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COINTURK FINANCE > Business > Lhyfe Secures Major Funding for Green Hydrogen Facility in Le Havre
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Lhyfe Secures Major Funding for Green Hydrogen Facility in Le Havre

Overview

  • Lhyfe receives €149M for a new green hydrogen facility.

  • The project targets local decarbonisation near Le Havre.

  • Funding advances industrial capacity and renewable investments.

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Lhyfe, a French company specializing in renewable hydrogen production, embarks on a new phase with significant financial backing. The company’s objectives extend beyond the national borders, aiming to improve regional industrial sustainability with its upcoming project. Original perspectives emerge as Lhyfe integrates diverse ideas on how renewable energy solutions can serve local communities.

Contents
How will the project affect local industry?What benefits arise from the grant?

How will the project affect local industry?

What benefits arise from the grant?

Reports from various European sources indicate that similar initiatives have received attention over time, with earlier briefings suggesting potential government support. Recent clarifications now confirm that a €149M grant is allocated to propel this green hydrogen endeavor near the Grand Canal in Le Havre, situating the project as a central part of regional decarbonization efforts.

Lhyfe’s planned facility, dubbed “Green Horizon,” is designed to produce up to 34 tonnes of green hydrogen each day. The project has been identified as a crucial element within the Important Projects of Common European Interest framework, supporting future energy initiatives. This step is positioned to contribute to the broader national target of advancing hydrogen capacity by 2030.

The French government has endorsed the project during a visit to Le Havre, confirming a substantial public grant. A contract signed with Bpifrance details an advance payment of €18M, with further sales milestones and reimbursements planned over four years. The funding is set to cover both previous investments and to launch new development phases.

The company operates multiple production sites in France and Germany, having completed its first facility in 2021. Its operational footprint now includes four major sites, and it supplies green hydrogen directly to a diverse range of clients across Europe. Proximity to Yara’s industrial site further reinforces the industrial and logistical rationale behind the plant’s location.

We are proud to receive this grant, which reflects a strong vote of confidence from the French government and European Commission. It also recognizes our ability to invest heavily and rally renowned international partners around our ambitions.

By contributing to the decarbonisation of the Le Havre industrial-port area starting in 2029, the Green Horizon project marks a crucial milestone. Lhyfe will surpass the 100 MW threshold in installed electrolysis capacity, representing a significant industrial progression.

The project is expected to set an economically viable example for large-scale hydrogen production using water electrolysis. The initiative aligns with strategies designed to limit emissions and stimulate investments in renewable energy infrastructures. Insights drawn from the ongoing industrial policy efforts suggest that the facility could boost local industry, support job creation, and stimulate further innovation in the hydrogen sector.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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