McPhy Struggles to Attract Buyers Before Liquidation Looms

As of June 2025, McPhy Energy—the once-prominent French electrolyzer manufacturer—stands on the brink of liquidation, a sobering indicator of the tightening margins, delayed revenue cycles, and capital shortfalls impacting Europe’s hydrogen technology firms.

Small Modular Reactors

First Hydrogen Corp. is positioning itself at the convergence of two major transformation vectors: clean hydrogen and small modular nuclear reactors (SMRs). The company has announced a research collaboration with Professor Muhammad Taha Manzoor of the University of Alberta, targeting the design optimization and fuel material development for SMRs—an increasingly strategic energy source amid ballooning power demand from AI data centers.