BlackRock, the world’s largest asset manager based in the US, has launched a clean energy investment fund focusing on hydrogen and energy storage technologies.
Is this good news? Just over a month ago, Les Echos reported that BlackRock had exited the Net Zero Asset Managers (NZAM) initiative, a global alliance of asset management companies working towards carbon neutrality. Regardless, the financial giant is now offering a product called STOR (iShares and Hydrogen Energy Storage System). The timing seems rather ideal, as investor confidence in hydrogen is currently being tested.
Launched this month and domiciled in Ireland, STOR currently holds net assets of $5.17 million as of 10 February 2025. Its holdings include Contemporary Amperex Technology (8.45%), Air Products (7.16%), Asahi Kasei Corp (6.88%), Linde (6.71%), and Air Liquide (6.69%). STOR also holds 4.45% and 2.2% stakes in electrolyser companies Bloom Energy. Other companies in the portfolio include Plug, Nel, Ballard, Ceres Power, and Fuelcell Energy.
In total, the BlackRock fund has a portfolio of 53 companies, primarily located in Europe and Saudi Arabia, and is based on the STOXX Global Energy Storage and Hydrogen Index.
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