TechnipFMC Invests and Enters into a Strategic Collaboration with McPhy to Accelerate Green Hydrogen
TechnipFMC (NYSE:FTI) has signed a Memorandum of Understanding (MoU) with McPhy, a leader in carbon-free hydrogen solutions. This collaboration aims to develop technology for hydrogen production and distribution, aligning with TechnipFMC's commitment to support the energy transition. TechnipFMC's Technip Energies segment, a market leader in hydrogen technology, will focus on manufacturing hydrogen electrolysis and distribution systems. The agreement also includes an equity investment in McPhy, enhancing TechnipFMC's growth prospects in the green hydrogen sector.
- Strategic collaboration with McPhy to develop hydrogen technology.
- TechnipFMC's investment strengthens its position in the green hydrogen market.
- Technip Energies is a market leader in hydrogen with extensive experience.
- None.
LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) signed a Memorandum of Understanding (MoU) with McPhy (EPA:MCPHY), a leading manufacturer and supplier of carbon-free hydrogen production and distribution equipment, pursuant to which the two companies will jointly work on technology development and project implementation. TechnipFMC is also making an equity investment in McPhy.
TechnipFMC’s Technip Energies segment is a leading global engineering and construction services provider for the global energy industry and is a market leader in hydrogen, having provided proprietary steam reforming technology for more than 270 hydrogen production plants worldwide. The MoU establishes a collaboration framework for the manufacturing and commercialization of (i) hydrogen electrolysis production systems for large industry, renewable energy storage and large mobility projects and (ii) hydrogen distribution systems for large mobility projects. Through their MoU, Technip Energies and McPhy will jointly address commercial opportunities, work on integrating their respective offerings and work on research and development for hydrogen technology.
Arnaud Pieton, President of Technip Energies, stated: “The collaboration with McPhy is an important milestone for the future of the green hydrogen industry and demonstrates our ambition to accelerate the journey to a low-carbon society. We will work with McPhy to develop large-scale and competitive carbon-free hydrogen solutions from production to liquefaction, storage and distribution which we firmly believe is core to achieving net-zero targets. We are excited to be also joined by Chart Industries, whose expertise lies in equipment development and is complementary to our process technology and project capabilities. We are proud to keep the same pioneering spirit and our commitment to technology and outstanding project execution to serve the energy transition.”
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About TechnipFMC
TechnipFMC is a global leader in the energy industry; delivering projects, products, technologies and services. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our customers’ project economics.
Organized in three business segments — Subsea, Surface Technologies and Technip Energies — we are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our customers in developing their energy resources and in their positioning to meet the energy transition challenge.
Each of our approximately 37,000 employees is driven by a steady commitment to clients and a culture of project execution, purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.
TechnipFMC utilizes its website www.TechnipFMC.com as a channel of distribution of material company information. To learn more about us and how we are enhancing the performance of the world’s energy industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
