Credit Agricole invests in hydrogen fund Hy24

French bank’s insurance arm becomes significant investor in largest pure-play clean hydrogen infrastructure fund

Credit Agricole Assurances, France’s largest insurance group, has made a “significant” investment in clean hydrogen fund Hy24. Hy24, a joint venture between French asset manager Ardian and hydrogen investment firm FiveT Hydrogen, is the world’s largest pure-play clean hydrogen infrastructure fund. Launched in October last year, it aims to raise total capital of €1.5bn ($1.6bn) to invest across the sector’s value chain, with a strong focus on mobility applications. Credit Agricole Assurances, which already owns about 9GW of installed renewables capacity in Europe, says it will be a “major contributor” to Hy24, although it did not put a figure on the size of its commitment. “Our investment in