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.
