Lhyfe accelerates the development of green hydrogen in Finland

Lhyfe has acquired a 49% stake in Finnish company Flexens to accelerate its growth in Finland and Northern Europe.

Share:

Comprehensive energy news coverage, updated nonstop

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

7-Day Pass

Up to 50 articles accessible for 7 days, with no automatic renewal

3 €/week*

FREE ACCOUNT

3 articles/month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 30,000 articles • 150+ analyses per week

Lhyfe is committed to the development of green hydrogen in Finland. Indeed, the latter announced to take a 49% stake in the Finnish company Flexens. The latter is specialized in the development of green and renewable hydrogen projects as well as Power-to-X projects. This is Lhyfe’s first equity investment, which shows its willingness to expand rapidly in countries that rely on these energies.

Lhyfe partners with Flexens to become a leader in green and renewable hydrogen and Power-to-X

Flexens has acquired unique expertise in energy system modeling and project development through the Smart Energy Åland program. The company now has 19 employees and aims to become a leader in green and renewable hydrogen and Power-to-X.

Finland aims to become a European leader in Power-to-X and Flexens already has a strong commercial pipeline with a total planned capacity of more than 1.5 GW in Finland and abroad. This includes a well-advanced project in Kokkola (300 MW) that will contribute to Finland’s self-sufficiency in energy and ammonia.

Strengthened collaboration to accelerate current projects and identify new opportunities

To accelerate its growth in Finland and Northern Europe, Lhyfe has decided to partner with Flexens by taking a 49% stake. The two companies have already worked together on joint projects since 2020. Today, the companies have decided to formalize their partnership in order to combine their technological skills, market knowledge and commercial pipelines to accelerate ongoing projects and identify new opportunities in Northern Europe.

Lhyfe, which inaugurated the world’s first industrial green hydrogen production site in 2021, aims to have more than 3 GW of installed capacity by 2030. The company will have 3 new industrial sites in operation by the end of 2023 and has already announced several projects throughout Europe.

A promising alliance for both companies

Lhyfe will benefit from the expertise and experience of Flexens, which has an excellent network in Finland and Northern Europe, and a project portfolio including one of the largest green and renewable hydrogen projects in Finland. By partnering with Flexens, Lhyfe will be able to accelerate its current projects and identify new opportunities in Northern Europe, especially related to large offshore projects.

For its part, Flexens will benefit from the technological expertise of Lhyfe, one of the most advanced players in the production of green and renewable hydrogen, to develop more projects, more quickly and on a larger scale.

Plug Power finalised a deal with an institutional investor to raise $370mn through the immediate exercise of warrants, with the possibility of securing an additional $1.4bn if new warrants are exercised.
Air Liquide announces a $50mn investment to strengthen its hydrogen network on the US Gulf Coast, following long-term contracts signed with two major American refiners.
Global demand for industrial gases will grow on the back of hydrogen expansion, carbon capture technologies, and advanced use in healthcare, electronics, and low-carbon fuel manufacturing.
Green ammonia reaches a new industrial milestone with 428 active projects and over $11bn in investments, highlighting accelerated sector growth across Asia, the Middle East, Europe and the Americas.
Nel Hydrogen US will supply a containerised electrolyser to H2 Energy for a hydrogen production facility commissioned by the Association for Waste Disposal in Buchs, Switzerland.
UK-based manufacturer ITM Power has signed an engineering contract for a green hydrogen project shortlisted under the country's second Hydrogen Allocation Round.
Agfa strengthens its industrial position with the launch of a ZIRFON membrane production site for electrolyzers, backed by a €11mn European subsidy.
Driven by Air Liquide and SEGULA Technologies, the ROAD TRHYP project aims to lower hydrogen transport costs and improve safety through a series of technical innovations by 2030.
Qair obtains structured bank financing of €55mn for its Hyd’Occ ecosystem, integrating renewable hydrogen production and distribution in Occitanie, with commissioning scheduled before the end of 2025.
Swedish firm Metacon has secured a EUR7.1mn ($7.7mn) contract to deliver a 7.5 MW electrolysis plant to Elektra Power SRL, marking its operational entry into the Romanian market.
The Clean Hydrogen Partnership has closed its first call for Project Development Assistance (PDA), totaling 36 applications from 18 countries. Results are expected in October, with support starting in November.
Kandla port plans a 150,000-ton-per-year integrated renewable methanol unit, targeting the growing fleet of compliant vessels on the Singapore-Rotterdam maritime route.
OMV is investing several hundred million euros in a 140 MW electrolysis unit in Austria, set to produce 23,000 tonnes of green hydrogen annually to supply its Schwechat refinery.
Jolt Green Chemical Industries appoints Dyar Al-Safwah to engineer a high-performance electrode facility at King Salman Energy Park, backed by the Ministry of Energy.
With the certification of three new sites, Lhyfe takes the lead in the European RFNBO hydrogen market, reaching 21 MW of installed capacity across France and Germany.
VINSSEN becomes a central player in designing the world’s first commercial transport vessel fully powered by a fuel cell using ammonia as a hydrogen carrier.
The global hydrogen production market is expected to more than double by 2035, supported by technological advances and growing demand from transport, heavy industry and decarbonised energy systems.
Accelera will supply a 5MW electrolysis system at the Port of Schweinfurt, aiming to produce 2.2 tonnes of green hydrogen daily for industrial and logistics applications in central Germany.
The Sauda municipal council has approved the zoning plan for the Iverson project, paving the way for a 270 MW electrolysis facility powered by hydropower to produce renewable ammonia.
Sinopec reaches a milestone in hydrogen logistics with a 1,500 km journey from Shanghai to Hubei, supported by a network of 146 stations and 11 supply centres.

All the latest energy news, all the time

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access - Archives included - Pro invoice

7 DAY PASS

Up to 50 items can be consulted for 7 days,
without automatic renewal

3€/week*

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.