Germany-headed energy and propulsion technology provider MAN Energy Solutions SE (previously MAN Diesel & Turbo) has recently announced that it is acquiring almost 99 percent of the shares in compatriot H-TEC SYSTEMS GmbH, a developer and manufacturer of polymer-electrolyte membrane (PEM) electrolyzers. The deal, which is subject to regulatory approval, aims to strengthen MAN Energy Solutions' position in the emerging green hydrogen economy.
According to a statement, MAN Energy Solutions is acquiring the shares of the previous majority shareholder, GP JOULE GmbH, adding to the 40 percent stake it previously took in the company in 2019. The remaining shares are currently in free float and the transaction is subject to approval by the competition authorities,
Green hydrogen is becoming an incredibly important natural resource on our journey to becoming a climate-neutral global economy. With the acquisition of H-TEC SYSTEMS, from now on we will cover all processing steps of the hydrogen economy under the umbrella of MAN Energy Solution. By doing so, we are strategically investing in our expertise as tomorrow’s provider of sustainable energy solutions and providing H-TEC SYSTEMS with complete access to our resources and sales networks at the same time. However, GP JOULE will remain an important sales partner, said Dr Uwe Lauber, CEO of MAN Energy Solutions.
Green hydrogen technology a German growth opportunity
Founded in 1997, H-TEC SYSTEMS has over 20 years of experience in hydrogen development and research. At production sites in Braak, Schleswig-Holstein and Augsburg, Bavaria, stacks, and electrolyzers in the MW-class based on the polymer-electrolyte membrane process (PEM) are developed by 60 specialists to cover the hydrogen demand for both industrial hydrogen applications and electricity conversion.
MAN Energy Solutions is also a forerunner in Power-to-X (PtX) technology, which enables green hydrogen to be converted into climate-neutral fuels. In 2013, the company commissioned the methanation reactor for Europe’s first and for a long time most powerful Power-to-Gas (PtG) plant on a 6 MW scale for Audi AG.
Since then, it has consistently developed PtX technology and offers turnkey plants with a capacity of 50 MW and more today.
In the future, green hydrogen will create many jobs in Bavaria and across Germany. We are pleased to see that two pioneers of hydrogen technology, namely MAN Energy Solutions and H-TEC SYSTEMS are rooted in Bavaria. We wish to make the state of Bavaria a leading location for hydrogen technology, commented Hubert Aiwanger, Bavarian Minister for Economic Affairs, Regional Development and Energy as well as Deputy Minister-President of Bavaria.
In the course of the transaction, the management team is strengthened by Dr Dominik Heiß, who will lead the company together with Dr Joachim Herrmann and Frank Zimmermann. Frank Zimmermann will also act as management spokesperson moving forward.
We plan to further expand the two company locations in Augsburg and Braak. Now is the time for promoting the development of PEM electrolyzers in the multi-megawatt range. This will also enable the use of the most pioneering electrolyzers on an industrial scale, said Frank Zimmermann.
At the same time, Heinrich Gärtner, GP JOULE, has announced his departure in the course of the transaction.
Our thanks go to Heinrich Gärtner who has accompanied H-TEC Systems on its journey since 2010 and helped make the company a pioneer within the hydrogen economy. Even though Heinrich is leaving the management team, we will continue to rely on the expertise and experience of GP JOULE as part of our sales partnership, ended Dr Uwe Lauber, CEO of MAN Energy Solutions.