Lhyfe signs a 4-year green hydrogen offtake contract with INOCEL to fuel and support the development and production of its fuel cell power generation solutions

LHYFE SIGNS A 4-YEAR GREEN HYDROGEN OFFTAKE CONTRACT WITH INOCEL TO FUEL AND SUPPORT THE DEVELOPMENT AND PRODUCTION OF ITS FUEL CELL POWER GENERATION SOLUTIONS

Contract to supply up to 140 tonnes of hydrogen over 4 years
Shared objective: decarbonizing mobile and stationary power generation and mobility
Expansion of Lhyfe’s customer portfolio with INOCEL, an industrial pioneer in fuel cells and turnkey power generation solutions
By supplying INOCEL, Lhyfe is contributing to the decarbonisation of mobile and stationary electricity generators

Nantes (France), 4 March 2025, 7:30 am – Lhyfe (Euronext Paris – FR0014009YQ1 – LHYFE), one of the world’s pioneers in the production of green and renewable hydrogen to decarbonize industry and mobility, announces the signing of a major contract with INOCEL covering the supply of up to 140 tonnes of green hydrogen over a period of four years for the test benches of high-power fuel cells manufactured by INOCEL.

Since the beginning of 2025, Lhyfe has been supplying green hydrogen to INOCEL’s plants in Belfort (Burgundy-Franche-Comté region) and Saint-Égrève (Auvergne-Rhône-Alpes region). This green hydrogen powers the test benches of INOCEL’s fuel cells, which are the most powerful in the world (300 kW). With a 60% energy efficiency, these fuel cells offer competitive operating costs compared to diesel.

By recombining hydrogen and oxygen molecules, fuel cells generate electricity without releasing CO2 – only water. High-power fuel cells such as those currently being developed by INOCEL can meet the growing need for clean mobile and stationary electricity generation. This includes hydrogen-powered generators for off-grid sites (events, construction sites, ports, etc.), industrial facilities and buildings requiring a stable power supply (data centres, hospitals, office buildings and banks) as well as for the maritime sector and heavy land mobility.

This contract reinforces the joint commitment of Lhyfe and INOCEL to the energy transition. By relying on green hydrogen, the two companies intend to promote sustainable energy solutions and accelerate the decarbonization of critical industrial sectors, particularly stationary applications and mobility.

Jules Billiet, Managing Director of INOCEL: “This strategic partnership with Lhyfe guarantees us a reliable supply of green and renewable hydrogen for our test benches and production tests. It reaffirms our commitment to providing zero-emission solutions for mobile and stationary power generation and mobility applications.”

Matthieu Guesné, Founder and CEO of Lhyfe: “This contract marks another essential step in our mission to make green hydrogen widely available. We are proud to supply INOCEL, a pioneer in the fuel cells industry. By working with INOCEL, we are contributing to the growth of high-power fuel cells which represent a major technological and sustainable advance in the stationary power generation, marine and mobility sectors”.

About Inocel

INOCEL is an innovative French company specializing in the design and development of high-power hydrogen fuel cell systems. With expertise in both fuel cell technology and system integration, INOCEL ensures customized, high-performance solutions for its clients.

Building on its expertise and a strong network of strategic partners, INOCEL provides a turnkey, fully integrated solution that spans the entire value chain of mobile and stationary power generation—from design and manufacturing to integration and commercialization. Its advanced fuel cell systems deliver reliable, high-performance, and emission-free energy.

INOCEL’s core mission is to address today’s energy challenges by providing sustainable, high-performance, and environmentally friendly power and mobility solutions. The company aims to make hydrogen energy more accessible and widely adopted, particularly in sectors where batteries alone are insufficient. INOCEL has quickly established itself as a key player in the energy transition.

Headquartered in France, INOCEL operates across three strategic sites: an R&D center in Grenoble, a dedicated integration facility in Nice, and a production plant in Belfort—a major hub in the hydrogen industry—capable of producing several thousand units per year.

About Lhyfe

Lhyfe is a European group dedicated to the energy transition, and a producer and supplier of green and renewable hydrogen. Its production sites and portfolio of projects aim to provide access to green and renewable hydrogen in industrial quantities, and to enter into a virtuous energy model allowing the decarbonization of entire sectors of industry and mobility.

In 2021, Lhyfe inaugurated the world’s first industrial green hydrogen production site in direct connection with a wind farm. In 2022, Lhyfe inaugurated the world’s first pilot platform for green hydrogen production at sea.

Since then, it has installed three new sites and currently has several sites under construction or expansion across Europe.

Lhyfe is present in 12 European countries and had 201 employees at end of December 2024. The company is listed on the Euronext market in Paris (ISIN: FR0014009YQ1 – mnemonic: LHYFE).

For more information go to Lhyfe.com

Contacts

Lhyfe

Industry Press Relations: Nouvelles Graines – Clémence Rebours</p

Téléphone : +33 (0)6 60 57 76 43 | c.rebours@nouvelles-graines.com

Financial Press Relations: ACTUS – Manon Clairet

Téléphone : +33 (0)1 53 67 36 73 | mclairet@actus.fr

Investor Relations: Lhyfe – Yoann Nguyen

investors@lhyfe.com

INOCEL

Press Relations: Sophie Pernel

sophie.pernel@inocel.com