Belgian company John Cockerill Hydrogen has acquired part of French energy company McPhy's assets to speed up the development of next-generation pressurized alkaline electrolyzers. Following McPhy's bankruptcy protection filing, John Cockerill secured the Belfort site, technologies, and intellectual property, ensuring the continuity of the Belfort Gigafactory and preserving 51 jobs in France. This move is expected to enhance John Cockerill's industrial presence in France, particularly in hydrogen activities in Aspach and Belfort. The acquisition is seen as a strategic step towards achieving a competitive edge in electrolysis technology for decarbonizing heavy industry. Local officials, including Senator Cedric Perrin and Mayor Damien Meslot, have lauded the acquisition for its positive impact on job security, the hydrogen sector, and the economy of Belfort. Additionally, John Cockerill's collaboration with Vietnam's Viettel Group signals further efforts towards green hydrogen production, aligning with Vietnam's energy transition goals.