REG-TotalEnergies SE TotalEnergies, Air Liquide, VINCI and a Group of International Companies Launch the World’s Largest Clean Hydrogen Infrastructure Fund

TotalEnergies SEAnnouncement

01/10/2021 07:30

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TotalEnergies, Air Liquide, VINCI and a Group of International Companies
Launch the World’s Largest Clean Hydrogen Infrastructure Fund

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), Air Liquide, and VINCI, are
combining forces with other large international companies to sponsor the
creation of the world’s largest fund exclusively dedicated to clean hydrogen
infrastructure solutions. The fund aims to reach 1.5 billion euros and has
already secured initial commitments of 800 million euros. Its objective is to
accelerate the growth of the clean hydrogen ecosystem by investing in large
strategic projects and leveraging the alliance of industrial and financial
players.

The clean hydrogen infrastructure fund will invest in the entire value chain
of renewable and low carbon hydrogen, in the most promising regions in the
Americas, Asia and Europe. It will invest as a partner, alongside other key
project developers and/or industry players, in large upstream and downstream
clean hydrogen projects. Total commitments to the fund have already reached
800 million euros out of a target of around 1.5 billion euros at signature.

TotalEnergies, Air Liquide, and VINCI Concessions have been at the forefront
of setting up and aggregating commitments to this clean hydrogen
infrastructure fund. As anchor partners, fully committed to low carbon and
renewable hydrogen development, each has pledged to invest 100 million euros.
The fund will be managed by Hy24, a brand new 50/50 joint venture between
Ardian, a world-leading private investment house and FiveT Hydrogen, a clean
hydrogen enabling investment platform. The choice of this fund manager allows
to merge with their similar initiative and to add Plug Power as an anchor
partner, as well as Chart Industries and Baker Hughes joining together.

LOTTE Chemical has also confirmed its intention to participate as anchor
investor, and is the first Asian company to join. The fund expects to attract
further investments from large financial players, with AXA as anchor investor.
Large international industrial players from North America and Europe, which
are strongly committed to carbon neutrality, also intend to join the
initiative as non-anchor partners, such as Groupe ADP, Ballard, EDF, and
Schaeffler.

With solid industrial expertise and significant investment potential, the
clean hydrogen infrastructure fund will have a unique capacity to unlock large
scale projects under development and accelerate the scaling up of hydrogen
markets. With the announced support of public policies and some use of debt
financing, the fund should be able to contribute to the development of
hydrogen projects with a total value of about 15 billion euros.

As a broad energy Company, TotalEnergies’ ambition is to get to net-zero
emissions by 2050 together with society for its global business across its
production and energy products used by its customers. Patrick Pouyanné,
Chairman and CEO of TotalEnergies, commented: “We believe that clean,
renewable hydrogen will play a key role in the energy transition, and
TotalEnergies wants to be a pioneer in its mass production. We are currently
working on several projects, notably to decarbonize the grey hydrogen used in
our European refineries by 2030. We are convinced that a collective effort is
needed to kick-start the hydrogen sector and take it to scale. We are thus
proud to launch and invest in the Clean hydrogen infrastructure fund, which
will also give us privileged insights in the sector.”

As a pioneer in hydrogen for over 50 years, Air Liquide is convinced that
hydrogen is a cornerstone of the energy transition. The Group is providing its
unique expertise along the entire value chain, using hydrogen as a clean
energy carrier for industrial processes and clean mobility. Benoît Potier,
Chairman and CEO of Air Liquide, declared: “Hydrogen has become a central
element of the energy transition. The time to act is now, not only as
companies on a stand-alone basis, but by joining forces with states, other
industrial groups and the financial community. With the creation of this fund,
we are demonstrating our leadership to participate in a collective dynamic to
build momentum. As Air Liquide, we have already committed to invest
approximately 8 billion euros in the low-carbon hydrogen supply chain by 2035.
Our objective is to contribute to the development of the entire value chain
from low-carbon hydrogen production to end-uses, investing in the necessary
infrastructure with storage and distribution projects. Accelerating on
Hydrogen development is key to mitigate climate change.”

