Hydrogen infrastructure fund manager Hy24 has invested in StormFisher Hydrogen, a company specialising in clean fuel development and production.
Hy24鈥檚 Clean Hydrogen Infrastructure Fund has invested $50m (鈧�48.2m) to help StormFisher deliver its pipeline of clean fuel production projects in North America.
StormFisher Hydrogen develops, owns and operates large-scale facilities producing green hydrogen-derived e-fuels, such as e-methane and e-methanol.
The investment will help accelerate StormFisher Hydrogen鈥檚 project pipeline, which includes facilities in the US and Canada with up to 1.8GW of renewable capacity by 2030.
Pierre-Etienne Franc, co-founder and CEO of Hy24, said: 鈥淲e are pleased to make our first direct investment in North America to support the growth of StormFisher Hydrogen.
鈥淭he company can leverage its energy platform approach, strong offtaker strategy, and a favourable international regulatory landscape to deploy its robust pipeline of e-Fuels projects and drive its export ambitions to European and Asian markets.
鈥淭hese clean energy solutions present a significant opportunity for North America in its pursuit of energy security, economic growth, and its trade and continued leadership in the sector.鈥�
Judson Whiteside, president and CEO of StormFisher Hydrogen, said: 鈥淭his collaboration with Hy24 enables us to advance projects in our pipeline and reinforces our role as a leader in project development.
鈥淲e bring a lot of value and long-term jobs to the communities we are developing in, while increasing molecule exports to Europe and Asia. With cutting-edge energy infrastructure and highly skilled workforce, the US is poised to lead the global low-carbon fuels market.鈥�
StormFisher Hydrogen said it expects to deploy several billion dollars in capital over the next decade, fueled by previous investment from ARC Financial鈥檚 ARC Energy Transition Fund and this latest investment from Hy24.
Brian Boulanger, CEO of ARC Financial, said: 鈥淲e are thrilled to partner with Hy24. 鈥淭heir deep expertise and sectoral focus in the hydrogen and e-Fuel space will be instrumental in accelerating StormFisher Hydrogen鈥檚 mission to lead in clean fuel development.
鈥淲ith the management team鈥檚 proven track record in developing major projects, ARC Financial鈥檚 extensive North American investment experience, and Hy24鈥檚 global reach, we are well-positioned to deliver low-carbon hydrogen-derived products to our industrial customers at scale.鈥�
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