Hy24 invests €13mn in clean hydrogen solutions

Hy24, a clean hydrogen alternative investment fund manager, has announced its inaugural investment through its Clean Hydrogen Equipment Fund.

The fund manager is set to inject approximately €13 million into Hexagon Purus, a  manufacturer of solutions for zero-emission mobility and clean hydrogen distribution. The investment will support the latter’s global equipment and solutions manufacturing scale-up plans, enabling it to meet the growing demand for hydrogen supply chain components.

The new fund builds on the momentum of Hy24’s Clean Infrastructure Fund, which closed at €2 billion and focuses on investing in the infrastructure required to enable a clean hydrogen economy. 

Hy24’s investment is part of a convertible bonds private placement by Hexagon Purus, joining a consortium committing approximately €88.5 million to support the company.

Guillaume Lesueur, managing director & head of the Clean Hydrogen Equipment Fund at Hy24, highlighted the fund’s commitment to “mature and pivotal hydrogen technologies essential to decarbonising industry and mobility sectors.”

Morten Holum, CEO of Hexagon Purus, said: “This capital raise ensures that we can continue to scale up our manufacturing capacity to deliver on existing customer contracts for hydrogen infrastructure and prepare for the serial volume of zero-emission mobility as demand increases.”

© 2024 funds europe

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