Germany – MAN Energy Solutions is acquiring the majority of the shares in H-TEC SYSTEMS, an electrolyzer producer based in Augsburg.
As a result, the company’s stake in H-TEC SYSTEMS has increased to about 99 percent. The purchase of the shares, which will remain in free float, has been agreed upon.
MAN Energy Solutions is acquiring the bulk of the firm’s shares. MAN Energy Solutions already owns 40% of the company. The now-completed acquisition of the shares from the former majority shareholder, GP JOULE, was previously agreed upon. The parties have agreed not to reveal the purchase price. Until today, the now-complete transaction was subject to approval by competition regulators. The purchase of the shares, which will remain in free float, has been agreed upon.
In 2010, GP JOULE, a business located in Schleswig-Holstein that operates in the renewable energy sector, purchased H-TEC SYSTEMS. MAN Energy Solutions and H-TEC SYSTEMS will propel electrolysis industrialization forward. With the acquisition, MAN Energy Solutions completes their offering across the hydrogen value chain and further aligns their business towards a variety of decarbonization solutions.