John Cockerill in talks with governments and French hydrogen fund for €300m H2 fundraise: report
The Belgian engineering group is raising capital amid global electrolyser factory expansion
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John Cockerill Hydrogen, which manufactures pressurised alkaline electrolysers, is reportedly in talks with an unnamed French firm for a €50-100m investment from its €2bn hydrogen-focused fund.
Wallonie Entreprendre, the Wallonia region’s public fund, is set to provide €50m in a convertible loan, while the federal government’s financial arm SFPIM will provide another €50m in direct capital.
The fundraising will also come with a restructuring of John Cockerill Hydrogen’s ownership, which is currently 80.65% held by industrialist Bernard Serin and 19.35% by Dodeca, a vehicle for John Cockerill’s other directors.
This fundraising activity follows major investment into global factory expansions.
John Cockerill currently operates three gigafactories for electrolysers, one fully owned in France and two in China through its subsidiary Cockerill Jingli Hydrogen, and aims to have 8GW of manufacturing capacity by 2025.
John Cockerill is also reportedly considering a gigawatt-scale manufacturing site in the Belgian city of Seraing, where it is headquartered.
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