Hy24 Agrees to Acquire EDF’s Hynamics to Expand Low-Carbon Hydrogen in France and UK

French hydrogen investment manager Hy24 has signed an agreement with EDF Pulse Ventures to acquire Hynamics, the EDF Group subsidiary specialising in low-carbon hydrogen production. Announced on 16 October 2026, the proposed acquisition will be made through Hy24's Clean Hydrogen Infrastructure fund and is intended to accelerate hydrogen project development in France and the United Kingdom. The transaction is expected to be completed in the first quarter of 2027, subject to regulatory approvals and other customary conditions.

Founded in 2019, Hynamics develops and markets low-carbon hydrogen for heavy mobility and industrial applications, two sectors where reducing emissions remains particularly challenging. Its hydrogen production approach uses water electrolysis, which can produce hydrogen without direct carbon dioxide emissions when powered by low-carbon electricity. Hynamics has developed a portfolio of projects across France and the UK, providing Hy24 with an established platform for expanding hydrogen infrastructure and supporting industrial decarbonisation.

 

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The acquisition aligns with EDF Pulse Ventures' strategy of supporting emerging businesses before transferring them to investors with the capital and sector expertise needed for further expansion. Hy24, which specialises in financing low-carbon hydrogen and related infrastructure, aims to support Hynamics' next phase of development. The companies envisage building a stronger hydrogen business serving industrial and transport customers across both markets, although the announcement does not disclose the transaction value, additional investment commitments or specific hydrogen production capacity targets.

Julien Villeret, EDF Group Chief Innovation Officer, said the proposed change in ownership would create an opportunity to accelerate Hynamics' project portfolio. Pierre-Etienne Franc, Co-founder and CEO of Hy24, highlighted the importance of investment and industrial partnerships in developing Europe's hydrogen economy. "This agreement illustrates the ongoing consolidation around the most promising projects, in support of European energy security," he said. The transaction reflects continued efforts to bring hydrogen developers and specialist infrastructure investors together as the sector moves towards larger-scale deployment.

 

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The proposed acquisition also comes as European hydrogen developers seek financing to advance projects from development into commercial operation. For Hynamics, the immediate priority will be completing the ownership transition and progressing its existing portfolio. The agreement has not yet resulted in a completed acquisition, and its wider impact will depend on subsequent project investments and deployment.

 

Source: EDF Group