John Cockerill Hydrogen Acquires Key McPhy Assets, Securing Belfort Gigafactory and Advancing Next-Gen Electrolyser Development
Key Insights
John Cockerill Hydrogen has secured approval to acquire key assets from the bankrupt McPhy, including its Belfort Gigafactory and intellectual property.
This acquisition preserves approximately 50 skilled jobs in France and ensures the continuity of a strategic technology sector vital for the energy transition.
The integration aims to accelerate the development of next-generation electrolysers, targeting a 10-15% competitive advantage over current models.
The move reinforces France's industrial sovereignty in green hydrogen and expands John Cockerill's European manufacturing and R&D footprint.
John Cockerill Hydrogen has received official approval to acquire a strategic portion of McPhy’s assets, a move set to ensure the continued operation of the Belfort Gigafactory. This acquisition safeguards approximately 50 skilled jobs in France and is critical for advancing the development of next-generation electrolysers, thereby securing a vital technological sector for Europe’s energy transition.
McPhy had initiated bankruptcy protection proceedings in June, prompting John Cockerill Hydrogen to submit a bid for its key assets. The successful bid encompasses the Belfort production site, core technologies, intellectual property, and the retention of 51 positions in France. The integration of McPhy’s specialized expertise into John Cockerill Hydrogen is poised to accelerate the innovation cycle for future electrolyser generations, as the electrolysis industry transitions into a more mature phase.
Nicolas de Coignac, CEO of John Cockerill Hydrogen, emphasized the strategic importance of the acquisition, stating, “This targeted acquisition preserves a strategic industrial asset and lays the groundwork for the next generation of electrolysers. By combining John Cockerill’s electrolysis cells with select innovative components from McPhy, the goal is to achieve a 10–15 per cent competitive advantage over current models.” He further highlighted that electrolysis is a foundational technology for industrial decarbonization, necessitating stable, sustained, and independent industrial capacity. “The acquisition of key McPhy assets marks a significant milestone in advancing this strategy,” de Coignac added.
Local political figures also lauded the development. Cédric Perrin, Senator for the Belfort region and Chairman of the Senate Committee on Foreign Affairs, Defence, and Armed Forces, remarked, “The groundwork laid over the past few months by John Cockerill’s CEO and his teams has made it possible to save a strategic industrial asset that is particularly important to the Belfort region’s efforts to diversify into hydrogen.” Damien Meslot, Mayor of Belfort and President of Greater Belfort, echoed this sentiment, calling the announcement “excellent news for employees, for the hydrogen sector, and for the investments made in Greater Belfort.” Meslot noted that the Foussemagne gigafactory will continue manufacturing electrolysers under Franco-Belgian ownership, contributing to France’s green hydrogen sovereignty and establishing Belfort as a center of excellence in the field.
This new facility in France significantly enhances John Cockerill Group’s industrial footprint, particularly in hydrogen activities across Aspach and Belfort. Concurrently, Belgium retains its central role in the Group’s assembly and R&D operations located in Seraing, reinforcing a robust Franco-Belgian collaboration in the burgeoning hydrogen economy.