Green Hydrogen: MAN Energy Solutions Increases Stake in PEM Electrolyser Producer H-TEC Systems

Advanced engineering solutions provider MAN Energy Solutions increased its stake up to 99 per cent in H-TEC Systems, a developer and producer of innovative PEM electrolyzers and electrolysis stacks. In this regard, the acquisition of shares, which will remain held in free float, has been agreed upon, subject to customary closing conditions.

Earlier in 2019, MAN already acquired 40 per cent stake in H-TEC. The company has now completed the acquisition of shares from the previous majority shareholder, GP Joule. However, the price of the acquisition has not been disclosed by the company.

GP Joule, the Schleswig-Holstein-based group which operates in the renewable energies sector, acquired H-TEC Systems in 2010.

Commenting on the development, 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 has been completing their range across the hydrogen value chain and is further aligning their business towards a range of solutions for decarbonisation.

“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,” said Dr. Uwe Lauber, CEO at MAN Energy Solutions.

Together with the management team at H-TEC, MAN Energy is planning to drive forward the large-scale industrial scaling of electrolysis.

“Today, H-TEC Systems offers electrolyzers in the megawatt range,” added Dr. Lauber.

He further said “the objective now is to prepare the company for serial production because green hydrogen is going to become a mass market.”

H-TEC Systems, founded in 1997, has over 20 years of experience in hydrogen development and research. The specialists in locations such as Bavaria and Schleswig-Holstein produce stacks and megawatt electrolyzers based on the polymer-electrolyte membrane process (PEM) to cover the hydrogen demand for industry as well as for energy refiners. The H-TEC Systems electrolyzers already make effective sector coupling possible today.

Meanwhile, MAN Energy Solutions is also a forerunner in Power-to-X 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 plant on a 6 MW scale for Audi AG. Since then, MAN has consistently developed PtX technology and offers turnkey plants with a capacity of 50 MW and more today.