The duo on Tuesday (April 12) inked a Memorandum of Understanding (MoU) to form a strategic alliance that will support Lhyfe’s plans that include geographical expansion.

Along with the MoU, Mitsui made a €10m ($10.8m) investment in the French company.

Mitsui’s investment follows the raising of €66m ($71.5m) by Lhyfe, in 2021, from Andera Partners, Swen Capital, CDC Banque des Territoires and several of its original shareholders.

Hiroshi Kakiuchi, Managing Officer of Mitsui, said, “Lhyfe has developed unique expertise in renewable green hydrogen production, as well as an ability to create ecosystems and a strong vision for the future of the sector. We are very excited to work with Lhyfe to build local and virtuous ecosystems together.”

Matthieu Guesné, CEO and founder of Lhyfe, added, “We are very proud to welcome such an important player as Mitsui as our first international partner. This partnership further confirms the interest of the market in our renewable green hydrogen.

“This agreement with Mitsui will give an important boost to our development in strategic markets internationally, to decarbonise transportation and industry quickly and on a massive scale.”

Fulling immersed in the hydrogen sector, Lhyfe, back in 2022, integrated what it says is the world’s first industrial site to produce renewable green hydrogen using power from wind turbines.

The firm is already active in 10 countries in Europe and has a sales pipeline of over 90 projects, spread across 11 countries and with production dates that start from this year (2022) and 2028.

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