Lhyfe said the acquisition was a “first investment” and displayed the company’s desire to expand rapidly “in countries with big plans for renewable and green hydrogen”.
Lhyfe aims to have more than 3GW of installed capacity by 2030. It wants to create an energy model capable of decarbonising entire sectors of industry and transport by providing access to green and renewable hydrogen in industrial quantities. It inaugurated in 2021 an industrial-scale green hydrogen production plant connected with a wind farm.
Flexens is a project developer which implements power-to-X technologies. It was founded in 2018 to capitalise on expertise gained from the Smart Energy Åland (SMÅ) research programme and has since developed significant capabilities in energy system modelling and project development.
The Finnish firm has a 1.5GW commercial pipeline including a 300MW project in Kokkola due for commissioning by 2027 and a 2.5MW green hydrogen production unit in Lempäälä, expected online in 2025.
Lhyfe signed an agreement with British firm Centrica last week to develop a green hydrogen pilot project linked to offshore wind in the North Sea. It is also working with UK firms Aquaterra and Borr Drilling to develop a concept for an electrolyser on a converted jack-up rig.
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