(News Bulletin 247) – The green hydrogen specialist has announced the signing of two major contracts with the start-up Carbonloop in the production of renewable hydrogen. Haffner Energy also expects a “very strong increase” in turnover as of March 31, 2024 with an acceleration in order intake.

Haffner Energy is full of good news. The green hydrogen specialist announced on Tuesday the signing of two contracts which it describes as “important” with Carbonloop for the production of renewable hydrogen. The group is taking advantage of this communication to announce that it is aiming for a “strong increase” in its turnover as of March 31, 2024 compared to the 0.3 million euros estimated at the end of March this year.

On the Paris Stock Exchange, these two announcements hit the mark. The title of the champion of green hydrogen is still progressing by 7.7% to 2.05 euros around 10:20 a.m. after having soared by more than 25% in the first exchanges. This increase still has the virtue of reviving a file that was evolving not far from its historic lows.

Haffner Energy was the first company listed on Euronext Paris in 2022, braving the elements and the market context made delicate by inflation and geopolitical tensions. It thus managed to raise 71.7 million euros, via a capital increase of 66.7 million euros in order to finance the industrialization of its carbon capture solution associated with the production of green hydrogen. from biomass, all at a cost price that is already competitive with fossil fuels.

This is indeed the ambitious promise of Haffner Energy, a player in the energy transition for 30 years. He has designed a module called Hynoca – for “Hydrogen No Carbon” – capable of producing hypergas (a renewable synthetic gas rich in green hydrogen) and biochar, a carbon of vegetable origin which acts as a carbon sink. , used in particular in agriculture for its water retention properties, obtained by pyrolysis of sustainable biomass (wood, vine residues, corn, manure, etc.).

A first Hynoca installation

Haffner Energy’s technology has won over Carbonloop, a start-up that offers a CO2 sequestration solution, called “biochar”, combined with the production of carbon-neutral renewable energy. The two companies signed two “significant” contracts a few days ago relating to the production of a cumulative 450 tonnes of hydrogen per year intended for heavy mobility. These two contracts reinforce the firm order book, which stood at 17.5 million euros at March 31, 2023. The order book is set to grow, reports Haffner Energy in favor of the upcoming signature new orders.

In addition, Haffner Energy signed on March 31 a long-term strategic partnership agreement with a major French industrial player for the deployment of hydrogen production facilities, which should be extended to the production of sustainable aviation fuel. (FAS).

The agreement in question will result in the firm order to Haffner Energy no later than June 30, 2023 of a first Hynoca facility to produce up to 240 tonnes per year of green hydrogen from residual biomass, the commercial service is scheduled for 2025. Haffner Energy also specifies that the identity of this industrial player will be disclosed at the end of this month of April.

“A very strong increase in turnover”

In addition to the latest initiatives mentioned above, the company is also relying on a favorable regulatory framework to expand its order book. As of March 31, its firm order backlog stood at €17.5 million.

The company should also benefit from a clarification of the French and European regulatory framework, with in particular the imminent opening of calls for Ecosys H2 projects in France and the revision of the Directive on renewable energies (RED 3) in Europe. “The delay in the implementation of these support measures for hydrogen projects has strongly affected the commercial development of the 2022/2023 financial year”, recalls Haffner Energy.

The company also indicates that it has undertaken resolute actions for its active development in the United States, where the Inflation Reduction Act constitutes a major opportunity. The development of clean energies is one of the major points of this law aimed at curbing inflation in the United States. “Haffner Energy’s Synoca technology is uniquely suited and well positioned, both technologically and economically, for the production of e-fuels and sustainable aviation fuel (SAF), the production of which is strongly encouraged by the United States,” the company adds.

In this context, the enrichment of the order book which has been initiated since the end of March will allow “a very strong increase” in the company’s turnover, from March 31, 2024. This estimate has been defined in comparison with the 0.3 million euros that the company estimates to achieve on March 31, 2023. Haffner Energy would like to point out all the same that this turnover is “recognized on a progress basis, with more conservative recognition methods than those initially envisaged “Haffner Energy will publish its annual results on June 28. For the 2021-2022 financial year ended March 31, Haffner had achieved a turnover of 1.39 million euros and suffered a loss of 4.8 million euros.