Hy24, through its dedicated Clean Hydrogen Infrastructure fund, has signed an agreement with EDF Pulse Ventures, EDF’s venture capital arm, with a view to acquiring Hynamics, a subsidiary of the EDF Group.
Hy24 signs agreement to acquire Hynamics from EDF Pulse Ventures
Hy24, a French asset manager and the world’s largest investment platform dedicated to low-carbon hydrogen and its derivatives, through its dedicated Clean Hydrogen Infrastructure fund, has signed an agreement with EDF Pulse Ventures, EDF’s venture capital arm(1), with a view to acquiring Hynamics, a subsidiary of the EDF Group.
The transaction could be completed in the first quarter of 2027, subject to the fulfilment of customary conditions precedent, including the receipt of all necessary regulatory approvals.
Hynamics produces and markets low-carbon hydrogen (2) for the heavy mobility and industrial sectors through several flagship projects in France and the United Kingdom. This transaction marks a new stage in Hynamics’ development, with the ambition of fostering the creation of a leading French and British low-carbon hydrogen champion.
The transaction is fully aligned with EDF Pulse Ventures’ strategy of supporting the growth of its portfolio companies and helping them transition to a new phase of development under the leadership of new shareholders with the resources and expertise required to scale their businesses.
“Since its creation in 2019, EDF has supported Hynamics’ growth and the development of low-carbon hydrogen. The transfer of Hynamics’ share capital to one of Europe’s leading hydrogen development players represents an excellent opportunity to accelerate the expansion of Hynamics’ project portfolio. This change in ownership will enable Hynamics to scale up with the support of a renowned French player, the world’s leading investment fund dedicated to the development of the hydrogen economy and related molecules,” said Julien Villeret, EDF Group Chief Innovation Officer.
“Through its portfolio of low-carbon hydrogen projects, Hynamics has helped lay the foundations of a critical industry for the decarbonization of heavy industry and transport in France and the United Kingdom. To successfully scale up across Europe, the sector must be able to rely on strong industrial players and financial partners capable of structuring the investment required for its deployment. This agreement illustrates the ongoing consolidation around the most promising projects, in support of European energy security,” added Pierre-Etienne Franc, Co-founder and Chief Executive Officer of Hy24.
(1)EDF Pulse Ventures identifies new business activities and innovative solutions developed by start-ups in which the EDF Group seeks to invest as part of a corporate venture capital (CVC) approach, in order to help build a carbon-neutral future. Investments are made through EDF Pulse Holding, a venture capital and support structure dedicated to innovation.
(2) Produced through water electrolysis, a technology that does not emit CO₂ when the electricity used is itself generated from low-carbon sources.