from LHYFE (EPA:LHYFE)
Lhyfe and Energy Pool: Using the flexibility of renewable green hydrogen production to support grid stability
Nantes (France), 14 November 2024, 7:30 am - The renewable green hydrogen industry is taking a decisive step forward by becoming actively involved in balancing the French power grid. Lhyfe, in partnership with Energy Pool, is spearheading this strategic advance.
Lhyfe (EURONEXT: LHYFE), one of the world's pioneers in the production of green and renewable hydrogen for mobility and industry, is now one of the players contributing to French grid stability, in particular by offering a demand response* service and selling on the secondary reserve market, made possible by the flexibility of its production sites. These balancing services, which had not yet been provided by a hydrogen producer, will help to enhance grid efficiency, facilitate the integration of renewables and reduce the ecological impact and cost of Lhyfe's energy consumption, while confirming the potential of renewable green hydrogen as an essential lever of energy transition.
| *Demand response is a mechanism that helps to “shed” part of the electricity demand during periods of high demand on the grid, by encouraging certain users (individuals, businesses or industry) to temporarily reduce their power use. The aim is to reduce the load on the grid to avoid power cuts or supply problems, particularly during peak use periods such as winter or heatwaves, so as to avoid having to start up highly polluting back-up power stations. The grid operator pays participating users who choose to voluntarily reduce their electricity consumption. Demand response is therefore a low-carbon solution that benefits the environment and the stability of the grid. |
Aware of the potential of its business in this area, Lhyfe has decided to join forces with Energy Pool, in order to leverage the flexibilities of some of its French production sites, for a period of five years starting in 2025. This collaboration covers in particular the sites of Buléon, Bessières and Le Cheylas, with a combined capacity of 30 MW. This partnership is an important milestone for Lhyfe, which is constantly seeking to optimise its power consumption for two reasons: to contribute to energy transition by stabilising the grid, and to reduce the cost of its energy consumption, in order to have a favourable impact on the price of green hydrogen.
Committed on the wholesale and secondary reserve markets
From early 2025, Energy Pool will initiate demand response events for Lhyfe on the wholesale markets (NEBEF), then paving the way to value creation on the secondary reserve market, a mechanism requiring high responsiveness from producers, which Lhyfe will be in a position to provide. Thanks to the flexibility inherent in the electrolysers it has chosen to use, Lhyfe will be able to respond instantly to signals from the grid, offering a valuable service to the French grid operator.
An agile response to the challenges of energy transition
This initiative is part of a wider drive to transform the hydrogen industry, which is now positioned as a pillar of energy transition. By integrating grid balancing into its business model, Lhyfe is contributing to grid stability while exploring additional cost cutting avenues.
By placing flexibility at the heart of its strategy, Lhyfe and its partner Energy Pool are showing the way for optimal integration of renewables, while meeting the growing challenges of managing tomorrow's energy resources. This alliance reflects a long-term vision, focused on a solid and resilient energy transition.
About Lhyfe
Lhyfe is a European group devoted to energy transition, and a producer and supplier of green and renewable hydrogen. Its production sites and portfolio of projects intend to provide access to green and renewable hydrogen in industrial quantities, and enable the creation of a virtuous energy model capable of decarbonising entire sectors of industry and transport.
In 2021, Lhyfe inaugurated the first industrial-scale green hydrogen production plant in the world to be interconnected with a wind farm. In 2022, it inaugurated the first offshore green hydrogen production pilot platform in the world.
In 2023, it inaugurated two new sites, and currently has several sites under construction or expansion across Europe.
Lhyfe is represented in 12 European countries and had 200 staff at the end of June 2024. The company is listed on the Euronext market in Paris (ISIN: FR0014009YQ1 – LHYFE).
More information on Lhyfe.com
About Energy Pool
Energy Pool is a key player in the energy transition, providing advanced services and software solutions for the management and optimization of complex energy systems, from strategy to operations, including consumers, renewables and electricity storage solutions. Our mission is to help to deliver reliable and affordable electricity while reducing CO2 emissions.
Energy Pool has been one of the pioneers in the French electricity flexibility market since 2009. The company employs more than 400 people and manages consumption, production and storage assets worldwide, representing a capacity of >8 GW. In addition to France, we have also been present in the Japanese and Turkish markets since 2015, and in the Netherlands since 2019, and are leading developments in around 15 countries (Ivory Coast, Germany, Saudi Arabia, Malaysia, Thailand, etc.). www.energy-pool.eu
Contacts
Lhyfe:
| Lhyfe - Business press relations Nouvelles Graines Clémence Rebours +33 (0)6 60 57 76 43 c.rebours@nouvelles-graines.com | Lhyfe - Financial press relations ACTUS Manon Clairet +33 (0)1 53 67 36 73 mclairet@actus.fr | Lhyfe - Investor relations LHYFE Yoann Nguyen investors@lhyfe.com |
Energy Pool:
Contacts presse
Lucy Gentil-Perret
Tel.: +33 (0)6 25 30 20 22
lucy.gentil-perret@energy-pool.eu