Atawey recently finalized the acquisition of McPhy’s charging station business for a fixed sum of 12 million euros. This transaction, which will begin in December 2023, significantly strengthens Atawey’s position in the European hydrogen market. With this acquisition, Atawey now has 70 hydrogen recharging stations, making it the European leader in terms of the number of stations installed, particularly in Germany. Furthermore, while the European Union is betting heavily on hydrogen, the EU’s Court of Auditors recently announced that the stated ambitions were hard to achieve.
Building Skills and Resources
By integrating McPhy’s expertise and technologies, Atawey is consolidating its know-how with one of the most highly qualified R&D teams in the sector. From July 17, more than 40 McPhy employees will join Atawey’s 105-strong workforce, bringing the total to 145. This merger will enable us to pool skills and consolidate expertise, with each team benefiting from over ten years’ experience and numerous patents.
This acquisition represents a major growth lever for Atawey, which will benefit from a high-performance industrial facility comprising a new production area of over 2,400 m² and four test areas. This strengthened infrastructure will enable Atawey to respond rapidly to its current order book of almost 25 million euros, while achieving profitability as early as next year.
Production Capacity and Growth
With this acquisition, Atawey will increase its production capacity to over 80 charging stations per year. According to Pierre-Jean Bonnefond, CEO and co-founder of Atawey, this transaction represents a major opportunity for the company’s industrial and technological growth. The synergy of know-how will enable us to adopt the best practices of both companies, positioning Atawey among the industry leaders in France and Europe.
The acquisition also enables Atawey to expand its range of charging stations and associated services to better meet market demand, including internationally. McPhy’s experience in European markets will be an asset for Atawey, which has already signed its first contract in Italy with Techfem and plans to open its third international subsidiary by the end of 2024.
Jean-Michel Amaré, Chairman and co-founder of Atawey, is delighted with this acquisition, which marks the start of a phase of European expansion and mutual enrichment of know-how. This operation will enable Atawey to continue improving its solutions for decarbonizing mobility, in response to global economic, technological and environmental challenges.
Atawey and McPhy will work closely together to ensure the continuity of current projects and guarantee the performance of stations already installed. McPhy will remain committed to Atawey for the optimal realization of future projects.
