TotalEnergies has announced its participation in the newly launched “Japan Hydrogen Fund” as an investor, marking its entry as the only non-Japanese company at the fund’s first close.
The fund, which aims to accelerate the development of the low-carbon hydrogen value chain, has been initially endowed with over $400 million, thanks to contributions from major Japanese corporations. 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.
Managed by Advantage Partners, one of Japan’s leading private equity firms, the fund was established by the Japan Hydrogen Association (JH2A). The association, representing over 440 members, is dedicated to promoting sustainable development through hydrogen as part of Japan’s long-term energy transition strategy.
Helle Kristoffersen, President of Asia and member of the Executive Committee of TotalEnergies, expressed the company’s commitment to supporting the fund. She emphasized that the collective effort will be essential to scale up low-carbon hydrogen solutions globally, aligning with TotalEnergies’ ambition to be a leader in the energy transition.
This move follows TotalEnergies’ previous initiatives, including the launch of the Hy24 clean hydrogen infrastructure fund in 2021, in partnership with Air Liquide and VINCI, further demonstrating its strategic focus on hydrogen development.