Lhyfe's green hydrogen would power Exogen's hydrogen steam plants and also be used in mobility applications.
Exogen to supply and service a pioneering Hydrogen Steam Plant, offering operating synergies from integrated mobility solutions powered by green hydrogen.
Jericho to supply its patented, zero-emissions hydrogen boiler technology.
Lhyfe to build and operate green hydrogen production facilities for the combined product offering, opening large new markets for growth in industrial steam and district heating.
Nantes (France) and Milan (Italy), 14/15 September 2023, 7:30 a.m. CET - Lhyfe (EURONEXT: LHYFE) and Exogen Hydrogen Solutions (Exogen) have signed a Memorandum of Understanding for the combined offering of comprehensive decarbonisation solutions for industrial steam, district heating, and mobility applications powered by green hydrogen. This partnership paves the way for a new type of ecosystem and vast markets for green and renewable hydrogen.
STRATEGIC PARTNERSHIP
The partnership includes a commercial agreement to identify potential customers across Europe. Both organisations will promote their respective products and services to the benefit of clients seeking to unlock operating synergies from integrated decarbonisation solutions.
There is growing demand by multinationals and industrial clusters targeting operating synergies from combining thermal and mobility solutions powered by green hydrogen. The mobility applications are aimed at hydrogen refilling stations for forklifts, vans, delivery trucks and cars. Thermal solutions include industrial steam, large buildings and district heating applications.
Steam production is a core component of many industrial processes with a highly valuable, continuous demand profile. Industries with a large process steam demand include pulp and paper, food and beverages, pharmaceuticals, industrial chemicals, and the oil and gas industry. Large buildings thermal applications include airports, hospitals, commercial centres, and campus heating facilities.
ON-SITE SYNERGIES
Zero emissions: Exogen offers a pioneering Hydrogen Steam Plant, the HSP 3000, featuring boiler technology by Jericho Energy Ventures, (TSXV:JEV), (OTC PINK:JROOF), (FRA:JLM). This breakthrough, zero-emissions steam plant for industrial and district heating applications is a turn-key solution. The hydrogen-powered installation is produced and serviced by industry leader Sofinter Group, and comes pre-assembled in container-sized units, shipped by road transport. It has no smokestack and eliminates all NOx and CO2 emissions from industrial steam and district heating.
The only exhaust is clean water, which is ready for circular use with Lhyfe's green hydrogen production system, further enhancing the positive environmental impact. Indeed, Lhyfe - as one of the world's pioneers in the production of green and renewable hydrogen - uses water and renewable energies to produce its hydrogen via water electrolysis.
Demand enabler: Because of its base-load hydrogen demand profile, the Exogen HSP 3000 has become a key enabler for other hydrogen applications. Once green hydrogen becomes available on-site and in industrial quantities, other applications, such as mobility, transport and logistics, become natural extensions to further decarbonise the value chain. As a result, the combined applications can unlock material operating synergies and cost advantages thanks to scale effects.
This is where the leading expertise of Lhyfe comes in. Lhyfe inaugurated its first green hydrogen production site in 2021. With five additional sites under construction throughout Europe, it aims to achieve 55 MW of installed capacity of hydrogen production by end 2024, 200 MW by end 2026 and more than 3 GW by end 2030. Through its production sites and its portfolio of projects, Lhyfe intends to provide access to green and renewable hydrogen in industrial quantities to significantly decarbonise sectors such as transport and industry (chemicals, steel, glass, etc).
Two avenues for growth: First, the partnership with Exogen can lead to significant capacity growth for the existing pipeline of projects at Lhyfe, servicing a large new end-market in industrial steam. Second, with district heating and process steam, Lhyfe is entering into two entirely new market segments, which are expected to lead to additional growth opportunities in green hydrogen production.
MANAGEMENT COMMENTS
Philippe Desorme, VP of Sales & Business Development at Lhyfe said: "Green hydrogen has become highly relevant for decarbonising industrial steam, district heating and logistics. By partnering with Exogen we expect a significant expansion of our green hydrogen production output over time, while also opening a completely new market segment for us. Therefore, we are very excited to work with Exogen and our clients to help unlock operating synergies and address new hydrogen demand."
Saverio Costanzo, CRO at Exogen said: "Decarbonising heat is the single biggest challenge in energy markets. The Exogen Hydrogen Steam Plant is a great solution for many businesses because it will permanently eliminate CO2 and NOx emissions from their incumbent production process. As a result, our clients can deliver meaningfully decarbonised products and services to their customers, unlocking new growth opportunities. In our mission to decarbonise energy applications, Lhyfe is an ideal partner; together we can serve customers across Europe with comprehensive solutions. I am very excited about the early feedback from multinationals and district heating providers for our combined offering. The future of energy applications is green, and we are right in the middle of it."
For an interview with the spokespersons above, please contact the press department.
Click to access the Lhyfe Media Kit (press kit and visuals)
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 11 European countries and had 149 staff at the end of 2022. The company is listed on the Euronext market in Paris (ISIN: FR0014009YQ1 - LHYFE).
Lhyfe.com
About EXOGEN
EXOGEN offers end-to-end hydrogen technology solutions. We are a product and service provider in the fast-expanding hydrogen value chain. EXOGEN works with highly innovative companies across industry, commerce, and the built environment to help achieve their Net Zero goals. We offer comprehensive decarbonisation solutions for industrial steam, mobility, green power, and district heating applications. The pioneering hydrogen steam plant, Exogen HSP 3000, is a zero-emissions turnkey solution for hard-to-abate sectors of the economy. Together with Park Lane, an independent financial adviser to the hydrogen ecosystem, we connect distributed green energy assets with regulated ESG funding pools. Our combined Energy-as-a-Service (EaaS) offering is allocating capital efficiently, identifying the natural owner of green energy assets and their infrastructure. As a result,
we can lower funding costs for our industry clients, while improving portfolio diversification and ESG ratings for institutional investors.
Website: https://exogen.energy/
LinkedIn: https://www.linkedin.com/company/exogen-hydrogen
| Contacts: Lhyfe: | ||
| Industry Press Relations Nouvelles Graines Clémence Rebours: +33 (0)6 60 57 76 43 c.rebours@nouvelles-graines.com | Financial Press Relations ACTUS Manon Clairet +33 (0)1 53 67 36 73 mclairet@actus.fr | Investor Relations LHYFE Yoann Nguyen investors@lhyfe.com |
| EXOGEN Saverio Costanzo Director EXOGEN Hydrogen Solutions Phone: +39 342 753 3946 saverio@exogen.energy | ||
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