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MAN Energy Solutions acquires PEM electrolyzer company H-TEC Systems

MAN Energy Solutions has acquired almost 99% of the shares in H-TEC Systems, a manufacturer of PEM electrolyzers based in Augsburg, Germany. Subject to approval by the competition authorities, MAN Energy Solutions has acquired the shares of the previous majority shareholder, GP JOULE, adding to the 40% stake it previously took in the company in 2019. The remaining shares are currently in free float.

Green hydrogen is becoming an incredibly important natural resource on our journey to becoming a climate-neutral global economy. With the acquisition of H-TEC Systems, from now on we will cover all processing steps of the hydrogen economy under the umbrella of MAN Energy Solution. By doing so, we are strategically investing in our expertise as tomorrow's provider of sustainable energy solutions and providing H-TEC Systems with complete access to our resources and sales networks at the same time. However, the current other shareholder GP JOULE will remain an important sales partner.

—Dr. Uwe Lauber, CEO of MAN Energy Solutions

H-TEC Systems was founded in 1997 and has more than 20 years of experience in hydrogen development and research. At production sites in Schleswig-Holstein and Bavaria, Germany, stacks and electrolyzers in the megawatt class are developed to cover the hydrogen demand for both industrial hydrogen applications and electricity conversion.

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 P2X technology and offers turnkey plants with a capacity of 50 MW and more today.

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