Ardian, a private investment house, via its infrastructure business, and FiveT Hydrogen, a clean-hydrogen enabling investment platform, has formed a partnership to create Hy24, an equally owned joint venture. Hy24 will become an investment platform focused on clean hydrogen infrastructure, designed to invest in projects that are critical to global decarbonization.

Mathias Burghardt, head of Ardian Infrastructure and member of Ardian’s executive committee, said, “We are proud to have been chosen by some of the world’s leading industrial players and investors to lead this initiative. At a time when the European Union has announced a step-up in its climate ambitions, and just ahead of COP26, it is a great responsibility to lead such a platform. We were early backers of the renewables market, our platform reaching 7.5GW of heat and renewable capacity today, and it is clear to us that hydrogen is facing a similar trajectory. This collaborative partnership is exactly in line with how Ardian Infrastructure operates. We are confident that Hy24 will be able to play a leading role in accelerating the hydrogen scale-up needed to decarbonize our economies.”

Pierre-Etienne Franc, co-founder and CEO of FiveT Hydrogen, said, “This is a great step forward for FiveT Hydrogen. Via this unique partnership, we expect to mobilize €15bn worth of investments as a catalyst for scaling up the industry at pace. The world urgently needs to accelerate the energy transition and reduce the carbon output of energy intensive, hard-to-abate sectors like transport and industrial production. Together with Ardian, and with the ambitious backing of our industrial LPs, we are well-placed to do this, combining a unique skill set and track record.”