McPhy Energy: McPhy enters into exclusive negotiations with Atawey for the sale of its hydrogen refueling station business
14 Décembre 2023 - 6:00PM
McPhy Energy: McPhy enters into exclusive negotiations with Atawey
for the sale of its hydrogen refueling station business
- McPhy has initiated a process for the sale of its hydrogen
refueling station business;
- Atawey, who is interested in acquiring the business, has become
a key player in hydrogen mobility. This acquisition would enable
Atawey to accelerate its development and become a European
leader;
- The contemplated transaction will enable McPhy to focus on its
core business as an electrolyzer manufacturer, especially given the
launch of its Gigafactory in Belfort.
Grenoble, France, December 14, 2023 -
6:00 pm CET - McPhy Energy, specialized in low-carbon
hydrogen production and distribution equipment (electrolyzers and
refueling stations), announces that it has entered into exclusive
negotiations with Atawey for the sale of its refueling station
business. As a reminder, the supply of stations accounted for 32%
of McPhy's revenues in 2022, with a portfolio of projects signed,
commissioned and/or under execution, representing 40 stations.
Successful negotiations shall enable McPhy to
allocate its resources primarily to electrolyzer manufacturing,
while ensuring further expansion of the stations business by
leveraging the capabilities provided by an industry leader. Thanks
to a portfolio of 30 installed stations and 10 years' experience,
Atawey is indeed one of the leading players in the French market.
By bringing together the two station activities, this will
accelerate Atawey’s growth and create a European
leader.
McPhy and Atawey share common history and
values, as key players and pioneers in the French hydrogen mobility
sector. Their geographical proximity, successful collaborations on
several projects and complementary station offerings should ensure
the success of the transaction. The merger would indeed enhance the
value of the investments made for the Grenoble site and enable
Atawey to support the strong growth of its business by acquiring an
additional industrial facility and high-quality technological
expertise, as demonstrated by McPhy's recent commissioning of
several stations. Should the sale process come to an end, McPhy
intends to remain involved alongside Atawey to ensure the
continuity of its station business, in the interests of all
stakeholders.
The repositioning of McPhy’s focus on
electrolyzer manufacturing has been driven by the need for greater
specialization in each of the hydrogen industry’s core business
activities, given the strong growth in the market. The size of
hydrogen projects, particularly for industry, is expanding rapidly,
requiring more resources for the mass production of high capacity
electrolyzers. McPhy will now exclusively devote to this task,
drawing on its pan-European industrial setup, including its
upcoming Gigafactory in Belfort and support functions in Grenoble,
France, its engineering site in Wildau, Germany, and its
manufacturing facility in San Miniato, Italy.
McPhy will continue the ongoing negotiations
with the required confidentiality and will inform the market of its
possible outcome, especially should a binding offer be received.
During this period, particular attention will be given to the
execution of ongoing projects and customer satisfaction. In
addition, an information-consultation process with McPhy’s employee
representatives will be initiated depending on the progress of the
divestiture project. Those representatives have already been
informed at this stage of the ongoing process.
Jean-Baptiste Lucas, Chief Executive
Officer of McPhy, comments: "We have
decided to initiate the process of selling off our station business
in order to concentrate on developing our electrolyzer business. By
combining equipment manufacturing activities for both the
production and distribution of hydrogen, McPhy has benefited from a
significant learning curve, making its transition towards
industrial scale easier. The possibility of associating our teams
with the emergence of a new European leader by selling our station
activities to a recognized player, with whom we share fundamental
values, is undoubtedly a path to pursue. Concurrently, our
Gigafactory dedicated to the new generation of electrolyzers, whose
construction is nearing completion, will require the mobilization
of all our resources to become a major player in the substantial
low-carbon hydrogen market.”
Jean-Michel Amaré, CEO and co-founder of
Atawey, adds: "This is a fantastic
opportunity to confirm Atawey as a European leader in hydrogen
stations. The complementary nature of our activities and the
proximity of our corporate cultures will help us to achieve a
transaction that satisfies all our stakeholders, including first
and foremost our employees. This would undoubtedly be a major step
forward not only for Atawey, but also for the structuring of the
French hydrogen mobility ecosystem."
Next financial event:
- Publication of 2023 Annual Revenue, February 5,
2024, 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).
About ATAWEY
Atawey is France's leading provider of hydrogen
mobility refueling solutions, with 40% market share and thirty
stations installed since its creation.
Founded in 2012 by Jean-Michel Amaré and
Pierre-Jean Bonnefond, Atawey designs, manufactures and distributes
hydrogen refueling stations contributing to the deployment of
hydrogen mobility in France and Europe. Atawey has developed a
complete range of high-performance, modular charging stations
(compact station, upgradeable station, mobile station). These
different solutions are designed to support the ramp-up of hydrogen
use in local areas, and offer solutions tailored to all hydrogen
project developers, from pilot projects to complete network
coverage.
CONTACTS
NewCap |
|
Investor
RelationsEmmanuel Huynh T. +33 (0)1 44 71 94 99
mcphy@newcap.eu |
Press
RelationsNicolas Merigeau T. +33 (0)1 44 71 94 98Gaëlle
FromaigeatT.+33 (0)1 44 71 98 52mcphy@newcap.eu |
Follow us on
@McPhyEnergy
Agence 914 |
|
Juliette Laniray
T. +33 (0)6 11 76 22 09 juliette@agence914.fr Follow us
on @Atawey
|
|
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