The transaction ensures the continued operation of the Belfort Gigafactory, preserves approximately 50 jobs in France, and accelerates the development of new generations of pressurised alkaline electrolysers.
The acquisition follows McPhy’s bankruptcy protection filing in June and includes the Belfort site, related technologies and intellectual property, as well as 51 employees. By integrating McPhy’s expertise, John Cockerill aims to strengthen its technological offering and enhance its competitiveness in the electrolysis sector.
“This targeted acquisition preserves a strategic industrial asset and lays the groundwork for the next generation of electrolysers,” said Nicolas de Coignac, CEO of John Cockerill Hydrogen. “By combining John Cockerill’s electrolysis cells with select innovative components from McPhy, the goal is to achieve a 10–15% competitive advantage over current models. Electrolysis is a key technology for decarbonizing heavy industry, making this a long-term endeavor. Such a project cannot rely on announcements alone – it requires stable, sustained, and independent industrial capacity. The acquisition of key McPhy assets marks a significant milestone in advancing this strategy.”
The move also reinforces John Cockerill’s industrial presence in France, notably in Aspach and Belfort, while continuing assembly and R&D operations at the Group’s headquarters in Seraing, Belgium.
Cédric Perrin, Senator for the Belfort region and Chairman of the Senate Committee on Foreign Affairs, Defence, and Armed Forces, welcomed the development: “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. This acquisition of McPhy’s key assets by John Cockerill is excellent news, which has come to fruition after a long period of work by the company and elected officials. It is now important for the State to refine its hydrogen strategy in order to accelerate the energy transition and decarbonization.”
Damien Meslot, Mayor of Belfort and President of Greater Belfort, also praised the deal: “This announcement is excellent news for employees, for the hydrogen sector, and for the investments made in Greater Belfort. It will enable the Foussemagne gigafactory to continue manufacturing electrolysers as a Franco-Belgian company, thereby contributing to the sovereignty of the French green hydrogen sector and making Belfort a centre of excellence in this field. With the backing of a Group the size of John Cockerill, the Foussemagne Gigafactory is stepping into a new dimension that will reassure customers and open up new markets. I am therefore fully satisfied with the proposed takeover solution. I now hope that the expected market and public support will develop to enable the sector to grow in France and Europe.”
