Hy24
Hy24 is a Paris-based private equity asset manager focused exclusively on the low-carbon hydrogen value chain, managing two Article 9 SFDR funds — the €2 billion Clean Hydrogen Infrastructure Fund and the Clean Hydrogen Equipment Fund — that deploy equity into hydrogen project developers and equipment manufacturers on behalf of 50+ industrial and financial institutional limited partners.
- Company typePrivate
- Founded2021
- HeadquartersParis, France
- Headcount11–50
- GTM typeB2B
- OfferingServices
Hy24 firmographics
Firmographics- Name
- Hy24
- Legal name
- Hy24 SAS
- Website
- https://hy24partners.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Hy24 is a Paris-based private equity asset manager focused exclusively on the low-carbon hydrogen value chain, managing two Article 9 SFDR funds — the €2 billion Clean Hydrogen Infrastructure Fund and the Clean Hydrogen Equipment Fund — that deploy equity into hydrogen project developers and equipment manufacturers on behalf of 50+ industrial and financial institutional limited partners.
- Ownership category
- akta.pro rank
Hy24 industry classification
Industry- Product category
- Hydrogen-focused private equity asset management
- akta.pro primary industry
- Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS) (FSANAEAD)
- akta.pro secondary industries
- Energy & Power Infrastructure Funds (Generation, Transmission, Storage) (FSANAEAB), Carbon Markets & Climate Finance (Offsets, Allowances, Carbon Funds) (FSAAALAH)
Keywords
Where Hy24 is headquartered
LocationHeadquarters
- HQ city
- Paris
- HQ country
- France
- HQ region
- Europe
Offices4 records
Markets served
Hy24 business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Fund management fees: Recurring management fees on assets under management across the Clean Hydrogen Infrastructure Fund (€2B raised) and the Clean Hydrogen Equipment Fund. Funds are open to professional investors only and classified Article 9 SFDR. Management fees are charged on committed/invested capital typical of closed-end private infrastructure and private equity funds.
- Carried interest / performance fees: Performance-based carry on the two Article 9 SFDR funds, contingent on the funds meeting return hurdles over multi-year lock-up periods. The €20B targeted investment capacity mobilized by the Clean H2 Infra Fund over its duration indicates a multi-year performance-fee revenue stream tied to successful exits and value creation.
- Co-investment and deal-syndication advisory: Hy24 leads and structures equity co-investment syndicates for portfolio companies (e.g., US$245M lead equity for ATOME Villeta; €48M Enagás Renovable majority acquisition; US$50M StormFisher commitment; H2SITE co-led Series B; c.€120M Elyse Energy round). Income arises indirectly via pro-rata exposure to portfolio company value creation, governance fees, and follow-on capital deployment.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Clean Hydrogen Infrastructure Fund (Article 9 SFDR) |
| Other | Multi-year contract | Clean Hydrogen Equipment Fund (Article 9 SFDR) |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels9 records
Hy24 product offering
Product offeringCore offering
Hy24 is a regulated alternative investment fund manager (AIFM) that raises and deploys capital across two flagship Article 9 SFDR funds focused exclusively on the low-carbon hydrogen value chain: the €2 billion Clean Hydrogen Infrastructure Fund (greenfield production, storage, distribution, mobility, e-fuels, industrial decarbonization) and the Clean Hydrogen Equipment Fund (electrolyzers, fuel cells, Type 4 cylinders, membrane technology). The firm invests as lead or co-lead equity in project developers and equipment manufacturers across Europe, North America, Asia-Pacific, and the MENA region.
Product overview
No source-backed product/service information was available in the provided input. The supplied content contained no WX-prefixed source IDs and no extractable product descriptions, so no specific products, modules, or services can be confirmed.
Differentiator
Problem solved
Functional benefit
Products and services
- Clean Hydrogen Infrastructure Fund A €2 billion Article 9 SFDR-classified private equity fund that invests across the full low-carbon hydrogen value chain — upstream renewables and hydrogen production, midstream conversion/storage/distribution, and downstream mobility, e-fuels, and industrial decarbonization. Targets up to €20 billion of strategic asset mobilization over its ~6-year duration. Available only to professional institutional and industrial investors. Check sizes range from approximately €13M to €300M+ in syndicated transactions. Active portfolio companies include Hy2gen, H2 Mobility, Enagás Renovable, Everfuel, Elyse Energy, InterContinental Energy, Stegra, HysetCo, StormFisher Hydrogen, and ATOME Villeta.
- Clean Hydrogen Equipment Fund An Article 9 SFDR-classified private equity fund focused on hydrogen equipment and technology manufacturing across the value chain (electrolyzers, fuel cells, Type 4 cylinders, membrane reactors, hydrogen separation technology). Provides minority and majority growth equity to enable scale-up and consolidation in a fragmented equipment market estimated to reach USD 190 billion by 2030. Named anchor LPs include ABN AMRO and Schaeffler. Portfolio companies include Hexagon Purus (Type 4 cylinders) and H2SITE (membrane reactor technology).
