McPhy preselects Belfort for the installation of its electrolyzer
Gigafactory
- A major achievement in the industrialization and realization of
economies of scale for the constitution of a competitive offer of
green hydrogen produced by alkaline electrolysis, whose
implementation is notably subject to funding within the framework
of the IPCEI process by the end of 20211
- A gigawatt-scale electrolyzer production site, in line with
market growth in Europe
- Belfort preselected as a strategic site, located in the heart
of the European hydrogen ecosystem and of the Energy Valley
- The creation, at full load, of more than 500 McPhy jobs
(including around 400 in France and a hundred in Germany and in
Italy), and of several hundred indirect jobs in France and
Europe
- A market that remains very buoyant, but sales slower to
materialize in the 1st half
La Motte-Fanjas, May 20, 2021 – 07:30 am
CEST – McPhy (Euronext Paris Compartiment C: MCPHY,
FR0011742329), specialized in zero-carbon hydrogen
production and distribution equipment (electrolyzers and refueling
stations), today announces having preselected the Belfort site to
build its electrolyzer Gigafactory and issues an update regarding
its 1st half sales.
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.”
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.”
McPhy Gigafactory: a strategic tool for
the industrial deployment of the mass production of new generation
electrolyzers
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 Belfort site: an optimal answer to a
demanding set of specifications
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 GW2, 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.
A market that remains very buoyant, but
sales slower to materialize in the 1st half
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.
Upcoming of financial communication events
- Annual General Meeting, June 17,
2021
- Publication of half-yearly results on
July 27, 2021, after market closing
About McPhy
Specialized in hydrogen production and
distribution equipment, McPhy is contributing to the global
deployment of zero carbonhydrogen 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 C, ISIN code: FR0011742329, MCPHY).
CONTACTS
NewCap |
|
Investor RelationsEmmanuel
HuynhT. +33 (0)1 44 71 94 99mcphy@newcap.eu |
Presse Relations Nicolas
MerigeauT. +33 (0)1 44 71 94 98mcphy@newcap.eu |
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.
- 21.05.20.PR_McPhy_Gigafactory_vdef
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