McPhy - hydrogen expertise from France

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“France’s NEL,” or McPhy, deserves its own thread. There’s already discussion about this company in the energy thread, which you should read through using the search function.

Generally, questions related to energy (especially hydrogen) should be asked in this thread:

Let’s keep the discussion in this thread on topic, share information, engage in good spirits, and well-reasoned criticism is always welcome! Remember to keep comments on share price to a minimum.

The company was founded in 2008 in La Motte-Fanjas, France. Originally, the company was founded for “breakthrough technology of hydrogen storage in solid form,” but nowadays, it focuses on electrolysis and hydrogen stations.

McPhy is listed in Paris: MCPHY ENERGY | FR0011742329 | Company information

The company has a good and concise history page about significant turning points, so there’s no need to explain it further in my own words; it can be found here: https://mcphy.com/en/mcphy/our-history/

Among the largest owners, EDF (Électricité de France) should be mentioned. EDF owns 21.2% of McPhy. Here’s some background on EDF’s ownership: https://mcphy.com/en/press-releases/edf-and-mcphy-have-entered-into-a-partnership-agreement/

EDF certainly needs no major introduction, but you can find more here: Électricité de France - Wikipedia

McPhy has interesting projects, and I can collect some of them here.

“Zero Emission Valley”
https://fuelcellsworks.com/news/francehydrogen-ademe-adds-e-14-4-million-into-zero-emission-valley/
McPhy has secured deals for hydrogen stations there, and big players like Engie are involved.
https://mcphy.com/en/press-releases/zero-emission-valley-3/

This Dutch electrolysis deal must also be mentioned:
https://mcphy.com/en/press-releases/industrial-hydrogen-a-20-mw-project-in-the-netherlands/

The Jupiter project is also worth mentioning, as it aims for MW-scale (PEM and Alkaline):
https://mcphy.com/en/achievements/jupiter-1000/

The 2019 results can be found here: https://mcphy.com/en/press-releases/mcphy-2019-results/

Good presentation on McPhy 2020_06_24_McPhy_Investors_Presentation(1).pdf (1.9 MB)

Here’s a good picture of competitors (the picture is a bit old, some companies have been acquired):

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YouTube clip from the Djewell project; McPhy is involved in the project.

Press corner | European Commission Screenshot from the European Clean Hydrogen Alliance presentation (you can download the document from the link).

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Edit: If there are any significant errors/omissions, please let me know. I will modify the opening post. :slight_smile:

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Energia-alan teknologinen kehitys ja sijoitusmahdollisuudet
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McPhy’s great strength lies in its ownership background and the fact that the French know how to pull all public funds, which are available in billions, back home.

Ownership is also a weakness; no takeover bid will proceed without EDF’s approval, and that won’t come easily, especially for non-European entities.

On the other hand, EDF is a candidate to buy the whole pump.

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Yeah. With a French company, thoughts inevitably drift to Areva, and why not also Nokia’s Alcatel-L. issues. Would they be playing on slightly different teams?

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And maybe it even reminds me of that Renault that broke down in 1995.

McPhy’s rise has been epic this year, but one thing is still unclear to me: what is the basis for that valuation difference compared to ITM Power?

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I’ve been pondering that myself, and I just don’t understand why. McPhy also has big projects and partners, and there aren’t huge differences in their offerings. They’ve also released a good amount of announcements. If we compare it to ITM Power, this is completely undervalued. I’m not taking a stance on whether ITM Power is valued “correctly”

By the way, McPhy’s Q2 is on Tuesday!

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France has quite a large package. One could imagine that the country’s only electrolyser and hydrogen station manufacturer would benefit from this.

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I guess I know what’s interesting about this company too.

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Edit:
The thread starter flagged the message and said no “vague insinuations”. I only meant to comment on the company’s development, but that message piqued my interest. I started looking at Nordnet’s broker statistics for the stock’s trading volumes.

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These liquidity figures are already such that even a single stock market player can manipulate the price. This is a very small company with a turnover of 11.4 million. For example, Piipo, one of the smallest companies on our stock exchange, has almost double the turnover.

It’s probably appropriate to make a public service announcement if there are people on the forum who have just started investing in stocks:
never buy stocks based on a single online tip, but always do your own research on the company to see if it’s suitable for your own portfolio.

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French AREVA H2Gen also manufactures electrolysis equipment. AREVA owns 33% and the French state apparently now owns AREVA entirely. Browsing their website gave a somewhat shabby impression. They state their factory’s capacity as 30 electrolysis units per year.

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McPhy’s volume last Friday was 1,178,834, not 950 (which presumably only concerns trading on Nordnet).

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It’s not Nordnet, so it’s probably Nordea’s trading.

But good point!

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Good. This post already had some content! If you put in a little effort, you can generate better discussion.

Let’s keep company-specific threads civil, and of course, critical writings are an essential part of the discussion!

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Yes, it can be found on Nordnet, but only the Nasdaq OTC Foreign listing, which really shouldn’t be focused on. The actual share listed in France can be found at Nordea and other brokers.

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Could you add to the original post which marketplaces it’s available in, so we don’t have to guess what and where later in dozens of messages.

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I don’t know how “very small company” is defined, market cap 360M, I would classify it as small.

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Morning to the thread.
I’ve been thinking for a while now whether to jump on the hydrogen bandwagon with the Norwegian company Nel or the French company McPhy. Now I’m leaning towards McPhy simply because its location in Europe is more central, and France will likely choose its own country’s products for this battle towards a carbon-neutral world in the coming decades. :sweat_smile:

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Has anyone managed to dig up the time of McPhy’s Q2 release? It should be today.

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The company’s website states that the half-year report will be published after the stock market closes.

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I only found this:

First semester 2020 results release, on July 28, 2020, after close of trading.

And the Paris stock exchange closes at 7:30 PM, just so you know.

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https://mcphy.com/?mailpoet_router&endpoint=view_in_browser&action=view&data=Wzk2LDAsNjM4OSwiNzdlYmIxYjFjY2IxZDI2ZjdhMjJmNDQxYTliMzk3MjAiLDYyLDBd

Partially published

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