McPhy raises €180 million to accelerate its development in zero-carbon hydrogen

FRANCE. The French manufacturer of electrolysers and storage systems McPhy welcomes, in a press release on Tuesday 14 October 2020, the success of its capital increase. Offered to strategic investors (Chart International Holdings for €30 million, Technip Energies B.V. for €15 million), its historical shareholders (EDF Pulse Croissance Holding for €6 million and the Ecotechnologies Fund of Bpi France for €8 million) and new institutional investors (for €90 million), this capital increase raised €180 million compared with the €150 million anticipated.

Based in La Motte-Fanjas (Drôme, near Romans-sur-Isère), McPhy specialises in zero-carbon hydrogen production and distribution equipment. This sum will enable the company to finance, as a priority and within forty-eight months, the worldwide expansion of its production capacity; to devote more expenditure on research and innovation solutions to the development of very large capacity electrolysers (over 100 MWH) and very large capacity hydrogen stations (over 2 tonnes per day); to speed up its recruitment policy; to increase its sales and marketing expenditure to accelerate the ramp-up of international sales and to have working capital at its disposal.

"McPhy is now ideally positioned to develop its industrial capabilities, both operationally and financially. Our new strategic partnerships, with two world leaders in their fields, provide McPhy with significant opportunities for complementarity, increased international exposure and the ability to target large-scale projects. The Group is, more than ever, well positioned to grow and ready to meet the growing needs for decarbonisation in the industrial, mobility and energy sectors. We have the ambition to become a leading player in the zero-carbon hydrogen industry," underlines Laurent Carme, CEO of the company.

EDF Pulse Croissance Holding now holds, after McPhy's 14.14% bid, the Ecotechnologies Fund (managed by BpiFrance Investissement as part of the Future Investment Programme), 6%. The two new industrial partners, Chart International and Technip Energies, hold 4.59% and 2.29% of the shares respectively.

Founded in 2008, McPhy (€11.4 million in revenues in 2019 and €5.4 million - +11% - from January to June 2020) has around 100 employees in five development, engineering and production facilities in France (La Motte-Fanjas, Grenoble, Paris), Italy (San Miniato) and Germany (Wildau).