Plug Power, Chart Industries and Baker Hughes announce their intention to become cornerstone investors in FiveT Hydrogen Fund - Seite 2

The Fund will exclusively finance projects in the production, storage and distribution of clean hydrogen. Projects will aim to achieve strong infrastructure returns and deliver true sustainability for a lasting impact on environment, society and businesses. The Fund will continually seek alliances with industrial companies looking to build the hydrogen energy supply chain and form alliances to grow projects at scale.

“Plug Power established the first commercial market for fuel cells and is now building the first green hydrogen generation network across the United States,” said Andy Marsh, CEO of Plug Power. “We are now one of the original investors in the first significant fund to support funding hydrogen infrastructure projects. FiveT was an early investor in the hydrogen industry and is leveraging its’ knowledge and Pierre Etienne’s leadership in the industry to build the team and create the best in class infrastructure fund in this field. We believe this fund will help accelerate the construction of hydrogen infrastructure globally which will support rapid deployment of fuel cell applications.”

“After over 50 years of Chart manufacturing hydrogen equipment, we are thrilled to see the traction that hydrogen is getting as a key power source in the clean energy transition,” stated Jill Evanko, Chart’s CEO and President. “We are participating as an early investor in the FiveT Hydrogen Fund, as we believe this fund will be an important step in the acceleration of the buildout of the global hydrogen infrastructure. Why FiveT Hydrogen? We believe the coupling of Pierre-Etienne Franc’s extensive experience in building the hydrogen marketplace with other key players in the industry is a recipe for success.”

“To drive the energy transition forward requires innovative models for collaboration and investment, and new energy frontiers like hydrogen will progress faster when key players come together,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “The FiveT Hydrogen Fund will combine the financial strength as well as the strategic and technical expertise of our companies to help advance hydrogen in new ways. As an energy technology company with almost 60 years’ experience in the hydrogen space, Baker Hughes is pleased to continue our commitment to a net-zero future with our intended investment in FiveT. This is another good example of our approach to new frontiers where we are making calculated, strategic bets to drive the energy transition forward.”