Private equity firm Ardian has teamed up with FiveT Hydrogen to create a new joint venture to launch a €1.5 billion fund focused on clean hydrogen infrastructure.
The Hy24 JV is set to be the largest clean hydrogen infrastructure manager and has already gathered €800 million in capital commitments for the new fund. Anchor investors include Air Liquide, TotalEnergies and VINCI, committing €100 million each. Former cornerstone FiveT Hydrogen investors -- Plug Power, Chart Industries and Baker Hughes -- are also anchor investors in the fund.
Asian industrial group LOTTE Chemical will also be an anchor . . .
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