Airbus says its involvement in the fund, which sets out to provide financial capital to back credible, large-scale green hydrogen infrastructure projects globally, assures its commitment to scaling the global hydrogen economy.
The Hy24 fund was launched in 2021 with a goal of raising €1.5bn ($1.52bn) to support hydrogen infrastructure project developments and players in the market.
With plans of bringing a zero-emission commercial aircraft into service by 2035, Airbus has said by investing in such funds, complementary access to direct partnerships to shape the new energy ecosystem can be offered.
Karine Guenan, Vice-President of ZEROe Ecosystem at Airbus, said, “Since 2020, Airbus has partnered with numerous airlines, airports, energy providers and industry partners to develop a stepped approach to global hydrogen availability.
“Joining a fund of this magnitude demonstrates Airbus’ continuously active role in infrastructure investments for the production, storage and distribution of clean hydrogen worldwide.”
Airbus also on Thursday (July 21) revealed plans to study contrails produce by hydrogen combustion engines as it seeks to develop hydrogen-powered flight technology.
Pierre-Etienne Franc, CEO of Hy24, commented, “We are delighted that Airbus has joined the fund along with other key industrial and financial investors. Hy24 is well-positioned to identify and accelerate the development of clean hydrogen infrastructure companies to meet today’s needs and ensure tomorrow’s transportation and logistics.”
Last Friday (July 15), Alejandro Perellón, Investment Director at Hy24, told H2 View’s North America Hydrogen Summit, “There’s a lot that needs to be done in this sector. We’re big believers that you can only do that by working together with other groups and forming coalitions.”
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