The company reported over 370 hydrogen deliveries in France, Germany and Sweden – double the number from H1 2024, representing 22MW of installed capacity across its sites.

Backed by a €65m ($70m) cash position and a 9.3 GW project pipeline, Lhyfe expects its full-year 2025 revenue to double in comparison to €10m ($10.8m) in 2024.

However, losses also widened as the company continues to absorb the costs of scaling up. Its net loss deepened to €21.7m ($23.4m) from €14.0m ($15.1m) a year earlier, with operating losses rising to €19.8m ($21.4m) as depreciation, amortisation and transport expenses increased.

Adjusted EBITDA remained negative at €13.2m ($14.3m), while external expenses climbed to €7.5m ($8.1m) (from €5.9m ($6.4m)) on higher hydrogen logistics costs.

“We have intensified our deliveries, strengthened our presence in Europe, and initiated the construction of two additional plants to increase our production capacity,” explained Lhyfe Founder, Chairman, and CEO, Matthieu Guesné.

Lhyfe is building two new hydrogen plants in France, a 5MW unit at Croixrault and a 10MW facility at Le Cheylas.

“This growth trajectory confirms the strength of our roadmap and reinforces our confidence in our ability to respond with agility and efficiency to rapidly increasing demand,” Guesné continued.

Looking ahead, the firm is preparing for a final investment decision (FID) on its 100MW Green Horizon project in Normandy, France, in 2026.