HRS agrees €22m-€25m sale and leaseback of French headquarters
French hydrogen infrastructure company HRS has signed a preliminary agreement with Azur Datacenter, part of the Arago Technologie group, for the sale and leaseback of its headquarters and production facility in Champagnier, Isère, in a transaction valued at between €22 million and €25 million.
The agreement covers HRS’s 14,100-square-metre industrial complex, which includes offices and production facilities. HRS will remain at the site under a long-term lease, while Azur Datacenter plans to move into the facility towards the end of 2026.
The transaction is expected to be completed by the end of 2026, subject to conditions including the granting of a building permit and regulatory procedures involving Grenoble Alpes Métropole under France’s ICPE environmental framework. The agreement does not include financing as a condition to completion.
HRS said the sale and leaseback would strengthen its cash position while allowing the company to retain access to its existing industrial facilities. The additional financial flexibility is expected to support its expansion beyond hydrogen refuelling stations for heavy and intensive mobility.
The company is targeting growth in two areas in particular: hydrogen filling centres and Secure Power Units, or SPUs. Filling centres are designed to provide industrial-scale compression, storage and transfer of hydrogen between production and distribution, while SPUs use hydrogen to generate electricity for data centres, critical infrastructure and industrial sites.
Azur Datacenter plans to invest nearly €360 million at the Champagnier site and expects the development to create around 100 local jobs.
The agreement also comes alongside advanced discussions between HRS and Azur Datacenter over a broader industrial partnership focused on next-generation data centre infrastructure and improving energy efficiency.
Under the proposed collaboration, HRS would contribute its expertise in industrial piping, hydrogen-powered energy systems, hydrogen-based electricity generation and operation and maintenance services. The companies are also considering expanding their cooperation into metalwork and steel structural activities.
HRS founder and Chief Executive Hassen Rachedi said the transaction would strengthen the company’s financial position while allowing it to preserve its industrial capabilities and accelerate the development of new business areas.
“With our hydrogen stations, filling centers and Secure Power Units, HRS is becoming a key player in hydrogen energy infrastructure serving mobility, industry and critical infrastructure,” Rachedi said.
Azur Datacenter Chairman Emmanuel Vannier said the acquisition of the HRS campus represented an important step in the company’s expansion and that the two companies aimed to build a long-term partnership based on complementary industrial and technological expertise.
The proposed partnership is intended to combine hydrogen, energy infrastructure and artificial intelligence to support the development of next-generation digital infrastructure in France.
For HRS, the agreement represents a strategic shift towards a broader hydrogen infrastructure business, with the company seeking to serve demand from mobility, industrial users, data centres and other critical infrastructure markets while maintaining its position in the European hydrogen refuelling sector.
