John Cockerill Hydrogen raises EUR 230 mn for electrolyzer strategy expansion

John Cockerill Hydrogen, a subsidiary of John Cockerill, is drumming up a capital increase of EUR 230 mn to expand the deployment of its electrolyzers strategy, according to a statement. The funding round includes investments from global energy technology company SLB, Belgian public investment institutions SFPIM, and Wallonie Entreprendre. Fundraising is slated for completion by the end of June 2024 and the funds will help support the establishment of gigafactories worldwide among other initiatives.

The company’s been busy in the region: John Cockerill signed an agreement last year with an unnamed Moroccan energy company to develop a value chain dedicated to undertaking green hydrogen projects in Morocco. The company was also exploring cooperation agreements with Algeria’s Sonelgaz on green hydrogen, wind turbines' maintenance, and storage in December. The Belgian group signed an agreement with UAE's Adnoc in June to manufacture hydrogen electrolyzers for local use in the UAE and export.

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