HY24

Thesis

HY24 is a pioneering investment firm dedicated to accelerating the global low-carbon hydrogen economy. As the world's first and largest private equity asset manager focused on this sector, HY24 invests across the entire value chain, targeting infrastructure, equipment, and technologies that support resilient, low-carbon energy systems. The firm focuses on hard-to-decarbonize sectors like transport, chemicals, and energy-intensive industries, emphasizing industrial-scale deployment and supporting project developers. Their strategy includes upstream (production), downstream (applications), and midstream (storage, distribution) components, as well as critical equipment manufacturing. HY24 operates globally, with a focus on Europe, Asia Pacific, North America, and MENA. They manage two primary funds: the Clean Hydrogen Infrastructure Fund (€2 billion in allocations, aiming to mobilize €20 billion) and the Clean Hydrogen Equipment Fund. Investments adhere to strict ESG standards, aligning with European taxonomy and SFDR rules, while pursuing economic performance and contributing to climate change mitigation. Investments are significant, with examples including a €26.9 million transaction for HySynergy Phase 1 and a €200 million round for HysetCo. The firm was founded in 2021 as a 50/50 joint venture between Ardian and FiveT Hydrogen.