McPhy Energy develops and provides a technology for the solid storage of hydrogen in the form of magnesium hydride. The company has created an alternative solution for on-site hydrogen production aimed at industry and the renewable energy sectors. McPhy raised €13.7m in a second round of funding to reinforce its commercial and technical team and to invest in additional production equipment. In January 2009 it previously raised €1.6m from Emertec and Areva. The company is already present in Spain and in Italy and is planning to open offices in Germany, Northern Europe, the Middle East and Japan. The new capital is intended to support its commercialization and expansion of production capabilities.

Total raised

$17M

Funding rounds

1

Latest round

Equity

Latest activity

Jul 2010