Credendo – Export Credit Agency and Bpifrance Assurance Export have entered into a memorandum of understanding (MOU) with Rely, a joint venture established by Technip Energies and John Cockerill in November 2023. The primary objective of this collaboration is to support Rely’s clients by offering appealing project financing options and enhancing Rely’s market position and competitiveness. Through the provision of insurance, co-insurance, or reinsurance that can cover up to 95% of potential losses arising from commercial and political risks, Credendo and Bpifrance aim to simplify the process for commercial banks to provide loans at competitive rates to projects focused on decarbonising industries and transportation. This partnership is a significant step towards accelerating the development of large-scale green hydrogen and Power-to-X production solutions in Europe, contributing to the transition towards more sustainable and environmentally friendly industrial and transportation practices.