Total, Air Liquide Invest in $1.7 Billion Green Hydrogen Fund
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.
U.S. energy groups Plug Power Inc., Chart Industries Inc. and Baker Hughes Co. are also investing in the fund. Including the pledges from TotalEnergies, industrial gas producer Air Liquide and construction group Vinci, Hy24 now has 800 million euros of commitment.
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