John Cockerill, an industrial equipment company, has announced a new agreement to secure €230 million (USD$250 million) for its subsidiary, John Cockerill Hydrogen. The deal, spearheaded by energy services and technology firm SLB and Belgian public investment bodies SFPIM and Wallonie Entreprendre, aims to speed up the deployment of the company’s electrolyzer technology, which is crucial for green hydrogen production.
Hydrogen is considered a vital component in transitioning to a cleaner energy future, especially for industries with emissions that are hard to reduce through conventional renewable energy sources like wind or solar. Developing clean hydrogen, particularly green hydrogen, which utilizes renewable energy to separate hydrogen from other substances, requires substantial investment in infrastructure, electrolysis, transport, and storage.
John Cockerill Hydrogen provides efficient solutions for green hydrogen production, including its advanced alkaline electrolyzer technology. The company has supplied 1,300 electrolyzers across more than 30 countries. Its 5 MW single stack pressurized electrolyzer, the largest in the market, offers low capital and operating costs, and a complete 30 MW pressurized alkaline electrolyzer system. Additionally, John Cockerill provides hydrogen refueling stations, integrated mobility solutions, and technology for electrolyzer project developers.
The funds raised will support John Cockerill’s strategy to expand its global footprint by establishing gigafactories in key locations and building electrolyzer production and service centers in the USA, India, and the UAE. The company is also exploring similar ventures with partners in Morocco and Vietnam.
The investment will facilitate a strategic partnership between John Cockerill and SLB, focusing on the rapid global development and production of John Cockerill Hydrogen’s next-generation pressurized alkaline electrolyzers.
Despite the new investment, John Cockerill will retain a significant majority stake in John Cockerill Hydrogen.
