Renewables: the green hydrogen pioneer Lhyfe has successfully completed its IPO

Lhyfe recently successfully completed its IPO on Euronext in the Paris stock market. The startup from Atlantic France is growing at full speed and aims to become the European leader in the field of sustainable hydrogen production.

Created in Nantes in 2017, Lhyfe has raised €85 million since then to help accelerate its development. The independent pure player, which specialises in the production of green hydrogen, decided to take a new step forward by launching an Initial public offering (IPO) on the Euronext stock market. 

The company’s capital has completed in May a share capital increase of €110 million, potentially increasing to €124 million in case of full exercise of the over-allotment option.

4.8 GW of sustainable hydrogen

Lhyfe sets up green hydrogen production units that use power produced from renewable energies. Since last September, the company has been running the world’s first site in Bouin (Atlantic France). Located next to a wind farm, it can produce 300 kg of green hydrogen per day and production is set to triple in 2023.

The company currently has an order book representing more than 90 projects in 10 different countries for a total power capacity of 4.8 GW. The objective is to reach an installed capacity of 200 MW by 2026.

Strategic international business deals

Alongside its IPO, Lhyfe has continued to announce strategic alliances, such as with wpd Offshore for a project in Sweden and with EDP Renewables, which is a subsidiary of the Portuguese group Energias and the world’s fourth largest wind energy producer.

Thanks to this milestone in Lhyfe’s history, we now have stronger financial resources and new partners to provide a new impulse to our development and roll out deployment of several green production sites throughout Europe to contribute to CO₂ emissions reduction in industry and mobility and to strengthen Europe’s energy independence, notably in accordance with RepowerEU plan […] Our ambition is to make Lhyfe one of the leading green hydrogen producers in Europe.

Matthieu Guesné, founder and CEO of Lhyfe

See also: Ecological hydrogen: the development of Lhyfe starts off with a bang!