Hy2gen completes €200m funding round for green hydrogen plants

Written by: Samantha Payne |
Cyril Dufau-Sansot, CEO of Hy2gen
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Hy2gen AG has completed a €200m funding investment round to build plants that will produce green hydrogen for multiple industries including aviation.

The investment, which is the largest private investment in green hydrogen to date, is led by Hy24 with Mirova, Caisse de Depot et Placement du Quebec (CDPQ) and strategic investor, Technip Energies.

Hy24, the world’s largest clean hydrogen infrastructure platform, is a joint venture between Ardian, a world-leading private investment house, and FiveT Hydrogen, an investment manager specialising purely in clean hydrogen investments. The Clean H2 Infra Fund managed by Hy24 with €1bn raised, intends to unlock strategic and large-scale projects under development to accelerate the scaling up of hydrogen markets.

Hy2gen, a green hydrogen investment platform, is already working on plans to build six plants in Germany, Norway, France Canada and the US, requiring an overall investment of about €1.5bn, according to a report by Bloomberg.

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: “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.”

Hy2gen, founded in 2017, is a pioneer in the electrolysis of green hydrogen and its derivatives. The company is one of the leading players in the green hydrogen industry, with 880MW in planning and construction and a further 12GW of projects in development.

Raphaël Lance, Head of Mirova’s Energy Transition Infrastructure Funds said: “We are convinced that green hydrogen has a key role to play in the decarbonisation of the industry and are proud to partner with Hy2gen and support their ambition to become a key player in the deployment of this energy of the future.”

Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ, said: “CDPQ is delighted to take part in our first green hydrogen transaction alongside trailblazers of this promising vector of energy, one which has the potential to accelerate the decarbonisation of highly polluting industries.”

Arnaud Pieton, Chief Executive Officer of Technip Energies, stated: “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 concretization and acceleration of Hy2gen projects.”


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