In this episode of The Hydrogen Leader, we welcome Pierre-Etienne Franc, co-founder and CEO of Hy24, the world’s largest clean hydrogen infrastructure investment platform. With more than €2 billion under management and a mission to accelerate the hydrogen transition, Pierre-Etienne brings an extraordinary combination of leadership, coalition-building, and systems thinking to the global energy stage.
From his early days at Air Liquide to launching the Hydrogen Council and now steering massive-scale industrial transformation, Pierre-Etienne shares a compelling story of how hydrogen can reshape energy systems and how public-private collaboration, vision, and bold investment play a crucial role in making it happen.
From Public Service Roots to a World Hydrogen Leader
Pierre-Etienne began his career at Air Liquide, where he led major initiatives in technology, joint ventures, and eventually, hydrogen. But it was his grounding in public service values, inspired by his parents’ civil service careers, that gave him the long-term, impact-focused mindset he brings to leadership today.
His work with early joint ventures like H2 Mobility revealed the importance of creating partnerships across OEMs, oil and gas companies, and regulators—even when interests clash. What set him apart was his ability to step back, align people to a bigger purpose, and build structures where all parties could move forward.
“You don’t win by pushing through your own interest. You win when everyone finds their place in something bigger.”
Building the Hydrogen Council and Global Hydrogen Market Vision
One of Pierre-Etienne’s most lasting contributions to the hydrogen industry is co-founding the Hydrogen Council, a global CEO-level initiative uniting industry leaders to advance hydrogen as a pillar of the energy transition.
This effort created what some called "the hydrogen hype," but Pierre-Etienne clarifies it was much more: a coordinated vision to show policymakers and financial markets that electrons alone won't decarbonize everything. Hydrogen is essential.
He was right—but also acknowledges he was sometimes right too early, especially when it came to relying on OEMs to scale hydrogen mobility. Still, his foresight laid the foundation for the global momentum we see today.
Hy24: Investing in Clean Hydrogen at Global Scale
Pierre-Etienne's current focus is Hy24, the joint venture fund between 5T and Ardian managing over €2 billion for clean hydrogen infrastructure. It is a unique platform, backed 50% by industrial players (like TotalEnergies, Vinci, and Air Liquide) and 50% by financial investors.
The goal: to catalyze €20 billion in total pipeline capacity by leveraging public and private funds across hydrogen production, storage, transportation, and end-use. From green steel in Sweden to hydrogen taxi fleets in Paris, Hy24 is already helping move projects from promise to reality.
"We're not just investing capital. We're creating the snowball effect this industry needs to scale."
Global Hydrogen Market Strategy: China, Europe, and the US
Pierre-Etienne gives a frank assessment of the global hydrogen market:
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China has mastered over 50% of hydrogen value chains in just five years, deploying faster and more competitively than any other country.
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Europe risks falling behind without regulatory clarity and coordinated infrastructure development, despite its leadership in ambition.
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The US, even under political volatility, retains enormous potential thanks to IRA tax credits—provided that projects move quickly.
He emphasizes that hydrogen infrastructure is not just an energy issue but a strategic lever for sovereignty, industrial competitiveness, and climate leadership.
Why Clean Hydrogen Is Still a Smart Career Bet
For young professionals wondering whether clean hydrogen is still worth betting on, Pierre-Etienne’s answer is clear:
“If you want to work on something meaningful, complex, and global—hydrogen gives you technology, finance, policy, and impact. It’s all there.”
Hydrogen is not just a sector. It's a transformation platform, intersecting energy, transport, industry, and finance. From infrastructure to equipment, legal frameworks to global diplomacy, the opportunities for growth are as diverse as they are vital.
Final Thoughts: Purpose, Risk, and the Future of Green Hydrogen Projects
Pierre-Etienne closes by reflecting on what drives him. It’s not only about returns, but about creating structures that accelerate decarbonization and serve the common good. His forthcoming book, Save the World to Change It, explores these themes in depth.
The lesson? In an era of uncertainty, those who lead with vision and align coalitions toward shared impact can reshape entire systems.
“If you think you can do it, do it. Action carries magic, grace, and power.”
To learn more, watch the full podcast episode here. If you like the video, please also subscribe The Hydrogen Leader podcast channel to get exclusive insights in leadership, personal growth, and the hydrogen revolution. Join Dr. Björn Lüssow, as he hosts podcast interviews with CEOs, industry leaders, and innovators shaping the clean energy transition.