Lhyfe, a leader in the production of green and renewable hydrogen for transportation and industrial applications, announces it has successfully closed a €28 million financing package with its banking partners.
Complementing a sound financial structure (€127.7 million of cash & cash equivalents as at 30 June 2023), the company has secured new loans for a total of €28 million, strengthening its financial resources to keep supporting the deployment of its strategy.
This bank financing package consists of:
This achievement is a testimony of the support of Lhyfe’s banking partners in the roll-out of its industrial strategy. It enhances the company’s financial resources to support its development, diversify its sources of funding and strengthen its balance sheet. It also represents a key milestone for the industry, which needs all public and private stakeholders’ support to achieve its decarbonisation ambitions.
Building on its commercial portfolio, Lhyfe aims at becoming one of the leaders in the production of green hydrogen in Europe, by deploying green hydrogen sites to decarbonise industry and mobility. By 2025, Lhyfe’s ambition is to be a major player for bulk green hydrogen production both in France and Germany. With two new up to 2 tpd production sites inaugurated in France this month and 5 additional sites currently under construction mainly in France and Germany, the industrial scale-up is underway.
“We are proud to have arranged this first syndicated green financing for Lhyfe, which becomes the first green and renewable hydrogen player in France to sign such a deal. In the nascent industry of large-scale green hydrogen production, this financing reflects the support and trust of our banking partners in Lhyfe’s strategy and ambitions, at a time when the industrial scale-up is accelerating. It will enable Lhyfe to go on implementing its strategy of developing, constructing and operating production units, and paves the way for its becoming a leading player in the renewable hydrogen production space,” commented Maria Pardo Saleme, Lhyfe’s Chief Financial Officer.
Lhyfe was advised in this transaction by Redbridge Debt & Treasury Advisory as financial advisor and Linklaters LLP as legal advisor. Crédit Agricole Corporate and Investment Bank acted as Bookrunner, Documentation Agent and Green Structuring Advisor, HSBC acted as Credit Agent and Watson Farley & Williams LLP acted as legal advisor to the banks.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
The Winter 2023 issue of Energy Global hosts an array of technical articles weather analysis, geothermal solutions, energy storage technology, and more. This issue also features a regional report looking at the future of renewables in North America, and a report from Théodore Reed-Martin, Editorial Assistant, Energy Global, on how Iceland utilises its unique geology for renewable energy.
Read the article online at: https://www.energyglobal.com/other-renewables/22122023/lhyfe-successfully-closes-its-first-corporate-syndicated-loan-for-an-amount-of-28-million/