As announced in the Group’s last communication on May 21, and despite a market that remains very buoyant, McPhy observes delays in the execution of its projects, as well as in the taking of firm orders, which are slow to materialize due to the global health context, the related restrictions, and the wait-and-see attitude of certain economic players dependent on public financing mechanisms.

As a result, revenue growth for the full year 2021 could be limited.

Despite this outlook for 2021, the Group intends to pursue the deployment of its business model based on the continuous improvement of its green hydrogen technology, which can only be considered over long cycles. The Group reiterates its confidence in the medium and long-term growth prospects of its markets and remains focused on the industrialization of its production capacities and the acceleration of its technological developments in zero-carbon hydrogen.

Prochaine communication financière

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

This future factory will play a major role in the transition to industrial scale electrolysis, an essential condition for green hydrogen to achieve the decarbonation objectives.

Pascal Mauberger, Chairman of McPhy, states: “We are very pleased to announce the preselection of Belfort, a major French and European industrial metropolis, to start building a Gigafactory for alkaline electrolyzers. This future factory will play a major role in the transition to industrial scale electrolysis, an essential condition for green hydrogen to achieve the decarbonation objectives set by the French government and the European authorities. We would like to thank all the stakeholders and partners who support us in this great ambition, as well as the McPhy teams.”

The Group will transform the lead it holds in pressurized alkaline electrolysis, a mature and proven technology for large-scale hydrogen projects, into a sustainable competitive and industrial advantage.

Laurent Carme, CEO of McPhy, states: “The building of our Gigafactory is particularly strategic for McPhy’s growth. This center of excellence dedicated to industrialization and mass production will give us the means to achieve our technological and industrial ambitions in the electrolyzer segment. The Group will transform the lead it holds in pressurized alkaline electrolysis, a mature and proven technology for large-scale hydrogen projects, into a sustainable competitive and industrial advantage.”

Bruno Le Maire, French Minister of Economy, Finance and Recovery stated: “I am very pleased with this announcement by McPhy, which is one of the first Gigafactories within the framework of the National Hydrogen Strategy and demonstrates this new technology’s capacity to be a driver of growth and industrial development for our territories. The choice of Belfort reinforces the Energy Valley ecosystem and fully illustrates the attractiveness of Northern Franche-Comté region for project developers. It also demonstrates our commitment, alongside the industry, to diversifying the region’s activity and consolidating its position as a European hub for energy transition engineering.”

Agnès Pannier-Runacher, French Minister Delegate of Industry added: “The decision of McPhy’s Board of Directors is further evidence of the emergence of a true French hydrogen industry that masters all the technological building bricks to produce and use low-carbon hydrogen. This approach, which aims to strengthen our energy and economic resilience, mobilizes all our energy engineering know-how. We are going to continue this effort and ensure that the development of low-carbon hydrogen uses and the industrialization of offers progress together.”

The McPhy Gigafactory is a strategic tool to meet the challenges of competitiveness by further strengthening and perpetuating McPhy’s leadership position in the alkaline electrolyzer market and the materialization of economies of scale enabling to drastically reduce the cost of green hydrogen produced by electrolysis compared to carbon-based energy.

This project combines the development of new generation electrolyzers and the industrial deployment of their mass production, and is part of the IPCEI hydrogen. McPhy has submitted an application within the framework of this European funding that aims to support the R&D and industrialization of, in particular, the “electrolysis” technology brick to accelerate the development of the sector and the competitiveness of low-carbon hydrogen.

The preselection of the Belfort site represents a major milestone to meet the anticipated growth of McPhy’s markets. The Belfort site, oriented towards the “high tech” industry, was preselected for its ability to respond to the key issues raised by the industrial scale-up of electrolyzers:

• Prior structuring of an industrial, research and development ecosystem dedicated to innovation and hydrogen, and existence of potential partners within the sector;
• Industrial job pool and attractive environment;
• Geographical location at a European crossroads, facilitating interaction with other McPhy sites, but also facilitating sourcing, supply and delivery activities;
• Support from public stakeholders with economic, technical, functional and administrative measures to facilitate the management and deployment of this project.

The confirmation of the preselection and the final investment decision by McPhy should take place by the end of 2021 after the completion of the preliminary studies, the obtaining of administrative authorizations, and are subject in particular to the obtaining of the necessary financing, including those requested within the framework of the IPCEI process.

The objective is to start production in the first half of 2024 with a gradual ramp-up to a capacity of 1 GW per year.
The construction of this new industrial infrastructure would represent an investment of €30 to €40 million. It would lead to the creation, at full load, of more than 500 McPhy jobs, including around 400 in France and a hundred in Germany and in Italy. In addition, several hundred indirect jobs would be created in France and in Europe.

Thanks to this major investment in its industrial facilities, McPhy would benefit from a total annual production capacity equivalent to 1.3 GW (2), in line with the growth perspectives of the green hydrogen markets, particularly in heavy industry.

While waiting for the start-up of its Gigafactory, McPhy will rely on its current industrial facilities, which are sized for current demand and can be further expanded to meet the strong growth in the portfolio of opportunities, notably with the San Miniato and Wildau sites dedicated to electrolyzers.

Despite a market that remains very buoyant, McPhy notes that firm orders and project executions are slow to materialize, particularly given the global public health context and associated restrictions, and the wait-and-see attitude of certain economic players dependent on public financing mechanisms. As a result, McPhy expects limited revenue growth in the first half of the year. In the medium and long term, McPhy intends to take advantage of its technological lead to benefit from the development potential of zero-carbon hydrogen technology.

Footnotes

(1) The confirmation of the preselection and the final investment decision by McPhy should take place by the end of 2021, after the completion of the preliminary studies, the obtaining of administrative authorizations, and are subject in particular to the obtaining of the necessary financing, including those requested within the framework of the IPCEI process. As a reminder, the IPCEI (“Important Projects of Common European Interest”) is a financing system which allows to support projects considered essential for the competitiveness of Europe, authorizing the Member States to finance initiatives beyond the limits usually fixed by the European regulation. An IPCEI Hydrogen was launched on 17 December 2020.
(2) The Belfort site’s annual production capacity will be 1 GW, in addition to the 300 MW of production capacity at McPhy’s San Miniato site in Italy.

Upcoming of financial communication events

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

This Universal Registration Document includes in particular:

• The annual Financial Report for 2020;
• The management report ;
• The Board of Directors’ report on corporate governance;
• The reports of the Statutory Auditors and their fees.

The presentation of the agenda and resolutions of the Annual General Meeting of 17 June, 2021, will be included in the report of the Board of Directors to the General Meeting which will be available on the company’s website.

The Universal Registration Document is available free to the public at the Company’s registered office, 1115, route de Saint-Thomas, 26190 La Motte-Fanjas, upon request and may also be consulted on the websites of the AMF (www.amf-france.org) or the Company (www.mcphy.com/en).

Upcoming of financial communication events:

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

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

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

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.”

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.

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)

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.

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.

Footnotes

(1) https://www.hannovermesse.de/exhibitor/mcphy-energy-deutschland/N1458787 : You will find information about the McPhy-APEX live stream of Thursday, April 15
(2) https://mcphy.com/en/press-releases/2-mw-of-electrolysis-in-germany/
(3) https://cellar-c2.services.clever-cloud.com/com-mcphy/uploads/2020/12/20.03.10.PR_McPhy_2019-annual-results_ENG.pdf

Next financial communications

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

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.

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.

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.”

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

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.

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.”

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.

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.

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)