New acquisition expands NextChem’s hydrogen, ammonia, and methanol portfolio

NextChem, a subsidiary of an international industrial group Maire Tecnimont S.p.A, has entered into a binding agreement to acquire 100% of Germany-based GasConTec (GCT), a company specialized in technology development and process engineering, expanding its competencies in low-carbon hydrogen, ammonia, and methanol.

GCT was founded in 2017 and owns over 80 patents in the synthesis of low-carbon products such as hydrogen, ammonia, methanol, olefins, gasoline, and integrated methanol/ammonia processes.

In particular, the company’s portfolio includes auto thermal reforming (ATR), a technology for producing low-carbon hydrogen with very high rates of carbon capture.

With the acquisition of GCT and its technologies, NextChem aims to complement its 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.

Closing is subject to certain conditions precedent customary for this kind of transaction and is expected in the second quarter of 2024, NextChem explained.

Alessandro Bernini, MAIRE CEO, said: “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.”

In 2022, NextChem was awarded a €194 million grant for the development of a waste-to-hydrogen plant as part of the IPCEI Hy2Use project.

The project aims to develop a waste-to-hydrogen plant that will produce up to 20,000 tons of hydrogen annually at full capacity, using 200,000 tons per year of non-recyclable solid waste as raw material.