HDF Energy successful IPO to accelerate development in LAC region

HDF Energy (Hydrogène de France) has raised €132m ($156M) in a recent IPO that will help develop its first factory for utility-scale (1MW+) fuel cells using PEM technology. HDF also said that the IPO will support an acceleration in the development of HDF Energy’s power plants and continue its international expansion in addition to being able to invest in the equity of the projects.

HDF Energy began developing the LAC region in 2016 with a pilot HyPower project in Martinique (Cleargen) and a large-scale “renewstable” project in French Guyana (CEOG). HDF Energy is now expanding across the region Mexico, Barbados and Chile with various projects at different stages of development. The IPO will enable the company to accelerate implementation of existing projects and foster new hydrogen-power plants development opportunities, answering a growing need for reliable firm and on-demand local clean power.  

Rubis, which specializes in the distribution of energy and bitumen, has become the second-largest shareholder by acquiring 18.5% of HDF Energy’s capital during this IPO.

This investment is part of a strategic partnership that will allow both companies to maximize their market presence in Latin American and the Caribbean.

“We are very happy and proud of the trust placed in us by French and foreign institutional investors, as well as the numerous retail investors, who responded so positively to our initial public offering. We thank them for their generous support,” said  Damien Havard, Chairman and CEO of HDF Energy.

He added: “The strategic partnerships signed with RUBIS and TEREGA SOLUTIONS, which will both be shareholders of the Company after the IPO, bear witness to the relevance of our vision and will help drive our future development.”

HDF Energy is a global pioneer in hydrogen-energy. HDF Energy develops high-capacity Hydrogen-Power plants. These plants will provide continuous or on-demand electricity from renewable energy sources (wind or solar), combined with high power fuel cells supplied by HDF Energy.