As part of a new strategic partnership, Chart Industries has invested €30m in French hydrogen production company McPhy.

In addition to its investment, the US-based liquefaction and cryogenic equipment company also signed a commercial Memorandum of Understanding (MoU) with McPhy.

Through the MoU, the companies hope to stimulate new hydrogen demand for the parties’ respective equipment and solutions globally, by identifying new customers and projects.

Chart and McPhy will also work on studying options to scale up projects for production, storage, transport and fuelling in all addressable markets.

Jill Evanko, Chart’s CEO, said, “We are excited about our next step in partnering with global leaders for a full hydrogen value chain offering, from production through end use construction.”

“We view this strategic investment and more so, partnership, as an exceptional commercial step for our combined teams to bring new commercial opportunities in Europe and the United States jointly forward where we will have an unmatched hydrogen offering.”

Laurent Carme, McPhy’s CEO, added, “We are thrilled to welcome Chart Industries as a strategic investor and partner, bringing deep expertise in their hydrogen-related applications.”

“We anticipate new commercial opportunities in hydrogen across Europe and globally through this partnership.”