The end of the Hydrogen Dream has come to an end for HYVIA, joint venture equally owned by Renault Group, and US company Plug, a world leader in turnkey hydrogen and fuel cell solutions. In a statement issued, the details are as follows:
- By judgment dated February 18, 2025, the Court of Economic Activities of Versailles, France, converted into legal liquidation the legal recovery procedure opened for the benefit of HYVIA on December 10, 2024.
- This decision follows the absence of a credible takeover offer as part of the search process for candidate buyers carried out by the judicial administrator.
- The difficulties encountered by HYVIA essentially result from the too slow emergence of hydrogen mobility ecosystems in Europe and the very significant development costs required for hydrogen innovation.
- Drawing on their expertise, HYVIA employees will all be supported or reclassified, with the support of shareholders and the implementation of an Employment Protection Plan.
- The Court appointed as judicial liquidator SELARL Asteren, in the person of Maître Axel Chuine.
HYVIA thanks all of its customers, shareholders, partners and employees who have supported HYVIA’s adventure since its creation in June 2021.
About HYVIA
“HY” for hydrogen, “VIA” for road: HYVIA paves a new way forward for carbon-free mobility, with hydrogen mobility solutions. Created in June 2021, HYVIA is a joint venture equally owned by Renault Group, a dominant player in the automotive industry, and Plug, a world leader in turnkey hydrogen and fuel cell solutions. Based in France, for European markets, HYVIA offers a complete and unique ecosystem that includes light commercial vehicles with fuel cells, hydrogen refueling stations, services for financing and maintenance of fleets.