Lhyfe has doubled its turnover in 2023, and It will do even better in 2024 thanks to the ramp-up of its projects.
With a €1.3 million turnover, the result may seem very low given the company’s ambitions and the number of projects in progress. But scaling up is well under way. In a press release, Lhyfe is delighted to have signed up a number of new customers in France and Germany, including Avia, Manitou, Iveco, John Deere, Hypion, Hype and Symbio. The company also points out that it currently has 3 production sites and that 8 others are under construction.
The large-scale projects should turn the tide. By the end of the year, a partnership for 1 GW of projects is expected. Going to scale will also be boosted with €149 million in subsidies from the French government for a 100 MW industrial project in France near Le Havre. This should give Lhyfe cause for confidence, as it claims to hold €114 million in funds and to have secured €238 million in subsidies.
By 2024, the company expects to quadruple its turnover. Which will then increase significantly to reach over €100 million in 2026.
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Article written by Laurent Meillaud and translated by Mariem Ben Tili
