McPhy announces the initiation of coverage of its stock by ODDO-BHF

La Motte-Fanjas, May 7, 2021 – 8:00 am CEST – McPhy (Euronext Paris, C Compartment: MCPHY, FR0011742329), a specialist in zero-carbon hydrogen production and distribution equipment (electrolyzers and recharging stations), is pleased to announce the initiation of coverage of its stock by ODDO-BHF with a study entitled “On track for industrial scale in green hydrogen”.

In order to broaden its coverage of growth stocks dedicated to the energy transition, ODDO-BHF has decided to initiate the coverage of the McPhy stock.

The McPhy stock is also covered by the brokerage firms:

  • Barclays;
  • Berenberg;
  • Bryan Garnier;
  • Gilbert Dupont / Groupe Société Générale;
  • Kepler Cheuvreux;
  • Panmure Gordon; and
  • Portzamparc / Groupe BNP Paribas.

Upcoming of financial communication events:

• Annual General Meeting on June 17, 2021
• Publication of half-yearly results on July 27, 2021 after market close

About McPhy

In the framework of the energy transition, and as a leading supplier of hydrogen production and distribution equipment, McPhy contributes to the deployment of zero-carbon hydrogen throughout the world.

Thanks to its wide range of products and services dedicated to the industrial, mobility and energy markets, McPhy provides turnkey solutions to its clients adapted to their applications in industrial raw material supply, fuel cell electric car refueling or renewable energy surplus storage and valorization.
As a designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production units based in Europe (France, Italy, Germany).

The company’s international subsidiaries ensure a global sales coverage of McPhy’s innovative hydrogen solutions.

McPhy is listed on NYSE Euronext Paris (Segment C, ISIN code: FR0011742329; ticker: MCPHY).

www.mcphy.com

Media relations

NewCap
Nicolas Merigeau
T. +33 (0)1 44 71 94 98
mcphy@newcap.eu

Investor relations

NewCap
Emmanuel Huynh
T. +33 (0)1 44 71 94 99
mcphy@newcap.eu

 

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McPhy signs a technological partnership with Plastic Omnium to strengthen its station offering and develop the hydrogen mobility ecosystem

• A technological partnership focused, in particular, on filling protocols and interfaces between hydrogen stations and high-pressure tanks, in order to optimize the performance of this equipment
• A collaboration based on a sector logic to pool expertise, develop an industrialized and standardized approach and increase the competitiveness of hydrogen mobility

La Motte-Fanjas, May 6, 2021 – 07:30 am CEST – McPhy (Euronext Paris Compartiment C: MCPHY, FR0011742329), specialized in zero-carbon hydrogen production and distribution equipment (electrolyzers and refueling stations), announces having signed a technological partnership with Plastic Omnium, notably with the aim of collaborating on filling protocols and interfaces between hydrogen stations and high-pressure tanks. By pooling certain key areas of expertise and cooperating on a sector-wide basis, the two groups intend to improve the performance and compatibility of this equipment, which is a key factor in the security and reliability of safe and rapid refueling, in line with market standards. The progress made will accelerate the industrialization of decarbonized hydrogen in transport and enable a successful transformation towards sustainable mobility.

Laurent Carme, CEO of McPhy, comments: “This partnership with Plastic Omnium, with whom we share the same technological and industrial challenges, is an example of cooperation that McPhy intends to implement in order to cross-fertilize its expertise with other major stakeholders in the hydrogen sector, in a true sector logic. It allows us to accelerate the development of hydrogen stations, to prepare an industrialized, market-scaled and competitive offer.”

Laurent Favre, CEO of Plastic Omnium, adds: “Sustainable mobility challenges require an agile and open approach. This partnership with McPhy ties in perfectly with Plastic Omnium’s strategy to develop its expertise in this sector in order to extend its technological and industrial lead in the rapidly growing hydrogen market.”

Technological cooperations and cross fertilization of offers

The cooperation between McPhy and Plastic Omnium should materialize by a research and development component, by trainings in the two groups technologies, but also by potential commercial partnerships, in an approach open, in particular, to other companies. Furthermore, McPhy and Plastic Omnium plan to promote hydrogen to mobility stakeholders through a support and consulting approach, prior to their needs and their hydrogen projects.

Upcoming of financial communication events

• Annual General Meeting, June 17, 2021
• Publication of half-yearly results on July 27, 2021, after market close

About McPhy

In the framework of the energy transition, and as a leading supplier of hydrogen production and distribution equipment, McPhy contributes to the deployment of zero-carbon hydrogen throughout the world.

Thanks to its wide range of products and services dedicated to the industrial, mobility and energy markets, McPhy provides turnkey solutions to its clients adapted to their applications in industrial raw material supply, fuel cell electric car refueling or renewable energy surplus storage and valorization.
As a designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production units based in Europe (France, Italy, Germany).

The company’s international subsidiaries ensure a global sales coverage of McPhy’s innovative hydrogen solutions.

McPhy is listed on NYSE Euronext Paris (Segment C, ISIN code: FR0011742329; ticker: MCPHY).

www.mcphy.com

Media relations

NewCap
Nicolas Merigeau
T. +33 (0)1 44 71 94 98
mcphy@newcap.eu

Investor relations

NewCap
Emmanuel Huynh
T. +33 (0)1 44 71 94 99
mcphy@newcap.eu

 

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McPhy announces a strategic partnership with TSG for the maintenance of its hydrogen stations

• Strengthening of McPhy’s service offer, to support the transition to the industrial scale
• TSG, a renowned partner and leader in the installation and 24/7 maintenance of fuel, gas and electric charging stations with over 40,000 stations under contract across Europe
• A solid alliance to win new tenders

La Motte-Fanjas, April 15, 2021 – 07:30 am CEST – McPhy (Euronext Paris: MCPHY – ISIN: FR0011742329), specialized in zero-carbon hydrogen production and distribution equipment, announces today having signed a strategic agreement with TSG, the leading European provider of installation and maintenance services for energy distribution networks (traditional fuels, biofuels, natural gas, electricity, hydrogen, etc.) in Europe, in order to delegate the maintenance of some of its hydrogen stations to TSG and to jointly respond to some calls for tender.

