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McPhy Announces Positive Start to the Year with Over €5 Million in Orders Received

By March 5, 2019 4   min read  (679 words)

March 5, 2019 |

McPhy Financials 3
  • A 6-station order for the deployment of hydrogen mobility solutions as part of the EAS-HyMob project in Normandy, increasing the number of McFilling stations installed or in the process of being installed to 21
  • 2 MW in additional electrolysis capacity in Germany for the Energy market, lifting the high-power electrolysis capacity implemented by McPhy to 16 MW
  • The previously announced  (1) largest ever order for McPhy’s PIEL product line, with 11 electrolyzers to be shipped to the Bangladesh Meteorological Department
  • A previously announced electrolyzer (1) for the mobility market, which will be fitted in the 1st hydrogen refueling station in Chambéry for the Zero Emission Valley project.

La Motte-Fanjas — McPhy (Euronext Paris Compartment C: MCPHY, FR0011742329) a specialist in hydrogen production and distribution equipment, is today announcing that it has received firm orders worth over €5 million since the beginning of the year.

Pascal Mauberger, Chairman and Chief Executive Officer of McPhy, commented: “We are delighted with how 2019 has started for us, since we have achieved the positive top-line momentum we predicted. These firm orders are a ringing endorsement of our product strategy in our three key markets.

In the zero emission mobility market, we logged an order for six McFilling 20-350 stations in the framework of the EAS-HyMob project, which shows that our offering is well-suited to France’s strategy for deploying hydrogen refueling infrastructure.

In Germany, we reached a major technological milestone by marketing our first electrolyzer fitted with “high current density” electrodes co-developed with De Nora. The electrolyzer will double the volume of hydrogen produced. These two new megawatts will lift to 16 MW the high-power electrolysis capacity we have implemented. It is crucial for the large-scale decarbonization of applications in the industry, mobility and energy sectors.”

Orders delayed in 2018 have now materialized driving strong business momentum

With over €5 million in orders received, it is a positive start to the year for McPhy:

McPhy has just logged an order for six stations from SIEGE 27 and SDEC Energie (2)  to support the roll-out of hydrogen mobility solutions in the Eure and Calvados departments as part of the EAS-HyMob Normandy project (3). These stations are the first in the plan, which will ultimately feature 15 hydrogen refueling units and are due to be commissioned as captive hydrogen vehicle fleets are introduced.

As previously announced, McPhy has received an order for a next-generation 40kg/day 30-bar electrolyzer, which will be delivered this year. It is intended for a hydrogen station to be built in Chambéry by ATAWEY(4) as part of the Zero Emission Valley project (5) in the Auvergne-Rhône-Alpes region. Under the project, 20 stations are due to be installed across the region, including 15 with electrolyzers (6). It aims to make Auvergne-Rhône-Alpes Europe’s leading region in the deployment of hydrogen.

These new projects increase to 21 the number of McFilling stations installed or currently being installed, together representing a daily potential of 64,500 km in zero emission mobility.

In the energy market, McPhy received the first payment for a Power to Power application in Germany in respect of a McLyzer 400-30 installation. This is the first McLyzer 400-30 featuring McPhy’s high-density current electrodes co-developed with De Nora, its industrial partner. This 2 MW project lifts to 16 MW the high-power electrolysis capacity built by McPhy.

Lastly, McPhy recently received an order from the Bangladesh Meteorological Department for 11 electrolyzers from the PIEL line, which are due to be delivered during 2019. These electrolyzers will be used to inflate balloons for weather probes. This is the largest order ever placed for McPhy’s PIEL line of products.

Together, all these firm orders are worth over €5 million. These commercial successes demonstrate that the delayed orders initially anticipated in 2018 have now materialized, and that the Group’s top-line business momentum is right on track.

[1] 2018 revenue press release dated January 22, 2019

[2] This project is supported by European Union funding via the European Innovation and Networks Executive Agency (INEA) as part of the Connecting Europe Facility – Transports (CEF-T) infrastructure program.

[3] https://eadymob.normandie.fr

[4] http://www.atawey.com

[5]    https://www.auvergnerhonealpes.fr/uploads/Presse/91/203_486_CP-12-20-Zero-Emission-Valley-reconnu-au-niveau-europeen.pdf

[6]    https://www.auvergnerhonealpes.fr/uploads/Presse/91/203_486_CP-12-20-Zero-Emission-Valley-reconnu-au-niveau-europeen.pdf

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