TotalEnergies has announced its entry as an investor in the “Japan Hydrogen Fund” at its first close, joining several major Japanese companies in this fund dedicated to developing the low-carbon hydrogen value chain.
At its launch, according to an email to Energy Window International, the fund is initially endowed with over $400 million, raised from amongst prominent Japanese investors which did not exclude, 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.
The fund according to the email will be managed by “Advantage Partners”, being one of Japan’s leading private equity firms, which was also launched by the Japan Hydrogen Association (JH2A), known as the largest private hydrogen value chain promotion council in Japan, with representation of 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.” says 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.”
This commitment follows TotalEnergies’ launch of the Hy24 clean hydrogen infrastructure fund in 2021 along with Air Liquide and VINCI.