French Government finance €114m for McPhy Gigafactory project

The French Government has revealed that it will provide a sizeable €114m in funding to low-carbon hydrogen energy pioneers, McPhy Energy. The investment will enable McPhy to ramp up the development of its Gigafactory project.

McPhy Energy is an industry leader in low-carbon hydrogen production and distribution equipment, such as electrolysers and refuelling stations. The substantial investment from the French Government is part of the nation’s strategy to accelerate it toward becoming a leader in carbon-free hydrogen by 2030. The development of the new Gigafactory will facilitate the industrial-scale production of next-generation alkaline electrolysers, which will be vital to achieving this goal.

The McPhy Gigafactory project

The €114m funding for the McPhy Gigafactory is part of the PIIEC ‘Hy2Tech’ approved by the European Commission. The Belfort site has been selected by McPhy to build the Gigafactory.

The project is targeting three objectives, which include:

  • Innovation, through the development of new generation alkaline electrolysers, in terms of size, components and integration within platforms;
  • The industrialisation of large-scale production to meet the needs of the European market, in particular, to contribute to the decarbonisation of industry, mobility and energy; and
  • Collaboration with numerous partners of the hydrogen ecosystem in Europe and dissemination of knowledge with academic, industrial and research stakeholders.

The Gigafactory project’s final investment decision will be completed by McPhy imminently, following the contracting of terms of the public aid with Bpifrance.

About McPhy

McPhy is advancing the global deployment of low-carbon hydrogen to speed up the green energy transition with its extensive range of products dedicated to the industrial, mobility, and energy sectors.

McPhy offers turnkey solutions adapted to applications in industrial raw material supply, recharging of fuel cell electric vehicles or storage and recovery of electricity surplus based on renewable sources.

Since 2008, McPhy has designed, manufactured, and integrated hydrogen equipment and owns three development, engineering, and production centres in Europe, located in France, Germany, and Italy.

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