Sofinnova invests £11.3m in McPhy Energy

Acting as leading investor, venture capital firm Sofinnova Partners, along with Gimv and Amundi Private Equity Funds, has announced its investment in hydrogen storage technology company McPhy Energy, in a second round of funding worth €13.7m (£11.3m).

The funds will be used towards the global expansion of McPhy Energy and the further industrialisation and commercialisation of its products.