Matthieu Guesné, who established the green hydrogen business in 2017, emphasizes the strategic importance of the UK market for Lhyfe, which chose Newcastle as its UK headquarters following a successful €110m IPO on the Euronext Paris exchange in 2022.
Highlighting the region’s research and supply chain capabilities, Lhyfe has expanded its presence to Sheffield. Colin Brown, leading the UK arm, has indicated the company’s interest in potential North East sites for a future green hydrogen production plant.
Mr. Guesné sees the UK’s support mechanisms for hydrogen as progressive, particularly in replacing natural gas with hydrogen. He notes the enthusiasm of entities like Northern Gas Networks and Centrica in embracing green hydrogen. 
He believes that UK regulations align closely enough with those of its European counterparts to facilitate hydrogen trading. Mr. Guesné envisions the UK’s offshore wind projects as a transformative opportunity akin to the impact of Brent oil in the 1970s, envisioning green hydrogen as a replacement for declining oil wealth.
Lhyfe aims to establish offshore production near wind farms to leverage renewable electricity for electrolysis, showcasing its pioneering offshore electrolysis demonstrator, ‘Sealhyfe.’ With substantial projects underway and a sizable pipeline, Lhyfe targets a 5% market share and aims for €100m in revenue by 2026, a significant leap from €1.3m in the previous year.
