Green hydrogen developer Lhyfe has successfully closed a €28 million financing package with its banking partners, marking a significant milestone in the burgeoning field of renewable hydrogen production.
The financing arrangement comprises a €22.2 million green syndicated bank loan, indexed to Euribor, featuring a 5-year maturity and a bullet repayment structure. The green facility agreement, orchestrated by Crédit Agricole Group, garnered support from BPCE Group, HSBC, and Crédit Mutuel Océan, with an option to increase the amount within a two-year timeframe.
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Additionally, the package includes two fixed-rate financing lines from Bpifrance, totaling €5.8 million, with maturities of 8 and 15 years respectively.
Lhyfe, leveraging its robust commercial portfolio, aspires to position itself as a key player in green hydrogen production across Europe. Focused on decarbonizing industry and mobility, the company aims to be a major contributor to bulk green hydrogen production in both France and Germany by 2025.
The industrial scale-up is already in progress, highlighted by the recent inauguration of two new up to 2 tonnes/day production sites in France, with five additional sites currently under construction primarily in France and Germany.
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Maria Pardo Saleme, Lhyfe's Chief Financial Officer, expressed pride in securing the syndicated green financing, making Lhyfe the first green and renewable hydrogen player in France to achieve such a milestone. Saleme emphasized that the financing not only reflects the support and trust of banking partners but also positions Lhyfe to pursue its strategic objectives amidst the accelerating industrial scale-up.
The funding secured will play a crucial role in facilitating Lhyfe's continued development, construction, and operation of production units, further solidifying its trajectory to become a leading force in the renewable hydrogen production sector.
