McPhy Completes Disposal of Refueling Stations Business to Atawey

McPhy Energy has finalized the sale of its hydrogen refueling stations business to Atawey. The agreement solidifies two prominent players in the European hydrogen sector. The transaction, valued at €12 million, will be payable in instalments until the end of 2025, with a potential earn-out based on future orders.

The deal includes an initial payment of €1 million, with the remaining balance contingent on Atawey's financing achievements. Additionally, an earn-out ranging from €5.6 million to €12.5 million could be realized. This acquisition places Atawey as a leader in the European hydrogen refueling market, enhancing their capacity to meet significant growth demands.

McPhy will redirect its focus toward its electrolyzer manufacturing business, reinforcing its commitment to the low-carbon hydrogen industry in Europe. The proceeds from the sale will contribute to McPhy's financial stability and support its strategic shift, exemplified by the recent inauguration of its Gigafactory in Belfort.

Atawey welcomes over 40 employees from McPhy's team, leveraging both companies' expertise. This synergy aims to drive innovation and address the accelerating demand for hydrogen mobility solutions across Europe.