reports
McPhy Energy : Procédure de redressement judiciaire et offres de repri...
McPhy Energy : Procédure de redressement judiciaire et offres de reprise - Point de situation Foussemagne (France), le 25 juin 2025 – 17h45 CEST McPhy Energy (« McPhy ») annonce que, lors d’une audience en date du 24 juin 2025, le Tribunal de commerce de Belfort (le « Tribunal ») a examiné les offres de reprise déposées dans le cadre de la procédure de redressement judiciaire1. Le délibéré a été fixé au 8 juillet 2025. Qu’une offre de reprise soit adoptée ou non par le Tribunal, il est anticipé que le redressement judiciaire ouvert à l’égard de McPhy sera converti en liquidation judici...
McPhy Energy: Judicial reorganization and offers - Update
McPhy Energy: Judicial reorganization and offers - Update Foussemagne (France), June 25, 2025 – 5.45 p.m. CEST McPhy Energy (“McPhy”) announces that, during the hearing on June 24, 2025, the Belfort Commercial Court (the “Court”) reviewed the offers submitted as part of the judicial reorganization process1. The deliberation has been set for July 8, 2025. Whether or not an offer is adopted by the Court, it is anticipated that the judicial reorganization opened against McPhy will be converted into judicial liquidation to allow the liquidation of the assets and activities not transferred. ...
McPhy Energy : Résiliation du contrat de liquidité avec Natixis ODDO B...
McPhy Energy : Résiliation du contrat de liquidité avec Natixis ODDO BHF Foussemagne (France), le 12 juin 2025 – 18h30 CEST McPhy Energy (« McPhy ») annonce avoir mis fin, avec date d’effet au 4 juin 2025, au contrat de liquidité conclu avec Natixis ODDO BHF. À la date de cette résiliation, les moyens suivants figuraient au compte de liquidité : 161 072 titres McPhy ; etSolde en espèces de 159 731,52 euros. Il est rappelé que lors de la conclusion du contrat de liquidité, en date du 29 janvier 2021, les moyens suivants figuraient au compte de liquidité : 4 343 actions ; etSolde en espè...
McPhy Energy : Ouverture d’une procédure de redressement judiciaire
McPhy Energy : Ouverture d’une procédure de redressement judiciaire Foussemagne (France), le 6 juin 2025 – 18h00 CEST McPhy Energy (« McPhy ») annonce l’ouverture en date du 4 juin 2025 d’une procédure de redressement judiciaire par le Tribunal de commerce de Belfort (le « Tribunal ») 1. Dans ce cadre, le Tribunal a désigné : la SCP Abitbol & Rousselet, prise en la personne de Maître Joanna Rousselet (précédemment conciliatrice de la Société2) en qualité d’administrateur judiciaire avec une mission d’assistance ; etMaître Flavien Marchal en qualité de mandataire judiciaire. L’ouvertu...
McPhy Energy:
McPhy Energy: Foussemagne (France), June 6, 2025 – 6 p.m. CEST McPhy Energy (“McPhy”) announces the opening of a judicial reorganization (redressement judiciaire) as of 4 June, 2025 by the Belfort Commercial Court (the “Court”)1. In this context, the Court has appointed: SCP Abitbol & Rousselet, represented by Maître Joanna Rousselet (formerly the Court-appointed conciliator (concliateur) for the Company2), as judicial administrator (administrateur judiciaire) with an assistance mission; andMaître Flavien Marchal, as creditors’ representative (mandataire judiciaire). The opening of t...
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
HydrogenPro: LONGi Hydrogen to invest NOK70m
HydrogenPro announced yesterday that LONGi Hydrogen has obtained the necessary Overseas Direct Investment (ODI) approval in China to invest NOK70m in the company. This follows an announcement made in December 2024 whereby HydrogenPro had secured (i) NOK70m in new equity from its existing strategic
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
HydrogenPro: Q1 results
HydrogenPro has reported Q1 2025 results this morning confirming challenging dynamics due to lacking and postponed investment decisions for green hydrogen production. Revenue came in at NOK22m in Q1 2025 (vs FY25 cons. at NOK469m), mostly derived from the SALCOS project with Andritz in Germany, for
McPhy Energy: Search for a buyer - Update on the situation
McPhy Energy: Search for a buyer - Update on the situation Foussemagne (France), May 14, 2025 – 6.45 pm CEST, McPhy Energy ("McPhy") recalls that a conciliation procedure was opened last April1, and that in this context, McPhy, together with the conciliator thus appointed2, has initiated, in parallel with the search for in bonis3 offers, a call for tenders for takeover as a sale plan with a view to finding a buyer for (all or part) of McPhy's assets and activities. The deadline for the receipt of tenders has now expired4. In view of the elements received in the context of the above-mentio...
