MAN Energy Solutions has acquired the majority of shares in the Augsburg-based electrolyser manufacturer H-TEC Systems. Its shareholding has been increased to almost 99 %. The acquisition of the shares, which will remain held in free float, has been agreed.
MAN had already acquired a 40% stake in the company, in 2019. The acquisition of shares from the previous majority shareholder, GP Joule, was agreed during the last year. The parties have agreed not to disclose the price. The now-complete transaction was, until now, subject to approval by the competition authorities.
With the acquisition, MAN is completing its range across the hydrogen value chain and is further aligning its business towards a range of solutions for decarbonisation: "Starting with extraction and transport, right through to the use of climate-neutral energy, we offer our customers solutions for using green hydrogen, and are therefore strongly positioned in one of the most important future markets," said Dr Uwe Lauber, CEO of MAN Energy Solutions.
Together with the management team at H-TEC Systems, MAN wants to drive forward the large-scale industrialisation of electrolysis. "Today, H-TEC SYSTEMS offers electrolysers in the megawatt range," says Lauber. "The objective now is to prepare the company for serial production because green hydrogen is going to become a mass market."
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