is what Hy2gen has successfully gathered around the table.
“This first investment made by our Clean H2 Fund allows Hy24 to step into its role as a catalyst for hydrogen-based projects at scale to foster the energy transition.”
Arnaud Pieton, CEO of Technip Energies said: “We are partnering and investing in Hy2gen, a first mover developer in the green hydrogen value chain. This will further strengthen our key market positioning in green hydrogen and its derivatives.
“This investment confirms the consistency of our partnership choices to deliver on our strategy. We look forward to contributing our engineering capabilities and our proven project delivery expertise to the concretisation and acceleration of Hy2gen projects.”
For more information visit hy2gen.com
