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 hydrogen imports in 2030

Japan’s Ministry of Economy, Trade and Industry has proposed allocating ¥300bn ($2.6bn) to develop a hydrogen import and supply chain as part of a Green Innovation Fund worth about $20bn.

It estimates Japan will import 300,000t/yr of hydrogen in 2030. The government has a target price for green hydrogen imports of ¥30/m³ delivered to Japanese ports.

The Clean H2 Infra Fund is backed by a group of industrial and financial investors including French industrial gases company Air Liquide, energy group TotalEnergies, services company Baker Hughes and insurance group Axa.

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Author: Stuart Penson