Amidst the coronavirus pandemic, McPhy has reported a strong commercial dynamic and increased cash flow as it shares its results for the first half of the year.
The French hydrogen company today reported a revenue increase of 24% compared to the first half of 2019, rising to €5.4m, without jeopardising the medium-term growth outlook.
McPhy also saw a significant increase in cash, from €13m to €24m between 31st December 2019 and 30th June 2020, mainly related to the strengthening of capital.
Commenting on the results, Laurent Carme, CEO of McPhy, said, “The beginning of 2020 was marked by a succession of commercial successes, demonstrating the industrialization of the hydrogen sector, both in France and abroad.”
“McPhy, which was selected to equip projects such as Zero Emission Valley in the sector of mobility in France or Djewels in the sector of industry in the Netherlands, has consolidated its position as a major technological and industrial partner in the hydrogen market.”
“Whatever the sector of activity, the McPhy teams have been able to support our clients in their transition to zero-carbon hydrogen, despite the impact of the Covid-19 pandemic.”
2020 has already provided some great successes for the company, highlights for the first half of the year for the hydrogen specialist include equipping an Apex Energy green hydrogen production plant, equipping multiple hydrogen stations, and joining the Zero Emission Valley project.