TechnipFMC In Green Hydrogen Push with McPhy
TechnipFMC (NYSE: FTI, PARIS: FTI) has announced that it has entered into a strategic collaboration with McPhy (EPA: MCPHY) to accelerate green hydrogen.
As part of a Memorandum of Understanding (MoU) signed by the two companies, TechnipFMC and McPhy will jointly work on technology development and project implementation. The MoU establishes a collaboration framework for the manufacturing and commercialization of hydrogen electrolysis production systems for large industry, renewable energy storage and large mobility projects, as well as hydrogen distribution systems for large mobility projects.
“The collaboration with McPhy is an important milestone for the future of the green hydrogen industry and demonstrates our ambition to accelerate the journey to a low-carbon society,” Arnaud Pieton, the president of Technip Energies, said in a company statement.
“We will work with McPhy to develop large-scale and competitive carbon-free hydrogen solutions from production to liquefaction, storage and distribution which we firmly believe is core to achieving net-zero targets,” he added in the statement.
“We are excited to be also joined by Chart Industries, whose expertise lies in equipment development and is complementary to our process technology and project capabilities. We are proud to keep the same pioneering spirit and our commitment to technology and outstanding project execution to serve the energy transition,” Pieton went on to say.
TechnipFMC describes its Technip Energies segment as a leading global engineering and construction services provider for the global energy industry and a market leader in hydrogen. Founded in 2008, McPhy specializes in hydrogen production and distribution equipment. The company aims to develop a carbon neutral society thanks to hydrogen.
TechnipFMC is organized in three business segments comprising Subsea, Surface Technologies and Technip Energies. The business, which is headquartered in both Houston and Paris, employs approximately 37,000 people, according to its website.
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