Lhyfe, one of the world’s pioneers in the production of green and renewable H₂ for transportation and industrial applications, announces it has successfully closed a €28-MM financing package with its banking partners.

Complementing a sound financial structure (€127.7 MM of cash and cash equivalents as of 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 €22.2-MM green syndicated bank loan, indexed to Euribor, with a 5-yr 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 2 yr.
• Two fixed-rate financing lines granted by Bpifrance for a total of €5.8 MM, with 8 yr and 15 yr 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 H₂ in Europe, by deploying green H₂ sites to decarbonize industry and mobility. By 2025, Lhyfe’s ambition is to be a major player for bulk green H₂ production both in France and Germany. With two new up to 2 ton/d 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 said, “We are very proud to have arranged this first syndicated green financing for Lhyfe, which becomes the first green and renewable H₂ player in France to sign such a deal. In the nascent industry of large-scale green H₂ 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 it becoming a leading player in the renewable H₂ 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.