BAKU, Azerbaijan, September 13. TotalEnergies has announced its entry as the first non-Japanese investor in the "Japan Hydrogen Fund" during its initial closing, marking a significant milestone in the global race to develop sustainable hydrogen technologies, Trend reports.
The fund, launched with more than $400 million, brings together a consortium of major Japanese investors, including Toyota Motor Corporation, Iwatani Corporation, Sumitomo Mitsui Banking Corporation, MUFG Bank, Tokyo Century Corporation, and the Bank of Fukuoka.
The Japan Hydrogen Fund is managed by Advantage Partners, one of Japan’s top private equity firms, under the auspices of the Japan Hydrogen Association (JH2A). The association, comprising over 440 members, is committed to promoting sustainable hydrogen solutions to combat climate change.
"TotalEnergies is pleased to support an ambitious fund dedicated to developing the hydrogen value chain in Japan and globally, as the only non-Japanese investor at this stage," said Helle Kristoffersen, President of Asia at TotalEnergies. "This initiative aligns with our ambition to be a global player in the energy transition."
TotalEnergies’ involvement follows its earlier efforts in the hydrogen space, including the launch of the Hy24 clean hydrogen infrastructure fund alongside Air Liquide and VINCI in 2021. This new collaboration further strengthens its position as a leader in low-carbon energy, while leveraging the advancements in the hydrogen ecosystem fostered by Japanese industry giants.