Closing note Ardian Infrastructure has begun to deploy its hydrogen We continue to actively monitor global initiatives to investment strategy. In the previous pages, we have develop the hydrogen economy, paying particular gained insights in hydrogen developments our portfolio attention to infrastructure projects at all points on the companies are carrying around the world: value chain. We will participate in those which make economic sense to gain first-mover advantage in an •In Germany, Ardian is the only private shareholder important and critical new sector which we believe will inEWE, the regional utility based in Lower Saxony evolve and grow even faster than renewable energy or and partnering with 21 cities and districts. EWE is Liquefied Natural Gas. developing a large number of hydrogen projects: hydrogen storage in saline cavities, deployment The technology is ready. Regulation and support projects - production, Hydrogen Refuelling Stations frameworks are developing at pace. Supply and and services for vehicles, Hybit - hydrogen for steel: demand alike are mounting rapidly. Most important of production of green hydrogen for the Arcelor Mittal all, perhaps, is that belief in the urgent need to develop plant, Clean Hydrogen Coastline – in a consortium the hydrogen economy is greater than ever before. We integrate up to 400MW of electrolysis capacity with at Ardian Infrastructure intend to be at the forefront of corresponding hydrogen storage into the energy the hydrogen journey, and invite you to join us as we system in a targeted manner. grasp this absolutely essential and extremely exciting •In France as controlling shareholder of Géosel, we opportunity. support HyVence, a project to develop a green hydrogen plant powered with solar energy to supply refineries. •In Portugal, we are a partner in our subsidiary Ascendi’s integrated SMOOTH2 project for hydrogen truck mobility on the A25 motorway. • Globally, Ardian and FiveT Hydrogen have launched A closing note by Hy24, a €1.8 billion hydrogen infrastructure MATHIAS BURGHARDT fund, supported by investors such as Air Liquide, TotalEnergies, Vinci, Plug Power, Chart and Baker Head of Infrastructure and Hugues, Lotte Chemicals, Enagás, GRT Gaz, SNAM, Memberof the Executive Committee, Ardian AXA, CCR, Crédit Agricole Assurances, JBIC, Airbus, ADP, EDF. 66