Lhyfe has secured €53m ($60m) in debt financing to develop a portfolio of green hydrogen production sites in France and Germany.
The financed asset portfolio includes two operational sites in Buléon, France, and Schwäbisch Gmünd, Germany, plus two under construction in Le Cheylas (Isère) and Somme, representing a combined electrolysis capacity of 30MW.
The deal completes Lhyfe’s existing funding package, which already includes equity and €19m in grants. Part of the new funds will reimburse Lhyfe for capital it has already spent on developing the four hydrogen sites, while the rest will fund the remaining developments.
The funding has been structured as a mix of bonds and senior loans due in 2034 from Edmond de Rothschild Asset Management, Triodos Bank, and Sienna Investment Managers.
Additionally, a €10m bridge short-term loan has been included to cover grant disbursements and VAT, secured from BPCE Group via BPCE Energeco, BPGO, and Otoktone.
Maria Pardo Saleme, Lhyfe’s Chief Financial Officer, said the deal marks the first time a green hydrogen company in Europe has secured this type of financing.
According to the French company’s statement, Lhyfe has 22MW of installed electrolysis capacity, a strong commercial pipeline and a fleet of 70 hydrogen containers in operation.
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