McPhy Energy : Recherche de repreneur - Point de situation
McPhy Energy : Recherche de repreneur - Point de situation Foussemagne (France), le 14 mai 2025 – 18h45 CEST, McPhy Energy (« McPhy ») rappelle qu’une procédure de conciliation a été ouverte en avril dernier1, et que dans ce cadre, McPhy, conjointement avec la conciliatrice ainsi désignée2, a initié en parallèle de la recherche d'offres in bonis3, une procédure d'appel d'offres de reprise en plan de cession en vue de trouver un repreneur pour (tout ou partie) des actifs et des activités de McPhy. La date limite pour la réception des offres est désormais expirée4. Au vu des éléments reç...
McPhy Energy: Monthly information relating to the total number of voti...
McPhy Energy: Monthly information relating to the total number of voting rights and outstanding shares (April 30, 2025) Translation for information purposes only In accordance with articles L. 233-8-II of the French Commercial Code and223-16 of the Autorité des Marchés Financiers General Regulation Reporting company: Corporate name: McPhy EnergyPublic Limited company (société anonyme) with Board of DirectorsRegistered office: Aéroparc – 1615 Avenue de la Grande Piste, 90150 FoussemagneRegistered under number 502 205 917 R.C.S. BelfortEuronext Growth Paris (ISIN code: FR0011742329 - AL...
McPhy Energy : Déclaration du nombre total des droits de vote et du no...
McPhy Energy : Déclaration du nombre total des droits de vote et du nombre d’actions au 30 avril 2025 Conformément aux articles L. 233-8-II du Code de commerce et 223-16 du Règlement général de l’Autorité des Marchés Financiers Société déclarante : Dénomination sociale : McPhy Energy Société Anonyme à Conseil d’AdministrationSiège social : Aéroparc – 1615 Avenue de la Grande Piste, 90150 FoussemagneImmatriculée sous le n° 502 205 917 R.C.S. BelfortEuronext Growth Paris (Code ISIN : FR0011742329 - ALMCP) Date Nombre total d’actions en circulation Nombre total de droits de vote* Brut ...
- Daniel Slater
ITM Power (ITM LN) - Contract award - BUY
ITM has announced another new contract award, the company’s third this week. This is for a single Neptune 2MW unit for a Spanish cement manufacturer. The Neptune 2MW is a complete standalone electrolyser system, including all the required power conversion and balance of plant equipment, and will be expected to provide hydrogen to displace natural gas in the cement making process. Lead times for the Neptune 2MW are shorter than other ITM products, meaning the company expects to recognise revenue ...
- Daniel Slater
ITM Power (ITM LN) - 120MW contract award - BUY
ITM has announced a significant new 120MW contract award. This is from Uniper for its Humber H2ub project, which is planned to sell hydrogen into the 245mbbl/d Phillips 66 Humber refinery, helping reduce its grey hydrogen consumption. Initial capacity of the H2ub project is planned to be 120MW, using six of ITM’s Poseidon 20MW units, with the potential for subsequent expansion to over 320MW in total. FID on the H2ub project is expected in 2026.
- Martin Huseby Karlsen
Nel (Sell, TP: NOK1.50) - In hope they trust
Q1 revenue missed consensus by 29% and our estimate by 38%. Despite industry-wide challenges, Nel remains optimistic on new orders – although it last booked a sizeable order in late-2022. On the positive side, cash of NOK2.1bn provides investors with decent time optionality awaiting a better market (we do not expect a liquidity injection), added to which it has a good technology track record and know-how. We reiterate our SELL and NOK1.5 target price.
- ABGSC Renewable Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
- ABGSC Energy Research
- Daniel Vårdal Haugland
- John Olaisen
- Njål Kleiven
- Oliver Dunvold
- Stian Wibstad
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Lhyfe: EUR53m debt financing
Lhyfe yesterday announced that it has secured EUR53m debt financing for a portfolio of four green hydrogen projects. This transaction allows Lhyfe to complete the financing and refinance part of the investment already made in four units in France and Germany, with already operating and under develo
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Nel: poor Q1 results
This morning, Nel has reported Q1 2025 revenue at NOK155m (-63% QoQ, -44% YoY), 37% below cons. at NOK245m. The quarter was impacted by temporary production halts, with a significant slowdown in the alkaline division negatively impacting (-69% YoY) the scale and the revenue mix. EBITDA loss stood a
- ABGSC Renewable Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
- Martin Huseby Karlsen
Nel (Sell, TP: NOK1.50) - No signs of life on the horizon
With no meaningful orders secured since late 2022, weak backlog coverage for 2025e, production facility shut-ins, an uncertain market outlook, and further uncertainties related to its US expansion plans, challenging times are set to remain. While we are in line with consensus ahead of the Q1 report, our 2025e revenues and EBTIDA are 30% and 52% below consensus, respectively, with weak backlog coverage even on our estimates. Focus ahead should be on maintaining the liquidity runway and any equity...
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