McPhy Energy widens 2014 loss to EUR 10.6m

March 11 (SeeNews) – French hydrogen storage and production solutions developer McPhy Energy (EPA:MCPHY) widened its full-year net loss to EUR 10.6 million (USD 11.3 m) in 2014 from EUR 8.5 million booked for 2013.

Revenue totalled EUR 3.2 million last year, compared with EUR 3.1 million in 2013.

Recurring operating loss swelled to EUR 10.7 million from EUR 7.9 million.

The company has EUR 19.8 million available cash and a financial debt of EUR 4.9 million.

McPhy Energy has the financial resources required to capitalise on the strong growth expected in the market for new hydrogen uses, it said.

(EUR 1 = USD 1.069)

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