Financial press releases

• The first corporate syndicated facility amid green and renewable hydrogen players in France

• A green loan structure, fully aligned with Lhyfe's commitments

• Confirmed support and trust in Lhyfe's growth strategy from its banking partners at a time when industrial scale-up is accelerating and delivery of several production sites is underway

Nantes (France), 12 December 2023, 6:15 pm – Lhyfe (EURONEXT: LHYFE), one of the world's pioneers in the production of green and renewable hydrogen for transportation and industrial applications, announces it has successfully closed a €28m financing package with its banking partners.

Complementing a sound financial structure (€127.7m of cash & cash equivalents as at 30 June 2023), the company has secured new loans for a total of €28m, strengthening its financial resources to keep supporting the deployment of its strategy.

This bank financing package consists of:

• A €22.2m green syndicated bank loan, indexed to Euribor, with a 5-year maturity and a bullet repayment. The green facility agreement was structured by Crédit Agricole Group, and supported by BPCE Group, HSBC and Crédit Mutuel Océan. It includes a clause to increase the amount, which is valid for two years.

• Two fixed-rate financing lines granted by Bpifrance for a total of €5.8m, with 8 years and 15 years maturities.

This achievement is a strong testimony of the trust and support by Lhyfe's banking partners in the roll-out of its industrial strategy. It enhances the company's financial resources to support its development, diversify its sources of funding and strengthen its balance sheet. It also represents a key milestone for the industry, which needs all public and private stakeholders' support to achieve its decarbonization ambitions.

Building on its strong commercial portfolio, Lhyfe aims at becoming one of the leaders in the production of green hydrogen in Europe, by deploying green hydrogen sites to decarbonize industry and mobility. By 2025, Lhyfe's ambition is to be a major player for bulk green hydrogen production both in France and Germany. With two new up to 2 tons/day production sites inaugurated in France this month and 5 additional sites currently under construction mainly in France and Germany, the industrial scale-up is underway.

Maria Pardo Saleme, Lhyfe's Chief Financial Officer, commented: "We are very proud to have arranged this first syndicated green financing for Lhyfe, which becomes the first green and renewable hydrogen player in France to sign such a deal. In the nascent industry of large-scale green hydrogen production, this financing reflects the support and trust of our banking partners in Lhyfe's strategy and ambitions, at a time when the industrial scale-up is accelerating. It will enable Lhyfe to go on implementing its strategy of developing, constructing and operating production units, and paves the way for its becoming a leading player in the renewable hydrogen production space.”

Lhyfe was advised in this transaction by Redbridge Debt & Treasury Advisory as financial advisor and Linklaters LLP as legal advisor. Crédit Agricole Corporate and Investment Bank acted as Bookrunner, Documentation Agent and Green Structuring Advisor, HSBC acted as Credit Agent and Watson Farley & Williams LLP acted as legal advisor to the banks.

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
Click to access the Lhyfe Media Kit (press kit and visuals

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