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Technip Energies and John Cockerill join for green hydrogen

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Picture of Meenal Datar

Meenal Datar

Membership specialist

Engineering and technology company, Technip Energies and mechanical engineering group, John Cockerill have announced the launch of Rely, a unique provider of integrated and competitive green hydrogen solutions.

Rely will offer end-to-end solutions, from pre-final investment decision services including technical and financial advisory through to proprietary products, project execution and operation and maintenance.

Headquartered in Belgium, Rely will be 60% owned by Technip Energies and 40% owned by John Cockerill and led by Damien Eyriès from Technip Energies as CEO and Jean Jouet from John Cockerill as CTO. From the beginning, the new company will benefit from the access of more than 200 hydrogen specialists.

Arnaud Pieton, CEO of Technip Energies, says: ‘Achieving the world’s net zero targets requires significant investment to develop and scale decarbonisation solutions. Global ambitions demand that affordable solutions and sustainable products for industries and consumers alike must be developed. Technip Energies is committed to meeting this challenge, and, together with John Cockerill, we are announcing the creation of Rely…Rely will bring together a unique combination of expertise, bridging green electrons to molecules.’

‘In order to play a large role in the energy transition, green hydrogen needs robust, scalable and competitive solutions that are optimised from end-to-end. Rely will provide exactly what countries, industries and markets need to decarbonize entire value chains through green hydrogen. I look forward to seeing its formidable development in the next few years. 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,’ adds François Michel, CEO of John Cockerill.

The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to be finalised in the second half of this year.

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