Hopium abandons its hydrogen car dreams, will focus on fuel cells for heavy-duty machines instead
After a turbulent year under court protection, French hydrogen firm Hopium has officially received judicial approval to ditch its ambitions of building a hydrogen-powered luxury car, and instead rebrand itself as a supplier of fuel cell systems for heavy duty trucks, ships and planes.
A ruling from the Tribunal des activités économiques de Paris last week confirmed that Hopium’s plan de redressement – effectively a court-approved recovery roadmap – has been validated, following support from 11 of the 13 classes of creditors and shareholders.
The decision clears the way for Hopium to restructure its €9 million debt, raise fresh capital, and roll out its modular fuel cell stack to customers in the heavy-duty mobility sector.
The ruling ends a rocky chapter for Hopium, whose now-shelved Machina hydrogen saloon car had once promised 500 horsepower, 1,000 km of range and a dramatic grille large enough to re-oxygenate the atmosphere.
The car may be gone, but the tech lives on – Hopium claims that the engineering lessons from the Machina have led to a fuel cell system that is 30% more compact and 20% lighter than market leaders, weighing in at less than 25kg for a 100kW unit.
From fast cars to fast boats (and slow court hearings)
Hopium first entered judicial recovery in July 2023, following a familiar cocktail of cash burn and ambitious timelines for new car makers.
Since then, the company has slimmed down to around 30 people, refocused on its core stack technology, and – in its own words – “opened a new chapter” built around supplying complete hydrogen powertrains for heavy-duty transport.
In a statement released 24 March 2025, the company confirmed that the court had approved its plan to pivot toward the commercialisation of 100-400kW fuel cell modules, with early applications in marine and aerospace, followed by trucks and buses once production scales up.
Hopium says its fuel cell system has reached TRL 7, meaning it has been road-tested in real-world conditions – a key milestone for industrial deployment.
The first official customer is K-Challenge, who will use Hopium stacks in support boats for their racing operations. The first deliveries are due by mid-2025.
Shareholders can still join in. At a price.
The company now needs to raise €8 million in 2025, and a further €30 million by 2028, to fund its production site at Saint-Bonnet-de-Mure and build out a commercial team.
To do that, Hopium plans to launch a capital raise with preferential subscription rights for existing shareholders – though the company has been clear that this will come with “significant dilution” for those who don’t participate.
So far, €2.2 million has been pledged by historical investors. The rest remains open – and if they can’t lock in at least three-quarters of the required capital, Hopium warns that the plan could still collapse, potentially leading to liquidation.
Nevertheless, CEO Stéphane Rabatel struck a cautiously upbeat tone, calling the court’s decision “a key step” and “the end of uncertainty” for the firm.
The Machina refunds are in the post
There’s one final note for those who still remember the hydrogen sports saloon Hopium once promised to deliver: the company has confirmed that pre-order holders will be refunded in full, provided the court-approved plan stays on track.
So if you put down a deposit hoping to be France’s answer to Tesla, at least you’ll get your money back. Probably.
A pivot worth watching
In fairness, the new direction makes far more sense. Hydrogen still faces an unfortunate uphill climb in passenger cars – but in the world of trucks, ships, off-road equipment, and aircraft, fuel cells offer an even stronger value case, especially where long range and fast refuelling are non-negotiables.
Hopium’s technology looks credible, its ambitions more grounded, and – crucially – it now has legal clearance to go and build something people might actually buy.
Whether it becomes a hydrogen heavyweight or just another footnote depends on the next few months.
For now, though, the company has done the hard bit: admitting the Machina wasn’t going to work – and building something that might.
