(Champagnier, France) – Hydrogen Refueling Solutions SA (HRS), a manufacturer of hydrogen refueling stations and infrastructure, has announced that it has signed a preliminary agreement with Azur Datacenter for the sale and subsequent leaseback of its headquarters in Champagnier (Isère, France). The prospective buyer, part of the Arago Technology Group, plans to move into the more than 14.000-square-meter industrial complex by the end of 2026 and intends to invest nearly €360 million in the campus. HRS opened the office and production site in 2023.
HRS opened its office and production site in Champagnie in 2023. © Hydrogen Refueling Solutions SA
The transaction is valued at "between 22 and 25 million euros." According to HRS, this would strengthen the liquidity position and accelerate the development of "the two growth drivers" that extend beyond hydrogen refueling stations. These include industrial infrastructure for compression, storage, and transfer "to bridge the gap between hydrogen production and distribution," as well as Secure Power Units (SPUs) for generating electricity from hydrogen for data centers, critical infrastructure, and industrial plants.
The signing will be accompanied by "advanced discussions" with Azur to combine the expertise of both parties "in developing more energy-efficient solutions," such as hydrogen-powered energy systems, hydrogen-based electricity generation, and operational and maintenance services. The companies also plan to expand into metal and steel construction activities.
Bonds worth 2 million euros announced
The day after signing the preliminary purchase agreement, HRS announced the issuance of €2 million in simple bonds. Each bond, with a nominal value of €1.000, will mature at the end of a 24-month period from its issue date and can be subscribed to until August 9, 2027. An initial tranche of €500.000 will be registered no later than August 21, 2026.
This transaction is part of the company's strategy to "diversify its sources of financing while securing the necessary resources to achieve its industrial and commercial goals." Furthermore, HRS is "in advanced negotiations" with its pool of long-standing banking partners to secure financing of two million euros – formerly four million – which is "expected to be made available by the end of September 2026."
Should these funding sources materialize, HRS would have the necessary resources to finance its activities beyond the next twelve months. “The successful implementation of all these initiatives would provide us with the necessary resources to support HRS’s commercial and industrial development in a rapidly evolving hydrogen market,” says Hassen Rachedi, Chief Executive Officer of HRS.
Furthermore, at the beginning of August, HRS signed a three-year cooperation agreement with Baker Hughes to jointly develop hydrogen infrastructures for the mobility and industrial markets with the US technology company ( more on this ).
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Hydrogen Refueling Solutions plans to sell its headquarters to Azur Datacenter and then lease it long-term. © Hydrogen Refueling Solutions SA