Quantifiable outcome
- Up to €20B of hydrogen assets of strategic value targeted to be mobilized by Hy24 over the Clean H2 Infra Fund's ~6-year duration
- +9 more outcomes
Companies that use Hy24
Customer profileNamed customers11 records
Segments5 records
Ideal customer profiles3 records
Hy24 technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Hy24 partnerships and signals
Strategic signalScale indicators11 records
Recent moves6 records
Expansion highlights6 records
Hy24 competitors and assessment
Company assessmentDirect peers
- Energy Impact Partners: Climate-focused PE firm with a dedicated decarbonization infrastructure strategy. Comparable LP base (utility/industrial majors) and overlapping portfolio themes including hydrogen and clean fuels.
- HydrogenOne Capital Growth: London-listed investment fund dedicated to clean hydrogen and hydrogen-related assets. Direct peer as a publicly traded pure-play hydrogen investment vehicle targeting similar infrastructure and technology assets.
Broad incumbents
- Copenhagen Infrastructure Partners: Large European green infrastructure fund manager with hydrogen strategies. Overlaps with Hy24 on renewable and hydrogen project finance across Europe, though broader energy transition mandate.
- Ardian: Hy24's JV parent and a major global private investment firm with €174B AUM. Overlap in infrastructure investing and shared personnel; competes broadly for clean energy allocations.
- Brookfield Asset Management: One of the largest global infrastructure investors with significant hydrogen and clean energy deployment. Competes for the largest industrial-scale hydrogen projects that Hy24 targets.
- Hy24 (parent FiveT) portfolio peer: Macquarie Asset Management: Major global infrastructure investor with a dedicated Green Investment Group. Overlaps with Hy24 on green hydrogen and renewable infrastructure transactions globally.
- FiveT Hydrogen: Hy24's JV parent and a hydrogen-focused investment platform co-founded by CEO Pierre-Etienne Franc. Overlap in hydrogen project sourcing and pipeline, but operates as investment platform rather than regulated fund manager.
Emerging players
- Breakthrough Energy Ventures: Bill Gates-founded climate venture fund investing across clean energy including hydrogen. Comparable as a high-profile dedicated climate investor, though earlier-stage and broader in scope than Hy24.
- Climate Infrastructure Partners: Specialist infrastructure equity manager focused on the energy transition. Comparable institutional LP base and thematic focus on decarbonization infrastructure including hydrogen.
- Quinbrook Infrastructure Partners: Specialist infrastructure manager focused on the energy transition with exposure to green hydrogen and clean firming assets. Comparable thematic focus with similar institutional LP base.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Hy24 social profiles
Digital presenceHy24 financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hy24 leadership team
Management profileNumber of profiles
Profiles12 records
Hy24 funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hy24 M&A and investment
M&A and investmentM&A
Investments13 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hy24
What does Hy24 do?
Hy24 is a regulated alternative investment fund manager (AIFM) that raises and deploys capital across two flagship Article 9 SFDR funds focused exclusively on the low-carbon hydrogen value chain: the €2 billion Clean Hydrogen Infrastructure Fund (greenfield production, storage, distribution, mobility, e-fuels, industrial decarbonization) and the Clean Hydrogen Equipment Fund (electrolyzers, fuel cells, Type 4 cylinders, membrane technology). The firm invests as lead or co-lead equity in project developers and equipment manufacturers across Europe, North America, Asia-Pacific, and the MENA region.
Is Hy24 a public or private company?
Hy24 is a private company. It is classified as private equity controlled and is currently operating.
When was Hy24 founded?
Hy24 was founded in 2021. It employs 11 to 50 people.
Where is Hy24 based?
Hy24 is headquartered in Paris, France, in the Europe region.
How does Hy24 make money?
Three revenue lines are on record. Fund management fees are the primary driver. The others are carried interest / performance fees and co-investment and deal-syndication advisory.
Who are Hy24's main competitors?
Direct peers on record are Energy Impact Partners and HydrogenOne Capital Growth. Broad incumbents are Copenhagen Infrastructure Partners, Ardian, Brookfield Asset Management, Hy24 (parent FiveT) portfolio peer: Macquarie Asset Management and FiveT Hydrogen. Emerging players are Breakthrough Energy Ventures, Climate Infrastructure Partners and Quinbrook Infrastructure Partners.
Does Hy24 have an API?
No public API is recorded for Hy24.
What industry is Hy24 in?
Hy24's product category is Hydrogen-focused private equity asset management. Its primary akta.pro industry code is FSANAEAD, Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS), with a secondary code of FSANAEAB, Energy & Power Infrastructure Funds (Generation, Transmission, Storage).