Hy24, the hydrogen-focused French and American private equity JV, has hired Guillaume Lesueur as Managing Director, according to a news release.
Guillaume, former head of EDF Pulse Ventures, will head upHy24’s latest investment initiative dedicated to scaling-up clean hydrogen technologies and equipment manufacturers.
Hy24 is a joint venture established in 2021 by FiveTHydrogen and Ardian. Its first fund – Clean Hydrogen Infrastructure, or “InfraFund” – is targeted at building out the hydrogen infrastructure market. The fund has raised EUR 2bn and has made four investments. More than 50 LPs are involved.
The new investment initiative led by Guillaume will focus on supporting the technology and equipment manufacturing capacities needed to meet the demand for hydrogen across the global supply chain, the release states.
“With over one thousand large-scale hydrogen projects announced worldwide as of the end of January 2023, demand for equipment far exceeds available supply capacity,” the release states. “From upstream to downstream, the manufacturing of hydrogen production, conversion, distribution, retail, storage, and end-use equipment therefore needs rapid acceleration.”
The equipment market is estimated to reach $190bn by 2030.
