Included in the investment is company Andera Partners who aim to bolster the hydrogen economy in Europe and help harness the financial potential of the sector.

Read more: Lhyfe now producing 300kg of hydrogen daily from wind power; one-tonne scale up plans announced
Read more: Lhyfe starts producing renewable hydrogen from wind power

By supporting Lhyfe with capital. Both companies can gain from the green hydrogen production sites in the future as demand for the clean energy carrier soars across all viable sectors including mobility and industry.

Lhyfe’s unique offer is based on a turnkey renewable hydrogen production and supply model, in a short energy circuit logic: its hydrogen is produced locally, on sites powered by local renewable energies, for consumption as close as possible to customers’ needs.

The company is particularly targeting industries, local authorities and transport companies, whose needs for renewable hydrogen are tangible and exponential.

Matthieu Guesné, President and founder of Lhyfe, said, “This new financing comes at a time of strong market acceleration throughout Europe.

“We are delighted to be supported by a growing number of major players committed to the energy transition such as Andera Partners.

“Their valuable support allows us to continue to seize the opportunities that arise to help achieve the most virtuous and rapid transition possible on a European scale.”

Prune des Roches, Partner at Andera Partners, said: “Lhyfe is an extraordinary company that has managed to establish itself in a very short time against the giants of the industry. The company’s growth momentum is strong and its project pipeline is very large.

“We are very happy to support them and thus contribute to the greening of industry and mobility in Europe.”