News

2020 October 19 14:11

GTT announces the acquisition of Areva H2Gen

GTT announces the acquisition of Areva H2Gen, a French company leader in PEM electrolysis. Specialised in the conception and assembly of electrolysers for the production of green hydrogen, Areva H2Gen is using Proton Exchange Membrane (PEM) technology and is the only company to manufacture electrolysers in France, the company said in its release.

Mainly produced by water electrolysis with renewable electricity, green hydrogen represents one of the levers for the future to accelerate the transition towards carbon neutrality. There are numerous applications: industrial (refinery, agro-food, electronics…), but also mobility (supply of hydrogen vehicles) and energy storage in particular for renewable energies.

The green hydrogen market is now expanding rapidly, notably driven by major energy companies who want to make their energy production greener and by numerous national development plans, as well as a European plan announced in July 2020.

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. Its 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.

The acquisition of Areva H2Gen confirms GTT's commitment to continue to develop advanced technologies for better energy efficiency.

GTT reaffirmed this strategic direction when adopting its mission statement, set out in its bylaws in June 2020. The acquisition fully matches GTT’s development strategy, which is based on growth drivers allowing it to leverage its technological expertise and its knowledge of energy production and transportation players.

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