Low-carbon hydrogen investment manager Hy24 has signed an agreement with EDF Pulse Ventures, the venture capital arm of French utility EDF, to acquire its green hydrogen subsidiary, Hynamics.
The transaction, executed through Hy24’s Clean Hydrogen Infrastructure fund, is expected to close in the first quarter of 2027, subject to customary closing conditions and regulatory approvals.
Hynamics develops, produces, and markets low-carbon hydrogen for industrial applications and heavy transport, operating a portfolio of operational and development-stage assets across France and the United Kingdom.
The acquisition aims to combine Hy24’s specialized capital resources with Hynamics’ project pipeline to build a leading cross-border hydrogen producer in Western Europe.
Key transaction parameters and operational details include:
- Asset portfolio: Focuses on scaling production facilities for heavy mobility and industrial decarbonisation across core French and British markets.
- Ownership transition: Marks the exit of founder EDF after incubating Hynamics within EDF Pulse Ventures since its establishment in 2019.
- Capital mobilisation: Leverages Hy24’s dedicated infrastructure capital platform to finance capital-intensive electrolyser deployments and off-take infrastructure.
- Closing timeline: Target completion in Q1 2027, subject to anti-trust and regulatory clearances.
Julien Villeret, Chief Innovation Officer at EDF Group, stated that transitioning Hynamics to a dedicated hydrogen platform gives the company the capital scale required to accelerate its growth across Europe.
Pierre-Etienne Franc, Co-founder and Chief Executive Officer of Hy24, added that the deal reflects ongoing market consolidation around high-performing hydrogen assets essential for European energy security and heavy industry decarbonisation.
