McPhy Energy: Delay of the CEOG Project and Postponement of the Supply of the Electrolyzer
28 Aprile 2023 - 5:51PM
McPhy Energy: Delay of the CEOG Project and Postponement of the
Supply of the Electrolyzer
- McPhy announces that it has received a notice of a suspension
of the contract with Siemens Energy for the CEOG project
- This order includes the delivery of a high power electrolyzer,
16 MW Augmented McLyzer
- The Company remains a stakeholder in this project, pending
further information on the continuation of operations
Grenoble, France, April 28, 2023 - 05:45
p.m. CEST - McPhy Energy, specialized in low-carbon
hydrogen production and distribution equipment (electrolyzers and
refueling stations), announces that it has been formally notified
by Siemens Energy of the exercise of a contractual clause allowing
the suspension of the execution of its order for the 16 MW
electrolyzer under construction as part of the “CEOG” project
(Western Guiana Power Plant). This suspension is beyond McPhy's
control and is not linked to the execution of the contract by
McPhy.
The completion of the project to date has
already provided an important learning curve for the scaling up of
McPhy's tool and industrial experience. The Company is ready to
take over the execution of the project as soon as its client,
Siemens Energy, expresses its intention.
As a reminder, the CEOG project includes the
production of hydrogen thanks to a high power electrolyzer,
Augmented McLyzer 16 MW, supplied by McPhy, linked to a solar
photovoltaic park, coupled with a hydrogen storage unit and
high-power fuel cells to reduce the carbon footprint related to the
supply of electricity to 10,000 households in French Guiana.
Pending further information from Siemens Energy
on the follow-up of this project, McPhy has to assume at this stage
a negative impact on its first half revenue of €2 million. In this
context, McPhy estimates that its revenue for the first half of the
year will be between €6 and €8 million. McPhy specifies that it has
recorded approximately 60% of the CEOG project revenue as of
December 31, 2022, which is not affected by the suspension.
Upcoming financial events:
- Annual General Meeting: May 24, 2023
- 2023 Half-Year Results: 27 July 2023, after
market close
ABOUT MCPHY
Specialized in hydrogen production and
distribution equipment, McPhy is contributing to the global
deployment of low-carbon hydrogen as a solution for energy
transition. With its complete range of products dedicated to the
industrial, mobility and energy sectors, McPhy offers its customers
turnkey solutions adapted to their applications in industrial raw
material supply, recharging of fuel cell electric vehicles or
storage and recovery of electricity surplus based on renewable
sources. As designer, manufacturer and integrator of hydrogen
equipment since 2008, McPhy has three development, engineering and
production centers in Europe (France, Italy, Germany). Its
international subsidiaries provide broad commercial coverage for
its innovative hydrogen solutions. McPhy is listed on Euronext
Paris (compartment B, ISIN code: FR0011742329, MCPHY).
CONTACTS MCPHY
NewCap |
|
Investor RelationsEmmanuel
HuynhT. +33 (0)1 44 71 94 99mcphy@newcap.eu |
Press relationsNicolas
MerigeauT. +33 (0)1 44 71 94 98mcphy@newcap.eu
|
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