What Lhyfe does

Lhyfe is a French publicly-listed green hydrogen producer and supplier, founded in 2017 by Matthieu Guesné and headquartered in Nantes, with operations spanning 11-12 European countries and ~200 employees. The company produces green hydrogen via water electrolysis (alkaline and PEM technologies) powered by 100% renewable electricity sourced from wind, solar, hydro, and offshore wind through Power Purchase Agreements, serving industrial customers (chemicals, metallurgy, glass, microelectronics) and mobility customers (heavy-duty trucks, buses, trains, ships) across rail, road and logistics segments. With 21 MW of installed capacity across four RFNBO-certified production sites and up to 8.3 tonnes/day of output, Lhyfe is positioned as Europe's largest producer of RFNBO hydrogen from electrolysis.\n\nLhyfe's product architecture comprises three production-unit formats — Onshore Production Units (modular, containerised, stackable), On-site Production Units for ≥2 tonnes/day industrial-scale customers with pipeline delivery, and Offshore Production Units anchored by SeaLhyfe, the world's first offshore green hydrogen production pilot operating at Saint-Nazaire since 2022. Distribution is delivered through Bulk Delivery via ~70 high-performance tube trailers (300–380 bar, 380–1,000 kg, real-time telemetry, 99% service rate across 470+ 2024 deliveries) and Pipeline & On-site Supply for large industrial customers, with hydrogen offered in three RFNBO-compliant grades (3.0, 3.7, 4.5) tailored to combustion, fuel cell, and high-purity industrial uses. The Lhyfe Heroes digital platform brings together more than 55 hydrogen mobility solution providers for fleet operators.\n\nLhyfe's business model rests on multi-year offtake contracts (e.g., 10-year, 600 t/yr deal with HYmpulsion; multi-year BMW Steyr agreement), quote-based pricing not publicly disclosed, and per-kilogram billing on bulk deliveries within a 200-km radius. Revenue from green hydrogen molecule sales doubled from €5 million to €10 million in FY2025. Capital is sourced from public grants and subsidies (€149M for Le Havre via the EU IPCEI hydrogen programme, €40M EIB loan, €14.6M EU CEF Transport), equity (€118M IPO on Euronext Paris in May 2022, €2.5M crowdfunding in 2025) and asset co-ownership transactions (April 2026 sale of a majority stake in the 1.7 GW Lubmin project to PtX Development/KGAL, with Lhyfe retaining developer/operator role). Despite revenue doubling, the company reported a €21.7 million FY2025 net loss and is implementing cost-cutting measures including outsourcing of engineering and construction, while pursuing a capital-recycling strategy of selling minority stakes in plants to fund new project development.

Name

Lhyfe

Legal name

Lhyfe (société anonyme)

Website

https://lhyfe.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Lhyfe is a French publicly-listed green hydrogen producer using water electrolysis powered by renewable electricity to supply industrial and mobility customers across Europe via modular production units and a bulk container delivery fleet.

Ownership category

akta.pro rank

Product category

Green Hydrogen Production

NAICS

Turbine and Turbine Generator Set Units Manufacturing (333611), Fluid Power Pump and Motor Manufacturing (333996)

akta.pro primary industry

Hydrogen (Industrial & Mobility) (IMAEACAB)

Keywords

• Green hydrogen production
• Renewable hydrogen supply
• Water electrolysis systems
• Mobility hydrogen refuelling
• Industrial hydrogen offtake

Headquarters

HQ city

Nantes

HQ country

France

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Bulk hydrogen delivery: Sale and delivery of green hydrogen at scale using high-performance containers (300–380 bar, 380–1,000 kg capacity) to industrial and mobility customers via a logistics network spanning France, Germany, Benelux, Spain, Sweden, Denmark, and Austria.
2. Pipeline & on-site hydrogen supply: Design, build, and operation of dedicated hydrogen production units at customer sites or nearby, with secure pipeline connections for large/continuous volumes (from 2 tons/day). Includes long-term supply contracts (e.g., 10-year contract with HYmpulsion for 600 tonnes/year).
3. Project co-development and asset co-ownership: Selling minority stakes in existing or developing plants to investors (e.g., PtX Development/KGAL acquiring majority stake in Lubmin) to fund new projects domestically and internationally. Lhyfe retains operations and maintenance; investors co-fund the development phase and co-own the assets.
4. Sale of green hydrogen molecules (recurring): Core revenue from selling green hydrogen under multi-year offtake agreements to mobility (HYmpulsion, H2 MOBILITY, BMW Steyr) and industrial customers. Revenue doubled from €5 million to €10 million in 2025.
5. Public grants and subsidies: Receives significant public funding including a €149 million grant from the French government for the Le Havre Green Hydrogen Hub, €5.5M Just Transition Fund (Le Cheylas), €14.6M EU CEF Transport, €40M EIB loan (Occitanie), €2.1M Baden-Württemberg state, €4.3M ERDF, and crowdfunding via Lita.co.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Core offering

