Leading European hydrogen investment fund manager Hy24 is set to enter the North American market with a $50m investment in clean fuels developer StormFisher Hydrogen.

StormFisher’s project pipeline includes US facilities in Texas, Kansas and Minnesota, as well as in Ontario, Canada. The portfolio includes capacity to convert up to 1.8GW of solar and wind power to green hydrogen, e-methanol, green ammonia and e-methane, with ambitions to supply European and Asian markets.

The company’s most advanced project is an e-methanol facility in north Texas with a capacity of more than 120,000t/yr. FID on the project is expected in early 2026.

“We are pleased to make our first direct investment in North America to support the growth of StormFisher Hydrogen,” said Pierre-Etienne Franc, co-founder and CEO of Hy24. “The company can leverage its energy platform approach, strong offtaker strategy, and a favourable international regulatory landscape to deploy its robust pipeline of efuels projects and drive its export ambitions to European and Asian markets.”

Entry into the North American market by Hy24, which is backed by major industrial players including Air Liquide, TotalEnergies, Baker Hughes and Chart Industries, comes amid continued uncertainty over the new US administration’s readiness to support the clean hydrogen sector.

On entering the White House, US President Donald Trump issued executive orders to pause federal funding under the Inflation Reduction Act and the Infrastructure Investment and Jobs Act for a 90-day review period. The move raised questions over the future of crucial funding for clean hydrogen via production tax credits, as well as capital grants for hub projects. Threats by the US to impose international trade tariffs have added another later of uncertainty for the hydrogen sector.

Hy24 said it believes the US has significant potential as both a domestic producer and global exporter of hydrogen-based products such as e-methane and e-methanol.

“The current administration's emphasis on bolstering economic resilience and enhancing domestic energy security in the US is expected to support key aspects of the clean energy transition,” the firm told Hydrogen Economist. “Molecule-based solutions, such as e-methane and e-methanol, will strengthen the US economy through energy innovation and trade.”

StormFisher said it is actively engaging with the new administration on 45V, 45Q, and 45Z tax credits, focusing on regions with strong fundamentals, particularly those with robust renewable electricity production. The company is also working with state and local officials on project incentives.

“StormFisher aims to collaborate with the administration on trade policies to facilitate the company's end products’ entry into the EU market,” the company said.

---

Author: Stuart Penson