According to the local press, the Belgian group is to raise 300 million euros for its hydrogen division. The federal government, the Walloon Region and private partners are expected to invest in the company.
This information has been relayed by *l’Echo, and what we know so far is that the region’s public fund, Wallonie Entreprendre, has committed to a convertible note of 50 million euros. SFPIM, Belgium’s sovereign investment fund, is also to grant 50 millions. Private partners have also been solicited for this fund-raising.
This Wallonia gem was created in 1817 and operates in energy, industry and defense. In the energy field, John Cockerill went from steam to hydrogen through a specialised entity. The group’s activities include electrolysers and filling stations for Power to Gas activities and other industrial applications.
Two projects backed as part of IPCEI
The Walloon government has confirmed its financial support to two John Cockerill hydrogen-related projects. Namely, the first multi-site European gigafactory (Aspach in France and Seraing in Belgium) and the Columbus project with Carmeuse and ENGIE. These two projects are part of the European funding programme IPCEI (Important Project of Common European Interest).
Moreover, John Cockerill is part of the new coalition Belgian Hydrogen Council (BHC), which was created by the regional clusters WaterstofNet and Cluster Tweed (the group is already part of it). These clusters aim to strengthen Belgium’s position in Europe and in the world as a pioneer dedicated to clean hydrogen.
On the industrial level, John Cockerill is deploying multiple gigafactories. It is important to keep in mind that the group and Technip Energies have recently launched Rely, a unique supplier of integrated and competitive green hydrogen solutions.
*A Belgian daily business newspaper