McPhy Energy: McPhy receives a binding offer from Atawey for the sale of its station business
February 19 2024 - 1:30AM
McPhy Energy: McPhy receives a binding offer from Atawey for the
sale of its station business
- The fixed part of the proposed price for the sale would be
between €11 million and €12 million
- The transaction should enable McPhy to focus on its core
business as an electrolyzer manufacturer
Grenoble, February 19, 2024 – 7:30 am
CET - McPhy Energy, specialized in low-carbon hydrogen
production and distribution equipment (electrolyzers and refueling
stations), today announces that it has received a binding offer
from Atawey for the sale of its refueling station business.
This offer follows the entry into exclusive
negotiations between the two parties, announced in December 20231.
The fixed part of the proposed price for the sale would be between
11 and 12 million euros, plus a variable part that could amount up
to several million euros. This earn-out would be implemented from
the date of completion of the transaction and would be conditional
on the future order intakes relating to the scope of business
covered by the contemplated transaction.
The transaction is expected to be finalized
during the 2nd quarter of 2024, subject to consultation with
McPhy's employee representatives, a process which has now begun,
completion of financing for the transaction, and fulfillment of
usual prerequisites. McPhy will continue to pay a particular
attention to the proper execution of ongoing projects, until their
finalization.
For reference, the supply of stations accounted
for 27% of McPhy's revenue in 2023, with a current portfolio of
projects signed, commissioned and/or under execution by McPhy,
representing a total of around 40 stations. The contemplated
transaction should enable McPhy to focus on its core business as an
electrolyzer manufacturer, concurrently with the start-up of its
Gigafactory in Belfort, while ensuring that the stations business
will continue its expansion by leveraging the capabilities provided
by an industry leader.
Next financial event:
- Publication of 2023 full-year results:
March 7, 2024, after market close
ABOUT MCPHY
Specialized in hydrogen production and
distribution equipment, McPhy is contributing to the global
deployment of lowcarbon 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 C, ISIN code: FR0011742329, MCPHY).
CONTACTS
NewCap |
|
Investors RelationsEmmanuel
HuynhT. +33 (0)1 44 71 94 99mcphy@newcap.eu |
Press RelationsNicolas
MerigeauT. +33 (0)1 44 71 94 98Gaëlle FromaigeatT.+33 (0)1 44 71 98
52mcphy@newcap.eu |
Follow us on @McPhyEnergy
1 “McPhy enters into exclusive negotiations with
Atawey for the sale of its hydrogen refueling station business”,
December 14, 2023.
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