McPhy Energy Acquires Italian Electrolysis Pioneer PIEL

GRENOBLE, France, January 17, 2013 /PRNewswire/ --

McPhy Energy, a leading developer and manufacturer of solid state hydrogen storage, today announced that the company has acquired PIEL, an Italian pioneer in hydrogen generators based on electrolysis of water.  The acquisition of PIEL (a division of the ILT Technology Group, near Pisa, Italy), is an important milestone for McPhy Energy in the deployment and accessibility of its innovative technologies, enabling the company to couple the production and storage of solid hydrogen, a unique pairing today.

• PIEL brings its know-how in water-based hydrogen generators, which are connected directly to the electric grid or to renewable energies.  Today PIEL has over 3000 installations in service at more than 1000 customers across the globe.
• McPhy Energy brings its innovative technology for storing hydrogen in a solid state, based on magnesium hydrides.  

     (Logo: http://photos.prnewswire.com/prnh/20120723/546191 )

The integration of the technologies from these two actors makes green hydrogen generation accessible to clients at the point of use and/or the storage of renewable energies, with modular systems adaptable to the demand and needs of the user.

"Recognized for its highly-reliable alkaline generators, PIEL enables McPhy to now offer complete hydrogen solutions coupling storage and electrolyser. This represents a considerable advance in terms of accessibility and autonomy for our customers," says Pascal Mauberger, CEO of McPhy Energy. "Furthermore, it gives McPhy access to PIEL's clients and worldwide commercial network."  

The integration of PIEL into McPhy Italia represents an enormous growth opportunity for both companies.  PIEL brings generators and industrial clients to McPhy, while gaining access to McPhy's storage technology and customers in the energy markets. PIEL will also benefit from additional financing that will enable the company to accelerate projects under development.

"I am particularly pleased to welcome Robert Rasoini, with his deep experience in electrolysis and hydrogen, to McPhy's management team," continues Mauberger.  "He has lead PIEL for over ten years, and will continue to do so under the aegis of McPhy Italia."  

"The integration of these two systems enables us to put an ultra-flexible offer on the market for our clients," explains Adamo Screni, Executive Vice President of Sales, member of the management team and president of McPhy Energy's new Italian subsidiary.  "We can hereby facilitate access to hydrogen on-site for industrial hydrogen users, by creating a very clean, straightforward and economical offer that is much more attractive than current solutions.  For the energy storage market, this is an "all-in-one" solution, which optimizes an installation's global yield."

Coming a few months after the opening of its German subsidiary (July 2012), this acquisition confirms the acceleration of McPhy Energy's expansion and its position as an international leader in the hydrogen market.

The acquisition was managed by Gianni-Origoni-Grippo-Capelli Partners (Rome).

NOTE: McPhy Energy will be at pavilion L stand 4156 of T-Gold Machinery and Tools exhibit (Vicenza, Italy, 19-24 January 2013)

In brief - latest news from McPhy Energy:

January 2013:  acquisition of PIEL in Italy (http://www.piel.it)

December 2012: McPhy Energy becomes an actor in Germany's energy transition, as ITM Power selects McPhy technology for hydrogen storage

November 2012: McPhy Energy Takes Part in the GRHYD Project, Injecting a Breath of Innovation into the French Gas Network

October 2012:  for the third consecutive year, McPhy Energy is one of the top 100 worldwide eco-innovation companies

July 2012: McPhy Energy expands operations in Europe and appoints Roland Kaeppner as CEO for Germany

About McPhy Energy - http://www.mcphy.com  Based in Drome & Isère, France, McPhy Energy's mission is to industrialize and commercialize an innovative hydrogen storage technology using magnesium hydrides. Offering unique advantages compared with the other hydrogen storage solutions, this technology addresses the industrial hydrogen and renewable energy markets. McPhy Energy owns exclusive rights on a portfolio of patents, which result from over 8 years of research at CNRS, in partnership with Joseph Fourier University (France). A member of the TENERRDIS competitiveness cluster, McPhy Energy is involved as direct partner or subcontractor in several research projects. McPhy Energy is listed in the Global Cleantech 100 and the Top 5 Cleantech France. The company has recently signed numerous contracts in France, the United Kingdom, Germany, Italy and Japan, demonstrating its technological leadership.

The original source-language text of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.

SOURCE McPhy Energy