Posted on 02 Oct 2023
The European market environment continues to support the uptake of renewable hydrogen thanks to the bloc’s REPowerEU proposal, French green hydrogen producer Lhyfe says in its H1 2023 earnings report monitored by Kallanish.
The energy independence scheme targets the production of 10 million tonnes/year of green hydrogen in the European Union by 2030, which the company sees as a major growth driver.
Lhyfe’s main ambition is to become a major hydrogen supplier in the mobility sector in France and Germany by 2025. Its first French production site in Bouin will be operating at full capacity by the end of 2023 to respond to growing demand from its clients, it says.
The company plans to increase its production capacity to up to 4 t/day by year-end, compared to 300 kilograms produced at the end of 2022. It aims to reach a daily output of up to 22 t by the end of next year and up to 80 t by the end of 2026.
Its projects under construction represent a total installed capacity of 34 megawatts, the firm says in its report. This includes facilities in Buléon (Bretagne) and Bessières (Occitanie). Each plant will be able to produce up to 2t/day of green hydrogen for 5 MW of installed capacity with commissioning expected at end-2023.
Amongst other projects in Germany, in Schwäbisch Gmünd, Lhyfe launched the construction of a 10 MW plant with a maximum capacity of 4 t/day, as well as a public refuelling station and a pipeline to supply the future H2-Aspen technology park with green hydrogen. The plant is expected to be operational in H2 2024.
“Based on the coming commissioning of the first 5 MW modular sites in France, Lhyfe confirms the strong expansion of its installed production capacity in 2023 by 14 times compared to end 2022, raising it to up to 4 t/day of green and renewable hydrogen,” the company says.
With around 600 MW of its pipeline under advanced stage of development, the company is confident regional and national policies are driving demand for green hydrogen. Reflecting new contracts, Lhyfe reported H1 revenues of €0.4m ($0.42m) mainly consisting of sales of green hydrogen produced at the Bouin site, its only operating production site to date. It also reported a €15.9m net loss compared to €13.9m a year earlier.
Source:Kallanish
