Photo: Courtesy of H-Tec Systems

MAN wraps up acquisition of H-Tec Systems for hydrogen demand

Germany’s engine manufacturer MAN Energy Solutions has completed the acquisition of the majority of shares in German hydrogen tech company H-Tec Systems, replacing GP Joule as the main owner.

MAN Energy acquires H-Tec Systems
Courtesy of H-Tec Systems

MAN Energy is increasing its share in H-Tec Systems, an electrolysis technology company, to almost 99 per cent.

The now-complete transaction was, until now, subject to approval by the competition authorities.

The acquisition of the shares has been agreed upon. The price of the acquisition has not been disclosed.

Related Article

H-Tec Systems, founded in 1997, has over 20 years of experience in hydrogen development and research. The specialists produce stacks and megawatt electrolyzers based on the polymer-electrolyte membrane process (PEM) to cover the hydrogen demand for the industry and for energy refiners.

In 2019, MAN Energy Solutions already gained a 40 per cent stake in the company. The now-completed acquisition of the shares from the previous majority shareholder, GP Joule, was already agreed upon in the past year.

GP Joule is the Schleswig-Holstein-based group that operates in the renewable energies sector. The company acquired H-Tec Systems back in 2010.

Frank Zimmermann, spokesman for the board of management at H-Tec Systems, said: GP Joule recognized the potential of H-Tec Systems at an early stage, and placed their trust in green hydrogen for a future with renewable energies. This leading-edge can be seen in our leading electrolyzers.”

MAN Energy Solutions says it has consistently developed Power-to-X technology ever since 2013, when it commissioned the methanation reactor for Europe’s first Power-to-Gas plant on a six megawatt scale for Audi AG. The company now offers turnkey plants with a capacity of 50 megawatt and more.