Mitsui & Co has invested €10 million in Lhyfe, fueling the renewable green hydrogen company’s international expansion.
The first international company to invest in Lhyfe is a Japanese trading and investment conglomerate that is a member of the Hydrogen Council.
Mitsui’s investment comes after Lhyfe raised €66 million from Andera Partners, Swen Capital, CDC Banque des Territoires, and several of its original shareholders in 2021.
Lhyfe has created the world’s first industrial site to produce renewable green hydrogen using wind turbine power, which will open in 2021.
Lhyfe and wpd Offshore recently signed a Memorandum of Understanding (MOU) to jointly establish and directly connect a green hydrogen production facility to wpd’s planned offshore wind farm, Storgrundet, in Söderhamn.
Lhyfe received assistance from BNP Paribas, which served as its financial advisor during the fund-raising process.
