McPhy secures $213 million in investment to scale up H₂ generators

The French firm McPhy has raised $213 million to advance its technology for electrolytic production of hydrogen from water. New investors Chart Industries and Technip Energies, both natural gas equipment and service firms, put up $35 million and $18 million, respectively. Investment funds and existing investors contributed the rest. McPhy says it will use the money to scale up manufacturing and develop larger-scale plants and H₂ fueling stations. Chart and Technip say they see opportunities in carbon-free energy like hydrogen made with renewable electricity.