TotalEnergies joins first Japanese fund for low-carbon hydrogen development

The company is joining other mobility players to support the Japan Hydrogen Fund in unlocking industrial capabilities for the alternative fuel.

TotalEnergies has announced its involvement in the “Japan Hydrogen Fund” as an investor, joining major Japanese companies to develop the low-carbon hydrogen value chain.

The fund will be managed by Advantage Partners, one of the country’s leading private equity firms, and is launched by the Japan Hydrogen Association (JH2A), the largest private hydrogen value chain promotion council in Japan. The entity represents over 440 members and aims to promote sustainable development with hydrogen.

“We are convinced that only a collective effort will enable low-carbon hydrogen solutions to emerge on an industrial scale. This initiative aligns with our ambition to be a global player in the energy transition and will also allow us to leverage the dynamism of the hydrogen ecosystem in the Japanese industry,” said Helle Kristoffersen, President of Asia and member of the Executive Committee of TotalEnergies.

This commitment follows TotalEnergies’ launch of the Hy24 clean hydrogen infrastructure fund in 2021 along with Air Liquide and VINCI.

At its launch, the fund was initially endowed with over $400 million, thanks to contributions from prominent Japanese investors. These include Toyota Motor Corporation, Iwatani Corporation, Sumitomo Mitsui Banking Corporation, MUFG Bank, Tokyo Century Corporation, Japan Green Investment Corp. for Carbon Neutrality, and the Bank of Fukuoka.