Financial press releases

Named “Green Horizon”, this large-scale project had been selected by the European Commission to join the exclusive list of s trategic transnational projects for Europe (IPCEI)

• Following the French Prime Minister's signature, Marc Ferracci, Minister for Industry and Energy, confirmed[1] the grant as part of the presentation of the French National Hydrogen Strategy (SNH II).

• This is the largest of the three grants announced on this occasion.

• With this large-scale project, Lhyfe will pass the 100 MW milestone in installed electrolysis capacity.

• Green Horizon will help to decarbonize one of Europe's largest industrial port areas, in Normandy.

• Public support contract signed with Bpifrance for a maximum amount of €149m, with a first payment of €18m scheduled by June 2025.

Nantes (France), 17 April 2025 – Lhyfe (EURONEXT : LHYFE), a world pioneer in the production of green and renewable hydrogen for mobility and industry, announces that the French Prime Minister has officially confirmed, by signature, a €149 million grant for its future green hydrogen production plant located near the Grand Canal of Le Havre. The facility is expected to reach a capacity of up to 34 tonnes per day. The project was selected in 2022 by the European Commission as part of the third wave of IPCEI (Important Projects of Common European Interest) dedicated to hydrogen. In March 2024, the French government announced its decision to award this grant to Lhyfe, through Roland Lescure - then Minister Delegate for Industry and Energy - during a visit to Le Havre¹.

A phased public support scheme

The contract signed with Bpifrance outlines the terms of implementation for the public funding. Lhyfe will receive an initial advance of €18m by June 2025, enabling it to cover investments already made since 2022 and to launch the next stages. A second tranche will be released in the following months based on the achievement of milestones specified in the contract. Subsequent payments will take the form of reimbursements for eligible and duly justified expenses, contingent upon the successful completion of predefined annual milestones, over a four-year period and up to a maximum total amount of €149m.

Green Horizon: decarbonising one of Europe's largest industrial port areas

With the Green Horizon project, Lhyfe intends to produce up to 34 tonnes of green hydrogen per day near the Grand Canal du Havre (Normandy), one of Europe's largest industrial port areas.

This site will supply the region's needs in terms of decarbonisation of industry and mobility. The plant will be located near the Yara site in Le Havre, whose decarbonisation roadmap includes the use of green hydrogen. Yara is interested in and supports Lhyfe's project.

The Lhyfe production site, to be located on a 2.8-hectare plot of land in Gonfreville-l'Orcher, is expected to be completed by 2029 and will be one of the first large-scale production sites for decarbonized hydrogen produced by water electrolysis in France and Europe.

Completion of this project will help demonstrate the technical feasibility and economic viability of this solution, which is an essential complement to direct electrification for decarbonising economies, reducing dependence on fossil fuels and meeting the greenhouse gas emission reduction targets set out in the Paris Agreement.

This type of pioneering project must be implemented swiftly to pave the way for the larger-scale facilities needed to meet the ambitious targets for installed electrolysis capacity (4.5 GW targeted in France by 2030) and greenhouse gas emission reductions outlined in the French and European hydrogen and decarbonisation strategies.

This project has been selected by the French government as part of the call for expressions of interest on hydrogen carried out in France in 2021, integrated into the third wave of IPCEI on hydrogen in 2022 and validated by the European Commission in February 2024. IPCEI are transnational projects identified as strategic by the European Union.

For this project, Lhyfe has already submitted the building permit and the environmental authorization request. Grid connection and availability of the necessary power have been secured.

A European pioneer in green hydrogen leveraging its experience to decarbonise industry and mobility

Lhyfe is a producer and supplier of green, renewable hydrogen throughout Europe. Lhyfe has been producing and delivering green hydrogen for over 4 years with its first plant completed in 2021. It now has 4 production sites in France and Germany and is developing numerous sites throughout Europe. Lhyfe supplies customers directly, with over 470 deliveries made in 2024 to around fifty clients across 8 European countries. Lhyfe relies on a fleet of nearly 70 containers, one of the largest modern bulk hydrogen transport fleets in Europe, with a 99% service rate.

As part of the onsite Green Horizon project, hydrogen will be delivered primarily by pipeline, with a direct connection to the customer's industrial site. With two world firsts (a site directly connected to wind turbines and using seawater, and an offshore production pilot), Lhyfe is playing a pioneering role in the sector and is involved in numerous innovation projects related to current and future applications for green and renewable hydrogen.

Matthieu Guesné, founder and CEO of Lhyfe : ‘We are proud to receive this grant, which reflects a strong vote of confidence from the French government and the European Commission in a SME that is capable of innovating, meeting complex technological challenges and rapidly turning its ambitions into reality. It also recognizes our ability to invest heavily and rally renowned international partners to our side. By contributing to the decarbonization of Le Havre industrial-port area starting in 2029, the Green Horizon project marks a real turning point – one that is essential if we are to decarbonise our industrial uses on a large scale. With this project Lhyfe will surpass the 100 MW milestone in installed electrolysis capacity: a true industrial leap forward!'

About the announcement of the French National Hydrogen Strategy: ‘The release of the French National Hydrogen Strategy is excellent news for both the French and European markets. We've been looking forward to it for several months, and it now provides the clarity and long-term visibility that stakeholders across the hydrogen ecosystem need to make informed decisions and move forward. By setting a realistic production target of 4.5 GW by 2030, and supporting it with subsidies and a dedicated support mechanism for low-carbon and renewable hydrogen production, the French government is aligning its tools with its ambitions. France is home to major industry players, who will strengthen the entire value chain and position our country as European leader in the sector'.

About Lhyfe
Lhyfe is a European group devoted to energy transition, and a producer and supplier of green and renewable hydrogen. Its production sites and portfolio of projects seek to provide access to green and renewable hydrogen in industrial quantities, and enable the creation of a virtuous energy model capable of decarbonizing entire sectors of industry and transport.
In 2021, Lhyfe inaugurated the first industrial-scale green hydrogen production plant in the world to be interconnected with a wind farm. In 2022, it inaugurated the first offshore green hydrogen production pilot platform in the world.
Since then, it has installed three new sites and currently has several sites under construction or expansion across Europe.
Lhyfe is represented in 12 European countries and had 201 staff at the end of 2024. The company is listed on the Euronext market in Paris (ISIN: FR0014009YQ1 – LHYFE).
More information on Lhyfe.com

Contacts

[1] Grant announced in a press release published on 18 March 2024