Hy24 agreed to acquire Hynamics , EDF 's low-carbon hydrogen subsidiary, in a deal aimed at strengthening its presence in one of the segments that is beginning to enter a consolidation phase within the European market.
The agreement was signed with EDF Pulse Ventures , the venture capital arm of the French group, and is still subject to customary closing conditions and regulatory approvals.
If these steps progress as planned, the transaction could be completed during the first quarter of 2027 .
Hynamics produces and markets low-carbon hydrogen for industrial and heavy mobility applications, with a project portfolio deployed mainly in France and the United Kingdom .
For Hy24, the operation involves incorporating a platform already developed and with projects underway in markets where hydrogen is beginning to seek greater industrial scale.
Pierre-Etienne Franc, co-founder and CEO of Hy24, linked the agreement to a broader dynamic of concentration around projects considered to be the strongest.
“ This agreement illustrates the ongoing consolidation around the most promising projects, in support of European energy security ,” he noted.
From EDF, the reading points in the same direction.
Julien Villeret, Director of Innovation at the EDF Group, said that the change in ownership represents an opportunity to accelerate the growth of Hynamics' portfolio under a new shareholder with greater financial specialization in hydrogen.
“ The transfer of Hynamics’ share capital to one of the leading European players in hydrogen development represents an excellent opportunity to accelerate the expansion of Hynamics’ project portfolio ,” he said.
The operation also fits with EDF Pulse Ventures' strategy of supporting its companies to a new stage of development and subsequently transferring them to shareholders capable of providing new resources for their expansion.
A portfolio with strategic projects in the United Kingdom
Among Hynamics' most relevant assets is Fawley Green Hydrogen , a planned 120 MW electrolytic hydrogen project in Hampshire, UK.
The initiative seeks to supply hydrogen to ExxonMobil's Fawley complex, the country's largest refinery and a key facility for supplying fuel to the British market.
The project was shortlisted within the second round of the UK's hydrogen allocation, known as HAR2 .
The portfolio also includes Tees Green Hydrogen , in Teesside.
Its first phase is part of HAR1 and includes four 2 MW electrolyzers supplied by ITM Power , while a second phase was also included among the projects shortlisted for HAR2.
This set of assets reinforces the UK's weight within the operation and gives Hy24 exposure to projects directly linked to industrial decarbonization.