This strategic agreement is a new step to become a reference player in hydrogen stations by responding 24/7 to clients’ requirements with a leading partner.

Laurent Carme, CEO of McPhy, states : “This strategic agreement signed with TSG allows us to go further in structuring our service offer for hydrogen stations. Our “Service” team, formed by experts in hydrogen technologies, will be able to rely on a partner of TSG’s stature, whose network extends throughout Europe. This cooperation will allow us to reinforce the reactivity and competitiveness of our hydrogen station maintenance services, while respecting the highest standards for our customers.”

 

Marco Luccioli, Customer Service Officer, adds: “Our “Service” team continues to be the reference for our customers, not only for technical questions, but also for the evolutions and updates of our technologies. In the age of digitalization, our experts are also fully engaged in the development of our remote monitoring and diagnostics offering. By strengthening our range of services, in particular with the partnership concluded with TSG, McPhy is developing a solid maintenance network, trained in hydrogen technologies and dedicated to Customer satisfaction. “

By developing strategic agreements with key players such as McPhy, TSG is building the foundations for its strong development in the new mobility industry.

Jean-Marc Bianchi, Chairman and CEO of the TSG Group, comments: “Becoming a privileged partner of McPhy is an important step in the rapid deployment of our strategy and ambition to become the reference player in services and solutions related to new mobility energies. We will accelerate our involvement in hydrogen and participate in its development for clean mobility. This alliance with McPhy recognises the expertise of our teams, based in all European countries and in Africa, in the gas business (CNG/LNG, LPG and Hydrogen). Thanks to the pooling of our skills we will strengthen our expertise in hydrogen. By developing strategic agreements with key players such as McPhy, TSG is building the foundations for its strong development in green energy for mobility.”

Strengthen the service offer alongside industrial development

The agreement signed with TSG will allow McPhy to offer first class 24/7 maintenance for its hydrogen stations, drawing on a recognized expertise in both renewable energy distribution and traditional fuel stations. This cooperation supports the service offer for the industrial scale-up of McPhy stations projects. Already materialized by 35 stations (1) installed or being installed, this industrial scale-up will accelerate with the development of an ever-growing portfolio of project opportunities.

This continuous growth in the number of projects is coupled with increasingly high requirements in terms of availability and response times. To address this demand, McPhy will offer a high level of services, supported by TSG’s network of employees with a very tight territorial coverage in Europe. McPhy’s Service teams will be able to refocus on projects under development, training, preventive maintenance and the development of a predictive maintenance offer, based on the collection and analysis of large volumes of data (“data analysis”) ; while TSG’s teams, already present in hydrogen, will further strengthen their organization in this sector of the future.

A consolidated commercial position

The agreement also includes participation in joint tenders without imposing an exclusive relationship between the two partners, who will remain free to develop collaborations with third parties in the hydrogen station segment. This alliance reinforces McPhy’s position in mobility solutions through an efficient follow-up capacity for clients, not only at the time of the installation of the stations but throughout the life of the project, in order to allow operators to optimize the full cost of their installations (“TCO”, for “Total Cost of Ownership”). The two Groups are currently working on several tenders and have already identified new project opportunities.

Footnotes

(1) Among these 35 stations, 2 stations are part of the conditional part of the ZEV framework contract signed in June 2020.

Next financial communications

• Annual General Meeting, on June 17, 2021
• 2021 Half-Year Results, on July 27, 2021 (after market)

About McPhy

In the framework of the energy transition, and as a leading supplier of hydrogen production and distribution equipment, McPhy contributes to the deployment of zero-carbon hydrogen throughout the world.

Thanks to its wide range of products and services dedicated to the industrial, mobility and energy markets, McPhy provides turnkey solutions to its clients adapted to their applications in industrial raw material supply, fuel cell electric car refueling or renewable energy surplus storage and valorization.
As a designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production units based in Europe (France, Italy, Germany).

The company’s international subsidiaries ensure a global sales coverage of McPhy’s innovative hydrogen solutions.

McPhy is listed on NYSE Euronext Paris (Segment C, ISIN code: FR0011742329; ticker: MCPHY).

www.mcphy.com

Media relations

NewCap
Nicolas Merigeau
T. +33 (0)1 44 71 94 98
mcphy@newcap.eu

Investor relations

NewCap
Emmanuel Huynh
T. +33 (0)1 44 71 94 99
mcphy@newcap.eu

 

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McPhy is participating at the Hanover fair and will present its projects with the APEX Group for its zero-carbon hydrogen plant

• McPhy to hold a livestream on Thursday 15 April jointly with APEX Group
• They will present their project of zero-carbon hydrogen plant equipped with McPhy 2 MW electrolysis platform and a 200 kg / day hydrogen refueling station being installed
• A project emblematic of the zero-emission mobility of the future

La Motte-Fanjas, April 12, 2021 – 7:30 am CEST – McPhy (Euronext Paris: MCPHY – ISIN: FR0011742329), specialized in zero-carbon hydrogen production and distribution equipment, announces today its participation in the digital edition of the Hannover Messe, the biggest global trade fair for industry innovation and digitalization. McPhy is an exhibitor with a digital booth (1) which presents the company profile and product portfolio.

Presentation of McPhy’s achievements in the APEX Group zero-carbon hydrogen plant

During the event McPhy and its partner APEX Group will hold a livestream on Thursday, April 15 from 14.30 to 14.55 about “From regional supply to industrial use of hydrogen”. During this livestream, McPhy, represented by Florian Bergen, its Sales Director for Germany and Central Europe, and APEX Group, represented by Peter Sponholz, its Chief Technical Officer, will discuss their collaboration on the zero-carbon plant project that will both power the headquarters of APEX at Rostock-Laage with electricity and heating and refuel all types of vehicles with green hydrogen.

For this project, McPhy delivered and installed a 2 MW electrolysis platform, producing over 300 tons of zero-carbon hydrogen from renewable energy per year (2). A hydrogen refueling station McFilling is also being installed (3) and will be McPhy’s first reference in the mobility sector in Germany.

