Aircraft manufacturer Airbus has invested in Hy24, the world’s largest pure-play clean hydrogen investment fund, in a move that highlights the company’s confidence in the role of liquid hydrogen in decarbonising the aviation sector.

Airbus says its investment in the fund “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”.

Hy24, a joint venture between French asset manager Ardian and hydrogen investment firm FiveT Hydrogen, launched its fund in October last year. The fund is on track to close this summer with a target of €1.8bn ($1.83bn) to invest across the hydrogen value chain, with a strong focus on mobility applications.

“Since 2020, Airbus has partnered with numerous airlines, airports, energy providers and industry partners to develop a stepped approach to global hydrogen availability,” says Karine Guenan, vice-president ZEROe ecosystem at 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.”

€1.8bn – Hy24 fund target fundraise

Airbus joins a growing list of strategic and financial investors in the fund, including  TotalEnergies, industrial gases firm Air Liquide and Credit Agricole Assurances, France’s largest insurance group. Airbus declined to comment on the size of its investment, citing the quiet period ahead of its next earnings report later this month.

The company recently signed a memorandum of understanding with industrial gases firm Linde to work on the development of hydrogen infrastructure at airports. The firms will collaborate on developing global supply chains for hydrogen—including production, storage and refuelling infrastructure. Separately, Airbus has already launched a project with US-based engine maker CFM International to demonstrate a hydrogen-fuelled engine mounted onto a modified version of its A380 model, the world’s largest passenger plane.

In 2020, the company launched the Hydrogen Hub at Airports programme to jumpstart research into infrastructure requirements and low-carbon airport operations. It has signed agreements with partners and airports in France, Italy, South Korea, Japan and Singapore as part of the scheme.

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Author: Stuart Penson