This is another good example of our approach to new frontiers where we are making calculated, strategic bets to drive the energy transition forward.”īy 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. As an energy technology company with almost 60 years’ experience in the hydrogen space, Baker Hughes is pleased to continue our commitment to a net-zero future with our intended investment in FiveT. “The FiveT Hydrogen Fund will combine the financial strength as well as the strategic and technical expertise of our companies to help advance hydrogen in new ways. “To drive the energy transition forward requires innovative models for collaboration and investment, and new energy frontiers like hydrogen will progress faster when key players come together,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. Why FiveT Hydrogen? We believe the coupling of Pierre-Etienne Franc’s extensive experience in building the hydrogen marketplace with other key players in the industry is a recipe for success.” “We are participating as an early investor in the FiveT Hydrogen Fund, as we believe this fund will be an important step in the acceleration of the buildout of the global hydrogen infrastructure. “After over 50 years of Chart manufacturing hydrogen equipment, we are thrilled to see the traction that hydrogen is getting as a key power source in the clean energy transition,” stated Jill Evanko, Chart’s CEO and President.
We believe this fund will help accelerate the construction of hydrogen infrastructure globally which will support rapid deployment of fuel cell applications.” FiveT was an early investor in the hydrogen industry and is leveraging its’ knowledge and Pierre Etienne’s leadership in the industry to build the team and create the best in class infrastructure fund in this field. “We are now one of the original investors in the first significant fund to support funding hydrogen infrastructure projects. “Plug Power established the first commercial market for fuel cells and is now building the first green hydrogen generation network across the United States,” said Andy Marsh, CEO of Plug Power. 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. Projects will aim to achieve strong infrastructure returns and deliver true sustainability for a lasting impact on environment, society and businesses. The Fund will exclusively finance projects in the production, storage and distribution of clean hydrogen. Plug Power, Chart Industries and Baker Hughes are early cornerstone investors in the Fund, helping it to establish its market presence and enabling the first stages of its investment activity. Investors have an important role to play in driving success, and smart collaboration between financial and strategic stakeholders in hydrogen infrastructure can unlock the potential of the broader hydrogen economy, accelerating the pace of investment and supporting a net-zero emissions future. The energy industry and many corporations broadly agree the hydrogen economy needs to build scale at speed to succeed and become a key part of the solution to building a net-zero global economy. This Euro-denominated Fund, offered only to qualifying and verified investors, has the ambition to raise a total of €1 billion from both financial and industrial investors.
These investments enable FiveT to establish itself at the heart of the hydrogen industry and help advance a broader global mission to address climate change and accelerate the energy transition. Plug Power intends to commit €160 million ($200 million), and Chart Industries and Baker Hughes each intend to commit €50 million respectively ($60 million), recognising the unique value proposition that FiveT will bring to the hydrogen sector. (NYSE: GTLS) and Baker Hughes (NYSE: BKR), are announcing their intention to become cornerstone investors in the formation of the FiveT Hydrogen Fund (“FiveT” or “the Fund”), a unique new clean-hydrogen-only private infrastructure fund dedicated to delivering clean hydrogen infrastructure projects at scale. NEW YORK, ATLANTA, HOUSTON and LONDON, Ap(GLOBE NEWSWIRE) - Plug Power (NASDAQ: PLUG), Chart Industries, Inc. Three companies each bring financial, strategic and technical expertise to help further develop the hydrogen economy.Combined investments of €260 million are part of a €1 billion Fund ambition, helping to drive development for climate change solutions and accelerate the energy transition to a net-zero future.Investments intend to establish market presence for the FiveT Hydrogen Fund and enable initial stages of activity.
0 kommentar(er)
