Europe’s Hydrogen Race Gains Speed With Dhyve Deal

DIF and Virya’s Dhyve deal fuels growing hydrogen consolidation across Europe

15 Oct 2025

Europe’s hydrogen industry is entering a new phase of consolidation as the European Commission has approved the joint acquisition of Dutch hydrogen developer Dhyve by infrastructure investor DIF and renewable energy group Virya. The clearance, granted under a simplified review process, reflects the companies’ limited combined market share but signals growing private-sector confidence in the sector’s long-term potential.

The deal gives DIF and Virya joint control over Dhyve’s hydrogen production platform and future electrolyser projects. The partners aim to accelerate project deployment and strengthen offtake arrangements, reinforcing Europe’s emerging hydrogen value chain as the industry moves from pilot projects to commercial operations.

For Dhyve, the acquisition offers access to deeper financing and operational support, enabling faster rollout of facilities and improved integration with partner networks. Pooling investment and expertise could reduce costs and facilitate cross-border hydrogen trade, long seen as essential to achieving scale in Europe’s fragmented market.

However, challenges remain. Aligning technologies and managing regulatory differences between countries could slow development. Competition authorities have also cautioned that while consolidation may boost efficiency, it could eventually narrow market competition.

The transaction comes as Europe’s hydrogen ecosystem seeks to attract more private capital. Despite growing political backing, the sector still depends heavily on subsidies, with many projects delayed at the permitting or financing stage. Investor-led initiatives such as DIF and Virya’s are viewed as early steps toward market maturity, where hydrogen assets are treated as strategic, long-term infrastructure.

Momentum is visible elsewhere in the region. Siemens Energy recently delivered nine PEM electrolysers for Air Liquide’s 200 MW Normand’Hy project in France, marking progress toward industrial-scale hydrogen production.

As Europe’s energy transition deepens, the companies best able to combine technology, capital, and trading capabilities are expected to shape the continent’s hydrogen future.