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‘World’s first’ pure play clean hydrogen investment fund launched

A new clean hydrogen investment fund claimed to be the world’s first pure play fund of its kind has been launched.

FiveT Hydrogen will be dedicated to delivering clean hydrogen infrastructure projects at scale and will focus solely on ventures to produce, store and distribute clean hydrogen.

It will finance large projects in the production, storage and distribute of clean hydrogen primarily in the Organisation for Economic Co-operation and Development (OECD) countries and those with supportive policies, regulations and financial schemes in place enabling projects to be scaled profitably.

The Fund intends to raise a total of €1 billion (£0.87bn) from a combination of financial and industrial investors and will make largely minority co-investments into greenfield projects with key industrial players.

It is backed by alternative asset manager FiveT Capital and has already received combined commitment intentions of €260 million (£226m) from Plug Power, Chart Industries and Baker Hughes.

In addition, Francisco Fernandez, entrepreneur, founder and former CEO of Avaloq and a shareholder and member of the Board of Directors of FiveT Capital, is committing €30 million (£26m).

This commitment is part of a global FiveT Capital contribution to the Fund expected to reach up to 5% of the final Fund size.

Pierre-Etienne Franc, Co-Founder and CEO of FiveT Hydrogen said: “We firmly believe that clean hydrogen, an energy carrier created from low carbon sources, will help transform and decarbonise the world’s economy, addressing the global climate emergency and making a positive change to our planet for future generations. The Fund will serve as a catalyst for both the financing and building of global hydrogen infrastructure projects. We believe it creates the right investment platform to support existing and future hydrogen initiatives.

“The value-creation opportunity is huge. We want to deliver hydrogen energy infrastructure at scale and at pace. We will partner with the primary financial and strategic hydrogen players to do that. Being a first mover in the market means that our fund will have the agility and flexibility to identify the right projects and invest in the most compelling infrastructure assets of the future. This is expected to unlock superior, risk-adjusted returns for our investors.”

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