France's Hy24 Plans to Acquire EDF's Hydrogen Subsidiary

en.Wedoany.com Reported - On October 14, Électricité de France (EDF) announced that Hy24, a French hydrogen investment management institution, has signed an agreement with EDF Pulse Ventures to acquire Hynamics through its Clean Hydrogen Infrastructure fund. Hynamics is a low-carbon hydrogen company under EDF, with operations covering industrial hydrogen supply and heavy transport hydrogen projects in France and the United Kingdom. Under the transaction arrangements, the acquisition is expected to be completed in the first quarter of 2027, with closing subject to the satisfaction of relevant conditions precedent and the receipt of necessary regulatory approvals.

Founded in 2019, Hynamics primarily develops and operates low-carbon hydrogen production and supply facilities through water electrolysis hydrogen production technology, serving the industrial production and heavy transport markets. The proposed transaction will see Hy24 take over the Hynamics business held by EDF through a dedicated hydrogen infrastructure investment fund, involving the company's portfolio of low-carbon hydrogen projects in France and the United Kingdom. EDF Pulse Ventures is participating in the equity sale arrangement on behalf of EDF.

Hynamics' existing projects include the UK's Fawley Green Hydrogen. The project plans to build a water electrolysis hydrogen production facility of up to 120 MW, located at Fawley Waterside in the United Kingdom, and plans to supply low-carbon hydrogen to ExxonMobil's Fawley petrochemical complex via a dedicated pipeline, expected to reduce carbon dioxide emissions by up to 100,000 tonnes per year. In July 2025, Hynamics UK signed an exclusive cooperation memorandum of understanding with Hy24 to jointly develop and finance the construction of the project, with an investment scale of approximately £300 million. At the time, the two parties also proposed plans to expand cooperation on other hydrogen projects in the United Kingdom.

In January 2026, the Fawley project conducted a public consultation, with the relevant design involving electrolysis hydrogen production facilities and a pipeline transporting hydrogen to the petrochemical complex. The project is expected to be put into operation in 2029, with the construction phase planned to create approximately 200 jobs and the operational phase providing approximately 100 direct and indirect jobs.