JOHANNESBURG (miningweekly.com) – AP Ventures Fund II, with its strategy of investing along the hydrogen value chain, has closed at four times the size of Fund I.
The far-seeing AP Ventures began investing along the generally platinum group metals- (PGMs-) linked hydrogen value chain as long ago as 2013.
Managing partner Andrew Hinkly on Thursday reported the final close of AP Ventures Fund II with the latest admission of Temasek, the Singapore-headquartered 800-multinational-staff sovereign fund with a $214-billion portfolio.
Temesek joins AP Ventures’ existing group of global investors, made up of Anglo American Platinum, the Public Investment Corporation of South Africa, Implats, Plastic Omnium, Mitsubishi Corporation, the Mirai Creation Fund, Sumitomo Corporation, Pavilion Capital, Nysnø Climate Investments, Equinor Ventures and Yara Growth Ventures.
The participation of the fund in technologies throughout the hydrogen value chain offers investors access to innovation and acceleration of the development of the new hydrogen economy.
Closing four times its initial size reflects the fund’s unparalleled track record of investing in hydrogen technology companies.
Hydrogen can be generated and converted into electricity with the help of PGMs and is a promising energy carrier. It enables the reduction of emissions from hard-to-abate sectors, such as industrial processes and long-haul transport. Bloomberg New Energy Finance estimates that clean hydrogen could account for 24% of global energy demand by 2050, up from 2% in 2020.
AP Ventures' investments in pioneering new technologies and businesses which aim to solve global challenges include investments in Altergy Systems, Amogy, C-Zero, Ergosup, Greyrock Energy, Hazer Group, HPNow, HRS, HyET Hydrogen, Hydrogenious Liquid Organic Hydrogen Carrier (LOHC) Technologies, Hystar, Infinium, Insplorion, Plug Power, Starfire Energy, and ZEG Power.
Mining Weekly can report that using LOHC allows hydrogen to be handled and transported in a similar way to oil or petrol, using conventional liquid transport networks such as tankers and pipelines, rather than meeting the more complex requirements of compressed gas.
This use of advanced LOHC dehydrogenation catalyst technology fosters the wider introduction of PGMs-using fuel cell electric vehicles, which convert hydrogen into electricity-enabled mobility.
Headquartered in London with a South African presence, AP Ventures manages assets valued at $350-million on behalf of its dozen limited partners that support the 18-strong technology company base.