LHYFE: Lhyfe signs a 4-year green hydrogen offtake contract with INOCEL to fuel and support the development and production of its fuel cell power generation solutions

• Contract to supply up to 140 tonnes of hydrogen over 4 years

• Shared objective: decarbonizing mobile and stationary power generation and mobility

• Expansion of Lhyfe's customer portfolio with INOCEL, an industrial pioneer in fuel cells and turnkey power generation solutions

• By supplying INOCEL, Lhyfe is contributing to the decarbonisation of mobile and stationary electricity generators

Nantes (France), 4 March 2025, 7:30 am - Lhyfe (Euronext Paris - FR0014009YQ1 - LHYFE), one of the world's pioneers in the production of green and renewable hydrogen to decarbonize industry and mobility, announces the signing of a major contract with INOCEL covering the supply of up to 140 tonnes of green hydrogen over a period of four years for the test benches of high-power fuel cells manufactured by INOCEL.

Since the beginning of 2025, Lhyfe has been supplying green hydrogen to INOCEL's plants in Belfort (Burgundy-Franche-Comté region) and Saint-Égrève (Auvergne-Rhône-Alpes region). This green hydrogen powers the test benches of INOCEL's fuel cells, which are the most powerful in the world (300 kW). With a 60% energy efficiency, these fuel cells offer competitive operating costs compared to diesel.

By recombining hydrogen and oxygen molecules, fuel cells generate electricity without releasing CO2 - only water. High-power fuel cells such as those currently being developed by INOCEL can meet the growing need for clean mobile and stationary electricity generation. This includes hydrogen-powered generators for off-grid sites (events, construction sites, ports, etc.), industrial facilities and buildings requiring a stable power supply (data centres, hospitals, office buildings and banks) as well as for the maritime sector and heavy land mobility.

This contract reinforces the joint commitment of Lhyfe and INOCEL to the energy transition. By relying on green hydrogen, the two companies intend to promote sustainable energy solutions and accelerate the decarbonization of critical industrial sectors, particularly stationary applications and mobility.

Jules Billiet, Managing Director of INOCEL: "This strategic partnership with Lhyfe guarantees us a reliable supply of green and renewable hydrogen for our test benches and production tests. It reaffirms our commitment to providing zero-emission solutions for mobile and stationary power generation and mobility applications."

Matthieu Guesné, Founder and CEO of Lhyfe: "This contract marks another essential step in our mission to make green hydrogen widely available. We are proud to supply INOCEL, a pioneer in the fuel cells industry. By working with INOCEL, we are contributing to the growth of high-power fuel cells which represent a major technological and sustainable advance in the stationary power generation, marine and mobility sectors".

About Inocel
INOCEL is an innovative French company specializing in the design and development of high power hydrogen fuel cell systems. Its expertise includes the development of fuel cell technologies and their integration into a complete system.
Thanks to its expertise and a network of strategic partners, INOCEL offers a complete, integrated turnkey solution covering the entire value chain of mobile and stationary power generation applications: from design and manufacture to integration and marketing. Its integrated fuel cell systems ensure reliable, high-performance production of carbon-free electricity.
INOCEL's raison d'être is to meet the energy challenges of our time by offering sustainable energy and mobility solutions that are efficient and environmentally friendly. The company aims to make hydrogen energy more accessible and widely used, especially in sectors where batteries are insufficient. INOCEL has quickly positioned itself as a key player in the energy transition.
Located in France, INOCEL has three strategic sites: an R&D center in Grenoble, a site in Nice focusing on technology integration and a Gigafactory in Belfort, an important location in the hydrogen industry, capable of producing thousands of units per year.

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 seek to provide access to green and renewable hydrogen in industrial quantities, and enable the creation of a virtuous energy model capable of decarbonizing 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, it inaugurated the first offshore green hydrogen production pilot platform in the world.
Since then, it has installed three new sites and currently has several sites under construction or expansion across Europe.
Lhyfe is represented in 12 European countries and had 201 staff at the end of 2024. The company is listed on the Euronext market in Paris (ISIN: FR0014009YQ1 - LHYFE).
More information on Lhyfe.com

Contacts

Lhyfe - Business press relations Nouvelles Graines Clémence Rebours [phone] [e-mail]	Lhyfe - Financial press relations ACTUS Manon Clairet [phone] [e-mail]	Lhyfe - Investor relations LHYFE Yoann Nguyen [e-mail]
INOCEL - Presse relations Sophie Pernel [e-mail]

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