Lhyfe designs, builds, and operates modular, containerised green hydrogen production units powered by 100% renewable electricity (wind, solar, hydro, offshore wind). It produces green hydrogen via water electrolysis (alkaline and PEM technologies) and supplies it to industrial and mobility customers through bulk delivery (high-pressure tube trailers), on-site production with pipeline supply, and through a digital mobility solutions hub (Lhyfe Heroes).

Product overview

Lhyfe offers a vertically integrated green hydrogen platform rather than a single monolithic product. The foundation is a portfolio of three core production-unit architectures — Onshore Production Units, On-site Production Units, and Offshore Production Units (anchored by the SeaLhyfe pilot) — that produce green hydrogen via water electrolysis powered by 100% renewable electricity. These units feed two complementary delivery services: Bulk Delivery (via Lhyfe's ~70-strong container fleet operating at 300–350 bar) and Pipeline & On-site Supply for industrial-scale users. Output is sold in three certified grades — Renewable Hydrogen 3.0, 3.7, and 4.5 (all RFNBO-compliant) — each tailored to specific end-uses such as combustion, fuel cells, and high-purity industrial applications. Flagship sites (Lhyfe Bouin, Lhyfe Schwäbisch Gmünd, Lhyfe Wallsend) demonstrate the model at industrial scale, while Lhyfe Heroes extends the platform into a digital hub cataloguing hydrogen mobility solutions across more than 55 partner providers. All operational sites are RFNBO-certified, making Lhyfe Europe's largest producer of RFNBO hydrogen from electrolysis.

Differentiator

Problem solved

Functional benefit

Brands

• Lhyfe Heroes: Digital platform/catalogue bringing together all key players and solutions in hydrogen mobility — including hydrogen vehicle partners, refueling equipment, and services for heavy and intensive mobility sectors.
• SeaLhyfe
• Lhyfebox

Products and services

• Onshore Production Units Modular, containerised green hydrogen production units located as close as possible to renewable energy sources and points of use; hydrogen is delivered in high-pressure containers to mobility and industrial customers via Lhyfe's bulk delivery network.
• On-site Production Units Industrial-scale hydrogen production units installed near or on the customer's industrial site, supplying hydrogen for combustion or as a raw material through a dedicated pipeline. Designed for large and continuous demand from 2 tonnes/day.
• Offshore Production Units (SeaLhyfe) Offshore green hydrogen production units installed close to usage points to enable mass-scale production; SeaLhyfe is the world's first offshore renewable hydrogen production pilot platform.
• Bulk Delivery Green hydrogen delivered at scale via high-performance tube trailers operating at 300–380 bar with capacities from 380 kg to 1,000 kg; real-time telemetry enables monitoring and optimised routing across Lhyfe's network spanning France, Germany, Benelux, Spain, Sweden, Denmark, and Austria.
• Pipeline & On-site Supply Custom-designed, built and operated production units sited directly at or near customer facilities for hydrogen requirements from 2 tonnes/day, paired with secure pipeline connections for uninterrupted supply.
• Renewable Hydrogen 3.0 (RFNBO) RFNBO-compliant (Renewable Fuel of Non-Biological Origin) hydrogen for combustion testing or storage applications.
• Renewable Hydrogen 3.7 (RFNBO) Fuel cell grade D Type I, RFNBO-compliant hydrogen suitable as an energy source for fuel cells, used to produce electricity without greenhouse gas emissions for transport and stationary energy applications.
• Renewable Hydrogen 4.5 (RFNBO) High-purity RFNBO-compliant hydrogen for industrial applications including the chemical sector, metal and glass industries; fits iron reduction, combustion, heating, and controlled atmospheres for surface treatments.
• Lhyfe Heroes Digital Platform Digital hub and catalogue for hydrogen mobility solutions, bringing together more than 55 solution providers across hydrogen vehicle partners, refuelling equipment, and support services — the largest catalogue available in Europe for fleet managers and service station operators.

