(Energy Analytics Institute, 12.Sep.2024) — TotalEnergies entered as an investor in the “Japan Hydrogen Fund” at its first close, joining several major Japanese companies. The fund is dedicated to developing the low-carbon hydrogen value chain.
At its launch, the fund is initially endowed with over $400mn, due to contributions from prominent Japanese investors: Toyota Motor Corporation, Iwatani Corporation, Sumitomo Mitsui Banking Corporation, MUFG Bank, Tokyo Century Corporation, Japan Green Investment Corp. for Carbon Neutrality, and the Bank of Fukuoka.
Advantage Partners, one of Japan’s leading private equity firms, will manage the fund, which is launched by the Japan Hydrogen Association (JH2A), the largest private hydrogen value chain promotion council in Japan, representing over 440 members and aiming to promote sustainable development with hydrogen.
“TotalEnergies is pleased to support an ambitious fund dedicated to developing the hydrogen value chain in Japan and globally, as the only non-Japanese investor at this stage. We are convinced that only a collective effort will enable low-carbon hydrogen solutions to emerge on an industrial scale.” said Helle Kristoffersen, President of Asia and member of the Executive Committee of TotalEnergies.
“This initiative aligns with our ambition to be a global player in the energy transition and will also allow us to leverage the dynamism of the hydrogen ecosystem in the Japanese industry,” Kristoffersen said.
This commitment follows TotalEnergies’ launch of the Hy24 clean hydrogen infrastructure fund in 2021 along with Air Liquide and VINCI.
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By Energy Analytics Institute staff. © Energy Analytics Institute (EAI). All Rights Reserved.
