A fund backed by global companies and financial institutions including TotalEnergies, Baker Hughes and Axa has raised €2bn to invest in green hydrogen projects, as it seeks to tap into growing adoption of the zero-carbon fuel.The amount raised exceeds the €1.5bn target that Paris-based Hy24 had set when it launched in October. Hy24 is a joint fund between French private equity group Ardian and Zurich-based FiveT Hydrogen, an investment manager specialising in hydrogen investments.The fundraising reflects increasing investor interest in hydrogen, and comes weeks after fund manager Copenhagen Infrastructure Partners announced a €3bn close on its own clean hydrogen fund.Hy24’s fundraising drew investors including Airbus, Snam, Air Liquide, Japanese trading house Itochu and South Korean group Lotte Chemical. Financial institutions such as Société Générale, BBVA and the…
Hydrogen fund Hy24 raises €2bn as investors seek to tap clean energy shift
