April 22 (Renewables Now) - Lhyfe is planning an initial public offering (IPO) on the Euronext stock exchange in Paris as the French company is seeking to become a European leader in green hydrogen production.

The French financial watchdog, AMF, has cleared the registration document for the stock market listing, Lhyfe said on Friday.

The company, which last year commissioned its first industrial site for green hydrogen production with a capacity of 2.5 MW, has a commercial pipeline of 93 projects with a total capacity of over 4.8 GW.

Lhyfe aims to reach a total installed capacity of 55 MW by the end of 2024 and then boost it to over 3 GW by the end of the decade.

By 2026, the Nantes-based company seeks to grow its consolidated revenue to about EUR 200 million (USD 217.74m) and achieve breakeven on an EBITDA level based on a total installed capacity of 200 MW. In the long term, the group's margin on earnings before interest, tax, depreciation and amortisation (EBITDA) is seen at above 30%.

(EUR 1 = USD 1.089)

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