McPhy, Genvia, Elogen, and John Cockerill, manufacturers of electrolyzers, will construct new gigafactories in France with the help of millions of euros in public money as part of a €2.1 billion ($2.05 billion) state-aid initiative to make France “the world leader in carbon-free hydrogen.”
According to Prime Minister Elisabeth Borne, the funds would be divided among ten French hydrogen businesses, with a special emphasis on electrolysis and equipment for commercial fuel-cell trucks.
All four manufacturers of electrolyzers had previously stated their plans to construct gigafactories in the nation, but none had made a final investment decision (FIDs). After contracts for finance have been signed with the French public investment bank Bpifrance, these FIDs are now anticipated to be made soon.
Elogen, a manufacturer of PEM electrolyzers, has disclosed that it would receive €86 million in state aid, while McPhy, which makes high-pressure alkaline electrolyzers, claims it will receive €114 million.
Belgian-French multi-sector firm John Cockerill, which also makes pressurized alkaline electrolyzers, and Genvia, a joint venture between private enterprises and governmental agencies that wants to create a solid-oxide electrolyzer gigafactory by 2025, have yet to publicly comment on the investment.
The European Commission authorized the €2.1 billion in state aid in July after designating a total of 41 hydrogen projects around the EU as Important Projects of Common Interest as part of its so-called Hy2Tech initiative.
According to the prime minister, initiatives funded by the €2.1 billion will receive a total of €3.2 billion in private investment, adding up to the creation of roughly 5,200 direct employment.