This week, Plug Power, Chart Industries, and Baker Hughes announced their intention to become cornerstone investors in the formation of the  FiveT Hydrogen Fund, a new clean-hydrogen-only private infrastructure fund dedicated to delivering clean hydrogen infrastructure projects at scale.

Plug Power intends to commit €160 million ($200 million), and Chart Industries and Baker Hughes each intend to commit €50 million respectively ($60 million), recognizing the unique value proposition that FiveT will bring to the hydrogen sector. The investments should enable FiveT to help advance a broader global mission to address climate change and accelerate the energy transition. This Euro-denominated fund, offered only to qualified and verified investors, has a goal of raising a total of €1 billion from both financial and industrial investors.

The energy industry and many corporations believe the hydrogen economy needs to build scale at speed to become a key part of the net-zero global economy. Investors have an important role to play, and smart collaboration between financial and strategic stakeholders in hydrogen infrastructure can unlock the potential of the broader hydrogen economy.

The Fund will exclusively finance projects in the production, storage and distribution of clean hydrogen. Projects will aim to achieve strong infrastructure returns and deliver true sustainability for a lasting impact on environment, society and businesses. The Fund will continually seek alliances with industrial companies looking to build the hydrogen energy supply chain and form alliances to grow projects at scale.

By combining deep financial strength and investment rigor with unparalleled knowledge of and access to the hydrogen market and its technology, the Fund is expected to be a catalyst for both the financing and building of hydrogen infrastructure projects. The Fund is led by Pierre Etienne Franc, who was, up to the 31st of March, the vice president of Hydrogen Energy for Air Liquide and co-secretary of the Hydrogen

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