Quantifiable outcome

• ~1 kg CO2 per kg H2 vs 11 kg for grey hydrogen — 10x lower CO2 emissions
• +11 more outcomes

Named customers15 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

19 partnerships are on record, tiered flagship — opens german market at scale, flagship multi-year offtake partner in austria, core technology partner for compliance, flagship multi-year offtake partner, flagship co-development partner (regional energy agency), critical certification framework partner, core compliance partner, key german channel partner, flagship reference customer, local infrastructure partner in baden-württemberg, vehicle oem partner via lhyfe heroes, listed partner logo (hydrogen ecosystem), research partner for boxhy project, offshore technology partner, engineering partner (logo), renewable energy partner (logo) and industrial partner (logo).

• STRABAGflagship — opens german market at scaleStrategic or Co-development Partner · 28 May 2026Signed a strategic co-development partnership agreement to accelerate green hydrogen project development in Germany, combining Lhyfe's operational expertise as Europe's largest RFNBO hydrogen producer with STRABAG's construction and infrastructure capabilities. Aligned with Germany's transposition of RED III, which establishes binding targets for renewable hydrogen use and creates a regulated demand framework. The framework agreement may be extended to other European countries over time.
• BMW Group (Steyr R&D centre)flagship multi-year offtake partner in austriaStrategic or Co-development Partner · 30 April 2026Lhyfe signed a multi-year agreement to supply green hydrogen to BMW Group's Steyr facility in Austria for testing and validation of third-generation fuel cell systems ahead of BMW's planned 2028 commercial launch of the iX5 Hydrogen passenger car. Marks Lhyfe's first delivery to Austria.
• Atmencore technology partner for complianceTechnology or Integration · 1 May 2025Partnership to introduce Digital Product Passports for Lhyfe's green hydrogen deliveries, ensuring full traceability and setting a new standard ahead of RFNBO certification. Atmen's integrated compliance automation platform enables Lhyfe to achieve traceability with unprecedented accuracy and granularity, supporting all RFNBO-certified sites.
• HYmpulsionflagship multi-year offtake partnerChannel Partner/ Reseller/ Distributor · 18 October 2024Public-private partnership between ENGIE, Michelin, Crédit Agricole, Banque des Territoires, and Auvergne-Rhône-Alpes Region. Lhyfe signed a ten-year sales contract giving priority to supplying HYmpulsion hydrogen stations in the Alps with a volume of 600 tonnes per year (~1.6 tonnes/day). Lhyfe is the production partner for the IMAGHyNE hydrogen valley project.
• AREC Occitanieflagship co-development partner (regional energy agency)Strategic or Co-development Partner · 7 December 2023Regional Energy and Climate Agency of the Occitanie Region. Co-invested with Lhyfe in the Bessières (Lhyfe Occitanie) production site, owning 20% versus Lhyfe's 80%. Part of the €110M North–South European hydrogen corridor / Occitanie H2 Corridor project, with co-financing from EU CEF Transport (€14.6M), EIB loan (€40M), and Region (€6M).
• CertifHy (EU RFNBO Scheme)critical certification framework partnerTechnology or IntegrationCertifHy's EU RFNBO Scheme was among the first three certification schemes approved by the European Commission in December 2024. Lhyfe uses this scheme to certify its sites (Bouin, Buléon, Bessières, Schwäbisch Gmünd) as 100% renewable and EU Taxonomy-aligned.
• Tüv Südcore compliance partnerOthersOne of the first certification bodies authorised to certify companies under the CertifHy certification scheme; validates Lhyfe's RFNBO certification across its production sites.
• H2 MOBILITYkey german channel partnerChannel Partner/ Reseller/ DistributorLeading hydrogen refuelling station operator in Germany. Agreement for the supply of regional hydrogen refuelling stations from the Schwäbisch Gmünd production site, supporting decarbonisation of heavy-duty mobility in Baden-Württemberg.
• Deutsche Bahn (DB Energie)flagship reference customerStrategic or Co-development PartnerH2goesRail project: Deutsche Bahn Energie launched an innovative project in Tübingen to run hydrogen trains on renewable hydrogen, produced by a Lhyfebox and stored in a station before powering the trains. Lhyfe built and operated a first unit in Baden-Württemberg on behalf of Deutsche Bahn.
• JET H2local infrastructure partner in baden-württembergStrategic or Co-development PartnerJoint venture partner with Lhyfe for the construction of a hydrogen filling station in Schwäbisch Gmünd (part of the HyFIVE project, supported by ERDF).
• Stellantisvehicle oem partner via lhyfe heroesGTM or Marketing PartnerHydrogen-powered vehicle partner featured on Lhyfe Heroes platform offering coaches, dump trucks, refuse collection vehicles and light commercial vehicles for the hydrogen mobility transition.
• GCK Mobilityvehicle oem partner via lhyfe heroesGTM or Marketing PartnerHydrogen-powered vehicle partner featured on Lhyfe Heroes platform alongside Stellantis.
• Plug Powerlisted partner logo (hydrogen ecosystem)Strategic or Co-development PartnerListed as a partner on Lhyfe's website (ecosystem logo). Industry partner in the broader hydrogen economy.
• Stockholm University (Department of Ecology, Environment and Plant Sciences)research partner for boxhy projectStrategic or Co-development PartnerResearch partner for BOxHy project in the Baltic Sea with Lhyfe and Flexens, exploring how offshore hydrogen production could help reoxygenate marine ecosystems and improve water quality.
• Flexensresearch partner for boxhy projectStrategic or Co-development PartnerPartner with Lhyfe and Stockholm University on BOxHy project in the Baltic Sea focused on ocean reoxygenation via offshore hydrogen production.
• Ideoloffshore technology partnerStrategic or Co-development PartnerListed as a partner on Lhyfe's website; partner in offshore floating wind / hydrogen technology ecosystem.
• Dorisengineering partner (logo)Strategic or Co-development PartnerListed as a partner on Lhyfe's website (logo). Energy engineering partner in the Lhyfe ecosystem.
• wpdrenewable energy partner (logo)Strategic or Co-development PartnerListed as a partner on Lhyfe's website (logo). Wind energy developer in the Lhyfe ecosystem.
• Oviveindustrial partner (logo)Strategic or Co-development PartnerListed as a partner on Lhyfe's website (logo). Industrial customer/partner.

