(CercleFinance.com) – Lhyfe announced on Tuesday that it has acquired a 49% stake in the capital of Finland’s Flexens, which specializes in the development of green and renewable hydrogen projects.
The French group – which is seeking to accelerate its growth in the Nordic countries – explains that it will thus be able to rely on a team of 19 developers and experts, with an excellent network in Finland and Northern Europe.
Since 2018, Flexens has developed significant skills in energy system modeling and project development and currently has a commercial pipeline with a total capacity of more than 1.5 GW in Finland and abroad.
Lhyhe points out that this first investment illustrates its desire to develop rapidly in countries focusing on green and renewable hydrogen.
The financial terms of the operation were not disclosed, but the market seemed to appreciate this merger since Lhyfe won more than 8% Tuesday morning on the Paris Stock Exchange.