Japan to invest up to $109mn in Hy24 hydrogen fund

State-owned JBIC will provide the cash as Japan looks to develop a hydrogen import and supply chain

State-owned Japan Bank for International Cooperation (JBIC) has agreed to invest up to €100mn ($109mn) in the clean hydrogen sector via the Clean H2 Infra Fund. The dedicated clean hydrogen fund, which aims to raise a total of €1.5bn, is managed by Hy24—a joint venture between investment management firm FiveT Hydrogen and French private investment house Ardian. “Hy24's investment strategy is to deploy capital into clean hydrogen-based projects, particularly in the most advanced regions in the world. Japan is fully committed to establish a hydrogen society. Being able to work with JBIC will be a major asset for the team,” says Pierre-Etienne Franc, Hy24’s CEO. 300,000t/yr – Japan’s targeted