With a capacity of delivering 200 kg of hydrogen per day, the station will be connected to the 2 MW electrolyzer and will be able to power all vehicles including buses. The hydrogen will be used to refuel locally as well as to be distributed to other mobility use cases in the region.

APEX® | McFilling H2 fueling station,
in presence of the Head of State of Mecklenburg-Vorpommern Manuela Schwesigduring her visit to APEX

This project, combining production and distribution of renewable hydrogen fits perfectly with the plan developed by the German government which aims to invest €7 billion in order to produce 5 GW (approximately 14 TWh) by 2030 and 10 GW by 2040, scaling up the industry and making zero-carbon hydrogen competitive especially in heavy transportation.

With its size, this project marks a necessary step in synchronizing the ramp-up of technologies and industrial capacities to move towards large-scale green hydrogen projects.

As the first reference in Germany, it’s also an ideal step for McPhy in the implementation of its roadmap to prepare for the scaling up of the hydrogen technologies that are essential to the decarbonization of the industry, mobility and energy sectors.

Next financial communications

  • Annual General Meeting, on June 17, 2021
  • 2021 Half-Year Results, on July 27, 2021 (after market)

About McPhy

In the framework of the energy transition, and as a leading supplier of hydrogen production and distribution equipment, McPhy contributes to the deployment of zero-carbon hydrogen throughout the world.

Thanks to its wide range of products and services dedicated to the industrial, mobility and energy markets, McPhy provides turnkey solutions to its clients adapted to their applications in industrial raw material supply, fuel cell electric car refueling or renewable energy surplus storage and valorization.
As a designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production units based in Europe (France, Italy, Germany).

The company’s international subsidiaries ensure a global sales coverage of McPhy’s innovative hydrogen solutions.

McPhy is listed on NYSE Euronext Paris (Segment C, ISIN code: FR0011742329; ticker: MCPHY).

www.mcphy.com

Media relations

NewCap
Nicolas Merigeau
T. +33 (0)1 44 71 94 98
mcphy@newcap.eu

Investor relations

NewCap
Emmanuel Huynh
T. +33 (0)1 44 71 94 99
mcphy@newcap.eu

 

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McPhy announces the initiation of coverage of its stock by BERENBERG

La Motte-Fanjas, March 19, 2021 – 5:45 pm CET – McPhy (Euronext Paris, C Compartment: MCPHY, FR0011742329), a specialist in zero-carbon hydrogen production and distribution equipment (electrolyzers and recharging stations), is pleased to announce the initiation of coverage of its stock by BERENBERG with a study entitled “Huge growth ahead”.

In order to broaden its coverage of growth stocks dedicated to the energy transition, BERENBERG has decided to initiate the coverage of the McPhy stock.

The McPhy stock is also covered by the brokerage firms:

  • Gilbert Dupont / Société Générale Group;
  • Portzamparc / BNP Paribas Group;
  • Bryan Garnier; and
  • Kepler Cheuvreux.

Next financial communication

2021 Half-Year Results, on July 27, 2021 after close of market.

About McPhy

In the framework of the energy transition, and as a leading supplier of hydrogen production and distribution equipment, McPhy contributes to the deployment of zero-carbon hydrogen throughout the world.

Thanks to its wide range of products and services dedicated to the industrial, mobility and energy markets, McPhy provides turnkey solutions to its clients adapted to their applications in industrial raw material supply, fuel cell electric car refueling or renewable energy surplus storage and valorization.
As a designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production units based in Europe (France, Italy, Germany).

The company’s international subsidiaries ensure a global sales coverage of McPhy’s innovative hydrogen solutions.

McPhy is listed on NYSE Euronext Paris (Segment C, ISIN code: FR0011742329; ticker: MCPHY).

www.mcphy.com

Media relations

NewCap
Nicolas Merigeau
T. +33 (0)1 44 71 94 98
mcphy@newcap.eu

Investor relations

NewCap
Emmanuel Huynh
T. +33 (0)1 44 71 94 99
mcphy@newcap.eu

 

Connect with us!

Keep up with our news by following us on

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McPhy announces the initiation of coverage of its stock by Kepler Cheuvreux

La Motte-Fanjas, March 17, 2021 – 7:45 am CET – McPhy (Euronext Paris, C Compartment: MCPHY, FR0011742329), a specialist in zero-carbon hydrogen production and distribution equipment (electrolyzers and recharging stations), is pleased to announce the initiation of coverage of its stock by KEPLER CHEUVREUX with a study entitled “Too big not to be a part of it”.

In order to increase and strengthen its international visibility strategy, McPhy has decided to extend the coverage of its stock by Kepler Cheuvreux.

The financial report by Kepler Cheuvreux, released today, is available on the website www.keplercheuvreux.com under « Research Hub Public Access ».

The McPhy stock is also covered by the following brokerage firms:

  • Gilbert Dupont / Société Générale Group;
  • Portzamparc / BNP Paribas Group; and
  • Bryan Garnier.

Next financial communication

2021 Half-Year Results, on July 27, 2021 after close of market.

About McPhy

In the framework of the energy transition, and as a leading supplier of hydrogen production and distribution equipment, McPhy contributes to the deployment of zero-carbon hydrogen throughout the world.

Thanks to its wide range of products and services dedicated to the industrial, mobility and energy markets, McPhy provides turnkey solutions to its clients adapted to their applications in industrial raw material supply, fuel cell electric car refueling or renewable energy surplus storage and valorization.
As a designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production units based in Europe (France, Italy, Germany).

The company’s international subsidiaries ensure a global sales coverage of McPhy’s innovative hydrogen solutions.

McPhy is listed on NYSE Euronext Paris (Segment C, ISIN code: FR0011742329; ticker: MCPHY).

www.mcphy.com

Media relations

NewCap
Nicolas Merigeau
T. +33 (0)1 44 71 94 98
mcphy@newcap.eu

Investor relations

NewCap
Emmanuel Huynh
T. +33 (0)1 44 71 94 99
mcphy@newcap.eu

 

Connect with us!

