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Lhyfe raises EUR 28 million in funding
Hydrogen Economy
Dec 12, 2023
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Hydrogen Economy

Hydrogen Economy

Dec 12, 2023

Lhyfe raises EUR 28 million in funding

Funding

  • Lhyfe, a French developer and supplier of green hydrogen solutions, has 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. The package includes a EUR 22.2 million (~USD 24.2 million) green syndicated bank loan and two fixed-rate financing lines worth EUR 5.8 million (~USD 6.3 million) granted by Bpifrance. This brings the company's total funding to USD 116 million.

  • Lhyfe intends to use the funds to establish and operationalize additional production units.

  • Lhyfe’s intends to establish a strong presence in France and Germany, with a projection of having several production sites up by 2025. As such, the company recently inaugurated two production sites in France and has five others under construction in France and Germany. 

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