Hy24 is a specialized private equity asset manager focused exclusively on the clean hydrogen economy. Established in 2021, it operates as a joint venture between Ardian, one of the world’s leading private investment firms, and FiveT Hydrogen, a dedicated hydrogen investment platform. The company manages more than €2 billion in assets under management through its flagship Clean H2 Infrastructure Fund and a complementary fund targeting hydrogen equipment and technologies.
Hy24 invests in the development of infrastructure and technologies for low-carbon hydrogen production, transport, distribution, and end-use applications across hard-to-abate sectors including industry, mobility, aviation, maritime, and chemicals. Its portfolio includes stakes in project developers and equipment providers such as Hy2gen, H2 Mobility, Enagas Renovable, Everfuel, Elyse Energy, InterContinental Energy, Stegra, HysetCo, Hexagon Purus, StormFisher Hydrogen, and H2SITE. Investments span Europe, the Asia-Pacific region, North America, and the MENA zone.
Headquartered in Paris with additional offices in Zurich, Singapore, and New York, Hy24 employs over 45 professionals combining financial expertise with deep industrial knowledge of hydrogen. The firm adheres to stringent ESG standards, European taxonomy alignment, and SFDR Article 9 requirements while targeting strong financial returns. It positions itself as the world’s first and largest hydrogen-focused private equity asset manager, playing a key role in scaling the hydrogen economy toward global decarbonization goals by 2050.
Also known as Hy24 S.A.S. and Hy24 Partners.
chemXplore tracks 4 projects involving Hy24, of which 3 are active.
Hy24's role on them: Investor / Financier.
3 new construction.
Contractors and licensors are recorded on all 3 of them For subscribers
Targeting: Hydrogen (3), Ammonia (1), Ammonium nitrate (1), Carbon dioxide (1), Methanol (1)
First phase delivers 300 MW (option +105 MW), ~45,000 tH2/yr, >€1bn phase investment, €304m public support and an expected >8,000 jobs across the value chain.
First phase includes a 300 MW electrolyser (>€1bn capex), ~45,000 t H2/yr and ~250,000 t CO2 avoided; received €304m public funding and reached FID.
Deal via Hy24’s Clean Hydrogen Infrastructure Fund buying Lubmin‑Brandov Assets GmbH & Co. KG; OPAL spans 470 km; northern section converted Dec 2025, full conversion by end‑2030; needs approvals.
Divestment transfers 100% of Lubmin-Brandov Assets GmbH & Co. KG to buyer's Clean Hydrogen Infrastructure Fund; aligns with EU state‑aid remedies and hydrogen conversion timeline for OPAL.
Nearly doubled nine‑month order intake; wins Moeve 300‑MW contract with service package; discontinues SOEC mass‑production, incurring ~€30m one‑time EBIT hit and updating FY26 outlook.
Sequential revenue growth, gross-margin expansion to breakeven, operating costs cut ~50%, raised 2026 revenue guidance to 15–16% and targets positive EBITDAS in Q4.
Net income €458m, capex €605m and operating cash flow €762m; leverage fell to 1.2x; groundbreaking for 300 MW Andalusian Green Hydrogen Valley on Sept 17; Galp merger talks continue.
Selected under France’s national support scheme for low‑carbon hydrogen production, a development framed as a milestone toward delivery.
