Hitachi Zosen Inova Acquires Business of ETOGAS GmbH
Swiss company Hitachi Zosen Inova (HZI) is supplementing its renewable energy activities by acquiring the business of ETOGAS GmbH. Following the acquisitions of Kompogas® and BioMethan, this marks a further consistent step in the field of sustainable energy recovery and utlilisation.
On October 21st 2016, Hitachi Zosen Inova AG acquired the assets of Stuttgart-based ETOGAS GmbH. The business operations, employees, patents, property rights, expertise, and related assets acquired, will be transferred to the newly established Hitachi Zosen Inova Etogas GmbH, based in Stuttgart.
With the acquisition of the ETOGAS Power-to-Gas (PtG) technology, the Swiss company supplements its existing offering in the areas of thermal and biological energy-from-waste recovery and biomethane upgrading by adding a further product to their portfolio. Going forward, HZI will open up new possibilities for the technology to enter international markets.
Investment in a Sustainable Energy Industry
The developments in the energy sector call for flexible solutions to constantly and permanently ensure uninterrupted power supply and grid stability. The ETOGAS technology addresses these requirements by converting electricity into hydrogen using pressure electrolysis and methanation. By adding CO2 from biogas plants, the hydrogen is converted into carbon-neutral synthetic natural gas (SNG), which is fed into the existing natural gas grid. Volatile renewable energy is thus converted and made storable and transportable. SNG is used as sustainable energy in areas such as individual mobility, households, and industry.
Alternative energy sources are becoming increasingly significant amid the global trend of energy transition. “With the acquisition of ETOGAS, we are addressing this trend and setting a further milestone in the renewable energy supply sector,” said HZI CEO Franz-Josef Mengede. “HZI’s acquisition of ETOGAS once again demonstrates our commitment to finding sustainable solutions,” he added. “The ETOGAS technology serves as a key component in the energy transition process. We are convinced that with the construction of the Audi e-gas facility in Werlte, we have made an investment in the energy supply of the future,” said Reiner Mangold, Head of Sustainable Product Development at Audi AG.
Expanded Customer Base
With over 80 years’ experience in plant construction and more than 600 reference projects worldwide, HZI is one of the leading providers of complete turnkey energy-from-waste plants. The acquisition of the market leader ETOGAS will enable HZI to offer complete solutions for alternative energy recovery and utilization, while at the same time exploiting synergies with HZI BioMethan for methanation to the benefit of customers. “We are proud to be taking the ETOGAS activities forward, and to open up possibilities for this leading technology to develop internationally. Thanks to our wealth of experience in plant construction, we can also offer our customers the security they need with regard to having their projects delivered on budget and on time, and with the technological expertise and safety they expect,” said Franz-Josef Mengede. “Considering our parent company’s existing technology portfolio, which among others includes the electrolyzer and catalyst technologies, we believe this acquisition accelerates the group synergies in PtG business.” he adds.
The sale was made for strategic reasons. As a start-up firm, ETOGAS was able to establish primarily in the German market. International markets, however, have remained largely untapped. HZI as parent company will provide the necessary marketing, distribution network and other synergies for entering these markets. This takeover will also ensure the continuation of the ETOGAS location in Stuttgart. “We are convinced that the technological and specialist expertise of ETOGAS will be developed further as part of HZI, and that it will continue to grow as a key area of the company,” stressed ETOGAS founder Gregor Waldstein.
ETOGAS employees were informed of the current situation and the next steps at a special information event.
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