McPhy Energy secures €13.7m second round financing
Transaction managed by Clipperton Finance
Paris-London, July 2, 2010 – Clipperton Finance, a leading European corporate finance boutique focused on the High Tech and Media industries, today announced the closing of a 13.7 million round of financing for McPhy.
McPhy Energy is an innovative French company founded in January 2008 with the mission to industrialise and commercialise a new technology for the solid storage of hydrogen in the form of magnesium hydride. The company has developed an alternative solution for the on-site production of hydrogen for the industry sector and for the renewable energy sector a concrete solution to solve the issue of energy storage.
Following a 1.6m first round of financing in January 2009 from Demeter and Areva, the firm established its production line and created a reservoir of magnesium hydride that was delivered to CEA-Liten in March 2010 for testing on an industrial scale. The company is now developing a second large-capacity reservoir that will become operational during the second half of 2010. The second round of funds will allow the start-up to scale quickly, from both an industrial and commercial development point of view, by reinforcing its commercial and technical team and investing in additional production equipment. Already present in Spain and in Italy, the company also plans to open offices in Germany, Northern Europe, the Middle East and Japan.
The funding round was completed by Sofinnova Partners, Gimv and Amundi Private Equity Funds.
For this transaction, Clipperton Finance acted as Sole Manager. Thomas Neveux and Nicolas von Bülow, the Partners at Clipperton Finance in charge of the transaction, commented the new round: “We are very proud to have been able to advise the company and its management through this critical phase of McPhy’s development, and very confident that the company’s syndicate of experienced investors will be instrumental for its success.”
For more information, please contact:
Christine Duchêne, email@example.com
Tel: +33 1 48 75 47 97 / +33 6 73 82 52 00
Thomas Neveux, Partner, firstname.lastname@example.org
Nicolas Von Bülow, Partner, email@example.com
Xavier Lottin, Associate, firstname.lastname@example.org
About Clipperton Finance
Based in Paris and London, Clipperton Finance is a European corporate finance boutique dedicated to the High Tech and Media industries. Clipperton is focused on start-up and high-growth companies in the Internet, Software, Telecom, Components, CleanTech, MedTech and Media spaces, advising them in their financial transactions: fundraising/capital increases and Mergers & Acquisitions. Over the past years the company and its team have successfully structured numerous high level international transactions in the European High Tech sector.