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- TotalEnergies becomes the only non-Japanese investor in the Japan Hydrogen Fund, aiming to develop low-carbon hydrogen.
- The fund launches with over $400 million, backed by major Japanese companies like Toyota and Sumitomo Mitsui.
- Advantage Partners, a top private equity firm, will manage the fund to promote sustainable hydrogen development in Japan.
TotalEnergies Joins Japan’s First Low-Carbon Hydrogen Fund
TotalEnergies has entered the “Japan Hydrogen Fund” as an investor during its first close. The fund, initially endowed with over $400 million, is backed by prominent Japanese corporations including Toyota Motor Corporation, Sumitomo Mitsui Banking Corporation, and MUFG Bank. The goal? To accelerate the development of a low-carbon hydrogen value chain.
Helle Kristoffersen, President of Asia and a member of the Executive Committee of TotalEnergies, emphasized the importance of collaboration: “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. We are convinced that only a collective effort will enable low-carbon hydrogen solutions to emerge on an industrial scale.”
The fund is managed by Advantage Partners, one of Japan’s leading private equity firms, and launched by the Japan Hydrogen Association (JH2A). Representing over 440 members, JH2A aims to promote sustainable development using hydrogen, with a focus on Japan’s industrial ecosystem.
This move by TotalEnergies builds on its prior efforts in the hydrogen space. In 2021, the company launched the Hy24 clean hydrogen infrastructure fund in partnership with Air Liquide and VINCI.
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Kristoffersen further noted the alignment with TotalEnergies’ broader ambitions: “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.”
With the combined expertise of Japanese and international stakeholders, the fund is set to play a pivotal role in advancing low-carbon hydrogen technologies globally.