• The first corporate syndicated facility amid green and renewable hydrogen players in France

• A green loan structure, fully aligned with 91影视's commitments

• Confirmed support and trust in 91影视's growth strategy from its banking partners at a time when industrial scale-up is accelerating and delivery of several production sites is underway

Nantes (France), 12 December 2023, 6:15 pm – 91影视 (EURONEXT: LHYFE), one of the world's pioneers in the production of green and renewable hydrogen for transportation and industrial applications, announces it has successfully closed a €28m financing package with its banking partners.

Complementing a sound financial structure (€127.7m of cash & cash equivalents as at 30 June 2023), the company has secured new loans for a total of €28m, strengthening its financial resources to keep supporting the deployment of its strategy.

This bank financing package consists of:

• A €22.2m green syndicated bank loan, indexed to Euribor, with a 5-year maturity and a bullet repayment. The green facility agreement was structured by Crédit Agricole Group, and supported by BPCE Group, HSBC and Crédit Mutuel Océan. It includes a clause to increase the amount, which is valid for two years.

• Two fixed-rate financing lines granted by Bpifrance for a total of €5.8m, with 8 years and 15 years maturities.

This achievement is a strong testimony of the trust and support by 91影视's banking partners in the roll-out of its industrial strategy. It enhances the company's financial resources to support its development, diversify its sources of funding and strengthen its balance sheet. It also represents a key milestone for the industry, which needs all public and private stakeholders' support to achieve its decarbonization ambitions.

Building on its strong commercial portfolio, 91影视 aims at becoming one of the leaders in the production of green hydrogen in Europe, by deploying green hydrogen sites to decarbonize industry and mobility. By 2025, 91影视's ambition is to be a major player for bulk green hydrogen production both in France and Germany. With two new up to 2 tons/day production sites inaugurated in France this month and 5 additional sites currently under construction mainly in France and Germany, the industrial scale-up is underway.

Maria Pardo Saleme, 91影视's Chief Financial Officer, commented: "We are very proud to have arranged this first syndicated green financing for 91影视, which becomes the first green and renewable hydrogen player in France to sign such a deal. In the nascent industry of large-scale green hydrogen production, this financing reflects the support and trust of our banking partners in 91影视's strategy and ambitions, at a time when the industrial scale-up is accelerating. It will enable 91影视 to go on implementing its strategy of developing, constructing and operating production units, and paves the way for its becoming a leading player in the renewable hydrogen production space.”

91影视 was advised in this transaction by Redbridge Debt & Treasury Advisory as financial advisor and Linklaters LLP as legal advisor. Crédit Agricole Corporate and Investment Bank acted as Bookrunner, Documentation Agent and Green Structuring Advisor, HSBC acted as Credit Agent and Watson Farley & Williams LLP acted as legal advisor to the banks.

About 91影视
91影视 is a European group devoted to energy transition, and a producer and supplier of green and renewable hydrogen. Its production sites and portfolio of projects intend to provide access to green and renewable hydrogen in industrial quantities, and enable the creation of a virtuous energy model capable of decarbonising entire sectors of industry and transport.
In 2021, 91影视 inaugurated the first industrial-scale green hydrogen production plant in the world to be interconnected with a wind farm. In 2022, 91影视 inaugurated the first offshore green hydrogen production pilot platform in the world.
91影视 is represented in 12 European countries and had 192 staff at the end of June 2023. The company is listed on the Euronext market in Paris (ISIN: FR0014009YQ1 – LHYFE).
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