France: Court Approves Sale of McPhy to John Cockerill Hydrogen

The Belfort commercial court has approved the sale of McPhy to John Cockerill Hydrogen, a €600,000 transaction involving majority retention of staff and an industrial project partially funded by European subsidies.

Share:

The Belfort commercial court has finalized the sale of the French company McPhy Energy to the Belgian group John Cockerill Hydrogen. This transaction, officially confirmed by a judicial decision made public this Tuesday, amounts precisely to €600,000. McPhy Energy, specializing in the design and manufacture of electrolyzers for producing green hydrogen, currently employs 71 staff members at its sites in Belfort and Grenoble. John Cockerill Hydrogen has committed to retaining 51 employees, representing more than 70% of the workforce.

Joint industrial project

As part of this acquisition, John Cockerill Hydrogen plans to launch a new industrial product called the “stack MoJo.” This new electrolyzer will directly result from combining the technical expertise of both companies, each having developed distinct electrolysis technologies. The stack MoJo assembly will primarily take place at McPhy’s industrial site, a 22,000-square-meter “gigafactory” located in Foussemagne, at the Aéroparc de Fontaine, inaugurated in 2024.

John Cockerill Hydrogen intends to operate this factory in coordination with its existing industrial site in Aspach, located in Haut-Rhin. The associated industrial project represents an investment estimated at approximately €65 million, with a significant portion covered by European subsidies already allocated to McPhy through the Important Project of Common European Interest (IPCEI or PIIEC in French). McPhy initially received a total allocation of €114 million, of which €29 million had already been disbursed before the acquisition. According to confirmed arrangements, John Cockerill is expected to receive nearly €50 million of the remaining funds.

Reactions from local officials

Several political representatives publicly welcomed the court’s decision, highlighting the immediate local economic impact. Damien Meslot, president of the Grand Belfort Agglomeration Community (GBCA) from Les Républicains (LR), emphasized the reassuring nature of the acquisition due to John Cockerill Hydrogen’s financial guarantees. Christophe Grudler, a European Parliament member affiliated with MoDem, highlighted the Belgian group’s industrial experience, believing it will facilitate rapid recovery of activities at the site.

John Cockerill operates globally across various industrial sectors including defense, energy, and steel, employing approximately 8,000 people worldwide, with about 1,800 based in France. The integration of McPhy Energy clearly aligns with its strategy to expand its hydrogen-related activities.

Air Liquide begins construction of the ELYgator electrolyser in Rotterdam, a 200 MW project, supported by the Dutch government and an investment exceeding €500 mn.
A pilot project in Germany aims to produce green hydrogen at sea directly from untreated seawater on offshore wind farms, using marine bacteria and robust materials.
BP withdraws from the Australian Renewable Energy Hub, a major renewable hydrogen and ammonia project in the Pilbara region, marking a new stage for energy investments in Australia.
Next Hydrogen raises CAD1.5mn from its management and a commercial lender to strengthen its cash flow and retain teams, while maintaining its review of financial and strategic solutions.
The first European citizen funding campaign dedicated to green hydrogen enabled Lhyfe to collect €2.5mn from nearly 1,200 investors, strengthening the development of new sites in France and Germany.
In the face of renewable energy intermittency, Power-to-Hydrogen-to-Power (PtP) technology could revolutionize energy storage. However, its adoption still depends on cost reduction and efficiency improvements.
South Korean company YPP and Kazakh Invest have signed a framework agreement for the development of a green hydrogen production project in Kazakhstan, with investments potentially reaching $3.1 billion.
The Dutch government has granted major funding to HyCC for its H2eron electrolysis project, aimed at producing renewable hydrogen in the Delfzijl industrial zone.
ACWA Power has signed several agreements with European partners to develop a green energy export chain between Saudi Arabia and Europe, as part of the India-Middle East-Europe Economic Corridor project.
Manufacturer Stellantis halts production of its hydrogen-powered commercial vehicles, citing a lack of commercial prospects and an insufficient market, according to a statement released by the automotive group.
Malaysia reaches a decisive milestone in its energy roadmap with the launch of a hybrid floating hydro-solar project and the first large-scale green hydrogen hub in the state of Terengganu.
Hynamics UK and Hy24 have signed an exclusive agreement to develop the Fawley Green Hydrogen project, backed by the UK HAR2 scheme, to supply green hydrogen to ExxonMobil's petrochemical complex.
China has approved the construction of a strategic pipeline to transport green hydrogen from Inner Mongolia to Beijing, facilitating supply to industrial zones around the capital and boosting a rapidly expanding energy economy.
The European Commission introduces a greenhouse gas emissions methodology for low-carbon hydrogen, establishing a long-awaited regulatory framework for the sector and paving the way for new industrial investments.
French company Lhyfe has carried out its first successful green hydrogen combustion tests in Spain, delivering three tonnes over three weeks to the Valencian ceramic industry, opening a new potential alternative to industrial fossil natural gas.
Envision announces the official commissioning of the world's largest green hydrogen and ammonia plant in China, powered by an autonomous renewable energy system and entirely AI-driven, with exports planned from late 2025.
Sumitomo Corporation announces a strategic investment in Independence Hydrogen aimed at developing new decentralized hydrogen production and distribution projects in the United States, targeting industrial, logistics and critical infrastructure sectors.
80 Mile announces that it has increased its stake in Hydrogen Valley to 49% and signed a memorandum of understanding with Tecnoparco for the supply of 40,000 tonnes of biofuel per year, aiming to reduce palm oil dependency.
The Hive Coega project, South Africa’s most ambitious green ammonia initiative, enters its operational phase with the release of tenders for essential infrastructure, marking a major step forward for the country in renewable energy production.
The City of Fresno becomes the latest member of First Public Hydrogen, the first US public authority dedicated to hydrogen development, thus strengthening its energy infrastructure and municipal bus fleet.