Keep up with our news by following us on

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2020 Results: Acceleration of development and industrial ramp-up

• Strong commercial dynamics materialized by the 75% increase in firm order intake (1) in 2020
• Capital increase of €180 million to strengthen the Group’s financial capacity and consolidate the shareholder structure around strategic and industrial partners
• Operational ramp-up to accelerate positioning on increasingly large-scale projects and the development of cutting-edge technologies
• Objective to be among the leaders in equipment for the production and distribution of renewable hydrogen

La Motte-Fanjas, March 09, 2021 – 5:45pm CET – McPhy (Euronext Paris, C Compartment: MCPHY, FR0011742329), a specialist in zero-carbon hydrogen production and distribution equipment (electrolyzers and recharging stations), today announces its results for the financial year 2020, ended December 31, and approved today by the Company’s Board of Directors.

Thanks to this momentum and the tremendous commitment of its team, McPhy experienced in 2020 a very strong acceleration of its commercial and industrial development in 2020.

Laurent Carme, CEO of McPhy, states: “The year 2020 marked a decisive turning point for the entire hydrogen industry. The launch of major public projects in Europe with the hydrogen strategy unveiled by the Commission in June, and in France with the announcement in September of the €7 billion investment plan, made clear the fantastic potential of renewable hydrogen to succeed in the energy transition. Thanks to this momentum and the tremendous commitment of its team, McPhy experienced in 2020 a very strong acceleration of its commercial and industrial development in 2020. With more than 44 MW of electrolyzers and 35 hydrogen stations installed or in the process of being installed, orders up 75% to €23 million and €198 million following the €180 million fund-raising in October 2020, McPhy now has the means to achieve its ambitions: to successfully complete the major contracts signed in the past few months, to simultaneously develop the new generations of electrolyzers and stations needed to remain at the forefront of its market, and to move to industrial scale. Our ambition is to become a major European leader in hydrogen.”

2020 KEY HIGHLIGHTS

Sustained growth in revenue and soaring order book

McPhy’s revenue increased by 20% to €13.7 million in financial year 2020, compared to €11.4 million in 2019. Revenue is made up of 60% of electrolyzers sales (including 49% of large-capacity electrolyzers and 11% of smaller capacity electrolyzers) and 40% of hydrogen station sales.

Nearly 50% of the Group’s revenue in 2020 is generated by system solutions combining both electrolyzers and stations, demonstrating the relevance of McPhy’s strategic positioning in its two product segments. The backlog (2) increased by 153% over the year, from €6.0 million at December 31, 2019 to €15.2 million at December 31, 2020.

During the financial year, the commercial dynamic remained very strong despite the epidemic context. Order intake at 31 December 2020 was €23 million, an increase of 75% compared to the previous year. McPhy was able to position itself on projects in France and Europe that are increasingly significant in line with the Group’s strategy, and in particular:

  • “Djewels” project(3), Netherlands: McPhy has been selected by Nouryon and Gasunie, two leading industrial players, to equip one of the largest zero-carbon hydrogen production units in an industrial environment (20 MW at the heart of a chemical park) in Europe;
  • “Zero Emission Valley” project (4), France: McPhy has been selected, alongside Atawey and TSM-HRS, by the project company Hympulsion to equip the largest zero-emission hydrogen mobility deployment project in France and one of the most ambitious in Europe;
  • “AUXR_H2″ project (5), France: McPhy was selected by Hynamics, an EDF Group subsidiary specializing in hydrogen, to install a complete chain of zero-carbon hydrogen to supply a fleet of buses in Auxerre;
  • “Dijon Métropole Smart EnergHy” project (6), France: McPhy was selected by Rougeot Energie to equip two stations with a capacity of 400 kg / day, coupled with 1 MW of electrolysis;
  • “Hyport” project (7), France: McPhy was selected by ENGIE Solutions to design, build and integrate 1 MW of high-power electrolysis and two hydrogen stations in the immediate surroundings of the Toulouse Blagnac airport runways and roadways.

 

McPhy has also concluded over the period agreements relating to significant new projects in France to equip the “mobility” component of a zero-emission hydrogen ecosystem in the Centre-Val de Loire region (8).

During the year, McPhy also deployed several major projects, including:

  • A 2MW electrolysis platform with the German engineering and cleantech company Apex Energy (9); and
  • A hydrogen station in Le Mans with Total (10).
  • At the end of December 2020, the Group now has a fleet of more than 44 MW of high-power electrolyzers and 35 hydrogen stations installed or in the process of being installed.

Evolution of the installed base or in the process of being installed

Results reflecting McPhy’s strategy in developing its capabilities

As of December 31, 2020, the Group’s 2020 recurring operating loss amounted to €8.8 million. The decline in profit from recurring operations over the year reflects the Company’s strong development and the structuring efforts undertaken in 2020.

Purchases consumed increased in proportion to revenue by 20%, reflecting the growth in activity.

The reinforcement and structuring of the teams resulted in a 24% increase in personnel expenses, including a 3% increase due to the non-cash IFRS2 restatement. The recruitment of 12 people over one year brings the number of employees to 110 at December 31, 2020.

External costs remained stable and the Company continued to invest and pursue its efforts in research and innovation. These efforts will continue and intensify in fiscal year 2021 to keep pace with market growth.

The Company was impacted by an unfavorable effect compared to fiscal year 2019, as nearly €3 million of repayable advances waiver had been recognized as revenue in 2019. Excluding this effect, the 2019 result would have been equivalent to the 2020 result, i.e. -€9.3 million.

Operating loss for the year ended December 31, 2020 was €9.0 million and net income was €9.3 million, reflecting the low level of financial expenses, which were mainly impacted by exchange rate fluctuations. This result reflects the strong investment strategy initiated by McPhy in 2020 for the recruitment of talent, the development of innovative solutions in electrolyzers and stations and the industrialization of its offer. This policy will continue over the financial year 2021 and the next years in line with the “use of proceed” of the October 2020 raising. This policy forms part of a strong acceleration in the hydrogen market and a generalized approach of investment in the future by all the stakeholders in the value chain.

