Financial press releases

• The 15 MW green hydrogen production plant will deliver up to 5 tons of green hydrogen per day to local industrial customers

• Aim to start production in 2026

• Lhyfe is one of the pioneers of green hydrogen production in Europe with one existing production site and seven production sites under construction

Nantes (France), Madrid (Spain), 22 November 2023, 7:30 am CEST – Lhyfe (EURONEXT: LHYFE), a global pioneer in the production of renewable green hydrogen for transportation and industrial applications, announces the development of a green hydrogen plant (production capacity of up to 5 t/day) in Spain for which it has been awarded a grant of up to €14m from H2 Pioneros.

This plant will be Lhyfe's first green hydrogen production site in Spain, while 7 sites are currently under construction in Europe. Lhyfe has about 200 employees[1] dedicated entirely to renewable hydrogen production, with projects in 11 countries and a pipeline of over 10 GW[1] in Europe.

The plant will be located in an industrial area in Vallmoll (Tarragona) and will address demand for green hydrogen from different industrial companies in the area.

Potential clients include companies active in chemical and others industrial sectors which aim at replacing fossil fuels (grey hydrogen and natural gas) currently used in their production process with green hydrogen, as well as transport or logistics companies looking to replace their fleet (trucks, forklifts) with less polluting vehicles like hydrogen-powered electric vehicles.

Lhyfe's project is one of only 14 across Spain in 2023 that were awarded grant financing through H2 Pioneros[2] (out of 81 projects submitted). The grant, which will fund the design phases, the supply of equipment and the construction work, represents about half of the total estimated investment in the project, with first kilos of green hydrogen to be produced in 2026.

“We are very happy to have been awarded this grant, which we see as a clear reward of our efforts and as the recognition of our expertise in the production and delivery of green hydrogen to multiples customers over the last two years. It is also a proof of us going the right direction in Spain, and we would like to reiterate our commitment to the Spanish hydrogen strategy and welcome the fact that Spain is focusing on the rapid expansion of a hydrogen infrastructure based on renewable energies. This project will make a significant contribution towards providing competitive green hydrogen for many industrial and transport companies in the province of Tarragona. It will support our objective to increase the penetration of green hydrogen throughout Spain in other similar industrial processes", says Taia Kronborg, Chief Business Officer at Lhyfe.

The project's implementation is subject to the granting of operating authorizations and construction permits, as well as to financial investment decisions.

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 intend to provide access to green and renewable hydrogen in industrial quantities, and enable the creation of a virtuous energy model capable of decarbonising 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, Lhyfe inaugurated the first offshore green hydrogen production pilot platform in the world.
Lhyfe is represented in 12 European countries and had 192 staff at the end of June 2023. The company is listed on the Euronext market in Paris (ISIN: FR0014009YQ1 – LHYFE).
For more information go to Lhyfe.com

Contacts

[1] At the end of June 2023

[2] The H2 Pioneros Program is a funding call created in Spain to support initiatives in renewable energy, green hydrogen, and energy storage.