McPhy and Hype, a key player in light and heavy hydrogen mobility, have finalized their strategic partnership agreement.
As part of the agreement, McPhy purchased €12 million in Hype convertible bonds with a capitalized interest rate of 4.5 percent and a 9-year maturity. Before their maturity date, these bonds can be converted into Hype shares under certain conditions and in limited circumstances for a period of two years, including a change of control, an IPO, or an issuance of securities worth more than €10 million.
In this context, a first order was placed with Hype for the supply of a 2 MW alkaline electrolyzer and an 800 kg per day Dual Pressure station to be installed in the Paris area. By June 30, 2022, two more very large-capacity stations are expected to be ordered.
With the establishment of a co-exclusive framework agreement between Hype and McPhy by the end of 2022, this partnership is expected to yield additional commercial opportunities. This agreement calls for Hype to build a minimum of 100 stations in France and Europe, with half of them going to McPhy, and 15 to 25 MW of alkaline electrolysis capacity.
