TotalEnergies, Air Liquide and VINCI are joining 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.
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».
TotalEnergies: towards clean hydrogen infrastructure
Benoît Potier, Chairman and CEO of Air Liquide, added: «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».
In particular, 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. The fund will be managed by Hy24, 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.
A joint venture in China for charging hubs and standalone stations
In addition to the agreement with Air Liquide and VINCI, TotalEnergies set a joint venture with China Three Gorges Corporation (CTG) in electric mobility in China. This equally owned company will develop electric vehicle high power charging infrastructure and services within the Hubei Province, through the installation and operation of more than 11,000 high power charge points by 2025.
This JV will build on TotalEnergies’ worldwide expertise in electric mobility and CTG strong capability in green energy production and supply. The two companies intend to develop co-branded high power charging hubs and standalone stations, open to the general public, equipped with 60 kW to 120 kW power charge points and with an average hosting capacity ranging between 20 to 50 vehicles each. The partners will also build dedicated charging stations on the premises of B2B customers, to meet their needs.