EU market supports green hydrogen uptake

The energy independence plan aims to produce 10 million tonnes/year of green hydrogen in the European Union by 2030 and the company sees this as an important growth driver.

Lhyfe's main goal is to become a major hydrogen supplier in the mobility sector in France and Germany by 2025. The first French production site in Bouin will operate at full capacity by the end of 2023 to respond to growing demand from its customers.

The company plans to increase its production capacity from 300 kilograms at the end of 2022 to 4 tonnes per day by the end of the year. It aims to reach 22 tonnes per day by the end of next year and 80 tonnes by the end of 2026.

In its report, the company states that its projects under construction represent a total installed capacity of 34 megawatts. This includes plants in Buléon (Bretagne) and Bessières (Occitanie). Each plant will be able to produce up to 2 tonnes/day of green hydrogen for an installed capacity of 5 MW, which is expected to be commissioned by the end of 2023.

Among other projects in Germany, in Schwäbisch Gmünd, Lhyfe has started construction of a 10 MW plant with a maximum capacity of 4 tonnes/day, as well as a public refuelling station and a pipeline to supply green hydrogen to the future H2-Aspen technology park. The plant is expected to be operational in the second half of 2024.

"Based on the commissioning of the first 5 MW modular plants in France, Lhyfe confirms that in 2023 it will increase its installed production capacity by 14 times compared to the end of 2022 to 4 t/day of green and renewable hydrogen," the company said.

With around 600 MW of the pipeline in advanced development, the company is confident that regional and national policies will increase demand for green hydrogen. Reflecting the new contracts, Lhyfe reported revenues of €0.4 million ($0.42 million) in the first half, the majority of which came from the sale of green hydrogen produced at Bouin, its only production facility in operation to date. The company also reported a net loss of €15.9 million, compared with a net loss of €13.9 million a year earlier.