John Cockerill Hydrogen has acquired part of the assets of French energy company McPhy to accelerate the development of its new generation of pressurized alkaline electrolyzers. The acquisition includes the Belfort site, its technologies, and intellectual property, as well as 51 jobs in France. The Belfort Commercial Court approved the acquisition on July 8, 2025, securing the continued operation of the Belfort Gigafactory and safeguarding approximately 50 highly skilled jobs in France.

Acquisition Details

The acquisition is expected to strengthen John Cockerill's industrial footprint in France, particularly in hydrogen activities in Aspach and Belfort. Nicolas de Coignac, CEO of John Cockerill Hydrogen, stated that the acquisition preserves a strategic industrial asset and lays the groundwork for the next generation of electrolysers. By combining John Cockerill's electrolysis cells with select innovative components from McPhy, the goal is to achieve a 10-15% competitive advantage over current models.

Industry Impact

Electrolysis is a key technology for decarbonizing heavy industry, making this a long-term endeavor. The acquisition of key McPhy assets marks a significant milestone in advancing this strategy. Cédric Perrin, Senator for the Belfort region, commented that the acquisition is excellent news for the region's efforts to diversify into hydrogen. Damien Meslot, Mayor of Belfort, stated that the announcement enables the Foussemagne gigafactory to continue manufacturing electrolysers, contributing to the sovereignty of the French green hydrogen sector.

Future Developments

In other news, John Cockerill and Vietnam's conglomerate Viettel Group signed a memorandum of understanding (MOU) to explore long-term cooperation to develop a Vietnam-based manufacturing and supply chain for pressurized alkaline water electrolyzers for green hydrogen production. This development aims to contribute to Vietnam's energy transition objectives. With the acquisition of McPhy's assets, John Cockerill is poised to advance its position in the hydrogen industry, and the company's future developments will be worth watching. The acquisition marks a significant step forward for John Cockerill, and the company is expected to continue playing a major role in the development of alkaline electrolyzers.

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