Belgian technology company John Cockerill Hydrogen has acquired part of the assets of French energy company McPhy to accelerate the development of its new generation of pressurized alkaline electrolyzers.

McPhy announced in June 2025 that it had filed for bankruptcy protection with the Commercial Court of Belfort, and John Cockerill subsequently submitted a bid to acquire part of the company’s assets, including the Belfort site, its technologies and intellectual property, as well as 51 jobs in France.