Lhyfe raises $19.5M primarily from Andera Partners

In France, renewable green hydrogen production company, Lhyfe, raised funds for a third time, for a sum of €17 million (about $19.5 million). The purpose of this third fundraising is to support Lhyfe’s strategy for the deployment of renewable hydrogen production sites in Europe.

Most of the funds came from Andera Partners via its new green infrastructure investment fund Andera Infra. Ovive (part of Les Saules group) and the risk capital company SFLD (Société Financière Lorient Développement) also backed Lhyfe in this fundraising.

In September 2021, Lhyfe marked a world first with the commissioning of a 2.5 MW production facility in Bouin in Vendée (France) that by 2023 will generate up to a tonne of green hydrogen a day using electricity sourced directly from a nearby wind farm, making Lhyfe one of the leading operators in a rapidly growing market.