McPhy Energy announced that its McPhy Gigafactory project will benefit from public aid from the French State under Hy2Tech.
The company said that the French government is accelerating its plan to make France the leader in carbon-free hydrogen by 2030.
The industrial-scale production of new generation alkaline electrolyzers is essential to achieve this goal.
The McPhy Gigafactory project will benefit from public aid from the French State for a maximum amount of €114 million, which is part of the IPCEI “Hy2Tech” approved by the European Commission on July 15, 2022.
With this project, McPhy is targeting 3 objectives:
- Innovation, through the development of new generation alkaline electrolysers, in terms of size, components and integration within platforms;
- Industrialization of large-scale production to meet the needs of the European market, in particular, to contribute to the decarbonization of industry, mobility and energy;
- Collaboration with numerous partners of the hydrogen ecosystem in Europe and dissemination of knowledge with academic, industrial and research stakeholders.
The final investment decision for this Gigafactory project will be taken by McPhy shortly, after contracting the terms of the public aid with Bpifrance.