Decarbonization: TotalEnergies Joins the First Japanese Fund Dedicated to the Development of Low-carbon Hydrogen
September 12 2024 - 12:38PM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces its
entry as an investor in the “Japan Hydrogen Fund” at its first
close, joining several major Japanese companies in this fund
dedicated to developing the low-carbon hydrogen value chain.
At its launch, the fund is initially endowed with over $400
million, thanks to contributions from prominent Japanese investors:
Toyota Motor Corporation, Iwatani Corporation, Sumitomo Mitsui
Banking Corporation, MUFG Bank, Tokyo Century Corporation, Japan
Green Investment Corp. for Carbon Neutrality, and the Bank of
Fukuoka.
The fund will be managed by Advantage Partners, one of Japan’s
leading private equity firms, and is launched by the Japan Hydrogen
Association (JH2A), the largest private hydrogen value chain
promotion council in Japan, representing over 440 members and
aiming to promote sustainable development with hydrogen.
“TotalEnergies is pleased to support an ambitious fund dedicated
to developing the hydrogen value chain in Japan and globally, as
the only non-Japanese investor at this stage. We are convinced that
only a collective effort will enable low-carbon hydrogen solutions
to emerge on an industrial scale.” said Helle Kristoffersen,
President of Asia and member of the Executive Committee of
TotalEnergies. “This initiative aligns with our ambition to be
a global player in the energy transition and will also allow us to
leverage the dynamism of the hydrogen ecosystem in the Japanese
industry.”
This commitment follows TotalEnergies’ launch of the Hy24 clean
hydrogen infrastructure fund in 2021 along with Air Liquide and
VINCI.
***
About TotalEnergies TotalEnergies is a global integrated
energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to provide as many
people as possible with energy that is more reliable, more
affordable and more sustainable. Active in about 120 countries,
TotalEnergies places sustainability at the heart of its strategy,
its projects and its operations.
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