Vinci and partners launch huge hydrogen initiative

By Mike Hayes01 October 2021

French construction giant to help grow €1.5bn fund for clean hydrogen infrastructure solutions

Construction and concessions giant Vinci, along with two other Paris-headquartered companies – gas technology firm Air Liquide and energy firm TotalEnergies – has launched a huge investment fund, dedicated to the development of clean hydrogen infrastructure solutions.

With major businesses in Europe, the Americas and Asia participating, the alliance says it plans to build a fund totalling €1.5 billion, which will be invested across the value chain of renewable and low carbon hydrogen.

Companies named by Vinci as either on board or soon to be include Plug Power, Chart Industries, Baker Hughes, Lotte Chemical, Axa, Groupe ADP, Ballard, EDF, and Schaeffler.

Leadership in energy transition

Vinci reports that €800 million has already been raised. With the fund managed by Hy241, a joint-venture partnership between Ardian and FiveT Hydrogen, the group will soon move to the selection of hydrogen projects in which to invest.

The company said it expects the fund to contribute to projects with a total value of approximately €15 billion.

Vinci’s chairman and CEO, Xavier Huillard, said, “Vinci is taking concrete action to support the development of clean energy by mobilising all its divisions in concessions, construction and energy, with the aim of actively combating climate change and decarbonising 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.”

Benoît Potier, chairman and CEO of Air Liquide, said, “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.”

Patrick Pouyanné, chairman and CEO of TotalEnergies, said, “We are convinced that a collective effort is needed to kick-start the hydrogen sector and take it to scale. We are...proud to launch and invest in the clean hydrogen infrastructure fund, which will also give us privileged insights in the sector”.

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