Cash position

As of December 31, 2020, McPhy had a cash position of €198 million.

In order to secure its growth and strengthen its partnerships through capital ties, the Group carried out a capital increase in October 2020. Several times oversubscribed, the Offer enabled McPhy to raise €180 million with a subscription price for the new shares representing a very limited discount. The Group has thus strengthened its shareholder base, on the one hand, by consolidating its relationship with the Group’s historical strategic shareholders:

  • EDF through EDF Pulse Croissance Holding;
  • Bpifrance through the Ecotechnologies Investment Fund;

And, on the other hand, by bringing into the capital two industrial partners, leaders in their respective fields, and who have signed an industrial partnership agreement with the Company on the occasion of their investment:

  • Chart Industries: world leader in equipment for liquefaction (LNG and liquid hydrogen) and cryogenics;
  • Technip Energies: international engineering, procurement, construction and installation (EPC) group for the energy market, world leader in the installation of hydrogen production systems (SMR).

The success of this fund raising symbolizes both the confidence and commitment of the Group’s financial and industrial partners as well as the growing interest of investors in zero-carbon hydrogen solutions

Emilie Maschio, CFO of McPhy, comments: “Thanks to this transaction, McPhy has significantly strengthened its financial capabilities and attracted new, well-known shareholders. The success of this fund raising symbolizes both the confidence and commitment of the Group’s financial and industrial partners as well as the growing interest of investors in zero-carbon hydrogen solutions. At the end of the year, McPhy’s new stock market status enabled it to be included in two new prestigious indices: the MCSI World Small Cap and the SBF 120.”

_VISION AND FUTURE PERSPECTIVES

Continued growth investments to accelerate the deployment of the Group’s strategy

The Group’s industrialization phase is a key step in increasing competitiveness and enabling profitability in the short to medium term. This transition to industrial scale will only be possible by continuing and accelerating investments in terms of development, recruitment, tools and equipment.

McPhy intends to remain at the technological forefront in its two equipment segments, continuing its R&D investments in order to meet the challenges of the massification of the hydrogen market and to develop the new generations of its equipment. The Group is focusing on developing its capacities both in electrolyzers in order to be able to position itself on projects over 100 MW and in hydrogen stations (>2 tons per day).

The Group is also stepping up its operational ramp-up and the industrialization of its production facilities in order to gain competitiveness and foster cost synergies. McPhy will acquire a new plant in France, enabling it to increase the capacity of its hydrogen stations from 20 stations to 100 stations per year by 2022. At the same time, the San Miniato site in Italy, after some investments, will in the first instance enable the Group to reach a capacity of 300 MW per year and the Group is already considering several possibilities for locating its future Giga Factory with an additional capacity of 1,000 MW per year.

In parallel with these developments, McPhy is deploying its teams and strengthening its organization and processes. Thus, Mr. Antoine Ressicaud has joined the Company as Chief Manufacturing & Procurement Officer, Mr. Olivier Juino also joined the Company at the beginning of the year as Strategy director, Mr. Alexander Picco has been appointed as Project Management Officer in 2020. All three are members of McPhy’s Executive Committee, which was further structured by area of expertise in September 2020 (11).

As of December 31, 2020, McPhy counted 110 employees who are experts in zero-carbon hydrogen solutions. The acceleration of the strategic deployment should take shape in 2021, notably through the recruitment of some 50 new employees. The Group’s strength lies in its men and women, whose cultural diversity is represented by 20 different nationalities. This richness enables the Group to benefit from a great flexibility and agility.

Deep integration into hydrogen ecosystems

In order to enhance its offer and participate in the promotion of renewable hydrogen, McPhy is deeply committed to its industry. Mr. Laurent Carme, its Chief Executive Officer, has just been appointed to the National Hydrogen Council, a French organization whose role is to structure exchanges between the State and the various stakeholders in the implementation of the national strategy for the development of decarbonated hydrogen. In France, McPhy is also a long-time active member of France Hydrogène (formerly Afhypac).

At the European level, McPhy is also active in Hydrogen Europe, the leading European association promoting zero-emission hydrogen with more than 185 members.

Finally, its commitment is also expressed at the international level through its participation in the Hydrogen Council, a global initiative bringing together leaders of major companies who share the idea that hydrogen is key to the energy transition.

In parallel with these commitments, McPhy is working to build strategic alliances that are real levers for its products and solutions. During this fiscal year, the Group collaborated with major partners in joint projects:

  • Participation in the group of 30 energy companies that launched the “HyDeal Ambition” project, which prefigures the future European totally green hydrogen industry with the objective of producing decarbonated energy at a price equivalent to fossil fuels (€1.5/kg (12));
  • Active industrial and commercial partnership for the development of zero-carbon hydrogen with Hynamics, a subsidiary of the EDF Group dedicated to low-carbon hydrogen;
  • Industrial and commercial partnership with Chart Industries: world leader in liquefaction (LNG and liquid hydrogen) and cryogenics;
  • Industrial and commercial partnership with Technip Energies: international engineering, procurement, construction and installation (EPC) group for the energy market, world leader in the installation of hydrogen production systems (SMR);
  • Technological partnership with De Nora: development of innovative high current density electrodes, integrated in the new generation of McPhy electrolyzers.

Positioning McPhy in ever-expanding markets

The development of hydrogen in the world experienced a real breakthrough in 2020. In a context of climate emergency made even more acute by the Covid-19 crisis, initiatives have been multiplied at both European and national levels, illustrating the new understanding of the role that the hydrogen sector will play in the energy transition. The Group’s offer is in line with European ambitions to meet market expectations, namely 6 GW by 2024 (13) and 750 station projects by 2025 (14).

In this promising context, strengthened by the emblematic contracts recently won, the growth of its installed base in France and internationally, and its technological lead, particularly in alkaline electrolysis, the most mature and competitive technology in the industry, McPhy aims to become one of the leaders in the production and distribution of hydrogen equipment.

