Regulatory News:
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210930006084/en/
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), Air Liquide, and
VINCI, are combining forces with other large international
companies to sponsor the creation of the world’s largest fund
exclusively dedicated to clean hydrogen infrastructure solutions.
The fund aims to reach 1.5 billion euros and has already secured
initial commitments of 800 million euros. Its objective is to
accelerate the growth of the clean hydrogen ecosystem by investing
in large strategic projects and leveraging the alliance of
industrial and financial players.
The clean hydrogen infrastructure fund will invest in the entire
value chain of renewable and low carbon hydrogen, in the most
promising regions in the Americas, Asia and Europe. It will invest
as a partner, alongside other key project developers and/or
industry players, in large upstream and downstream clean hydrogen
projects. Total commitments to the fund have already reached 800
million euros out of a target of around 1.5 billion euros at
signature.
TotalEnergies, Air Liquide, and VINCI Concessions have been at
the forefront of setting up and aggregating commitments to this
clean hydrogen infrastructure fund. As anchor partners, fully
committed to low carbon and renewable hydrogen development, each
has pledged to invest 100 million euros. The fund will be managed
by Hy24, a brand new 50/50 joint venture between Ardian, a
world-leading private investment house and FiveT Hydrogen, a clean
hydrogen enabling investment platform. The choice of this fund
manager allows to merge with their similar initiative and to add
Plug Power as an anchor partner, as well as Chart Industries and
Baker Hughes joining together.
LOTTE Chemical has also confirmed its intention to participate
as anchor investor, and is the first Asian company to join. The
fund expects to attract further investments from large financial
players, with AXA as anchor investor. Large international
industrial players from North America and Europe, which are
strongly committed to carbon neutrality, also intend to join the
initiative as non-anchor partners, such as Groupe ADP, Ballard,
EDF, and Schaeffler.
With solid industrial expertise and significant investment
potential, the clean hydrogen infrastructure fund will have a
unique capacity to unlock large scale projects under development
and accelerate the scaling up of hydrogen markets. With the
announced support of public policies and some use of debt
financing, the fund should be able to contribute to the development
of hydrogen projects with a total value of about 15 billion
euros.
As a broad energy Company, TotalEnergies’ ambition is to get to
net-zero emissions by 2050 together with society for its global
business across its production and energy products used by its
customers. Patrick Pouyanné, Chairman and CEO of
TotalEnergies, commented: “We believe that clean, renewable
hydrogen will play a key role in the energy transition, and
TotalEnergies wants to be a pioneer in its mass production. We are
currently working on several projects, notably to decarbonize the
grey hydrogen used in our European refineries by 2030. We are
convinced that a collective effort is needed to kick-start the
hydrogen sector and take it to scale. We are thus proud to launch
and invest in the Clean hydrogen infrastructure fund, which will
also give us privileged insights in the sector.”
As a pioneer in hydrogen for over 50 years, Air Liquide is
convinced that hydrogen is a cornerstone of the energy transition.
The Group is providing its unique expertise along the entire value
chain, using hydrogen as a clean energy carrier for industrial
processes and clean mobility. Benoît Potier, Chairman and CEO of
Air Liquide, declared: “Hydrogen has become a central element
of the energy transition. The time to act is now, not only as
companies on a stand-alone basis, but by joining forces with
states, other industrial groups and the financial community. With
the creation of this fund, we are demonstrating our leadership to
participate in a collective dynamic to build momentum. As Air
Liquide, we have already committed to invest approximately 8
billion euros in the low-carbon hydrogen supply chain by 2035. Our
objective is to contribute to the development of the entire value
chain from low-carbon hydrogen production to end-uses, investing in
the necessary infrastructure with storage and distribution
projects. Accelerating on Hydrogen development is key to mitigate
climate change.”
A global player in concessions, construction and energy, present
in some 100 countries, VINCI is actively committed to Net Zero
Emission by implementing an ambitious environmental policy. Its
mission is to design, finance, build and operate infrastructure and
facilities that contribute to improving daily life and mobility for
everyone. Xavier Huillard, Chairman and CEO of VINCI
declared: “VINCI is taking concrete action to support the
development of clean energy by mobilizing all its divisions in
concessions, construction and energy, with the aim of actively
combating climate change and decarbonizing mobility in particular.
