John Cockerill raises €230 M to ramp up the deployment of electrolysers

John Cockerill electrolysers
John Cockerill raises €230 M to ramp up deployment of electrolysers

This fund-raising is a crucial step in supporting John Cockerill Hydrogen’s strategy. Its roadmap includes the deployment of gigafactories in strategic locations and a new generation of alkaline electrolysers.

This comes as no surprise, since the Belgian press had already reported a potential round of fund-raising. The capital has been raised through investment from SLB (a global energy tech company); SFPIM and Wallonie Entreprendre (WE), two major Belgian public investment institutions; and international Family Offices with expertise in industry. These commitments will enable John Cockerill Hydrogen to increase its capital by €230 million. The transaction is expected to be completed by the end of June.

SLB’s majority investment will establish a strategic partnership with John Cockerill to accelerate the development and manufacturing of the next generation of pressurised alkaline electrolysers worldwide. “Combining our expertise in electrolyzer technology with SLB’s global reach and manufacturing and service know-how will further accelerate the adoption of our solutions to produce green hydrogen at scale,” said François Michel, CEO of John Cockerill. 

A targeted deployment of gigafactories in sight

Following the footsteps of Rely, the joint venture between John Cockerill and Technip Energies announced in November 2023, the strategic aim of these partnerships is to strengthen John Cockerill’s technological leadership in pressurised alkaline electrolysis. To date, the company has delivered 1,300 electrolysers worldwide and has a portfolio ranging from 5 MW stacks to a complete 30 MW pressurised alkaline electrolyser system.

The Belgian group, which retains the majority stake in its hydrogen subsidiary, plans to expand its global footprint through a multi-local strategy. It will set up electrolyser production and service centres in the United States, India and the United Arab Emirates. Similar investments with major partners are being considered in Morocco and Vietnam.

Article written by Laurent Meillaud and translated by Mariem Ben Tili

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About the author

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Laurent Meillaud

Freelance automotive journalist and consultant, author as well, focused on technologies and new trends for more than 30 years, convinced that hydrogen is one of the energies for the future.

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