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MAN takes 40% stake in hydrogen technology firm

Wednesday, 03 Apr 2019

MAN Energy Solutions has acquired a 40% holding in GP Joule Group subsidiary, H-TEC Systems, a hydrogen technology research and development company.

MAN Energy Solutions is acquiring 40% of the shares of the electrolysis technology company H-TEC Systems and is entering into the hydrogen economy which is the foundation of the power-to-X technology

GP Joule, a specialist in renewable energy and sector coupling, will retain the rest of the shares. The contract makes provisions for MAN to acquire a majority stake or make a complete takeover of H-TEC Systems in the future.
"We view this partnership with H-TEC SYSTEMS as a strategic milestone and as our entry into the hydrogen economy," said Dr Uwe Lauber, CEO of MAN Energy Solutions. "Hydrogen can be obtained from renewable energy sources in a climate-neutral fashion, and forms the basis for the production of a variety of synthetic fuels using power-to-X technology.
"These 'e-fuels', as they are known, are urgently required to bring about a change in energy policy, since they allow renewable energy sources to be used even outside of electricity grids," Lauber continued. "The production of hydrogen consequently constitutes an important interface in the coupling of the energy, transportation and heating sectors."

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