EDF investing €16M in hydrogen specialist McPhy
Energy giant Electricité de France (EDF) becomes the largest shareholder of McPhy as the French invest 16 million euros into the hydrogen specialist. McPhy wants to use the money to expand globally with its hydrogen solutions.
The partnerhsip agreement of EDF and McPhy, a specialist in hydrogen production, storage and equipment, aims to develop carbon-free hydrogen in France and around the world.
EDF is investing around 16 million euros to acquire 21.7% of McPhy’s share capital, and 20.4% of its voting rights.
The decision to join McPhy puts EDF at the forefront of France’s new hydrogen strategy. The Plan Hydrogène includes a budget of 100 million euros to be allocated through the French government from 2019.
In France, McPhy is actively involved in rolling out hydrogen-based solutions. Out of the 20 or so hydrogen stations in the country, it has supplied 13. With the new funding from EDF, the hydrogen specialist gears up for international expansion. For EDF, the new partnership means they will be able to offer its customers new services and products.
McPhy offers a full range of hydrogen solutions including electrolyzers, hydrogen refueling stations and storage facilities. The firm covers the entire value chain from R&D through to engineering, manufacturing, production, operations and maintenance. Also EDF has been active in hydrogen for more than 15 years, including electrolyzers and vehicle refueling stations, at its EIFER research center in Karlsruhe.
EDF has recently joined the EV100 campaign and pledged to convert its entire global fleet to electric vehicles comes 2030.
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