French hydrogen producer Lhyfe has completed its first crowdfunding campaign. Through the platform Lita.co, around 1,200 private individuals participated with contributions ranging from €300 to €75,000. A total of €2.5 million was raised. The funds will be used for four existing or planned production sites in France and Germany.
According to Lhyfe, this is the first successful crowdfunding campaign in the European hydrogen sector. The average participation in comparable campaigns on Lita.co is around 320 people and €0.5 million. Lhyfe significantly exceeded these figures.
The investors receive a fixed-interest bond in return for their participation. The aim of the campaign was to directly involve citizens in the energy transition and to promote local production of green hydrogen. “We believe it is important to give citizens the opportunity to take part in the development of this new, clean energy source,” said Lhyfe founder and CEO Matthieu Guesné.
Lhyfe currently operates four onshore production sites in France and Germany with a total capacity of over 20 megawatts. Daily production amounts to up to nine tonnes of green hydrogen. Another site with a capacity of 100 megawatts is in the planning stage. In 2024, the company quadrupled its revenue compared to the previous year, reaching €5.1 million.
To finance its expansion, Lhyfe relies on a combination of equity, subsidies and bank loans. Since its founding in 2017, the company has raised around €184 million in equity. In addition, approximately €240 million in subsidies have been secured, including €149 million for the 100-megawatt “Green Horizon” project near Le Havre. A further €78 million has been secured through bank financing.
Lhyfe was founded in 2017 and is active in twelve European countries. The company currently employs nearly 200 people. It operates, among other things, the world’s first industrial hydrogen plant directly connected to a wind farm, as well as an offshore pilot plant for hydrogen production.
