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Lhyfe

Hydrogen Economy
Product stageSegments
Growth
?
Clean Hydrogen
?

Lhyfe is a French developer and supplier of green hydrogen solutions for the mobility and industrial sectors.

Lhyfe supplies renewable and locally produced hydrogen through its onshore, offshore, or on-site production units. These use renewable energy sources such as wind, solar, and hydropower to produce green hydrogen via water electrolysis and are delivered through pipelines or in dedicated containers. According to the company, the hydrogen production units are located within a few tens of kilometers of the end user to reduce CO2 emissions and transportation risks.

In 2021, in France, the company launched what it claims to be the world’s first industrial green hydrogen production site directly connected to a wind farm, followed by the world’s first offshore green hydrogen pilot platform at sea (known as “Sealhyfe”) in 2022. Its on-site green hydrogen plant in Denmark became operational in 2024. Lhyfe has two other sites in France in the Occitanie (Lhyfe Occitanie) and Brittany (Lhyfe Bretagne) regions which became operational in December 2023.

In March 2023, the company made its first investment by acquiring a 49% stake in Flexens, a Finnish developer of renewable and green hydrogen and power-to-x projects, which is expected to spur the commercial deployment and Finland-based projects of both companies.

Lhyfe has several other sites under construction throughout Europe, including,

1. France: Lhyfe has plans to build plants in Le Cheylas (with a production capacity of two tons per day, by mid-2025) and in Bussy-Saint-Georges (with a production capacity of two tons a day, by 2026).

2. Germany: Lhyfe reported plans to build its first large-scale green hydrogen production plant in Baden-Württemberg in October 2023 . The facility, with an installed capacity of 10 MW, is expected to produce up to 4 tonnes of green hydrogen per day and is expected to be operational in the second half of 2024. The company also plans to build a plant in Lubmin, Mecklenburg-Vorpommern, with a capacity of 330 tons of green hydrogen per day to be commissioned in 2029, and a plant in Brake, Lower Saxony, with a capacity of 10 MW.

3. Spain: In November 2023, the company announced the development of a green hydrogen plant with a capacity to produce 5 tons of green hydrogen per day), for which it received a grant of up to EUR 14 million (USD 15 million) from H2 Pioneros, with production targeted for 2026.

4. UK: In February 2024, Lhyfe announced the development of its first UK plant (Lhyfe Wallsend) with an initial capacity of 20 MW, with the support of Shepherd Offshore, a marine and energy services company.

In April 2024 , Lhyfe launched the first Green Hydrogen Marketplace on its online portal, Lhyfe Heroes. This marketplace will enable buyers with their own hydrogen transport solutions and producers of clean hydrogen to cooperate in Europe on a single map.

Key customers and partnerships

Lhyfe operates in 12 European countries including France, Germany, Belgium, and Denmark, with several projects in the pipeline. The company has also entered into several development, supplier, and customer partnerships.

In November 2023, Lhyfe reached an agreement with HYmpulsion, a provider of hydrogen refueling stations, to supply several of its sites with green and renewable hydrogen generated at a new production site in Le Cheylas for a period of ten years.

In November 2023, Copenhagen Infrastructure Partners, Flexens, and Lhyfe formed a partnership to develop and build an integrated energy island solution to enable large-scale offshore wind and green hydrogen production in Åland, Finland. In January 2024 , Lhyfe signed an MoU with the UK's Source Galileo to establish commercial-scale green hydrogen production facilities in the UK and Ireland. A month later, it partnered with SAF+ International Group, a producer of e-SAF (electro-sustainable aviation fuel), to produce e-SAF from green and renewable hydrogen at a production site in Le Havre, France, with a commercial launch planned for 2030.

Lhyfe has also signed several corporate power purchase agreements such as with EDP Renewables (January 2024), Kallista Energy (October 2023), and VSB Energies Nouvelles (September 2023), to strengthen its European network of renewable electricity supply partners.

Funding and financials

Lhyfe's latest funding was in December 2023 , when the company secured a EUR 28 million (~USD 30.5 million) funding package from several banks, including Crédit Agricole Group, BPCE Group, HSBC, and Crédit Mutuel Océan. Lhyfe intended to use the funds to build and operate additional production units.

In May 2022, the company was listed on the regulated market of Euronext in Paris.

Hydrogen Economy

Hydrogen Economy

Key stats
Featured companies
66
Total funding (USD)
9.5 Bn
Total addressable market (USD)
128.7 Bn
Key competitors
 
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EDGE Insights

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Recent Updates

Product updates
Apr 23, 2024
Lhyfe launches first digital marketplace for green hydrogen
Hydrogen Economy
Funding
Mar 18, 2024
Lhyfe receives EUR 149 million grant to develop green hydrogen production plant
Hydrogen Economy
Partnerships
Jan 22, 2024
Lhyfe and Source Galileo partner to develop green hydrogen production units in UK and Ireland
Hydrogen Economy
Funding
Dec 12, 2023
Lhyfe raises EUR 28 million in funding
Hydrogen Economy
Geographic expansion
Oct 12, 2023
Lhyfe begins construction of first green hydrogen production plant in Germany
Hydrogen Economy

Company Brief


HQ location:
Nantes FRA
Founded year:
2017
Employees:
101-250
Total Funding:
USD 280.5 million
Last Funding
USD 162.0 million, Mar 2024

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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