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| Lhyfe and Masdar join forces to explore the co-development of major green hydrogen production projects Nantes (France), 17 January 2025 – 1:30 pm – Lhyfe (EURONEXT: LHYFE), a pioneering producer and supplier of green and renewable hydrogen for mobility and industry, and Abu Dhabi Future Energy Company PJSC – Masdar, the UAE's clean energy leader, have signed a Memorandum of Understanding (MoU) to explore potential co-development opportunities in large-scale green hydrogen production projects in Europe. The MoU was signed at Abu Dhabi Sustainability Week (ADSW) 2025 and is part of the strategy announced in 2024 by Lhyfe to co-develop projects with financial, industrial investors and experienced partners seeking to invest in green hydrogen production projects. Through this strategic partnership, the two companies aim to explore collaboration and investment opportunities across the green hydrogen value chain, with a focus on co-developing large projects. This collaboration between two of the leading pioneers in the green hydrogen space will leverage their complementary abilities and support their ambitions to drive and develop the sector. Lhyfe is one of the pioneers in the green hydrogen sector and is one of the fastest-growing players. Established in 2019, Lhyfe already has four installed green hydrogen production sites in Europe, and several other sites under construction. Lhyfe has demonstrated its industrial capacity to build and operate production sites of increased capacity. Lhyfe's pipeline of projects represents a total installed capacity of 9.5GW and includes several large-scale projects at advanced stages and ready to accelerate. Its proven record as one of the largest developers and operators of commercially active green hydrogen projects in Europe was key for Masdar's decision to enter into the MoU. Masdar is aiming for a renewable energy portfolio capacity of 100GW by 2030, supporting the target set in the UAE Consensus to triple global renewables capacity by the end of this decade, and aims to be a leading producer of green hydrogen in the same timeframe. It is targeting 1 million tonnes per annum of green hydrogen or equivalent derivatives in the UAE and globally within a decade. Mohammad Abdelqader El Ramahi, Chief Green Hydrogen Officer, Masdar, said: “Masdar is committed to advancing the development of green hydrogen around the world and we believe Europe will be a significant player in the future green hydrogen sector. This collaboration with Lhyfe will enable us to leverage our shared expertise and resources to explore pathways to accelerating development and potentially supporting our ambitious growth plans.” Matthieu Guesné, Founder and CEO of Lhyfe, said: “Masdar is one of the most important developers of renewable energies, with real expertise on green hydrogen and a strong lead in terms of deployment. This is evidenced by the large number of industry awards received since 2007 for its renewable energy projects and commitment to innovation. We have a common ambition: to decarbonize industry on a massive scale and as quickly as possible thanks to green hydrogen. By combining our complementary expertise, we want to accelerate the deployment of large sites, which have the capacity to make a difference on greenhouse gas emissions.” | ||
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About Lhyfe Lhyfe is a European group devoted to energy transition, and a producer and supplier of green and renewable hydrogen. Its production sites and portfolio of projects seek to provide access to green and renewable hydrogen in industrial quantities, and enable the creation of a virtuous energy model capable of decarbonising entire sectors of industry and transport. In 2021, Lhyfe inaugurated the first industrial-scale green hydrogen production plant in the world to be interconnected with a wind farm. In 2022, it inaugurated the first offshore green hydrogen production pilot platform in the world. In 2023, it inaugurated two new sites and currently has several sites under construction or expansion across Europe. Lhyfe is represented in 12 European countries and had 200 staff at the end of June 2024. The company is listed on the Euronext market in Paris (ISIN: FR0014009YQ1 – LHYFE). Lhyfe.com Click to access the Lhyfe Media Kit (press releases and visuals) | ||
| Contacts: | ||
| Industry Press Relations Nouvelle Graines Clémence Rebours +33 (0)6 60 57 76 43 [email protected] | Financial Press Relations ACTUS Manon Clairet +33 (0)1 53 67 36 73 [email protected] | Investor Relations LHYFE Yoann Nguyen [email protected] |
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Full and original press release in PDF: https://www.actusnews.com/news/89592-17.01.25_lhyfe-x-masdar-mou_en_final.pdf
