Paris, the 21st of January 2013
The Ecotechnologies fund, managed by CDC Entreprises on behalf of the state within the framework of the actions of the Program of Investments for the Future (PIA) entrusted to the Ademe, carries out its second investment in the company McPhy Energy. This 5M€ equity investment aims at supporting the commercial development of the company following the acquisition of an electrolysis equipments production unit. This investment is part of a 10M€ capital increase completed by the company’s historical investors: Emertec Gestion, Sofinnova Partners, Gimv, Arevadelfi and Clipperton Finance.
Pascal Mauberger, President of the Supervisory Board commented on the capital increase: « We are extremely satisfied with the arrival of the Ecotechnologies Fund in McPhy’s capital, which will provide a strong boost to the company’s growth. We aim at accelerating the commercial launch of our innovative solution for hydrogen storage, while promoting a combined offer including the onsite installation of hydrogen production units (based on water electrolysis). Acquiring the electrolysis production unit naturally leads to this combined offer strategy and required a significant capital increase. »
The Ecotechnologies Fund
Endowed with 150M€ within the framework of the implementation of the actions of the Program of Investments for the Future (PIA) entrusted to the Ademe, this fund is managed by CDC Entreprises, a subsidiary of the Caisse des Dépôts. The Ecotechnologies fund invests from 1M€ to 10M€ in co-investments with private players, in the capacity of a well-informed investor. It is targeting equity capital and quasi-equity capital operations, for acquisitions of minority stakes in innovative SMEs primarily established in France, and non-listed.
The sectors in which the fund may invest are defined by the 4 following Investments for the Future programmes managed by the Agence De l’Environnement et de la Maîtrise de l’Energie (Ademe) : (i) decarbonized renewable energy and green chemistry, (ii) smart grids , (iii) circular economy (waste reclamation, eco-design and industrial ecology), (iv) vehicle of the future. The fund’s specific sectors are further defined in the various requests for proposals (AMI) launched by l’Ademe and accessible on its website.
About McPhy Energy
Based in Drome & Isère, France, McPhy Energy’s mission is to industrialize and commercialize an innovative hydrogen storage technology using magnesium hydrides. Offering unique advantages compared with the other hydrogen storage solutions, this technology addresses the industrial hydrogen and renewable energy markets. McPhy Energy owns exclusive rights on a portfolio of patents, which result from over 8 years of research at CNRS, in partnership with Joseph Fourier University (France). A member of the TENERRDIS competitiveness cluster, McPhy Energy is involved as direct partner or subcontractor in several research projects. McPhy Energy is listed in the Global Cleantech 100 and the Top 5 Cleantech France. The company has recently signed numerous contracts in France, the United Kingdom, Germany, Italy and Japan, demonstrating its technological leadership.