New milestones have been reached in McPhy’s development, the French company revealed as it announced its 2018 half-year results.
The dedicated hydrogen (H2) solutions provider’s revenue settled at €3.5m ($4m), compared with €5.5m ($6.4m) in the first six months of 2017. The figure for the first half of 2017 included €2.8m ($3.3m) in revenue under the HEBEI contract.
Despite delays to competitive tenders temporarily affecting revenue growth and operating income, McPhy maintains its business momentum, especially in very large-scale electrolysis platform projects (from 10 to 100 MW) for industry, which the impact should be substantial on revenue.
During the first half of the year, McPhy logged an order in the clean mobility market for a second H2 station with an electrolyser from CNR and ENGIE GNVERT in Lyon. It also inked a deal for its first H2 station for buses in the Hauts de France region, lifting to 11 the number of McPhy H2 stations in France, and to 30,500km in clean mobility the daily potential of all its stations.
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