€1bn hydrogen infrastructure investment fund set for launch

Baker Hughes, Plug Power and Chart Industries commit €260mn and will provide expertise, with private investors targeted to make up the remainder

An investment fund aimed at raising €1bn ($1.2bn) from financial and industrial investors to finance projects in the production, storage and distribution of clean hydrogen is to launch later this week. The FiveT Hydrogen Fund will receive initial funding from fuel cell firm Plug Power €160mn, engineering firm Chart Industries €50mn and energy technology company Baker Hughes €50mn. The cornerstone investors will also help to guide the fund’s early stages of investment. The fund aim is to secure a further $740m exclusively from qualifying private investors. The fund will be led by Pierre-Etienne Franc, who was the vice president of hydrogen energy for industrial gases company Air Liquide and c