TotalEnergies has announced its participation as an investor in the newly launched “Japan Hydrogen Fund,” joining several major Japanese companies in a collective effort to advance the low-carbon hydrogen value chain.
The fund, which has raised over $400 million at its first close, has received backing from prominent Japanese corporations, including 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 largest hydrogen value chain promotion council in the country. JH2A, which represents over 440 members, aims to drive sustainable hydrogen development both in Japan and globally.
“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,” said Helle Kristoffersen, President of Asia and member of the Executive Committee of TotalEnergies.
Kristoggersen added, “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.”