The network includes 70 stations, along with an industrial facility boasting a production capacity of over 80 stations per year. This 2,400m2 production area will allow Atawey to fulfil its order backlog of €25m ($27m) and meet upcoming growth projections.

More than 40 McPhy employees will join Atawey, increasing its total number of staff to 145. The R&D team joins Atawey with 10 years of experience in HRS manufacturing with a dozen patents secured and other intellectual property rights.

The two companies will collaborate on the execution of all ongoing projects and the continuity of services associated with the 40 stations installed before the takeover. McPhy first received the binding offer in February (2024) and has today (July 17) confirmed the takeover.

Read more: McPhy receives binding multi-million-euro offer for hydrogen station business sale

Atawey’s CTO and Co-Founder, Pierre-Jean Bonnefond claimed the acquisition represents a “major opportunity” to grow the company.

“On the industrial side, we will benefit from the expertise of experienced production teams, a significant increase in our production capacity, and the acquisition of equipment already used for the manufacturing and testing of hydrogen stations,” he said.

Jean-Michel Amaré, President and Co-Founder of Atawey, added, “We aim to capitalise on know-how and expertise to continually improve our decarbonised mobility solutions and thus address global challenges, both economically and technologically as well as environmentally.”