First major investment in "green" hydrogen in Europe by the Hy24 fund

Associated with the management company Mirova, the Caisse de dépôts et placement du Québec and Technip Energies, the fund has invested in Hy2Gen, a pioneering green hydrogen company based in Wiesbaden, Germany.

The capital will be used to develop industrial sites (two in Canada, two in France, one in Germany and one in Norway) which will produce hydrogen, in particular for synthetic fuels called "e-fuels" or "efuels" intended for sea ​​and land transport, aviation and industry.

"To ensure that the electricity we use to make hydrogen by electrolysis of water (an operation that allows us to dissociate in H2O, the chemical formula of water, the H molecules of hydrogen from the O2 of oxygen, NDR) is green, we have two scenarios depending on the projects" explains Cyril Dufau-Sansot, CEO of Hy2gen to AFP.

"Either we are in direct contact with renewable energy production companies (hydroelectric in Canada and Norway for example), or we take electricity from the network (France, Germany), but after agreements with green electricity companies" which "guarantee" the simultaneity "of their production and our consumption" he said.

In France, the Sunrhyse project is located on the plateau of Signes in the Var, it must be used to supply hydrogen to various maritime or road uses, with a production capacity of 12 tons of hydrogen per day, thanks to an agreement with the photovoltaic producer Voltalia.

The second French project, also in the PACA region, is called Hynovera. It should enable the production of e-kerosene on an industrial wasteland of the former Gardanne coal-fired power station.

“We bring in biomass in the form of forest chips: shredded wood, which is used in combustion to produce carbon monoxide, to which hydrogen is added in a synthesis reaction which produces e-fuel” explains Mr. Dufau-Sansot. "And so we produce a molecule which in its use will avoid greenhouse gas emissions".

Founded in 2017, Hy2gen is a pioneer in the production of green hydrogen by electrolysis, with facilities with a capacity of 880 MW under construction.

To create Hy24, the largest clean hydrogen infrastructure fund in the world which aims to eventually reach a portfolio of 1,5 billion euros, Air Liquide, TotalEnergies and Vinci have joined forces with international industrial players, such as the American pioneer of Hydrogen Plug Power, the American liquefaction specialist Chart Industries and the oil services group Baker Hughes.