Technip Energies and John Cockerill to Launch New Service Provider 'Rely'

Technip Energies and John Cockerill, two industrial leaders in the hydrogen market, announce the launch of Rely, a unique provider of integrated and competitive green hydrogen solutions.

Energy and heavy industries are at a major turning point. To reach Net Zero goals, these vital contributors to the global economy require massive decarbonization. Green hydrogen and its derivatives (power-to-X⁽¹⁾) will, as clean fuels, play a critical role in decarbonizing hard-to-abate and hard-to-electrify industries.

Rely will offer end-to-end solutions, from pre-Final Investment Decision services including technical & financial advisory through to proprietary products, project execution and operation and maintenance.

Rely will ensure project execution for its clients by securing the supply chain thanks notably to a capacity reservation and supply contract for pressurized alkaline electrolyzers with John Cockerill Hydrogen, a subsidiary of John Cockerill. As part of the agreement, Rely is expected to become a minority shareholder in John Cockerill Hydrogen with a 10% minority stake.

Rely will address the market for industrial and utility-scale projects with the ambition to reach revenues of more than €1 billion by 2030.

Arnaud Pieton, CEO of Technip Energies, stated: “Achieving the world’s net zero targets requires significant investment to develop and scale decarbonization 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 – a new integrated technology and solutions company for green hydrogen and power-to-X markets. Rely will bring together a unique combination of expertise, bridging green electrons to molecules.”

François Michel, CEO of John Cockerill, said: “In order to play a large role in the energy transition, green hydrogen needs robust, scalable and competitive solutions that are optimized 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 electrolyzer gigafactories that Rely will allow, which will benefit all our customers across the world.”