ABN AMRO invests in Hy24 Clean Hydrogen Equipment Fund.
ABN AMRO invests in the Clean Hydrogen Equipment Fund, the world’s first fund focusing exclusively on investing in clean hydrogen technologies. The fund is managed by Hy24, a clean hydrogen investment pureplay committed to scale up the global hydrogen economy. This is the second climate-related fund investment taken on by ABN AMRO Corporate Investments and fits with the bank’s climate strategy as announced previously.
Through investments like these, ABN AMRO is making capital available to young, fast-growing companies that contribute to the transition to a sustainable economy, but do not yet qualify for credit lines and other banking products. These types of companies developing advanced technology solutions constitute important future clients for ABN AMRO.
Floris Lyppens, Managing Director at ABN AMRO Corporate Investments, said:
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We’re delighted to be part of the first closing of this unique fund. Hy24 operates at the very heart of the hydrogen ecosystem and has a large network in Europe, making it an attractive investment platform for ABN AMRO in the field of clean energy.
Guillaume Lesueur, Managing Director & Head of the Clean Hydrogen Equipment Fund of Hy24, said:
Scaling up the supply capacity of hydrogen technologies is a challenge Hy24 aims to address, alongside infrastructure deployment.
“We are delighted that ABN AMRO is joining our Equipment Fund. Together, we are shaping the future of the clean hydrogen value chain, towards sustainable investment and energy transition.”
Climate strategy
climate strategy ABN AMRO announced at the end of 2022. This climate strategy is a key step to help accelerate momentum and drive the transition to a net zero economy by 2050. ABN AMRO is investing a total of €1 billion in early-stage capital across a range of direct investments, fund investments and hybrid capital to finance the transition to a zero carbon economy. In addition, this investment serves as a strong incentive in terms of knowledge and network for ABN AMRO’s existing hydrogen activities.
ABN AMRO and hydrogen
ABN AMRO has a dedicated hydrogen sector team providing strategic advice and project finance to companies in the hydrogen chain. Want to know more about what ABN AMRO does on hydrogen? Click here.
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ABN AMRO invests in Hy24 Clean Hydrogen Equipment Fund. source
