on LHYFE (EPA:LHYFE)
Lhyfe Records a Fourfold Increase in Revenue for H1 2024
Lhyfe, a leading producer of green hydrogen, reported a significant revenue increase in the first half of 2024. The company’s revenue soared to €1.7 million, a fourfold increase from the €0.4 million recorded in the same period in 2023. This growth was fueled by new contracts in France and Germany and the full-capacity operation of the Bouin site.
The company has secured several key contracts, including a five-year deal with H2 Mobility Deutschland, which will supply 240 tons of hydrogen annually. Additionally, Lhyfe has secured substantial grants totaling €243 million to support project development, marking a threefold increase from H1 2023.
With a solid cash position of €93 million as of June 2024, Lhyfe is well-positioned to continue its strategic growth. The company aims to quadruple its revenue for the full fiscal year and sees promising prospects in scaling its operations both in existing and new markets.
R. E.
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