McPhy Energy: McPhy completes the disposal of its refueling stations business to Atawey
2024年7月17日 - 2:30PM
RNSを含む英国規制内ニュース (英語)
McPhy Energy: McPhy completes the disposal of its refueling
stations business to Atawey
- Emergence of two pure players, among the European leaders in
their respective segments and key actors in the hydrogen sector in
France;
- Final sale price was set at €12 million, payable in instalments
up to December 31, 2025, increased by a possible earn-out based on
future orders.
Grenoble, July 17, 2024 – 7:30 am CEST –
McPhy Energy, a specialist in low-carbon hydrogen
production and distribution equipment (electrolyzers and refueling
stations), and Atawey, a specialist in hydrogen
distribution equipment, announced the completion of the transaction
on McPhy's refueling stations business. It is reminded that McPhy
and Atawey entered into exclusive negotiations in December
20231, following which McPhy received a binding offer
from Atawey on February 19, 20242 and signed a sale
agreement for this business on April 19, 2024.
Jean-Baptiste Lucas, Chief Executive
Office of McPhy, commented: “We are delighted to sell
our refueling stations business to Atawey and to enable the McPhy's
station teams to continue writing the future of hydrogen mobility.
As pioneers in the French hydrogen industry, McPhy and Atawey share
a common history and common values, and this proximity, further
strengthened by this transaction, is rich with potential of future
collaborations. The divestiture of this activity to one of the
sector's leaders ensures the expansion and value of past
investments. Following the recent inauguration of our Gigafactory,
dedicated to a new generation of electrolyzers, McPhy is then
refocusing its resources to accelerate its development and
contribute to the structuring of the low-carbon hydrogen industry
in Europe.”
"We are thrilled of the acquisition of
McPhy's stations business. This important milestone will enable us
to support our growth and accelerate our international development.
Thanks to our new industrial capacities, the mutual enrichment of
our teams, and our unique expertise of over twenty-five years in
the market, we are in a position to meet all needs and position
ourselves as a key player in Europe's energy transition”,
specified Jean-Michel Amaré, Chairman and co-founder of
Atawey.
In line with their exclusive negotiations
entered into in December 2023, the two players have completed this
transaction with an agreed sale price including:
- A fixed portion of €12 million, payable over 18 months, with an
initial payment of €1 million on completion of the transaction. The
balance of €11 million, with related interest, will be paid as and
when Atawey achieves its financing plan for the combined business,
or, failing that, in Atawey shares.
- An earn-out conditioned to future orders relating to the
business subject matter of the transaction. This earn-out, payable
in cash, is estimated, on the basis of assumptions known to date,
ranging from €5.6 million to €12.5 million (the latter
corresponding to the contractual ceiling amount).
With this transaction, Atawey becomes the
European leader in hydrogen refueling stations3 with the
largest installed stations base, integrates employees already
trained in the hydrogen business, and acquires an industrial tool
with a capacity of over 80 stations per year. These necessary
growth levers will enable Atawey to meet its current order book of
nearly €25 million, its projections for very strong growth over the
next years, and to achieve profitability in the next financial
year. The company integrates McPhy's expertise and technologies.
More than 40 employees from McPhy's teams will join Atawey to
enable it to consolidate its know-how, cross-fertilize the
experience of historical players in the hydrogen sector, and
consolidate its expertise. This transaction comes at the right time
for the Savoy-based company, which has enjoyed strong growth for
several years and is expanding rapidly internationally.
Concerning McPhy, as a reminder, the supply of
stations represented 27% of its sales in 2023, with a portfolio of
projects signed, commissioned and/or in progress to date,
representing a total of around 40 stations. McPhy will also remain
involved in the execution of current projects.
With this transaction, McPhy is refocusing
on its business as manufacturer of electrolyzers in Europe,
while continuing to implement its financing plan. The proceeds
from the disposal, together with the completion in June of a €30
million convertible bond issue and on July 11 of the real estate
sale and lease back for €16 million, will provide the company with
the resources it needs to finalize its industrial scale-up, which
has just reached a key milestone with the inauguration of the
Belfort Gigafactory. Eventually, McPhy will have a
pan-European industrial facility with an annual full production
capacity of 1.3 gigawatt.
Next financial event:
- Publication of 2024 first-half results, on
30 September 2024, after market close
ABOUT MCPHY
Specialized in hydrogen production and
distribution equipment, McPhy is contributing to the global
deployment of low carbon 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).
ABOUT ATAWEY
ATAWEY IN KEY FIGURES: 145 employees 70
installed hydrogen stations Turnover 2023: €8,5m Order-book:
€25m |
To contribute to the Europe's energy transition and the
decarbonization of energy use, Atawey, European leader in hydrogen
refueling stations, collaborates with project developers to
accelerate hydrogen mobility. Thanks to its technological expertise
based on a fleet of 70 installed stations, its industrial know-how
and the commitment of its teams, the company offers customized
solutions through:
- Services and support tailored to customer needs,
- One of the widest ranges of high-performance, modular hydrogen
stations on the European market.
Atawey has two production plants in France, with
a total production capacity of over 80 stations a year. It also has
four test areas, enabling it to bring its stations to market
quickly.
The company is expanding internationally through subsidiaries in
Spain and Benelux.
CONTACTS
McPhy
Investors Relations
NewCap
Emmanuel HUYNH
T. +33 (0)1 44 71 94 99
mcphy@newcap.eu |
Press Relations
DGM Conseil
Pascal POGAM
p.pogam@dgm-conseil.fr / T. +33 (0)6 03 62 27 65
Sophie BODIN
s.boding@dgm-conseil.fr / T. +33 (0)6 08 81 77 57 |
Follow McPhy on
@McPhyEnergy
|
|
Atawey - Agence 914 |
|
Juliette
LANIRAY
T. +33 (0)6 11 76 22 09
juliette@agence914.fr |
Sandra
LONCHAMP
T. +33 (0)6 74 28 21 48
sandra@agence914.fr |
Follow Atawey on
@Atawey
1 "McPhy enters into exclusive
negotiations with Atawey for the sale of its hydrogen refueling
station business", December 14, 2023
2 "McPhy receives a binding offer
from Atawey for the sale of its stations business", February 19,
2024
3 In number of installed refueling
stations
- PR_McPhy_Atawey_Cession de l'activité stations -
17.07.2024_DEF
Mcphy Energy (EU:MCPHY)
過去 株価チャート
から 7 2024 まで 8 2024
Mcphy Energy (EU:MCPHY)
過去 株価チャート
から 8 2023 まで 8 2024