This agreement accelerates pHYnix's development in the renewable hydrogen market by financing the company's development activities and its early stage and construction projects .
Part of the financing is under the formula of bonds convertible into shares so that Eiffel Gaz Vert will be able to become a shareholder of the company by taking part in the capital increases planned by pHYnix .
The financing will already benefit the development of Vitale, one of the first green hydrogen production plants on a commercial scale in Spain , which pHynix will start building this fall in Alcázar de San Juan and which will produce 1,450 tons of hydrogen per year. from 2024

pHYnix , producer of renewable hydrogen, has reached a financing agreement with the Eiffel Investment Group worth up to 20 million euros , which allows it to meet the financing needs linked to the start-up of projects . This financing , provided by Eiffel Gaz Vert, the fund dedicated to the production and distribution of renewable gases of the Eiffel Investment Group, will provide a significant boost to Vitale, one of the first 10MW plants to produce green hydrogen on a commercial scale . in Spain that pHYnix will begin to build in October in Alcázar de San Juan (Ciudad Real) and that plans to produce 1,450 tons of hydrogen per year from 202 4 .
The agreement between pHYnix and Eiffel Gaz Vert foresees several tranches that will be successive to finance the development of the project portfolio until they are ready for construction and at the same time to cover the pre - construction costs of he green hydrogen production plants . The president of pHYnix SAS, Jean - Pierre Riche , considers this agreement "a great accelerator for pHYnix and our goal of reaching 1GW of assets in operation in 2030. " Eiffel Gaz Vert contributes to consolidating our business model based on the construction of green hydrogen production plants at a competitive price, in the Iberian Peninsula , to meet the decarbonization needs of industry and theheavy transport in Europe by injecting it into the gas network'. Marc-Etienne Mercadier, manager of the Eiffel Gaz Vert fund , considers that the agreement is “an important step for the financing of green hydrogen production projects. We believe in the upstream integration model with renewable electricity, and downstream in the application to low-emission mobility as well as the decarbonization of the industry through pHYnix's green hydrogen projects and the ability of its team to meet the company's ambitious plan. Eiffel is proud to support pHYnix with a flexible and innovative financing solution.” The Eiffel Gaz Vert fund is a closed-end fund reserved exclusively for professional clients

About pHYnix

pHYnix is an independent European company dedicated to the development, construction and commercial operation of renewable hydrogen generation plants, with teams and business spread across France, Spain and Portugal. pHYnix is a subsidiary of EverWatt, an integrated player specialized in energy planning and the decarbonisation of territories, whose majority shareholder is Transition Evergreen, the first investment fund listed in France dedicated to the ecological transition and the reduction of the carbon footprint. pHYnix is a European company dedicated to the development, construction and commercial operation of renewable hydrogen generation plants , with equipment and business spread across France, Spain and Portugal . pHYnix is a subsidiary of EverWatt, an integrated player specialized in energy planning and the decarbonisation of territories , whose majority shareholder is Transition Evergreen, the first investment fund listed in France dedicated to the ecological transition and the reduction of the carbon footprint .
pHYnix contributes to the energy independence of territories and countries and to the energy transition of its clients , achieving for them the decarbonisation of their activity, competitive migration and the supply of green hydrogen.

About Eiffel Investment Group

Eiffel Investment Group is a manager with more than 4,000 million euros in managed assets. Its clients are large institutional investors (insurers, mutuals, pension funds, banks, etc.). Backed by businessman Jacques Veyrat's Impala group , the Eiffel Investment Group finances companies and assets through four main strategies: private debt , private equity, energy transition infrastructure, and listed shares and loans. The Group's mission is to invest to achieve a world sustainable. Its investment strategies seek to generate not only a strong financial return , but also a positive impact on the environment and society. The Eiffel Investment Group team has about 80 employees, mainly in France (Paris), but also in BeNeLux (Amsterdam) and the United States (New York)

France: Renewable Hydrogen Developer PHYnix Reaches a Financing Agreement of Up to 20 Million Euros With Eiffel Investment Group