This French innovative company is aiming at  industrialising and commercialising a new technology for the solid storage of hydrogen in the form of magnesium hydrides, which represent an alternative solution for the on-site production of hydrogen for the industry sector and a concrete solution to solve the issue of energy storage for the renewable energy sector .

Sofinnova Partners, acting as a leading investor, Gimv and Amundi Private Equity Funds announced today their investment in McPhy Energy, together with the historic investors in a second round of funding worth €13.7m. The funds will be used towards the global expansion of McPhy Energy and the further industrialisation and commercialisation of its products

Read the full press release here (pdf) or go directly to McPhy website.