A global player in concessions, construction and energy, present in some 100
countries, VINCI is actively committed to Net Zero Emission by implementing an
ambitious environmental policy. Its mission is to design, finance, build and
operate infrastructure and facilities that contribute to improving daily life
and mobility for everyone. Xavier Huillard, Chairman and CEO of VINCI
declared: “VINCI is taking concrete action to support the development of
clean energy by mobilizing all its divisions in concessions, construction and
energy, with the aim of actively combating climate change and decarbonizing
mobility in particular. By launching this investment fund today, hand in hand
with other major industrial leaders, we keep moving forward to make green
hydrogen a strong lever in achieving our objectives”.

The hydrogen economy is expected to be key in the fight against climate
change. Many countries have initiated hydrogen-related regulations and support
schemes to enable clean hydrogen to help decarbonize their economies. Hydrogen
offers a solution to decarbonize industrial processes and the mobility sector.

Subject to Hy24’s French Market Authority (AMF) accreditation as an
Alternative Investment Fund Manager (AIFM), the platform will be operational
in late 2021 and first closing is expected before the end of the year.

***

About TotalEnergies

TotalEnergies is a broad energy company that produces and markets energies on
a global scale: oil and biofuels, natural gas and green gases, renewables and
electricity. Our 105,000 employees are committed to energy that is ever more
affordable, clean, reliable and accessible to as many people as possible.
Active in more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations to
contribute to the well-being of people.

TotalEnergies Contacts

Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPress 
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Investor Relations: +44 (0)207 719 7962 l ir@totalenergies.com
(mailto:ir@totalenergies.com)

About Air Liquide

A world leader in gases, technologies and services for Industry and Health,
Air Liquide is present in 78 countries with approximately 64,500 employees and
serves more than 3.8 million customers and patients. Oxygen, nitrogen and
hydrogen are essential small molecules for life, matter and energy. They
embody Air Liquide’s scientific territory and have been at the core of the
company’s activities since its creation in 1902. Air Liquide’s ambition is
to be a leader in its industry, deliver long term performance and contribute
to sustainability - with a strong commitment to climate change and energy
transition at the heart of its strategy. The company’s customer-centric
transformation strategy aims at profitable, regular and responsible growth
over the long term. It relies on operational excellence, selective
investments, open innovation and a network organization implemented by the
Group worldwide. Through the commitment and inventiveness of its people, Air
Liquide leverages energy and environment transition, changes in healthcare and
digitization, and delivers greater value to all its stakeholders. Air
Liquide’s revenue amounted to more than 20 billion euros in 2020. Air
Liquide is listed on the Euronext Paris stock exchange (compartment A) and
belongs to the CAC 40, EURO STOXX 50 and FTSE4Good indexes. For more
information please visit: www.airliquide.com
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Air Liquide Contacts

Corporate Communications: media@airliquide.com 
(mailto:media@airliquide.com) 
Investor Relations: IRTeam@airliquide.com (mailto:IRTeam@airliquide.com)

About VINCI

VINCI is a global player in concessions, construction and energy businesses,
employing more than 217,000 people in some 100 countries. We design, finance,
build and operate infrastructure and facilities that help improve daily life
and mobility for all. Because we believe in all-round performance, above and
beyond economic and financial results, we are committed to operating in an
environmentally and socially responsible manner. And because our projects are
in the public interest, we consider that reaching out to all our stakeholders
and engaging in dialogue with them is essential in the conduct of our business
activities. VINCI’s ambition is to create long-term value for its customers,
shareholders, employees, partners and society in general. www.vinci.com
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VINCI Contacts

Press Departement: +33 (0)1 47 16 31 82

media.relations@vinci.com (mailto:media.relations@vinci.com)

***

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Cautionary Note

This press release, from which no legal consequences may be drawn, is for
information purposes only. The entities in which TotalEnergies SE directly or
indirectly owns investments are separate legal entities. TotalEnergies SE has
no liability for their acts or omissions. The terms “Company” or
“TotalEnergies company” refer collectively to the company TotalEnergies SE
and the companies it controls directly or indirectly. Such terms are used
solely for the sake of convenience for purposes of the present communication.
Likewise, the words “we”, “us” and “our” may also be used to refer
to subsidiaries in general or to those who work for them. This document may
contain forward-looking information and statements that are based on a number
of economic data and assumptions made in a given economic, competitive and
regulatory environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TotalEnergies SE nor any of its
subsidiaries assumes any obligation to update publicly any forward-looking
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whether as a result of new information, future events or otherwise.



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