Brief: McPhy Energy Launches Gigafactory On Belfort Site

Mcphy Energy SA

02/11/2022 06:47

Nov 2 (Reuters) - MCPHY ENERGY SA  MCPHY.PA :
    * LAUNCH OF MCPHY'S GIGAFACTORY ON BELFORT SITE
    * PUBLIC AID CONTRACT SIGNED WITH BPIFRANCE TO A MAXIMUM
AMOUNT OF
114 MILLION EUROS, WITH A1ST PAYMENT OF 28.5 MILLION EUROS
    * INDUCED ACCELERATION OF DEVELOPMENT INVESTMENTS AND
EXPENSES
WITH AN IMPACT ON FINANCIAL PERFORMANCE OF SECOND HALF OF 2022
    * COMMISSIONING IS SCHEDULED FOR H1 2024, WITH A GRADUAL
RAMP-UP
TO REACH AN ANNUAL PRODUCTION CAPACITY OF 1 GW
    * WILL RECEIVE BY DECEMBER 31, 2022 AN INITIAL PAYMENT OF
28.5
MILLION EUROS
    * SUBSEQUENT PAYMENTS WILL TAKE FORM OF REIMBURSEMENTS OF
EXPENSES
INCURRED FOR A TOTAL AMOUNT, INCLUDING INITIAL PAYMENT, OF UP TO
114 MILLION EUROS
    * THESE EFFORTS ARE EXPECTED TO LEAD YEAR-END CASH POSITION
TO A
LEVEL COMPARABLE TO END OF FIRST HALF

Source text for Eikon:  ID:nGNE68kLjQ 
Further company coverage:  MCPHY.PA 
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