Airbus aims to bring the world's first emissions-free passenger plane into service by 2035. Photo: Airbus
Airbus aims to bring the world's first emissions-free passenger plane into service by 2035. Photo: Airbus
Airbus aims to bring the world's first emissions-free passenger plane into service by 2035. Photo: Airbus
Airbus aims to bring the world's first emissions-free passenger plane into service by 2035. Photo: Airbus

Airbus links up with clean hydrogen fund managed by Hy24


Alkesh Sharma
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European plane maker Airbus has teamed up with one of the world’s largest clean hydrogen infrastructure investment funds, which is managed by Hy24.

Founded last year, Hy24 is a joint venture between Ardian, a private investment house with about $114 billion of assets and FiveTHydrogen, a manager specialising in clean hydrogen investments.

“Since 2020, Airbus has partnered with numerous airlines, airports, energy providers and industry partners to develop a stepped approach to global hydrogen availability,” said Karine Guenan, vice president of ZEROe Ecosystem at Airbus.

"Joining a fund of this magnitude demonstrates Airbus's continuously active role in infrastructure investments for the production, storage and distribution of clean hydrogen worldwide."

The company based in Toulouse, France did not disclose the amount of investment it would make in the fund.

As the aviation industry moves to meet its net-zero carbon emissions goal by 2050, a significant number of requirements need to be met.

Airbus aims to develop the world’s first zero-emission commercial aircraft by 2035 using hydrogen propulsion.

This year, it launched ZEROe demonstrator to test hydrogen combustion technology on an A380 multimodal platform.

In September 2020, it revealed three designs it is considering for the hydrogen-powered aircraft as it seeks to bring the world's first emissions-free passenger plane into service.

"We are delighted that Airbus has joined the fund along with other key industrial and financial investors,” said Pierre-Etienne Franc, Hy24’s chief executive.

“Hy24 is well positioned to identify and accelerate the development of clean-hydrogen infrastructure companies to meet today's needs and ensure tomorrow’s transportation and logistics."

Hy24’s investment fund will provide financial capital to back credible, large-scale green hydrogen infrastructure projects globally.

In February, Airbus teamed up with Ohio engine maker CFM International to test and pioneer hydrogen-combustion technology.

On Wednesday, US plane maker Boeing committed a $50 million investment in AEI HorizonX, which was formed as Boeing's corporate venture capital arm in 2017 and is now managed by private equity firm AE Industrial Partners.

The new funding will anchor AEI HorizonX's second venture fund, which plans to raise $250m to support promising start-ups in future mobility, space, sustainability, digital enterprise applications, networks and security, Boeing said.

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Tips for newlyweds to better manage finances

All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.

Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.

Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.

Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.

Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.

Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.

Pharaoh's curse

British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
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  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
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116 pitches

76 nations

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15 Lebanese teams

2 Kuwaiti teams

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2pm: Handicap (PA) Dh 50,000 (Dirt) 1,400m

Winner: AF Al Moreeb, Antonio Fresu (jockey), Ernst Oertel (trainer)

2.30pm: Maiden (TB) Dh 60,000 (D) 1,400m

Winner: Shamikh, Ryan Curatolo, Nicholas Bachalard

3pm: Handicap (TB) Dh 64,000 (D) 1,600m

Winner: One Vision, Connor Beasley, Ali Rashid Al Raihe

3.30pm: Conditions (TB) Dh 100,000 (D) 1,600m

Winner: Gabr, Sam Hitchcott, Doug Watson

4pm: Handicap (TB) Dh 96,000 (D) 1,800m

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4.30pm: Maiden (TB) Dh 60,000 (D) 1,600m

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Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

Six large-scale objects on show
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Stars: Brad Pitt, Tommy Lee Jones

Five out of five stars 

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Updated: May 12, 2023, 4:12 PM`