TotalEnergies SE (NYSE: TTE) disclosed that it has joined forces with Air Liquide, and VINCI and other large international enterprises to support the formation of the world’s largest fund solely devoted to clean hydrogen infrastructure solutions. The clean hydrogen infrastructure fund will spend on the whole value chain of renewable and low carbon hydrogen, in the most favorable regions in the Americas, Asia, and Europe.
It has been revealed that TotalEnergies, Air Liquide, and VINCI Concessions have been at the lead of establishing and amassing obligations towards this clean hydrogen infrastructure fund. As anchor partners, entirely committed to low carbon and renewable hydrogen development, each has promised to invest 100 million euros.
Furthermore, the largest infrastructure fund is seeking to get to the 1.5 billion euros and has already won initial commitments of 800 million euros. Its goal is to speed up the growth of the clean hydrogen ecosystem through investment in large strategic projects and exploiting the alliance of industrial and financial players.
In addition, the largest fund will make the investment as a partner, together with other main project developers and/or industry players, in large upstream and downstream clean hydrogen projects. Total obligations to the fund have already reached 800 million euros out of a target of around 1.5 billion euros at the signature.
LOTTE Chemical has also reaffirmed its plan to take part in the fund as an anchor investor and is the first Asian firm to join. The fund anticipates inviting further investments from large financial players, with AXA as an anchor investor. Presently, international communities are trying to achieve carbon neutrality and this fund is the best way to achieve the goal.