Atawey and McPhy have accomplished the 12-million-euro transaction.
Atawey and McPhy Power introduced that the 2 corporations have accomplished a enterprise deal that may see Atawey buying McPhy’s hydrogen refueling community. The €12 million ($13 million) transaction contains Atawey receiving a community of 70 places and a 2,400m2 manufacturing space able to supporting as many as 80 stations every year.
Negotiations started in December 2023.
The unique negotiations for the sale of McPhy’s hydrogen refueling station enterprise to Atawey first began back in December. On the time, McPhy had initiated a course of for the sale of this enterprise and Atawey, which has turn out to be a key participant in hydrogen mobility, revealed it was fascinated by making the acquisition. Buying McPhy’s hydrogen refueling community would speed up Atawey’s improvement and make it a European chief in its area.
As for McPhy, which makes a speciality of low-carbon hydrogen manufacturing and distribution gear, the transaction of its hydrogen station enterprise would permit the corporate to deal with its core enterprise, manufacturing electrolyzers.
With the completion of the acquisition, over 40 staff will be part of the Atawey staff, increasing its employees to 145 staff.
The hydrogen refueling network accelerates Ataweys growth as European leader.
Prior to the completion of the acquisition, Atawey was well on its way of proving itself to be a major player in Europe, particularly in the French market. At that time, its portfolio included 30 installed hydrogen stations and over a decade in experience.
The hydrogen refueling network acquisition brings together the two station activities, accelerating Atawey’s growth and solidifying the company as a European leader.
Atawey’s different types of hydrogen stations – Image Source: Atawey YouTube
“This important milestone will enable us to support our growth and accelerate our international development,” said Chairman and co-founder of Atawey, Jean-Michel Amaré. Atawey’s “unique expertise” and more than 25 years in the market, along with the “mutual enrichment” of both companies’ teams, puts Atawey in a position to “meet all needs” and makes them a significant player in Europe’s energy transitionI will love added.
The sharing of common histories and values makes for an ideal match.
The enterprise deal between McPhy and Atawey makes lots of sense. Each corporations share widespread values and histories and are pioneers and key gamers in France’s hydrogen mobility sector.
What’s extra, the acquisition is likely to be successful due to the companies’ geographical proximity, complementary station offerings, and having successfully worked together on several projects in the past.
It’s expected that acquiring the hydrogen refueling network and 2,400m2 production facility will make it possible for Atawey to fulfill its order backlog and meet future growth targets.
