In the first half of 2024, McPhy Energy, a significant player in electrolyzer technology, reported a notable 35% increase in revenue, amounting to 9.5 million euros. This growth was predominantly fueled by a remarkable 120% surge in electrolyzer activity. The company's strategic positioning in the hydrogen market was further validated by a total backlog of 27.7 million euros, indicating robust order growth. McPhy's shift towards electrolyzers was exemplified by key projects such as delivering a 4 MW electrolyzer to AAK for low-carbon hydrogen production and forming partnerships with industry leaders like Hype and the Plansee Group for green solutions. A pivotal move in the firm's strategy was the sale of its hydrogen refueling station business to focus exclusively on electrolyzer production, bolstering its industrial capabilities with the Gigafactory. A significant agreement with Larsen & Toubro for technology transfer showcases McPhy's global expansion. While facing financial challenges with an EBITDA of -24.7 million euros, the company remains financially robust with 57.6 million euros in cash, ensuring operational continuity. McPhy anticipates revenue growth between 18 and 22 million euros for 2024, propelled by existing orders and industrial expansion, including notable projects like the Djewels green hydrogen project and the HMS hydrogen pipeline. The company aims to enhance its presence in the industrial sector through intensified commercial efforts, leveraging its production capacity and strategic partnerships to solidify its position in the burgeoning green hydrogen market.