Man acquires 99% stakes in electrolyser company H-TEC
Man Energy Solutions is replacing GP Joule as the main owner of H-TEC Systems.
Germany’s MAN Energy Solutions SE is acquiring the majority of shares in the Augsburg-based electrolyser manufacturer H-TEC Systems.
Man is now increasing its share to almost 99%, where the shares will remain free float. It already acquired a 40% stake in the company in 2019, though it now acquired the shares from the previous majority shareholder, GP Joule, a renewable energies company. The value of the acquisition has not been disclosed, whereas the transaction is subject to approval by the competition authorities. GP Joule, the Schleswig-Holstein-based group, acquired H-TEC Systems in 2010.
Frank Zimmermann, spokesman for the board of management at H-TEC Systems, said, “GP Joule recognised the potential of H-TEC Systems at an early-stage and placed their trust in green hydrogen for a future with renewable energies.”
The acquisition will help Man to drive the industrialisation of electrolysis forward. It has already been completing its range across the hydrogen value chain and is aligning its business towards a range of solutions for decarbonisation.
Dr Uwe Lauber, CEO at MAN Energy Solutions, said, “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.”
Dr Lauber further added that H-TEC Systems offers electrolysers in the megawatt range, and now our goal is to prepare the company for serial production, given that green hydrogen is set to become a mass market.
H-TEC Systems was founded in 1997 and has over two decades of experience in hydrogen development and research. It produces stacks and polymer-electrolyte membrane process (PEM) based on electrolysers in Bavaria and Schleswig-Holstein.
MAN Energy Solutions is a forerunner in the Power-to-X technology market. In 2013, it commissioned the methanation reactor for Europe’s first Power-to-Gas plant on a 6 MW scale for Audi AG and since then developed PtX technology with offering a capacity of around 50 MW.