Scale indicators13 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Nel ASA: Norwegian electrolyser and green hydrogen project developer producing and supplying green hydrogen at industrial scale in Europe. Direct competitor to Lhyfe in alkaline and PEM electrolysis for mobility and industrial offtake, with a comparable publicly listed profile and EU-focused scale-up strategy.
• ITM Power: UK-based PEM electrolyser manufacturer and green hydrogen project developer with operational sites supplying industrial and mobility customers. Direct competitor to Lhyfe in producing and delivering green hydrogen molecules to European offtakers, including refuelling station operators.
• McPhy Energy: French electrolyser specialist and green hydrogen producer with operational sites in France, Germany and across Europe. Direct competitor to Lhyfe in the same geography, with overlapping RFNBO positioning and multi-MW electrolyser deployments for industrial and mobility customers.
• Everfuel: Danish green hydrogen value-chain company producing and distributing green hydrogen for mobility across Scandinavia and Northern Europe. Comparable to Lhyfe in its focus on bulk green hydrogen supply to refuelling station operators and its public-company capital structure.
• HDF Energy: French developer of hydrogen-power plants and green hydrogen infrastructure listed on Euronext. Comparable to Lhyfe as a French publicly listed hydrogen pure-play targeting industrial and mobility off-takers, with overlapping RFNBO/regulatory positioning.

Broad incumbents

• Plug Power: US-headquartered green hydrogen and fuel-cell incumbent active across production, distribution, and end-use applications. Listed as a Lhyfe ecosystem partner and competes broadly in green hydrogen generation, refuelling infrastructure and fuel-cell mobility in Europe and globally.
• Air Liquide: Global industrial gas major with a large hydrogen business (production, distribution, and infrastructure) that overlaps with Lhyfe in supplying industrial customers and operating large-scale hydrogen assets. Acts as a broad incumbent rather than a green-only specialist.
• Iberdrola: Global renewable energy utility with significant green hydrogen ambitions in Spain and Europe, including large-scale electrolysis projects. Comparable to Lhyfe as a major European green-hydrogen player, but with a much broader portfolio spanning renewables, grids and customer solutions.

Emerging players

• Ballard Power Systems: Canadian fuel-cell manufacturer serving heavy-duty mobility, rail, marine and stationary applications. Comparable to Lhyfe as a downstream ecosystem participant whose fuel-cell demand directly affects Lhyfe's hydrogen offtake potential in mobility segments.
• Hexagon Purus: Norwegian hydrogen storage and distribution systems specialist supplying Type 4 high-pressure tanks and distribution solutions. Comparable to Lhyfe as a complementary player in the hydrogen distribution and mobility infrastructure value chain, including tank/container technologies similar to Lhyfe's tube-trailer fleet.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/lhyfe
• Xx.com/Lhyfe_hydrogen
• Facebookfacebook.com/LhyfeHydrogen

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds7 records

Investors15 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lhyfe