Lhyfe: share up after industrial project announced in Sweden

(CercleFinance.com) - Lhyfe shares rose sharply in Paris on Wednesday, after the group announced its intention to create one of Europe's largest industrial clusters focused on green hydrogen in Sweden.


The project, led by onshore wind turbine developer OX2 and green fertilizer producer Velarion, plans to combine wind power and large-scale green hydrogen production.

In detail, OX2 will develop a wind farm in Torpshammar, a small town in central Sweden, with an annual production capacity of up to 1.4 TWh.

This green electricity will then feed the hydrogen production unit that Lhyfe plans to install in Torpshammar, with a production capacity of up to 100 tons of green hydrogen per day.

These developments come at a time when Velarion is planning to build one of the world's first carbon-neutral fertilizer plants in the municipality of Ange, about 20 kilometres from Torpshammar.

The plant will in turn use green hydrogen to produce low-carbon green ammonia, a process designed to help meet the growing demand for sustainable products.

The project's implementation, which has entered the design study phase, will depend on the conclusions of the study, the granting of operating licenses and environmental permits, as well as financial investment decisions.

Following these announcements, Lhyfe shares were up over 2% in Paris on Wednesday, after rising by up to 5% in earlier trading.


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