McPhy Energy, a prominent French company specializing in electrolyzer technology, has reported a remarkable performance for the first half of 2024, demonstrating significant growth in its electrolyzer business and overall revenue. Despite facing challenges in the market, the company's revenue surged by 35% to €9.5 million, with the electrolyzer business contributing significantly with a growth of 120%. The total backlog, including €21.6 million for electrolyzers, indicates a strong pipeline of projects ahead. The successful execution of the funding plan boosted the company's cash position to €57.6 million by June 30, 2024, ensuring financial stability for future endeavors. Moreover, McPhy Energy signed an agreement with Larsen & Toubro to extend technology transfer, enhancing its capabilities in the sector. The company anticipates a promising full-year revenue projection between €18 million and €22 million for 2024. CEO Jean-Baptiste Lucas highlighted the completion of major projects, sale of its station business, and the initiation of large-scale electrolyzer production at the Gigafactory as key milestones. The company's involvement in various projects, including collaborations with global players and initiatives like producing low-carbon hydrogen, signifies its commitment to advancing in the high-potential hydrogen market.