French green hydrogen player Lhyfe has today (March 22) revealed losses while growing its project pipeline in its full year results for 2022.
The company announced it had doubled its commercial pipeline to a total of 9.8GW of production capacity at the end of 2022, with 1MW of electrolysis capacity in operation, 4.1GW of projects at the advanced development stage and 5GW at the early stage.
Last year saw the Lhyfe’s revenue increase to €570,000 ($615,200) from €197,000 ($212,600) in 2021. However, its 2022 net losses totalled €25.8m ($27.8m) up from €8.7m ($9.3m) in 2021, including a €6.6m ($7.1m) loss comprising of interest expense, foreign exchange loss, and the accounting discount for the convertible bonds converted as part of its IPO.
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