In Grenoble, France, McPhy Energy, specializing in low-carbon hydrogen production and distribution equipment, completed the sale of its refueling stations business to Atawey, a key player in hydrogen distribution equipment, for a final price of €12 million. The transaction, initiated in December 2023, culminated in an agreement where Atawey will pay the amount in installments until December 31, 2025, with a potential earn-out based on future orders. The sale signifies a strategic move for both companies, with McPhy Energy aiming to refocus on its electrolyzer manufacturing business, while Atawey solidifies its position as the European leader in hydrogen refueling stations. Atawey will integrate McPhy's technologies and workforce, expecting strong growth and profitability in the coming years. Following the sale, McPhy Energy is set to leverage the proceeds to support its industrial scale-up, recently marked by the inauguration of the Belfort Gigafactory. The company's focus on electrolyzer production aligns with its commitment to advancing the low-carbon hydrogen industry in Europe. The acquisition will enable Atawey to meet its current order book of nearly €25 million, with projections for substantial growth. The transaction includes the integration of more than 40 employees from McPhy's teams, fostering collaboration and expertise exchange in the hydrogen sector. Both companies express optimism about the collaboration, emphasizing shared values and a common vision for the future of hydrogen mobility. The move comes amidst a transformative period for the hydrogen industry in Europe, with McPhy and Atawey positioning themselves as key contributors to the continent's energy transition and decarbonization efforts.