Hydrogen private equity manager Hy24 has entered the U.S. market with a $50 million investment commitment into StormFisher Hydrogen, a low-carbon fuels developer, according to a Feb. 11 news release.

The funding, made via Hy24’s Clean Hydrogen Infrastructure Fund, will go toward the hydrogen company’s efforts to produce clean fuel in the U.S. and Canada. StormFisher Hydrogen aims to have enough capacity to convert up to 1.8 gigawatts of solar and wind energy into renewable fuels such as green hydrogen, e-methanol, green ammonia and e-methane.

The company’s most advanced project is an e-methanol production facility in North Texas, the news release states.

StormFisher said it anticipates reaching a final investment decision in 2026 for the project that will have a production capacity of more than 120,000 tonnes per year of e-methanol.

“This collaboration with Hy24 enables us to advance projects in our pipeline and reinforces our role as a leader in project development,” said StormFisher Hydrogen CEO Judson Whiteside. “We bring a lot of value and long-term jobs to the communities we are developing in, while increasing molecule exports to Europe and Asia.”

France-based Hy24 is a joint venture between private investment house Ardian and hydrogen investment platform FiveT Hydrogen. Its Clean Hydrogen Infrastructure Fund is backed by companies that include Air Liquide, Baker Hughes, Plug Power and TotalEnergies.

“The company can leverage its energy platform approach, strong offtaker strategy, and a favorable international regulatory landscape to deploy its robust pipeline of e-Fuels projects and drive its export ambitions to European and Asian markets,” Hy24 CEO Pierre-Etienne Franc said of StormFisher Hydrogen. “These clean energy solutions present a significant opportunity for North America in its pursuit of energy security, economic growth, and its trade and continued leadership in the sector.”

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