Hy24 is ccelerating the deployment of a global low-carbon hydrogen economy

Pierre-Etienne Franc resigns as Air Liquide’s VP of the hydrogen energy activities and joins forces with a Swiss partner to create FiveT Hydrogen. Three American players, Baker Hughes, Plug and Chart Industries support him to create a dedicated fund. 

— and for what will become Hy24. At the initiative of Amir Sharifi, then head of energy transition at Ardian, a hydrogen working group was set up at the end of 2020, to explore value creation opportunities for the group and its portfolio companies.

FiveT Hydrogen joins forces with Ardian, a world-leading private investment house, to create the world's first asset manager entirely dedicated to low-carbon hydrogen. Hy24 responds to the call from Air Liquide, TotalEnergies and VINCI in September 2020 for a dedicated hydrogen fund manager. 

Hy24 is chosen as general partner by Air Liquide, TotalEnergies and VINCI to take over the management of their hydrogen fund project. An initial investor base is established, including 3 US leaders Baker Hughes, Plug and Chart Industries. The first fund entirely dedicated to the deployment of critical hydrogen infrastructures worldwide is launched.

Laurent Fayollas becomes President of Hy24 and Pierre-Etienne Franc CEO. The newly created company has put together an international, cross-disciplinary team specializing in asset management, infrastructure, and the hydrogen industry, and publicly unveils its unique investment strategy. Global hydrogen momentum intensifies.

The commitment of industrial and financial players is unprecedented, and the fund dedicated to infrastructure quickly reaches its first billion in commitments. This first closing will enable the fund to quickly launch the first investments.

Hy24 announces 3 investments to support German-based project developer Hy2Gen and German hydrogen station network operator H2 Mobility. Hy24 joins forces with Spanish operator Enagas Renovable.

Hy24 organizes an event to celebrates the closing of its first fund gathering 50+ investors at the Bibliothèque nationale de France in Paris. Hy24 brings together a powerful ecosystem and aims to leverage nearly 20 billion euros with this first fund.

Hy24 partners with Danish developer and operator Everfuel.

With a market estimated at US$190 billion by 2030, Hy24's ambition is to enable the consolidation of equipment manufacturers and the commercialization of hydrogen technologies at scale. Guillaume Lesueur is appointed head of this strategy.

Hy24 supports project developers InterContinental Energy, based in Singapore, and the French player Elyse Energy, as well as the deployment of the world's first green steel mill, by investing in Swedish company H2 Green Steel.

The Abu Dhabi Future Energy Company PJSC – Masdar, one of the world’s leading renewable energy companies, and Hy24, sign a strategic joint development and investment framework agreement with a potential ambition of 2 billion euros to foster large-scale green hydrogen projects during the UN’s Climate Change Conference, COP28, in Dubai.

Hy24 unveils the outlines of its second strategy and supports the growth of Norwegian equipment manufacturer Hexagon Purus.

Investment through “Clean H2 Infra Fund” in HysetCo, French leader of integrated hydrogen mobility, which has developed a unique business model based on the deployment of both infrastructure (stations) and fleet (cabs and hydrogen-powered utility vehicles).