Investment fund Hy24 is to acquire EDF’s hydrogen-focused subsidiary Hynamics in a transaction expected to be completed in early 2027.
Hy24, through its Clean Hydrogen Infrastructure fund, entered into an agreement with the French power producer’s capital venture arm, EDF Pulse Ventures, to complete the deal.
The value of the deal has not been confirmed.
Hynamics was founded in 2019 to develop and operate clean hydrogen production and distribution systems. It is currently progressing nine projects across the UK and France targeting industrial and mobility end-uses.
These include the 120MW Fawley Green Hydrogen project, which Hy24 came onboard to co-finance in 2025 and is shortlisted under the UK’s Hydrogen Allocation Round 2 (HAR2).
Hy24 owns stakes in projects and firms across the hydrogen value chain, including a 20% portion in Germany’s OPAL hydrogen pipeline recently acquired from Uniper.
It also holds a 29% joint share of Moeve’s 300MW Onuba project in southern Spain, having come on board alongside financial institution Cofides shortly before the project broke ground.
The investor was set up in 2021 as a joint venture between Ardian and Five-T Hydrogen, and manages over €2bn ($2.2bn).
It currently holds stakes in companies including Atome, Everfuel, Hy2gen, H2 Mobility, Intercontinental Energy, and Stegra.
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