Private Equity FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 12 SOURCES

Hy24

Joint venture of Ardian and FiveT Hydrogen

Also known as Hy24 SAS, Hy24 Partners

Paris manager of clean-hydrogen private-equity funds, a 2021 joint venture of Ardian and FiveT Hydrogen; runs the €2bn Clean Hydrogen Infrastructure Fund and a Clean Hydrogen Equipment Fund.

HEADQUARTERS: Paris, France
FOUNDED: 2021
AUM: —
OUTSIDE CAPITAL: Yes
TEAM LISTED: 8 people

Focus

STAGES: Growth
SECTORS: Climate & Energy Mobility & Logistics Industrial & Manufacturing
ASSET MIX: Private equity
GEOGRAPHY: GlobalEuropeAsia-PacificNorth AmericaMiddle East

Overview

Hy24 is a Paris-based asset manager dedicated to low-carbon hydrogen, created in 2021 as a joint venture between Ardian and FiveT Hydrogen and authorised by the AMF (GP-202171). Its Clean Hydrogen Infrastructure Fund, set up after Air Liquide, TotalEnergies and VINCI chose Hy24 as general partner, closed at €2bn in October 2022 with more than 50 industrial and financial investors; a second strategy, the Clean Hydrogen Equipment Fund, launched in 2023 to back hydrogen equipment and technology makers. It invests in project developers, infrastructure and equipment in Europe, Asia-Pacific, North America and the MENA region, and has offices in Paris, Zurich, Singapore and New York.

PORTFOLIO (12)

H2 MobilityNOTABLE
Mobility & Logistics · since 2022
StegraNOTABLE
Industrial & Manufacturing · since 2023
Hy2gen
Climate & Energy · since 2022
Enagás Renovable
Climate & Energy · since 2022
Everfuel
Climate & Energy
InterContinental Energy
Climate & Energy · since 2023
Elyse Energy
Climate & Energy · since 2023
Hexagon Purus
Mobility & Logistics · since 2024
HysetCo
Mobility & Logistics · since 2024
H2SITE
Deep Tech · since 2025
StormFisher Hydrogen
Climate & Energy · since 2025
OPAL (20% stake, agreement with Uniper)
Climate & Energy · since 2026

People

Pierre-Etienne Franc
Chief Executive Officer · source
Laurent Fayollas
President · source
Amir Sharifi
Comex member and Strategy lead; Head of MENA, UK and Southern Europe · source
Sébastien Paillat
Managing Director, Head of Investments · source
Lorraine Illiaquer
Chief Investment Officer · source
Guillaume Lesueur
Managing Director, Head of the Clean Hydrogen Equipment Fund · source
Jenhao Han
Managing Director, Head of Asia · source
Matthieu Hurson
Chief Financial Officer · source

Frequently asked questions

Hy24 is a private equity fund based in Paris, France, founded in 2021.

Yes. Hy24 invests its own capital in private companies.

Hy24 invests at Growth stage in Climate & Energy, Mobility & Logistics and Industrial & Manufacturing.

Key people at Hy24 include Pierre-Etienne Franc (Chief Executive Officer), Laurent Fayollas (President), Amir Sharifi (Comex member and Strategy lead; Head of MENA, UK and Southern Europe) and Sébastien Paillat (Managing Director, Head of Investments).

Hy24's investments include H2 Mobility, Stegra, Hy2gen, Enagás Renovable, Everfuel, InterContinental Energy, Elyse Energy and Hexagon Purus, among others.

The most recent publicly reported investment by Hy24 is Onuba (Moeve green hydrogen project, 29% stake with COFIDES) (Minority stake), announced in Sep 2026.

Yes. Hy24 manages capital from outside investors.