Chart Industries, a leading independent global manufacturer of liquefaction and cryogenic equipment servicing multiple applications in the energy and industrial gas markets, including hydrogen, made a €30-million Strategic Cornerstone Investment in McPhy, a leading manufacturer and supplier of carbon-free hydrogen production and distribution equipment. Chart will hold around 4.3% of the capital of McPhy post-offering.

In conjunction with the strategic investment, Chart and McPhy also executed a commercial Memorandum of Understanding (MOU). The MoU between McPhy and Chart is intended to set the pace of commercial collaboration to stimulate new hydrogen demand for the parties’ respective equipment and solutions globally, by identifying new customers and projects.

Chart and McPhy will also work on studying options to scale up projects for production, storage, transport and fueling in all addressable markets.

Chart was joined by TechnipFMC, which made a €15-million Strategic Cornerstone Investment and signed a Memorandum of Understanding (MoU) with McPhy, pursuant to which the two companies will jointly work on technology development and project implementation.

TechnipFMC’s Technip Energies segment is a leading global engineering and construction services provider for the global energy industry and is a market leader in hydrogen, having provided proprietary steam reforming technology for more than 270 hydrogen production plants worldwide.

The MoU establishes a collaboration framework for the manufacturing and commercialization of (i) hydrogen electrolysis production systems for large industry, renewable energy storage and large mobility projects and (ii) hydrogen distribution systems for large mobility projects.

Through their MoU, Technip Energies and McPhy will jointly address commercial opportunities, work on integrating their respective offerings and work on research and development for hydrogen technology.

The collaboration with McPhy is an important milestone for the future of the green hydrogen industry and demonstrates our ambition to accelerate the journey to a low-carbon society. We will work with McPhy to develop large-scale and competitive carbon-free hydrogen solutions from production to liquefaction, storage and distribution which we firmly believe is core to achieving net-zero targets.

We are excited to be also joined by Chart Industries, whose expertise lies in equipment development and is complementary to our process technology and project capabilities. We are proud to keep the same pioneering spirit and our commitment to technology and outstanding project execution to serve the energy transition.

—Arnaud Pieton, President of Technip Energies

The investments are part of a €150-million capital raise by McPhy.