McPhy steps up in hydrogen with new contract, shares rise

Mcphy Energy SA

30/09/2021 09:40

** Shares in France's McPhy Energy rise 3.3% after the group
said it would equip the world's first multi-megawatt hydrogen
power plant  urn:newsml:reuters.com:*:nFWN2QV0TG
    ** The Western French Guiana Power Plant will be equipped
with 16 megawatts of high-power electrolysis supplied by McPhy
    ** "It gives substance to the company's prospects, substance
to revenue forecasts," analyst Alexandre Letz from broker
Gilbert Dupont says in a call
    ** Portzamparc sees the contract represent more than EUR 10
mln ($8.54 mln) for McPhy, with a first contribution in 2022 -
versus EUR 14 mln turnover expected in 2021
    ** "We are still waiting for larger contracts, but it's
already good," Letz adds, pointing to not so frequent good news
of that sort in the last few months
    ** The stock, which is among the best performers of French
SBF 120  .SBF120  index, is down nearly 50% year-to-date

($1 = 1.1714 euros)

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))