PW
Español

 

PW
Guyana
Surinam


PW
Trinidad

& Tobago
Caribbean

 

Prices
Graphics

 




Very usefull links



PW
Bookstore





Blogspots

The Global Barrel

Tiempo Culural

Gustavo Coronel

Iran Watch.org

Le Blog des
Energies Nouvelles

News Links

AP

AFP

Aljazeera

Dow Jones

Reuters

Bloomberg

Views and News
from
Norway

 

PW
Bookstore

 

 

 

Total, Air Liquide invest in $1.7billion green hydrogen fund

 

 

 

 

 


By Francois de Beaupuy / Bloomberg News

PARIS
Petroleumworld 10 01 2021

TotalEnergies SE, Air Liquide SA and Vinci SA pledged to contribute 100 million euros ($116 million) each to a fund created by Ardian SAS and FiveT Hydrogen that aims to invest 1.5 billion euros in clean hydrogen infrastructure.

The commitments are the latest sign of the growing interest in the carbon-free fuel. Nations have pledged tens of billions of dollars of subsidies to bring down the cost of producing hydrogen with renewable energy -- called green hydrogen -- instead of the “grey” variety that’s made with fossil fuels, as part of plans to eliminate emissions.

“Clean, renewable hydrogen will play a key role in the energy transition, and TotalEnergies wants to be a pioneer in its mass production,” the company’s Chief Executive Officer Patrick Pouyanne said in a statement Friday. “We are currently working on several projects, notably to decarbonize the grey hydrogen used in our European refineries by 2030.”

The fund will be managed by Hy24, a joint venture created by Ardian and FiveT Hydrogen, the asset managers said in a separate statement Friday. It will take “strong,” but minority stakes in projects such as large electrolyzers producing green hydrogen, ammonia or methanol, as well as fleets of taxis and trucks using hydrogen and refueling stations, Pierre-Etienne Franc, CEO of FiveT Hydrogen, said in an interview. It plans to invest in about 30 projects over the next five years, spread across Europe, Asia and the Americas.

U.S. energy groups Plug Power Inc., Chart Industries Inc. and Baker Hughes Co. are also investing in the fund, and French insurer Axa SA and Korean petrochemical producer Lotte Chemical Corp. will join as anchor investors, Hy24 said. Including the pledges from TotalEnergies, industrial gas producer Air Liquide and construction group Vinci, Hy24 now has 800 million euros of commitment.

The international tender process to select Hy24 to manage the fund, and to bring in other investors was arranged by Societe Generale.

____________________

TOP

                                                                                                                                                                                                                                                                                                                                                                                             Contact: editor@petroleumworld.com,


Editor & Publisher:Elio Ohep /
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2021, Elio Ohep A. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2021, Petroleumworld   / Elio Ohep - All rights reserved

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.