LHYFE: Lhyfe receives from the French government a grant of up to EUR 149m for large-scale production of green hydrogen near Le Havre in France

Nantes (France), 18 March 2024, 5:40 p.m. - Lhyfe (EURONEXT: LHYFE), one of the world's pioneers in green and renewable hydrogen production, has received confirmation from the French government of a financial support in the form of a grant of up to €149 million for the construction of a green hydrogen production plant with an installed electrolysis capacity of 100 MW near Le Havre. This project, led by Lhyfe for over two years, has been approved by the European Commission as part of the third wave of IPCEI (Important Projects of Common European Interest) on hydrogen.

During its visit today to Le Havre for the 7th "Rencontres de l'Axe Seine", Roland Lescure, French Delegate Minister for Industry and Energy, confirmed the French government's support of up to €149 million for Lhyfe's project, at the heart of Le Havre's low-carbon industrial zone.

With this project, Lhyfe intends to produce up to 34 tonnes of green hydrogen per day near the Grand Canal du Havre, one of Europe's largest industrial port areas. This support from the French government confirms Lhyfe's status as a key player in the renewable hydrogen industry, and its confidence in the know-how and expertise of Lhyfe's teams, pioneers in the industry.

The site is close to the Yara plant in Le Havre, whose decarbonization roadmap includes the use of green hydrogen. Yara is interested in and supports Lhyfe's project, and will explore with Lhyfe all possible collaborations to decarbonize its industrial process.

The Lhyfe production site, to be located on a 2.8-hectare plot of land in Gonfreville-l'Orcher, is scheduled to be operational by 2028.

For Matthieu Guesné, Founder and Chief Executive Officer of Lhyfe: "We are honored by the government's significant support for Lhyfe's project to build the future green hydrogen production site at Gonfreville-L'Orcher, which is a concrete expression of the decarbonization policy France has been pursuing for several years. This announcement is a mark of confidence in Lhyfe and its expertise, and a true recognition of the work accomplished. This project meets the challenges of the industrial port zone of Le Havre: a 100 MW site, capable of producing up to 34 tonnes of decarbonated hydrogen per day. It is towards this greener horizon that this plant is leading us! The region's needs are present and massive, and we can meet them right now with a clean, mature and appropriate technology."

This project has been selected by the French government as part of the third wave of the IPCEI hydrogen program approved by the European Commission. IPCEI are transnational meta-projects identified as strategic for the European Union.

Implementation of this project is subject to the granting of operating authorizations, construction permits as well as final financial investment decisions by Lhyfe and its main partners.

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 1^st industrial-scale green hydrogen production plant in the world to be interconnected with a wind farm. In 2022, it inaugurated the 1^st offshore green hydrogen production pilot platform in the world. In 2023, it inaugurated its 2^nd and 3^rd sites, and currently has several sites under construction or expansion across Europe.
Lhyfe is represented in 12 European countries and had 195 staff at the end of December 2023. The company is listed on the Euronext market in Paris (ISIN: FR0014009YQ1 - mnemonic: LHYFE).
More information on Lhyfe.com

Contacts

Lhyfe - Investor relations LHYFE Yoann Nguyen [e-mail]

Lhyfe - Financial press relations ACTUS Manon Clairet [phone] [e-mail]

Lhyfe - Business press relations Nouvelles Graines Clémence Rebours [phone] [e-mail]

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