McPhy signs a first order with Hype
McPhy will equip, in Île-de-France region, the Hype’s hydrogen station network with a 2 MW alkaline electrolyzer and an 800 kg / day Dual Pressure station
La Motte-Fanjas, April 25, 2022 – 05:45 pm CEST – McPhy (Euronext Paris Compartment C: MCPHY, FR0011742329), (the “Company”), specialized in zero-carbon hydrogen production and distribution equipment (electrolyzers and refueling stations), announces that it has finalized its strategic partnership agreement with Hype, key player in light and heavy hydrogen mobility, whose principles were described by McPhy in its press release of December 14, 2021 (1).
As part of this agreement, McPhy subscribed on April 22 to €12 million of convertible bonds issued by Hype, with a capitalized interest rate of 4.5% and a maturity of 9 years. These bonds may be converted into Hype shares, before their maturity date, under certain conditions and in limited cases for a period of two years, including a change of control, an IPO or an issuance of securities in excess of €10 million.
In this context, a first order was signed with Hype, for the supply of a 2 MW alkaline electrolyzer and a Dual Pressure station with a capacity of 800 kg per day, which will be installed in the Paris region. Two additional very large-capacity stations are expected to be ordered by June 30, 2022.
Further commercial opportunities are expected to arise from this partnership with the establishment by the end of 2022 of a co-exclusive framework agreement between Hype and McPhy. This agreement covers the deployment by Hype of a minimum of 100 stations in France and Europe, of which 50% would be allocated to McPhy, and 15 to 25 MW of alkaline electrolysis.
Next financial events
- Annual General Meeting, on May 19, 2022
- 2022 First-Half Results, on July 28, 2022 (after market)
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).