Hy24 is the world's first investment manager fully dedicated to scaling up the hydrogen economy

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Who we are

Hy24 is a joint venture between Ardian, a world-leading private investment house, managing or advising $164 billion, and FiveT Hydrogen, the 360° financial partner exclusively to the clean-hydrogen industry. We combine Ardian’s premier infrastructure fund management record with FiveT’s unparalleled hydrogen expertise and network. We will scale up the global hydrogen economy through first-mover investment opportunities perfectly aligned with the universal ESG agenda.


of allocations for the 'Clean H2 Infra Fund'


of expected CO2 savings over 10 years per M€ AUM from Hy24’s projects

up to €20 billion

of investment capacity mobilized by Hy24 over the next six years


Hy24 is convinced of the potential of hydrogen as a low-carbon energy carrier, and is financing large-scale projects that have a sustainable impact on the economy and society and offer the greatest returns.

To reach Net Zero by 2050, the world needs power from molecules as well as electrons. Renewables will provide the electrons and produce hydrogen. Hydrogen is the clean energy vector that will substitute for carbon rich energy uses in hard to abate sectors. It is the ideal energy feedstock for industrial processes, heavy and intensive mobility powering, and the perfect vector to move energy from its production source through space and time.

Through its impact fund, ‘the Clean H2 Infra Fund’, Hy24 is providing financial capital to fund credible, large-scale clean hydrogen infrastructure projects world-wide. Hy24 drives the essential scale-up of the hydrogen economy through our selective support of both supply- and demand-generative projects.

With a keen insistence on respect of the highest Environmental, Social and Governance principles, sustainable investment in accordance with stringent European regulation is a core Hy24 characteristic. On this we will not compromise. The ‘Clean H2 Infra Fund’ is an Article 9 Fund according to the European SFDR regulation, which classifies funds that meet specific and binding environmental and social criteria.

Hy24 is the frontrunner in the funding of sustainable hydrogen projects around the world.

Projects which make a lasting impact on the environment and society.

Through its infrastructure fund, Hy24 is investing in large-scale infrastructure projects for the production, storage, and distribution of clean hydrogen. Hy24 is a key enabler of decarbonization, particularly in the spheres of industry and mobility. We are supporting hydrogen projects in any country with a strong state support program, with a preference for minority investments with other partners in greenfield projects. We are participating in opportunities at any point on the hydrogen value chain, from upstream through mid- and down-stream. Our objective remains intact: to invest in sustainable projects that have a positive impact on the environment and society without compromising the economic performance expected by our investors.

They invested in Hy24 managed Clean Hydrogen Infrastructure Fund.

The Clean H2 Infra Fund’s creation has been supported by the founding anchor investors Air Liquide, VINCI Concessions, TotalEnergies, Plug Power, Chart Industries and Baker Hughes. It has then attracted more than 50 prominent investors from 13 countries in the Americas, Europe and Asia, including major industrial companies, corporations, banks, pension funds and insurance companies – industrial anchor investors, including LOTTE Chemical, Airbus, and Snam, Enagás, GRTgaz (together as one Anchor partner) and anchor financial investors such as AXA, Crédit Agricole Assurances, CCR, Allianz, CDPQ, JBIC as well as other investors: Border to Coast Pensions Partnership, the CMA CGM Group, ERAFP, Nuveen, Ballard, Schaeffler, Société Générale Assurances, Groupe ADP, EDF, Norinchukin, Caisse des dépôts, DBJ, Itochu, Groupama and BBVA. The fund is now up and running with €2 billion of allocations.

Key People

Hy24’s executive management brings together several of Europe’s most seasoned individuals in the fields of infrastructure investment and hydrogen finance. Together they offer investors more than a century of experience in the sector.

Pierre-Etienne Franc

Chief Executive Officer and Chairman of the IC

Laurent Fayollas

President of the Supervisory Board

Amir Sharifi

Chief Investment Officer

Sébastien Paillat

Managing Director – Head of investments

Dr. Nicolas Brahy

General counsel, public affairs and ESG Director


Read the latest news from Hy24, and explore the insights of our executive leadership.


Press release: Hydrogen mobility pioneer HysetCo raises c.200 million euros to advance transport decarbonization solutions from a group of investors led by Hy24

Hy24, the world’s leading clean hydrogen pure-play investment manager, and HysetCo, a pioneer in hydrogen mobility solutions, announce the closing of a financing round of nearly 200 million euros to accelerate the decarbonization of urban transport.


Press release: Hy24’s Clean Hydrogen Equipment Fund makes first investment in Hexagon Purus

Hy24 commits to invest c. €13 million in the convertible bond private placement of Hexagon Purus, a world-leading manufacturer of solutions for zero emission mobility and clean hydrogen distribution. 


Press release: Masdar and Hy24 Sign Strategic Framework Agreement to Explore Co-Development and Co-Investment Opportunities in International Large-scale Green Hydrogen Production Projects

Masdar, one of the world’s leading renewable energy companies, and Hy24, the world’s largest clean hydrogen pure-play investor, signed a strategic joint development and investment framework agreement to foster large-scale green hydrogen projects during the UN’s Climate Change Conference, COP28, in Dubai.

Our Shareholders

Hy24 is a joint venture between Europe’s largest private investment house and the world’s first pure-play clean hydrogen investment manager

Ardian is a world-leading private investment house, managing or advising $164bn across Europe, the Americas, Asia and Middle East. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 1,050 employees working from seventeen offices across Europe, the Americas, Asia and the Middle East. It manages funds on behalf of more than 1,470 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

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FiveT Hydrogen is the world’s first pureplay clean-hydrogen private investment and asset managment platform. Its mission is to enable the foundation of the hydrogen economy through the development of various large Hydrogen investment initiatives, starting with infrastructure and the Clean H2 Fund jointly developed now within Hy24, with Ardian. FiveT Hydrogen was launched by an experienced team of world-class hydrogen and financial executives and is dedicated to enabling the Hydrogen economy to deliver its full potential. We believe that clean hydrogen – an energy carrier created with close to zero carbon-emissions – will transform and decarbonize the world’s economy, creating a material value-creation opportunity.

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If you're interested in the clean hydrogen economy, we'd be delighted to hear from you.