MAN Energy Replacing GP JOULE as Main Owner of H-TEC SYSTEMS
H-TEC SYSTEMSH-TEC SYSTEMS

MAN Energy Replacing GP JOULE as Main Owner of H-TEC SYSTEMS

MAN Energy Solutions is acquiring the majority of shares in the Augsburg-based electrolyzer manufacturer H-TEC SYSTEMS. The company is thereby

MAN Energy Solutions is acquiring the majority of shares in the Augsburg-based electrolyzer manufacturer H-TEC SYSTEMS. The company is thereby increasing their share in H-TEC SYSTEMS to almost 99 percent. The acquisition of the shares, which will remain held in free float, has been agreed. MAN Energy Solutions already gained a 40% stake in the company in 2019. The now-completed acquisition of the shares from the previous majority shareholder, GP JOULE, was already agreed in the past year. The parties have agreed not to disclose the price of the acquisition. The now-complete transaction was, until now, subject to approval by the competition authorities.

GP JOULE, the Schleswig-Holstein-based group which operates in the renewable energies sector, acquired H-TEC SYSTEMS in 2010. Frank Zimmermann, spokesman for the board of management at H-TEC SYSTEMS, thanked them for their successful collaboration in recent years: "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."

With the acquisition, MAN Energy Solutions is completing their range across the hydrogen value chain and is further aligning their business towards a range of solutions for decarbonization: "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," says Dr. Uwe Lauber, Chief Executive Officer at MAN Energy Solutions.

Together with the management team at H-TEC SYSTEMS, MAN Energy Solutions wants to drive forward the large-scale industrial scaling of electrolysis. "Today, H-TEC SYSTEMS offers electrolyzers 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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