Haffner Energy publishes H1 FY 2024-2025 results at 09/30/2024-Imminent hydrogen production at the site will unlock contracts awaiting signature and generate new sales.
- A half-year marked by the completion of strategic projects:
- Commissioning of the Marolles renewable hydrogen and gas production, testing and training center, which received over €1 million in public funding. Imminent hydrogen production at the site will unlock contracts awaiting signature and generate new sales.
- Partnerships with leading international players, particularly in the SAF market.
- Confirmed pipeline* at €1.4Bn at 09/30/2024 and growing weight of projects linked to the SAF market, particularly in North America.
- EBITDA** improved significantly by 15% at -€4,672k at 09/30/2024, up from -€5,477k at 09/30/2023.
- Consolidated net income of -€5,416k at 09/30/2024.
- Net available cash of €3,637k at 09/30/2024 and fundraising in progress.
- Business Plan incorporates strong potential of new markets addressed by Haffner Energy and confirms the overall outlook announced at the time of publication of the annual results for FY 2023-2024.
HAFFNER ENERGY (code ISIN : FR0014007ND6 – Mnémonique : ALHAF) just published its consolidated results (IFRS standards) for H1 FY 2024-2025 at 09/30/2024, approved by the Board of Directors on 12/16/2024. These results are included in a progress report on the Group’s business development over the period and its prospects.
Philippe HAFFNER, Co-founder and Chairman and CEO of HAFFNER ENERGY said:
The past six months have been marked not only by the completion of strategic projects, but also by a significant improvement in our EBITDA.
“We believe the Marolles site, which was inaugurated on November 22, is home to the world’s first unit for the continuous production of hydrogen and syngas from both solid biomass. It will provide an income stream for Haffner Energy through the sale of the hydrogen it produces, as well as a formidable boost for the conversion of the project pipeline into orders, since the production of hydrogen from biomass offers decisive economic advantages over alternative solutions.
On the business front, Sustainable Aviation Fuel (SAF) is a sector that remains as promising as ever, and Haffner Energy won the trust of IðunnH2 and LanzaJet regarding the major benefits of our technological processes. When it comes to renewable hydrogen, several projects have made significant progress despite the ongoing delay with the whole sector’s take-off.On the financial front, the cash preservation plan we have been implementing since November 2023 has enabled us to significantly reduce our expenses and improve our cash burn rate. Lastly, the Business Plan we have drawn up broadly confirms our previously announced outlook. We are confident about the outcome of the current fund-raising process.”
- HALF-YEAR MARKED BY STRATEGIC ADVANCES: COMMISSIONING OF THE MAROLLES RENEWABLE HYDROGEN AND GAS PRODUCTION, TESTING AND TRAINING CENTER & NEW PARTNERSHIPS
Following the expansion of Haffner Energy’s addressable market well beyond hydrogen and the growth of its project portfolio, which began mid-2023, the first half of FY 2024-2025 is characterized by the shaping up of key projects for the company: commissioning of the Marolles renewable hydrogen and gas production, testing and training center, and the signing of partnerships with leading players, particularly with regard to biomass procurement and the SAF market.
The commissioning of the Marolles renewable hydrogen and gas production, testing and training center, located in the vicinity of Haffner Energy’s headquarters, is a key element in realizing the company’s commercial potential. Syngas production kicked off in June 2024 (see 6/20/2024 press release). The installation of new equipment designed to produce renewable hydrogen followed over the past half-year (see 11/22/2024 press release).
This showcase site is a strategic instrument for the Group’s commercial and industrial development. It will make it possible to bring some 120 tonnes of hydrogen per year to market, generating revenue. As such, after closing, a Memorandum of Understanding for the supply of renewable hydrogen was signed with a French operator specializing in hydrogen shipping and distribution, to collect and sell hydrogen produced on site in order to decarbonize mobility and industry (see page 5).
A showroom of the company’s know-how, this site, designed to operate continuously 8,000 hours a year, presents a wide range of Haffner Energy’s solutions: production of “super green” hydrogen and gas, co-production of electricity, as well as production and/or gasification of biocarbon**** and/or biochar.
This site was inaugurated on November 22, 2024, during Industry Week, (see 11/22/2024 press release and press kit) after a year of development, including archaeological excavations and assembly of the equipment. It attests to the technological maturity of Haffner Energy’s technologies, as well as to their economic and ecological relevance.
Most likely the first site in the world to produce hydrogen from solid residual biomass
The Marolles site is most likely to stand out as the world’s first unit to produce hydrogen from solid residual biomass. This is a major competitive advantage. Eagerly awaited by customers in the process of finalizing contracts, the center is a determining factor to accelerate the conversion of the pipeline into orders (see page 4).
“Super green” hydrogen produced from biomass is competitive when compared to alternative technologies, water electrolysis in particular, thanks to the low cost of the intrant (biomass) combined with great energy yield (above 75% for >20-MW projects). This hydrogen is labeled “super green” because of its carbon-negative LCA when biochar, a biogenic carbon sink, is the co-product.
Biomass agnostic feature: a critically differentiating factor
Based on its 31-year experience, Haffner Energy is confident in biomass availability. Annual global biomass volume can generate 12 times as much energy as the fossil oil extracted each year. And yet, biomass is often confronted with conflicts of use, particularly with food, because the majority of players compete for the same types of biomass. As a result, a large number of organic wastes and agricultural residues are neglected, as conventional technologies are unable to create value from these types of biomass.
This is the unique and major difference introduced by the proprietary technology developed over almost 15 years by Haffner Energy: all biomass, including organic sludge, animal manure and renewable organic waste can be used.
One of the critical benefits of the Marolles site is precisely that it allows the company to carry out industrial-scale tests on all types of biomass for its customers, who will be better able to secure procurement. As importantly, Marolles will enable Haffner Energy to provide customer training at its own site.
The Marolles project could be carried out in part thanks to the support and commitment of the French public authorities through many stakeholders. To date, i.e. after the closing date, it has received over €1M in public funding (see 11/22/2024 press release and press kit). This substantial support demonstrates confidence in the Group’s potential and its alignment with the French government’s reindustrialization strategy.
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Haffner Energy publishes H1 FY 2024-2025 results at 09/30/2024-Imminent hydrogen production at the site will unlock contracts awaiting signature and generate new sales., source
