Hy24 Partners, through its new funddedicated to hydrogen equipment, the “Clean Hydrogen Equipment Fund”, recently participated in a significant funding round with Hexagon Purus, a leading Norwegian player in hydrogen storage systems. The fundraising, reaching 850 million Norwegian kroner (approximately 75 million euros), was carried out through the issuance of convertible shares.
Parent company Hexagon Composites contributed €17.6 million, Mitsui €44 million, and Hy24 Partners approximately €13 million. Hy24 Partners’ investment will provide it with an observer seat on the Hexagon Purus board of directors, strengthening its strategic commitment to the sector.
Hy24 Partners plays a key role in supporting the development of OEMs, facilitating their scaling up to meet the growing demand for decarbonized hydrogen. By acting as a catalyst within the value chain, the fund manager actively supports the emergence of a more robust hydrogen ecosystem.
The funds raised will help support Hexagon Purus’ growth strategy, which recently opened three new plants in the United States, Canada and Germany. As a key partner of Lhyfe for the distribution of green hydrogen in Europe and a tank specialist, Hexagon Purus has also won major contracts, including one with Ford Trucks for the development of a hydrogen truck prototype in Europe. This promising investment consolidates Hy24 Partners’ position as a driving force in the evolution of the decarbonized hydrogen sector.
