HydrogenOne is selling its investment adviser business to infrastructure and assets manager Cordiant.
Founded in 2020 as an alternative investment firm focused on hydrogen, HydrogenOne Capital LLP has been providing guidance and management to HydrogenOne Capital Growth to ensure its funds meet investment objectives.
However, with Cordiant taking over the business, HydrogenOne says the transaction will accelerate its market access and capabilities.
Having committed over $4bn of capital under management, Cordiant invests in energy transition infrastructure, digital infrastructure and agriculture value chain.
Subject to regulatory approvals, the transaction is expected to be complete in early 2025, with the adviser business set to change its name to Cordiant HydrogenOne plc.
Cordiant HydrogenOne will retain the original management team with personnel set to remain “unchanged.”
HydrogenOne Capital’s Chairman, Simon Hogan, said the transaction was in the “best interest of shareholders.”
“We are very supportive of this transaction and look forward to continuing to work with the existing management team, in addition to the wider team from Cordiant, to deliver value for shareholders,” he added.
Launched in 2021 with INEOS Energy as a strategic investor, HydrogenOne Capital has invested in the likes of Sunfire, HiiROC, Elcogen and Strohm
“Cordiant HydrogenOne has the opportunity to unlock substantial value-creating opportunities for shareholders, accelerating hydrogen infrastructure development,” said the co-heads of Cordiant HydrogenOne, Dr. JJ Traynor and Richard Hulf.
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