Grenoble, October 18th, 2023 - 6:00 pm CEST - McPhy Energy, specialized in low-carbon hydrogen production and distribution equipment (electrolyzers and refueling stations), today announces the signing of a Memorandum of Understanding (MOU) with Stargate Hydrogen to accelerate cooperation in electrodes for next generation alkaline electrolyzers.
This significant milestone marks a year-long fruitful discussion. The CEO of McPhy, Jean-Baptiste Lucas, and the CEO of Stargate, Marko Virkebau, along with the CTO of Stargate, Rainer Küngas, have signed the MOU on the occasion of the visit to Paris by the Estonian Prime Minister, Kaja Kallas and the Minister of Economy and Information Technology, Tiit Riisalo, as well as a delegation of companies from the energy sector.
At the forefront of innovation, Stargate develops electrodes that are free from precious metals and use ceramic catalyst material for next-generation alkaline electrolyzers. On the other hand, McPhy is making strides in developing large-scale pressurized alkaline electrolyzers for the decarbonation of industry.
The MOU thus outlines the intent of both companies to work together on employing the ceramic technology designed by Stargate in large-scale alkaline electrolysis and also aims to improve the reliability of components of electrolysis systems. This sharing of knowledge and expertise is set to further strengthen the hydrogen value chain and accelerate cooperation between the two companies. It feeds into the scale-up strategy of both McPhy and Stargate, with plans for developing their industrial sites in France and Estonia.
The signing of this MOU illustrates a cross-border collaboration between France and Estonia in the Green Tech and decarbonation spaces, supported by IPCEI on hydrogen, to which both companies belong in the Hy2tech wave.
Jean-Baptiste Lucas, CEO of McPhy, said: "This partnership with Stargate ties in perfectly with our strategy to extend our technological and industrial lead in the rapidly growing hydrogen market. Sharing the same technological and industrial challenges, this cooperation allows us to cross-fertilize our expertise to sustain the development of electrolyzers."
Marko Virkebau, CEO of Stargate, adds: "Our strategy consists of expanding by collaborating. We have already secured partnerships with several system integrations using our technology in their systems. Now, we are taking the next step by also partnering with the leading electrolyzer manufacturers interested in using our unique technology in their products. The partnership with McPhy will surely allow both parties to scale faster and bring down the cost of green hydrogen for large-scale projects."
Next financial event:
- Publication of 2023 Annual Revenue, February 5, 2024, after market close
ABOUT STARGATE HYDROGEN
Stargate Hydrogen, a privately owned company, is developing turnkey solutions for green hydrogen deployment. The central innovation of the company is focused on the development of next-generation alkaline electrolysers that are free from precious metals.
| CONTACT Stargate Hydrogen Solutions OÜ |
Marko Virkebau, CEO
marko@stargatehydrogen.com
ABOUT MCPHY
Specialized in hydrogen production and distribution equipment, McPhy is contributing to the global deployment of low-carbon hydrogen as a solution for energy transition. With its complete range of products dedicated to the industrial, mobility and energy sectors, McPhy offers its customers turnkey solutions adapted to their applications in industrial raw material supply, recharging of fuel cell electric vehicles or storage and recovery of electricity surplus based on renewable sources. As designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production centers in Europe (France, Italy, Germany). Its international subsidiaries provide broad commercial coverage for its innovative hydrogen solutions. McPhy is listed on Euronext Paris (compartment B, ISIN code: FR0011742329, MCPHY).
CONTACTS
| NewCap | |
| Investor Relations Emmanuel Huynh T. +33 (0)1 44 71 94 99 mcphy@newcap.eu | Media Relations Nicolas Merigeau T. +33 (0)1 44 71 94 98 mcphy@newcap.eu |
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