NEXTCHEM to acquire 100% of GasConTec Gmbh
Published by Poppy Clements,
Assistant Editor
Hydrocarbon Engineering,
In particular, the company’s portfolio includes the autothermal reforming (ATR), a proven technology to produce low-carbon hydrogen with very high rates of carbon capture. This process excels in delivering high hydrogen yields while minimising external energy requirements, ensuring efficiencies and cost-effectiveness especially in large-scale plants
GCT is also well recognised in the industry for its process engineering competences. The company can leverage on an industrial-scale demonstration plant for high-pressure partial oxidation, located in Germany, which represents a global benchmark for the industry.
GCT’s distinctive technologies will complement NEXTCHEM’s offering in key segments, enabling mutual growth as well as enhancing MAIRE’s value proposition in energy transition industrial solutions, accelerating its commercial reach.
The agreement provides for an overall consideration of €30 million: €15 million to be paid within two years from closing linked to specific milestones; earn outs up to €15 million, based on the execution and performance of certain licensing agreements related to GCT technologies within 7 years from closing.
Closing is subject to certain conditions precedent customary for this kind of transactions and is expected in 2Q24.
Alessandro Bernini, MAIRE CEO, commented: “This acquisition, the second one so far this year, marks an important step to further strengthen NEXTCHEM’s portfolio with distinctive low-carbon technologies. GCT’s know-how and process engineering competences will strongly support the development of innovative processes for the production of low-carbon chemicals and products, further strengthening MAIRE’s strategic positioning as industrial enabler of the energy transition.”
Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/05032024/nextchem-to-acquire-100-of-gascontec-gmbh/
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