Airbus joins Hy24 Hydrogen infrastructure investment platform
Aviation giant Airbus has recently announced that it is investing in the world's largest clean hydrogen infrastructure investment fund managed by Hy24. An investment manager specializing in clean hydrogen investments, Hy24 is a joint venture between investment platforms Ardian and FiveTHydrogen.
Airbus' involvement in Hy24 assures its commitment to the scaling up of a global hydrogen economy, a prerequisite for the successful entry-into-service of its zero-emission commercial aircraft by 2035.
"Since 2020, Airbus has partnered with numerous airlines, airports, energy providers and industry partners to develop a stepped approach to global hydrogen availability," said Karine Guenan, VP ZEROe Ecosystem, Airbus. "Joining a fund of this magnitude demonstrates Airbus' continuously active role in infrastructure investments for the production, storage and distribution of clean hydrogen worldwide".
As the aviation industry transitions to meet its net-zero carbon emissions goal by 2050, a significant number of requirements need to be met in terms of technological investments and scalling-up. Investing in sector-specific funds like Hy24 offers complimentary access to direct partnerships shaping the new energy ecosystems, according to Airbus.
Hy24's investment fund will provide financial capital to back credible, large-scale green hydrogen infrastructure projects world-wide.
"We are delighted that Airbus has joined the fund along with other key industrial and financial investors," said Pierre-Etienne Franc, the CEO of Hy24. "Hy24 is well-positioned to identify and accelerate the development of clean-hydrogen infrastructure companies to meet today's needs and ensure tomorrow's transportation and logistics".
Airbus has set a target for 2035 to develop the world's first zero-emission commercial aircraft powered by hydrogen. The company has already revealed its ZEROe concepts hybrid-hydrogen aircrafts, which are powered by hydrogen combustion through modified gas turbine engines. Liquid hydrogen is used as fuel for combustion with oxygen in these concept aircrafts.