The first Japan Hydrogen Fund has been launched with over $400m committed by Japanese industrial and financing majors, along with TotalEnergies.
Managed by equity firm, Advantaged Partners (AP) and headed up by the Japan Hydrogen Association (JH2A), the fund is “dedicated to developing the low-carbon hydrogen value chain.
Seeing participation from Toyota, Iwatani, Sumitomo Mitsui Banking, MUFG Bank, Tokyo Century, Japan Green Investment Corp. for Carbon Neutrality and the Bank of Fukoka, the fund will invest in hydrogen production, storage, transportation and use facilities.
It comes after JH2A and AP agreed to set up the fund in September last year to focus on creating demand for hydrogen, reducing costs and providing funds to businesses involved in value chains “around the world.”
These developments demonstrate that investors around the world are backing hydrogen as the fuel of the future.