(AOF) – McPhy Energy, specialist in low-carbon hydrogen production and distribution equipment, announces the lifting of the suspension of the CEOG project which was formally notified by Siemens Energy. As a reminder, the CEOG project provides for the production of hydrogen thanks to a high-power electrolyser, Augmented McLyzer 16 MW, supplied by McPhy, linked to a photovoltaic solar park, coupled with a hydrogen storage unit and high-power fuel cells to reduce the carbon footprint linked to supply in electricity for 10,000 homes in Guyana.
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Key points
– Specialist in production and distribution equipment for zero-carbon hydrogen, created in 2008;
– Turnover of €13.1 million achieved 45% in McFilling hydrogen stations, 39% in McLyser high-capacity electrolysers and 16% in Piel catalysts;
– Business model aiming for a minimum rank of 5
th
European manufacturer of the production and distribution of green hydrogen equipment by supporting industry, mobility and energy customers in their decarbonization trajectories;
– Capital held 14.8% by EDF and 6% by BPI France -historic shareholders-, 4.6% by Chart Industry and 2.3% by Technip Energies -strategic shareholders-, Luc Poyer chairing the board of directors 10 members, Jean-Baptiste Lucas being general director;
– Solid financial position with shareholders’ equity of €205 million and, at the end of June, a net cash position of €142 million.
Challenges
– “Driving CleanEnergy Forward” business project to accelerate the deployment of zero-carbon energy ecosystems and high-capacity equipment;
– Innovation strategy financed by a reinforced effort in R&D: new generations of electrolysers and stations for large-scale projects (100+MW electrolysers, stations with 2+ tonnes per day of distribution capacity) / improvement of the electricity consumption of electrolyzers / optimization of gas storage management;
– Environmental strategy integrated into the activity, with 100% of the electricity supply coming from renewable energies, 2025 roadmap currently being structured;
– Completion of the German Djewels project, the largest European zero-carbon hydrogen site;
– Agreement from the European Union to the Gigafactory electrolyser production site in Belfort, the final investment decision of which will be taken in the fall;
– Impact of the increase in the order book of €29.1 million at the end of June, heavy industrial investments in Miniato and Grenoble, and recruitment (doubling of the workforce between 2020 and 2022).
Challenges
– Ability to halve the price of green hydrogen by the end of the decade;
– Waiting for new commercial opportunities from numerous industrial partnerships – Chart Industries EDF, Enel, Hype, Plastic Omnium, Technip Energies, TSG;
– Renewed investor confidence after 6 loss-making financial years, including 2021 marked by the postponement of major projects and an industrial accident;
– After stable revenues and a doubling of the net loss on 1
er
half-year, lowering the 2022 target to moderate revenue growth.
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