McPhy Energy, specialising in hydrogen-based solutions for industrial and energy storage, recorded 22% growth in business over 2014, up to €8.4m.
This progress has been driven by strong growth in the Energy business, climbing 37% to €5.2m, generated by the major demonstration projects. During the year, McPhy Energy completed the production of its first renewable energy based solid hydrogen storage equipment, which will be set up in southern Italy in summer 2015.
The company has also delivered an integrated generation storage solution for the Berlin-Schönefeld refuelling station (H2BER project), inaugurated in May 2014.
The commissioning of this first service station highlights the operational relevance of McPhy Energy’s solutions for carbon-free mobility applications.
The increase in operating expenditure factors in:
After listing on Euronext (Compartment C) in March last year, McPhy Energy has significantly increased its equity, up to €23.4m at 31 December 2014, with a balance sheet total of €34.5m.
The company has €19.8m in cash, with €4.9m of financial debt, giving €14.9m in net cash.
For reference, the figure for financial debt includes €3.6m of advances, repayable under conditions based on the company’s success, with maturities of over five years.
Driven by its industrial and commercial structuring work, and having demonstrated the relevance of its products, McPhy Energy has the financial resources required to capitalise on the strong growth expected in the market for new hydrogen uses.