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.
How to volunteer
The UAE volunteers campaign can be reached at www.volunteers.ae , or by calling 800-VOLAE (80086523), or emailing info@volunteers.ae.
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Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
The specs
Engine: 1.6-litre 4-cyl turbo and dual electric motors
Power: 300hp at 6,000rpm
Torque: 520Nm at 1,500-3,000rpm
Transmission: 8-speed auto
Fuel consumption: 8.0L/100km
Price: from Dh199,900
On sale: now
TEACHERS' PAY - WHAT YOU NEED TO KNOW
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
The specs: 2018 Maserati Levante S
Price, base / as tested: Dh409,000 / Dh467,000
Engine: 3.0-litre V6
Transmission: Eight-speed automatic
Power: 430hp @ 5,750rpm
Torque: 580Nm @ 4,500rpm
Fuel economy, combined: 10.9L / 100km
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
