Pierre-Etienne Franc, Managing Director of the investment fund Hy24, has voiced concerns following the government’s announcement of its revised hydrogen strategy. Speaking to several media outlets, he criticised the plan’s lack of precision and its absence of a long-term vision.
His key remarks were summarised in a LinkedIn post. One of the main points concerns the €4 billion allocated to hydrogen production out of the overall €9 billion aid package. Franc notes that while 150 projects have received support so far, it remains unclear how much of the aid has actually been disbursed. He highlights that after initial backing for production facilities, equipment manufacturers are still waiting for the demand-side support that was promised.
According to Hy24’s CEO, “the strategy sets a direction, but it also admits to the delays caused by successive governments, which—caught up in political manoeuvring—failed to align the strategy swiftly enough with the needs of the French industry.”
Among his key concerns is the issue of heavy-duty and high-intensity hydrogen mobility. “While the strategy reaffirms support for this sector, it fails to provide clear or quantified targets for the rollout of hydrogen vehicles and refuelling stations,” he points out.
On the European hydrogen infrastructure front, Franc stresses that France should play a central role in the continental energy landscape—a role that is now delayed. “Major infrastructure projects, such as the interconnection between Spain and Germany, require long-term development. Yet the strategy concedes that nothing significant will happen before 2035. This reflects a lack of long-term vision and a missed opportunity for European leadership,” he concludes.
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