Footnotes

(1) Orders materialized by signed purchase orders
(2) Order intakes not yet booked as revenue
(3) https://mcphy.com/en/press-releases/industrial-hydrogen-a-20-mw-project-in-the-netherlands/
(4) https://mcphy.com/en/press-releases/zero-emission-valley-3/
(5) https://mcphy.com/en/press-releases/zero-carbon-hydrogen/ – Ademe is a partner in this project – This project has received funding from the Fuel Cells and Hydrogen 2 Joint Undertaking program as part of the European Union’s “Horizon 2020” research and innovation program under grant agreement no. 77956.
(6) https://mcphy.com/en/press-releases/new-contrat-hydrogen-mobility/
(7) https://mcphy.com/en/press-releases/hyport/
(8) https://mcphy.com/en/press-releases/projects-in-zero-emission-mobility/
(9) https://mcphy.com/en/press-releases/2-mw-of-electrolysis-in-germany/
(10) https://mcphy.com/en/press-releases/inauguration-of-a-hydrogen-station-in-le-mans/
(11) https://mcphy.com/fr/investisseurs/groupe-mcphy/gouvernance/comite-executif/
(12) Including transport and storage
(13) European Commission in the framework of the Green Deal
(14) 2019 FCH JU’s Hydrogen Roadmap

Next financial communication

2021 Half-Year Results, on July 27, 2021 (after market)

About McPhy

In the framework of the energy transition, and as a leading supplier of hydrogen production and distribution equipment, McPhy contributes to the deployment of zero-carbon hydrogen throughout the world.

Thanks to its wide range of products and services dedicated to the industrial, mobility and energy markets, McPhy provides turnkey solutions to its clients adapted to their applications in industrial raw material supply, fuel cell electric car refueling or renewable energy surplus storage and valorization.
As a designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production units based in Europe (France, Italy, Germany).

The company’s international subsidiaries ensure a global sales coverage of McPhy’s innovative hydrogen solutions.

McPhy is listed on NYSE Euronext Paris (Segment C, ISIN code: FR0011742329; ticker: MCPHY).

www.mcphy.com

Media relations

NewCap
Nicolas Merigeau
T. +33 (0)1 44 71 94 98
mcphy@newcap.eu

Investor relations

NewCap
Emmanuel Huynh
T. +33 (0)1 44 71 94 99
mcphy@newcap.eu

 

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McPhy announced as a key partner by the company HYPORT to equip Toulouse-Blagnac airport with a complete zero-carbon hydrogen chain

• Two hydrogen stations and 1 MW of electrolysis will equip Toulouse-Blagnac airport
• The solution developed will satisfy mobility and logistics needs, and will supply hydrogen to industrial sites interested in decarbonizing their processes
• This contract was announced in a press release on August 3, 2020 and prefigures the deployment of hydrogen in an airport environment

La Motte-Fanjas, March 4, 2021 – 7:45 am CET – McPhy (Euronext Paris: MCPHY – ISIN: FR0011742329), (the “Company”), a specialist in zero-carbon hydrogen production and distribution equipment, has been announced by HYPORT, a company 51% owned by ENGIE Solutions and 49% by the Occitanie Regional Energy and Climate Agency, as a key partner to design, manufacture and integrate two hydrogen stations and 1 MW of high-power electrolysis. This project was announced in a press release on August 3, 2020 (1).

Two hydrogen stations will be located in the immediate surroundings of the airport’s runways and roadways. They will enable all types of vehicles (buses, light commercial vehicles, captive fleets, large goods vehicles, etc.) to be refueled with hydrogen thanks to the “Dual Pressure” configuration (two distribution pressures: 350 and 700 bar) of one of them. The deployed electrolyzer, with a capacity of 400 kg per day, or the equivalent of 1 MW, will supply the stations as well as the nearby industrial sites. Deployment of the equipment is scheduled for the end of 2021.

This complete zero-carbon hydrogen production and distribution solution will power nearly 200 vehicles, including a fleet of 4 buses operated by Transdev to transport passengers within the airport.

Beyond its pioneering nature, the specificity of this project is based on the setting up of one station in a private restricted zone for airport services, while the second will be deployed in a public zone. McPhy’s selection for this project reflects the technical nature of its offer and its high level of service and support, supporting the deployment of hydrogen as a solution for the energy transition in the aeronautical sector.

Combining mobility, logistics and industrial uses, airports constitute real energy hubs, ideal for the development of hydrogen-based ecosystems. By producing and distributing zero-carbon hydrogen to power their services or taxi and bus fleets, airport areas are contributing to zero-emission strategies and the fight against climate change.

This project is counted in the 35 stations (2) and 44 MW (3) in reference for McPhy and demonstrates the maturity of its technology in the service of emblematic projects for the development of zero-carbon hydrogen, in France as well as internationally.

Next financial communication

2020 annual results release, on March 9, 2021, after close of market.

Footnotes

(1) https://mcphy.com/en/press-releases/new-contract-high-capacity-hrs-ely/
(2) References deployed, under installation or in development. Among them: 2 stations are included in the ZEV framework contract’s conditional part [contract signature: 18, June 2020].
(3) References deployed, under installation or in development. Among them: 4 MW are included in the ZEV framework contract’s conditional part [contract signature: 18, June 2020].

Download the McPhy release [PDF]

Press Release | EN Communiqué de presse | FR

Download the HYPORT release [PDF]

Press Release | EN Communiqué de presse | FR

About McPhy

In the framework of the energy transition, and as a leading supplier of hydrogen production and distribution equipment, McPhy contributes to the deployment of zero-carbon hydrogen throughout the world.

Thanks to its wide range of products and services dedicated to the industrial, mobility and energy markets, McPhy provides turnkey solutions to its clients adapted to their applications in industrial raw material supply, fuel cell electric car refueling or renewable energy surplus storage and valorization.
As a designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production units based in Europe (France, Italy, Germany).

The company’s international subsidiaries ensure a global sales coverage of McPhy’s innovative hydrogen solutions.

McPhy is listed on NYSE Euronext Paris (Segment C, ISIN code: FR0011742329; ticker: MCPHY).

www.mcphy.com

Media relations

NewCap
Nicolas Merigeau
T. +33 (0)1 44 71 94 98
mcphy@newcap.eu

Investor relations

NewCap
Emmanuel Huynh
T. +33 (0)1 44 71 94 99
mcphy@newcap.eu

 

Connect with us!