By launching this investment fund today, hand in hand with other
major industrial leaders, we keep moving forward to make green
hydrogen a strong lever in achieving our objectives”.
The hydrogen economy is expected to be key in the fight against
climate change. Many countries have initiated hydrogen-related
regulations and support schemes to enable clean hydrogen to help
decarbonize their economies. Hydrogen offers a solution to
decarbonize industrial processes and the mobility sector.
Subject to Hy24’s French Market Authority (AMF) accreditation as
an Alternative Investment Fund Manager (AIFM), the platform will be
operational in late 2021 and first closing is expected before the
end of the year.
***
About TotalEnergies
TotalEnergies is a broad energy company that produces and
markets energies on a global scale: oil and biofuels, natural gas
and green gases, renewables and electricity. Our 105,000 employees
are committed to energy that is ever more affordable, clean,
reliable and accessible to as many people as possible. Active in
more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
About Air Liquide
A world leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 78 countries with
approximately 64,500 employees and serves more than 3.8 million
customers and patients. Oxygen, nitrogen and hydrogen are essential
small molecules for life, matter and energy. They embody Air
Liquide’s scientific territory and have been at the core of the
company’s activities since its creation in 1902. Air Liquide’s
ambition is to be a leader in its industry, deliver long term
performance and contribute to sustainability - with a strong
commitment to climate change and energy transition at the heart of
its strategy. The company’s customer-centric transformation
strategy aims at profitable, regular and responsible growth over
the long term. It relies on operational excellence, selective
investments, open innovation and a network organization implemented
by the Group worldwide. Through the commitment and inventiveness of
its people, Air Liquide leverages energy and environment
transition, changes in healthcare and digitization, and delivers
greater value to all its stakeholders. Air Liquide’s revenue
amounted to more than 20 billion euros in 2020. Air Liquide is
listed on the Euronext Paris stock exchange (compartment A) and
belongs to the CAC 40, EURO STOXX 50 and FTSE4Good indexes. For
more information please visit: www.airliquide.com
About VINCI
VINCI is a global player in concessions, construction and energy
businesses, employing more than 217,000 people in some 100
countries. We design, finance, build and operate infrastructure and
facilities that help improve daily life and mobility for all.
Because we believe in all-round performance, above and beyond
economic and financial results, we are committed to operating in an
environmentally and socially responsible manner. And because our
projects are in the public interest, we consider that reaching out
to all our stakeholders and engaging in dialogue with them is
essential in the conduct of our business activities. VINCI’s
ambition is to create long-term value for its customers,
shareholders, employees, partners and society in general.
www.vinci.com
***
@TotalEnergies TotalEnergies TotalEnergies TotalEnergies
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TotalEnergies SE directly or indirectly owns investments are
separate legal entities. TotalEnergies SE has no liability for
their acts or omissions. The terms “Company” or “TotalEnergies
company” refer collectively to the company TotalEnergies SE and the
companies it controls directly or indirectly. Such terms are used
solely for the sake of convenience for purposes of the present
communication. Likewise, the words “we”, “us” and “our” may also be
used to refer to subsidiaries in general or to those who work for
them. This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TotalEnergies SE nor
any of its subsidiaries assumes any obligation to update publicly
any forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210930006084/en/
TotalEnergies Media Relations: +33 1 47 44 46 99 l
presse@totalenergies.com l @TotalEnergiesPress Investor Relations:
+44 (0)207 719 7962 l ir@totalenergies.com
Air Liquide Corporate Communications:
media@airliquide.com Investor Relations: IRTeam@airliquide.com
VINCI Press Departement: +33 (0)1 47 16 31 82
media.relations@vinci.com
TotalEnergies (NYSE:TTE)
Historical Stock Chart
From Apr 2024 to May 2024
TotalEnergies (NYSE:TTE)
Historical Stock Chart
From May 2023 to May 2024