Accelerating hydrogen mobility across Europe
Atawey is leading the charge in hydrogen mobility, recently securing €22 million in funding to expand hydrogen infrastructure across Europe thanks to the support of Societe Generale, who acted as co-advisor on this equity raise.
Hydrogen's role in mobility
There is a pressing need to decarbonize heavy-duty transport and develop sovereign industrial capabilities. As the energy landscape rapidly evolves, hydrogen has emerged as a crucial player in the pursuit of low-carbon mobility. It is increasingly recognized as a clean and versatile energy source, particularly for heavy-duty vehicles that demand high energy density and rapid refueling times. Unlike battery electric vehicles, hydrogen fuel cell technology offers longer ranges and shorter refueling durations, making it an appealing option for logistics and public transportation sectors. Despite its potential, the hydrogen sector faces challenges such as infrastructure development and market adoption. While growth in the hydrogen market has lagged behind expectations, investor confidence remains robust for companies able to translate their tech and industrial know how in top line growth.
Atawey, a leading specialist in hydrogen refueling stations, announced a significant equity raise of €22 million, a positive development in this sector. With backing from key stakeholders, including Starquest, Armor group and the French State through the France 2030 program, Atawey is poised to overcome existing hurdles and expedite the deployment of hydrogen infrastructure across Europe.
Atawey's strategic projects for growth
Atawey made a strategic acquisition of McPhy’s hydrogen station business in 2024, which has enhanced the company's operational capabilities.
The recent funding round will primarily support Atawey's ambitious plans to scale operations across Europe.
Additionally, investments will focus on upgrading the company's industrial sites in Chambéry and Grenoble (France), thereby enhancing production capacity to meet rising demand.
Atawey is well-positioned to accelerate the deployment of hydrogen refueling stations across Europe, contributing to the decarbonization of heavy-duty transport.
Societe Generale: driving growth in the hydrogen mobility sector
Societe Generale has been instrumental in facilitating Atawey's growth trajectory. The bank has acted as the exclusive advisor for the acquisition of McPhy’s hydrogen stations business and as co-advisor for the recent equity raise.
These transactions highlight the impact of Societe Generale and InnoEnergy partnership to accelerate the successful launch of new industrial champions in energy transition since InnoEnergy is an early and active investor of the company.
This collaboration aligns with a broader strategic vision, as Societe Generale consistently supports key clients in the hydrogen and mobility sectors. The bank's track record includes notable transactions such as GravitHy’s funding, Stellantis’ acquisition of a stake in Symbio, and the IPOs of Thyssenkrupp Nucera and HRS.
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