Prioritization of projects in the advanced development phase and launch of the industrial project

On September 23, 2024, HDF Energy presented its financial results as of June 30, 2024. The company recorded a turnover of €0.6 million, down from 2023. The Board of Directors appointed Ms. Hanane El Hamraoui as Deputy Managing Director.

HDF Energy has undertaken to prioritize its projects in advanced development, aiming to attract investors and launch construction of certain projects by 2025. The project pipeline remains a key indicator of value creation for the group.

The European Commission has approved €172.7 million in financial support for HDF's industrial project. This project focuses on the development of high-power fuel cells at Blanquefort, the group's new international headquarters.

Cash flow decreased to €48.1 million, due to the completion of the construction of a plant and industrial equipment required for the PIIEC project. External expenses also increased, mainly due to non-recurring costs.

The new governance will see Hanane El Hamraoui coordinate the group's activities, gradually replacing Jean-Noël de Charentenay, who is retiring from his operational duties at the end of 2024.