Keep up with our news by following us on

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McPhy’s 2020 revenue increased by 20% and firm orders by 75 %: a very good business trend highlighted by emblematic projects

• Signing of major commercial contracts in France and Europe, with revenue of €13.7 million, representing an increase of +20%, and firm order intake (1) of €23.0 million in 2020, a growth of +75% compared with 2019

• New strategic partnerships with Chart Industries and Technip Energies, leading industrial players

• Cash position of €198 million at 31 December 2020, thanks to the €180 million capital increase in October 2020 for the industrialization of production methods, the development of new generations of machines and the acceleration of international commercial development

La Motte-Fanjas (France), January 26, 2021 – 5:45 pm CET – McPhy (Euronext Paris Compartment C: MCPHY, FR0011742329), a specialist in zero-carbon hydrogen production and distribution equipment, today announces its annual revenue for the year to December 31, 2020.

(2) Unaudited figures as of the date of this document

Hydrogen gains momentum and I would like to thank the McPhy teams, as well as all our partners, for their confidence and support in the Company’s growth.

Laurent Carme, Chief Executive Officer of McPhy, states: “2020 was marked by the signing of several contracts reflecting the transition to industrial scale of McPhy, as well as of the entire zero-carbon hydrogen industry. McPhy has demonstrated the strong attractiveness and relevance of its offer and technology to serve emblematics large-scale projects at the heart of this hydrogen revolution.

The €180 million capital increase carried out in October 2020 gives us the means to achieve our ambitions to accelerate the development of our industrial capacities and the new generations of electrolyzers and hydrogen stations that meet the size, competitiveness and safety challenges demanded by the market. It also marks the strengthening of our partnership with our historical strategic shareholders, EDF Pulse Croissance Holding and the Ecotechnologies Fund represented by Bpifrance Investissement as part of the “Programme d’Investissements d’Avenir” (set up by the French State to finance innovative and promising investments on the territory), and new strategic investors such as Chart Industries and Technip Energies.

As a major technological and industrial partner in the hydrogen industry, McPhy is well positioned to take advantage of a very favorable business trend which should continue and expand in 2021. The strategic plan for hydrogen, presented by the European Commission on July 8, 2020 which aims to develop the demand and production capacities of green hydrogen in Europe with a target of 6 gigawatts (GW) in 2024, and 40 GW in 2030, specifically supports companies of the future like McPhy. France is also committed to this voluntarist policy, with the creation in January 2021 of the National Hydrogen Council. This institution, of which McPhy is a member, has the mission to ensure the deployment of the National Strategy for the development of decarbonated hydrogen (3).

Hydrogen gains momentum and I would like to thank the McPhy teams, as well as all our partners, for their confidence and support in the Company’s growth.”

Signature of major commercial contracts in France and Europe, with revenue of €13.7 million representing an increase of +20%, and firm orders of €23.0 million for 2020, representing an increase of +75% compared with 2019

McPhy’s 2020 sales increased by 20% to €13.7 million, compared with €11.4 million in 2019. It is made up of 60% by the supply of electrolyzers (of which 49% are large-capacity electrolyzers) and 40% by hydrogen stations.

Among the outstanding events of the year:

• McPhy was selected by Nouryon and Gasunie, two leading industrial groups, to equip “Djewels” project in the north of the Netherlands, one of the largest zero-carbon hydrogen production platform (20 MW) in Europe (4)

• McPhy, alongside with Atawey and TSM-HRS, has been selected by the project company Hympulsion to equip the largest zero-emission hydrogen mobility deployment project in France and one of the most ambitious in Europe: Zero Emission Valley (5)

• McPhy has secured firm orders:

  • to equip the “mobility” part of a zero-emission hydrogen ecosystem in the Centre-Val de Loire region in France (6) ;
  • with the German engineering and cleantech company Apex Energy for a 2 MW electrolysis platform (7) ;
  • with Total to deploy a hydrogen station in Le Mans (8) ;
  • with Hynamics to provide a complete zero-carbon hydrogen chain in Auxerre(9) ;
  • with Rougeot Energie to design, build and integrate two hydrogen stations connected to a high-power electrolyzer in Dijon (10) ;
  • to equip two hydrogen refueling stations and 1 MW of electrolysis (11).

The increase in the number of projects and the change in scale of the implemented technologies are contributing to the industrialization of the sector, reducing the associated costs and encouraging the development of competitive solutions with the highest standards of performance, quality and safety.

To date, the total number of contracts for which McPhy has been selected brings to 44 MW (12) and 35 stations (13) its total number of references.

Strategic partnerships with leading industrial groups

In a particularly favorable context for zero-carbon hydrogen, McPhy has strengthened its position as a major player in this industry by signing strategic partnerships with Chart Industries and Technip Energies, two leading industrial groups in their respective sectors:

  • Chart Industries: world leader in equipment for liquefaction (LNG and liquid hydrogen) and cryogenics,
  • Technip Energies: international engineering, procurement, construction and installation (“EPC”) group for the energy market, world leader in the installation of hydrogen production systems (SMR).

In addition to their participation in the capital increase initiated on October 13, 2020, these two strategic players bring in-depth expertise that complements McPhy’s technologies. Combined with EDF’s long-standing support, a genuine ecosystem of complementary know-how and geographies has thus been formed to enable the Company to respond to very large-scale projects in the fields of industry, mobility and energy, all over the world.

Cash position of €198 million at 31 December 2020, thanks to the €180 million capital increase in October 2020 for the industrialization of production methods and international ramp-up development

Following the success of the capital increase through a private placement last October, the Company has increased its shareholder’s equity capital and has a cash position of €198 million at 31 December 2020. As mentioned in the amendment to the 2019 universal registration document (14), approved by the Autorité des Marchés Financiers on October 14, 2020, the net proceeds of this capital increase will be used primarily to accelerate the deployment of the Group’s strategy and to finance:

  • Acceleration of the change of scale of McPhy manufacturing capacity;
  • Support for investment in research and innovation, with a focus on the development of very large-capacity electrolyzers to target large-scale projects (>100MW) and very large-capacity hydrogen refueling stations (>2 tons per day);
  • Sales and marketing expenses, to accelerate the international commercial ramp-up;
  • Acceleration of the recruitment policy.

