Produce cheap power, convert it to a mobile form
There is a reason why Saudi Arabia and other Gulf states are investing heavily in both solar power and green hydrogen production. There is a reason why Europe is investing heavily — both in subsidies and carbon tax schemes — to build out infrastructure and real-world applications. There is a reason why Bill Gates’ Breakthrough Energy, a coalition of businesses, funds, and research organizations, is committing to the development of a 100 billion-euro initiative for green hydrogen by 2025. The European Commission is working on a Clean Hydrogen Alliance while the German government is organizing its national hydrogen strategy
World’s first clean hydrogen investment fund
- The Euro-denominated Fund intends to raise a total of $1,189 billion (€1 billion) from a combination of financial and industrial investors. It will make largely minority co-investments into greenfield projects with key industrial players.
- The Fund has already received combined commitments intentions of $218,7 million (€260 million) from Plug Power, Chart Industries Inc and Baker Hughes.
- Pierre-Etienne Franc, Co-founder and CEO of FiveT Hydrogen, commented:
“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.”