Hopium Adjusts Recovery Plan and Plans Financing Up to €27M in Convertible Bonds
On Tuesday, Hopium presented a modified recovery plan project, accompanied by a new commitment for financing in convertible bonds with a maximum amount of 27 million euros over 24 months. This modification aims to adapt the company's strategy to the market conditions of hydrogen and to finance external growth operations.
Strategic Reorientation Towards Diversification
Hopium abandons the initial model of the recovery plan set in March 2025, whose commercial and financing assumptions did not materialize. The company maintains its commitment to hydrogen fuel cell technology but restructures its commercial approach around three axes: the sale of systems in small series through partnerships, the provision of engineering and integration in a streamlined model, and the development of specialized projects (competition, prototypes, educational kits). This reorientation is accompanied by a strategy of external growth aimed at accelerating commercial development, strengthening technological positions, or accessing new markets in the energy, defense, and aerospace sectors.
Subsidiarization of Activities and Financing Structure
The project includes the subsidiarization of operational activities within a dedicated entity, intended to facilitate fundraising and enhance attractiveness for partners and potential acquisitions. The Paris Economic Activities Court will exercise prior control over this operation. Atlas's financing is structured in two lines: 12 million euros in 12 tranches of 1 million to cover working capital needs and the modified plan, and 15 million euros to finance external growth operations, subject to mutual agreement. Drawings will begin from September 2026 and will be staggered over 24 months. The rate is set at 3-month Euribor + 5% with a 3% commission.
