Lhyfe targets full capacity at Bouin by year end after reporting project-related half-year losses

Lhyfe’s consolidated loss fell to -€15.9m in the six months to the end of June which it attributed to the continued acceleration of investments in its projects and production sites and interest from short term investments.

It marked a further €2m loss year-on-year (€13.9m). However first half revenues were in the black, at €0.4m, mainly consisting of sales of green hydrogen produced at the Bouin site, its sole production site to date.

On the basis of the planned commercial ramp-up in the Bouin, Lhyfe targets revenues around €1m, underpinned by the signing of several commercial contracts with new clients, enabling the site to operate at full capacity by the end of the year, according to a market statement. Other projects continue to be developed.

Sealhyfe, the world’s first offshore green hydrogen production pilot, after its commissioning at quay in September 2022, has been towed 20km out into the Atlantic and successfully connected to the floating turbine of SEM-REV offshore testing site.

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