Hy24 closes pure-play hydrogen fund at €2bn

Fund manager aims to deploy capital within six years with a focus on investments in mobility sector

The world’s largest fund dedicated to investment in clean hydrogen infrastructure has closed to new investors after raising €2bn ($1.93bn) from more than 50 industrial and financial companies over the last 12 months. The final total raised by the Clean H2 Infra Fund is about €500mn more than previously forecast by the fund’s manager, Hy24—a joint venture between French asset manager Ardian and investment firm FiveT Hydrogen. “Hy24, through the Clean H2 Infra Fund, has rapidly gathered an impressive group of industrial and financial leaders committed to moving the hydrogen agenda forward significantly,” says Pierre-Etienne Franc, co-founder and CEO of Hy24. “With €2bn of commitments, this fun