Gaztransport & Technigaz (GTT) said it is “delighted” to announce the acquisition of Areva H2Gen. It said: “This French company is specialised in the conception and assembly of electrolysers for the production of green hydrogen.”

Announcing the news, it added: “This acquisition confirms GTT’s commitment to continue to develop advanced technologies for better energy efficiency. Areva H2Gen, welcome in the GTT family!”

Areva H2Gen uses Proton Exchange Membrane (PEM) technology and is the only company to manufacture electrolysers in France.

GTT said: “This transaction enables GTT to enrich its technological portfolio with an expertise in green hydrogen, a crucial component of the energy mix for the next decades. It represents a unique opportunity to reinforce the French hydrogen sector, by combining GTT’s expertise in developing and promoting energy efficiency solutions with Areva H2Gen’s PEM electrolyser technology.”

Philippe Berterottière, chairman and CEO of GTT, said: “We are very happy to welcome Areva H2Gen, whose activity is at the heart of energy transition and perfectly fits our strategy and mission statement. The combination of our technological expertise and the cumulated experience of Areva H2Gen will allow the further development of this company and will give impulsion to the French green hydrogen sector, while creating value for our shareholders.”

Funded in cash, the transaction will have no significant impact on the Group’s financial structure.

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19th October 2020