Lhyfe wants to rely on the Stock Exchange to become a major player in green hydrogen


(BFM Bourse) – Green hydrogen is popular. Lhyfe wants to take advantage of this enthusiasm for green energy to go public. This call for tenders will enable the Nantes start-up to establish itself as an independent European leader on the green hydrogen market. The company hopes to join Haffner Energy, another player in the energy transition, listed on the stock market last February.

After the printed circuit board specialist Icape on Wednesday, it’s Lhyfe’s turn to announce its IPO project. The producer and supplier of renewable green hydrogen announced this week the approval of its registration document by the Financial Markets Authority (AMF) for an entry on Euronext Paris.

Created in 2017 in Nantes, Lhyfe is a producer and supplier of renewable green hydrogen for mobility and industry. Made from the electrolysis of water, green hydrogen is a major pillar of the energy transition. It plays a key role in reducing CO2 emissions and thus supporting the decarbonization of industry and mobility by replacing carbon gray hydrogen and fossil fuels.

The green hydrogen produced by Lhyfe comes from local and decentralized production units, in direct connection with renewable energy parks when possible. It is sold directly to the end user, including mobility players (cities, carriers, logistics platforms, etc.) and industrialists in the chemical (ammonia and methanol production), steel or glass.

A presence in 10 countries

The company is already present in 10 countries (France, Germany, Belgium, Netherlands, Denmark, Sweden, Finland, Norway, Spain and Portugal). It inaugurated its first industrial site for the production of green hydrogen in September 2021.

Lhyfe currently has a commercial pipeline made up of 93 projects, spread over 11 countries and whose production start date is between 2022 and 2028. In addition, the group has been engaged since 2019 in a research program which should lead to the entry into the test phase in real conditions of the world’s first floating electrolyser connected to a floating wind turbine at the start of the 2022 academic year.

The management of Lhyfe aims to “assert itself as a major player in the decarbonization of the heavy mobility and industrial sectors and to become an independent European leader in the green hydrogen market”. To this end, the Nantes start-up is developing “a strategy based on a rapid and massive deployment of onshore green hydrogen production sites in order to develop units that can reach up to several hundred MW beyond 2025. .”

Based on the 93 projects currently in its commercial pipeline, representing a total installed production capacity of more than 4.8 GW (i.e. a production of green hydrogen of more than 1,615 tons/day), Lhyfe has set itself as objective of having a total installed capacity of 55 MW by 2024 from onshore units only.

A turnover of around 200 million euros expected by 2026

Lhyfe aims to deploy a total installed capacity of 55 MW by 2024 and to achieve, for the 2026 financial year, a consolidated turnover of around 200 million euros with a group EBITDA at breakeven, based on a total installed capacity of 200 MW.

By 2030, the company has set itself the objective of positioning itself as a benchmark player in the green hydrogen production sector and more specifically to have a total installed capacity of more than 3 GW. In the long term, Lhyfe is aiming for a group EBITDA margin above 30%.

Sabrina Sadgui

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