pHYnix is an independent green hydrogen producer and is developing a vertically integrated business model, from development and design to construction, operation, and maintenance of hydrogen production sites.
pHYnix has entered into a financing agreement for an amount of up to 20 million euros with Eiffel Investment Group, enabling it to meet the financing needs related with the start-up of the projects.
This financing, provided by Eiffel Gaz Vert, the fund dedicated to the production and distribution of renewable gas of Eiffel Investment Group, will benefit the Vitale project, one of the first commercial-scale 10 MW green hydrogen production facilities in Spain. Part of the financing in the form of bonds convertible into shares may allow the Eiffel Green Gas fund to become a shareholder in the company during the capital increases planned by pHYnix.
“We are pleased to have accompanied Eiffel Investment Group in this transaction which consolidates an integrated business model for green hydrogen”, explain Sylvie Perrin, partner, David Faravelon, senior counsel, Vahan Guevorkian, senior counsel, and Anne Kuhanathan, associate at De Gaulle Fleurance. “This fundraising will allow pHYnix to provide its clients with solutions for the decarbonization of their activities”
“We are proud to contribute to the development of pHYnix and we thank the De Gaulle Fleurance team for its efficiency in documenting a flexible and innovative financing solution” adds Alexis Sarton, Vice President at Eiffel Investment Group.