McPhy expects limited revenue growth for 2021

French hydrogen firm McPhy Energy SA (EPA:MCPHY) this week said it expects limited revenue growth for the full current year.

The company, which specialises in alkaline electrolysers and hydrogen stations, anticipates revenue of above EUR 5 million (USD 6m) for the first half of 2021, compared to EUR 5.4 million in the equivalent period of 2020.

McPhy reiterated, as communicated in May, that it sees delays in the execution of its projects and that firm orders are slow to materialise due to the pandemic and related restrictions, and “the wait-and-see attitude of certain economic players dependent on public financing mechanisms.”

The company remains confident in the medium and long-term growth prospects of its markets.

McPhy on Thursday also announced that Luc Poyer has been appointed chairman of its board of directors, succeeding Pascal Mauberger.

Mauberger, who founded the company in 2008 with a team from the CNRS scientific research centre, will remain as a director and become honorary chairman. He passed on the chief executive role in 2019 to Laurent Carme.

“As Honorary Chairman, I will continue to support the Board of Directors under the leadership of Luc Poyer, and I am convinced of our ability to make McPhy the benchmark player in carbon-free hydrogen,” said Mauberger.

McPhy in May pre-selected Belfort, a commune in northeastern France, as the potential site for its electrolyser gigafactory.

(EUR 1.0 = USD 1.195)

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