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HoSt gears up green gas with HyGear acquisition

HoSt gears up green gas with HyGear acquisition
The Bright Renewables and HoSt Group headquarters in the Netherlands.

The Netherlands-headed bioenergy specialists HoSt Group has announced that it is expanding and bolstering its renewable gases technology portfolio with the acquisition of compatriot hydrogen technology company HyGear, a subsidiary of Canada-headed Xebec Adsorption Inc.

Founded in 2002, Arhem-based HyGear is a global leader in modular steam methane reforming (SMR) technology and electrolysis for hydrogen generation in the glass, semiconductor, food, and beverage industry, and in the transport sector – a global market leader in small-scale on-site industrial hydrogen generation systems.

Acquired in 2020 by Xebec Adsorption Inc., a global provider of clean energy solutions based in Canada, Hygear continued to pursue its mission to create a viable and readily available green hydrogen offering.

With over 50 project references worldwide, and as one of few companies with a long and proven track record in hydrogen generation, this new strategically strong combination with HoSt creates technological, expertise, and innovation synergy.

Combining these companies lead to a unification of proprietary, complementary energy technology resources, driving the decarbonization and energy transition. It establishes a fundamental knowledge base, empowerment, and pathway for the vital acceleration of renewable gases and renewable hydrogen development and deployment across different markets and geographies. It also provides us with a strong footprint in Asia through its location in Singapore, commented Jelle Klein Teeselink, CEO of HoSt Group.

Besides HoSt, the existing bondholders will have an interest in HyGear in the form of depository receipts. The value of the transaction has not been disclosed.

Clean energy harmony

In light of technological synergies, HoSt’s core portfolio is a set of carbon-neutral and carbon-negative clean energy technologies for decentralized renewable gas, renewable heat, and renewable power generation, and further includes carbon capture technology which is a compatible combination with HyGear’s SMR technology.

Renewable natural gas (RNG) or biomethane, produced from organic waste by means of anaerobic digestion and biogas upgrading, can be converted to renewable hydrogen providing hydrogen with a carbon negative footprint.

Renewable gases, that replace high-emission finite fossil fuels, and the hydrogen revolution help support a low-carbon economy and energy system.

This consolidation of technologies facilitates HyGear to accelerate the next stage of growth and enables HoSt, as a provider of a full technology suite, to offer an exclusive, comprehensive, and competitive solution across different renewable gas technologies.

At HoSt, we are thrilled and look forward to the strategic fit that amplifies the mission of both companies. Combining these companies lead to a unification of proprietary, complementary energy technology resources, driving the decarbonization and energy transition, ended Jelle Klein Teeselink.

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