The group has stated that, with this expected sustained growth for the coming year, the company is expecting to continue its research and development into this space and position is electrolysis systems as an essential component for large-scale production projects.

Read more: McPhy to increase hydrogen station production sevenfold with new site

This could be key for the growing hydrogen market with large-scale production required in order to scale the market and accelerate the adoption of cost-competitive hydrogen.

A gigafactory will also be created in Belfort, Germany, in order to produce large quantities of electrolyser systems presenting an opportunity to develop further large-scale production projects in Europe.

McPhy is also working on the development of its new production site based in Grenoble, France, and will take possession of the site in the spring of 2022 and begin a relocation in several phases during the second quarter.

Another important factor mentioned within the annual results is that the Russian-Ukrainian conflict and geopolitical tension could have consequences on McPhy’s business and outlook in the coming year.

Making hydrogen happen

This March, H2 View will explore A Climate for Action and Investment in Europe in an immersive virtual event that features some of the leading stakeholders and influencers in hydrogen, including a Women in Green Hydrogen panel.

Confirmed speakers include the Hydrogen Europe, Clean Hydrogen Partnership, FiveT Hydrogen, Airbus, Nel, BMW, Michelin and more.

Further information on the event, agenda and confirmed speakers can be found here.

To book your ticket for €79, click here.