New green hydrogen company launched by John Cockerill and Technip Energies

Technip Energies and John Cockerill have jointly launched a new green hydrogen company named Rely, which will offer end-to-end green hydrogen solutions and take up to 10% in John Cockerill Hydrogen. Rely will be owned 60% by Technip Energies and 40% by John Cockerill, aiming to provide new technologies, technology enhancements, and improved project economics to the green hydrogen and Power-to-X (PtX) markets. Damien Eyriès from Technip Energies will be CEO of the new green hydrogen company, and Jean Jouet from John Cockerill will be CTO. The goal of Rely is to address the market for utility and industrial-scale projects and reach over €1bn ($1.1bn) in revenue by 2030.

Technip Energies will own 60% of the company and John Cockerill the other 40%.

The newly launched green hydrogen company, which has been dubbed Rely, will offer end-to-end green hydrogen solutions, including pre-final investment decision (FID) services and proprietary products, as well as project execution, operation and maintenance.

The partners hope the company will deliver improved project economics for green hydrogen markets.

John Cockerill and Technip Energies hope that the green hydrogen company, which is headquartered in Belgium, will provide multiple benefits for the green hydrogen and Power-to-X (PtX) markets. Among these benefits include delivering new technologies and products, technology enhancements, and improved project economics.

“Global ambitions demand that affordable solutions and sustainable products for industries and consumers alike must be developed,” said CEO of Technip Energies, Arnaud Pieton. “Rely will bring together a unique combination of expertise, bridging green electrons to molecules.”

The new green hydrogen company is expected to take up to 10% in John Cockerill Hydrogen.

In addition to other agreements, Rely will have a capacity reservation and supply contract for pressurized alkaline electrolyzers with John Cockerill Hydrogen, John Cockerill’s hydrogen subsidiary. As part of this agreement, it is anticipated that Rely will take as much as 10% in the subsidiary.

Rely will provide exactly what countries, industries and markets need to decarbonise entire value chains through green hydrogen,” said CEO of John Cockerill, François Michel. The CEO added,
“I am also thrilled by the acceleration in the development of John Cockerill’s network of electrolyser gigafactories that Rely will allow, which will benefit all our customers across the world.”

Green hydrogen needs to be scalable and competitive.

François Michel added that for green energy to play a significant role in the clean energy transition, it requires solutions that are robust, scalable and competitive. On top of that, the solutions must be optimized from end-to-end.

Damien Eyriès, from Technip Energies, is serving as Rely’s CEO, while Jean Jouet, from John Cockerill, is Rely’s CTO. At present, the goals of the green hydrogen company is to reach revenues of over €1bn ($1.1bn) by 2030 anf address the market for utility and industrial scale projects.

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