H2 View understands, it is hoped the investments will facilitate the deployment of up to €20bn in assets for the hydrogen industry over the next six years.

Leveraging on a blend of sector know-how and financial fire power, having attracted over 50 investors from 13 countries across the Americas, Europe, and Asia, Hy24 believes it is positioned as a true catalyst at the heart of the hydrogen ecosystem.

Supported by founding investors, Air Liquide, VINCI Concessions, TotalEnergies, Plug Power, Chat Industries, and Baker Hughs, the impact fund has attracted further industrial investors such as Lotte Chemical, Airbus, Snam, Enagás, GRTgaz.

Read more: ‘World’s largest’ clean hydrogen infrastructure fund launched by hydrogen heavyweights

Additionally, the fund has been backed by financial anchors including AXA, Crédit Agricole Assurances, CCR, Allianz, CDPQ, and JBIC, as well as other investors with the likes Ballard, Schaeffler, Groupe ADP, EDF, Caisse de dépôts, DBJ, and Itochu.

H2 View understands the fund has closed with a new key industrial investor, CMA CGM Group, and new key financial backing from Border to Coast Pensions Partnership, Nuveen, ERAFP, Groupama, Société Générale Assurances, BBVA, and Norinchukin.

Pierre-Etienne Franc, co-founder and CEO of Hy24, said, “Hy24, through the Clean H2 Infra Fund, has rapidly gathered an impressive group of industrial and financial leaders committed to moving the hydrogen agenda forward significantly.

“With €2bn of commitments, this fund will spur on the deployment of up to €20bn in assets of strategic value to the industry in the next six years, performing for our investors and helping to decarbonise the global economy. This creates the right support for the new and critical hydrogen policy frameworks in our key geographies.”

Laurent Fayollas, Deputy Head of Infrastructure at Aradian and President of Hy24, added, “We are extremely grateful for the trust and support of our investors. The combination of Ardian’s unique investment and asset management expertise, FiveT Hydrogen’s industry knowledge, the diversity of our investors and our ability to leverage Hy24’s strong deal flow will put us in a unique position to grow this industry at scale into a decisive asset class.”