Lhyfe has purchased a 49% share in Flexens, a Finnish business that develops Power-to-X and renewable hydrogen projects.
Since its founding in 2018 to capitalize on the distinct knowledge garnered from the Smart Energy land (SM) research program, Flexens has significantly increased its capacity for energy system modeling and project creation.
In Finland and overseas, Flexens has a robust commercial pipeline with a total anticipated capacity surpassing 1.5 GW, which includes:
Kokkola: Flexens has a project that is well-advanced and is supported by letters of intent from significant Kokkola players (300 MW – expected to be commissioned by 2027). A plant like this would attest to Finland’s increased energy and ammonia self-sufficiency.
land: The company has created the world-renowned Smart Energy land demonstration project to show off a society based on 100% renewable electricity, employing hydrogen and Power-to-X applications, after many years of study in the land archipelago.
Lempäälä: Flexens will build a first 2.5 Megawatt green hydrogen production unit there that will be connected to Finland’s first hydrogen refueling station (scheduled to be operational in 2025). The facility will be incorporated into the Lempäälän Energia-owned local intelligent energy system LEMENE.
Lhyfe, which is already active in 11 countries, has decided to collaborate with the Finnish business Flexens through a 49% equity investment in order to quicken its development and growth in Northern Europe and, in particular, in Finland.
With Lhyfe joining the business, Flexens will get access to the technological know-how of one of the most cutting-edge producers of renewable and green hydrogen, enabling it to build more projects more quickly and more extensively.
In 2020, Lhyfe and Flexens initially collaborated on projects together. Now that they are formally integrated, they will pool their experience, understanding of the market, and commercial pipelines to advance ongoing projects, find new prospects in Northern Europe, especially for major offshore projects, and meet their own decarbonization goals.
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