Footnotes

(1) Firm orders: orders signed
(2) Unaudited figures as of the date of this document
(3) National strategy for the development of carbon-free hydrogen published by the French government on September 8 2020. A total of €7 billion will be invested between now and 2030, including €2 billion by 2022 as part of France Relance.
(4) https://mcphy.com/en/press-releases/industrial-hydrogen-a-20-mw-project-in-the-netherlands/
(5) https://mcphy.com/en/press-releases/zero-emission-valley-3/
(6) https://mcphy.com/en/press-releases/projects-in-zero-emission-mobility/
(7) https://mcphy.com/en/press-releases/2-mw-of-electrolysis-in-germany/
(8) https://mcphy.com/en/press-releases/inauguration-of-a-hydrogen-station-in-le-mans/
(9) https://mcphy.com/en/press-releases/zero-carbon-hydrogen/
(10) https://mcphy.com/en/press-releases/new-contrat-hydrogen-mobility/
(11) https://mcphy.com/en/press-releases/new-contract-high-capacity-hrs-ely/
(12) References deployed, under installation or in development. Among them: 4 MW are included in the ZEV framework contract’s conditional part [contract signature: 18, June 2020].
(13) References deployed, under installation or in development. Among them: 2 stations are included in the ZEV framework contract’s conditional part [contract signature: 18, June 2020].
(14) https://cellar-c2.services.clever-cloud.com/com-mcphy/uploads/2020/10/McPhy_Amendement-URD-2019.pdf

Next financial communication:

2020 annual results, on March 9, 2021 (after market)

About McPhy

In the framework of the energy transition, and as a leading supplier of hydrogen production and distribution equipment, McPhy contributes to the deployment of zero-carbon hydrogen throughout the world.

Thanks to its wide range of products and services dedicated to the industrial, mobility and energy markets, McPhy provides turnkey solutions to its clients adapted to their applications in industrial raw material supply, fuel cell electric car refueling or renewable energy surplus storage and valorization.
As a designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production units based in Europe (France, Italy, Germany).

The company’s international subsidiaries ensure a global sales coverage of McPhy’s innovative hydrogen solutions.

McPhy is listed on NYSE Euronext Paris (Segment C, ISIN code: FR0011742329; ticker: MCPHY).

www.mcphy.com

Media relations

NewCap
Nicolas Merigeau
T. +33 (0)1 44 71 94 98
mcphy@newcap.eu

Investor relations

NewCap
Emmanuel Huynh
T. +33 (0)1 44 71 94 99
mcphy@newcap.eu

 

Connect with us!

Keep up with our news by following us on

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Press release

La Motte-Fanjas, on January 7th, 2021 – 05.45 pm CET – McPhy (Euronext Paris Compartment C: MCPHY, FR0011742329) specialized in zero-carbon hydrogen production and distribution equipment.

Due to the health crisis and to the administrative measures in force on the day of the convening of the shareholders’ general meeting prohibiting, pursuant to Decree n°2020-310 dated October 29th, 2020, gatherings of people, and in accordance with the provisions of Ordinance n°2020-321 dated March 25th, 2020, and in particular with article 4 of this Ordinance, whose duration was extended by Decree n°2020-925 dated July 29th, 2020, and as extended and amended by Ordinance n°2020-1497 dated December 2nd, 2020, the ordinary shareholders’ general meeting (the “General Meeting”) was held today, under the chairmanship of Mr. Pascal Mauberger, Chairman of the Board of Directors of McPhy, in camera, without the physical presence of the shareholders, at McPhy’s head office, 1115 Route de Saint-Thomas – 26190 La Motte-Fanjas upon convocation of the Board of Directors. Live and replay of the General Meeting was also provided by McPhy.

In this context, McPhy’s shareholders were able to cast their vote by correspondence or give a proxy using the voting form.

With a quorum of 42.10% (i.e. 11,728,438 shares out of the 27,855,480 voting shares), McPhy’s shareholders have very broadly adopted all of the resolutions recommended by the Board of Directors and in particular the appointments of two new board members, in the context of the share capital increase announced on October 14th, 2020:

  • appointment of Chart Industries Inc., represented by Mrs. Jillian Evanko, as director of McPhy; and
  • appointment of Technip Energies B.V., represented by Mr. Jean-Marc Aubry, as director of McPhy.

Resolution n°3 relating to the authorization and delegation to be given to the Board of Directors in order to enable it to intervene on the shares of McPhy (Determination of the terms in accordance with Article L. 225-209 of the French commercial code) was also approved by majority vote. In this regard, the Board of Directors of McPhy will meet within the next days to implement the share buyback program.

Next financial communication

2020 annual revenues release, on January 26, 2021, after markets close.

About McPhy

In the framework of the energy transition, and as a leading supplier of hydrogen production and distribution equipment, McPhy contributes to the deployment of zero-carbon hydrogen throughout the world.

Thanks to its wide range of products and services dedicated to the industrial, mobility and energy markets, McPhy provides turnkey solutions to its clients adapted to their applications in industrial raw material supply, fuel cell electric car refueling or renewable energy surplus storage and valorization.
As a designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production units based in Europe (France, Italy, Germany).

The company’s international subsidiaries ensure a global sales coverage of McPhy’s innovative hydrogen solutions.

McPhy is listed on NYSE Euronext Paris (Segment C, ISIN code: FR0011742329; ticker: MCPHY).

www.mcphy.com

Media relations

NewCap
Nicolas Merigeau
T. +33 (0)1 44 71 94 98
mcphy@newcap.eu

Investor relations

NewCap
Emmanuel Huynh
T. +33 (0)1 44 71 94 99
mcphy@newcap.eu

 

Connect with us!

Keep up with our news by following us on

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