The present invention relates to processes for producing borohydride compounds. In particular, the present invention provides efficient processes and compositions for the large-scale production of borohydride compounds of the formula YBH4 by the reaction of a boron-containing compound represented by the formula BX3 with hydrogen or an aldehyde to obtain diborane and HX, and reacting the diborane with a Y-containing base selected from those represented by the formula Y2O, YOH and Y2CO3 to obtain YBH4 and YBO2. Y is selected from the group consisting of the alkali metals, pseudo-alkali metals, alkaline earth metals, an ammonium ion, and quaternary amines of the formula NR4+, wherein each R is independently selected from hydrogen and a straight- or branched-chain C1-4 alkyl group, and X is selected from the group consisting of halide ions, —OH, —R′ and —OR′ groups, chalcogens, and chalcogenides, wherein R′ is a straight- or branched-chain C1-4 alkyl group.