NextChem Enlarges Hydrogen, Ammonia, and Methanol Portfolio with Latest Acquisition

NextChem, a subsidiary of the international industrial group Maire Tecnimont S.p.A, has solidified a binding agreement to acquire GasConTec (GCT), a Germany-based company specialized in technology development and process engineering. This strategic move aims to broaden NextChem's expertise in low-carbon hydrogen, ammonia, and methanol, amplifying its capabilities in these critical sectors.

Established in 2017, GasConTec boasts a robust portfolio comprising over 80 patents focusing on the synthesis of low-carbon products, including hydrogen, ammonia, methanol, olefins, gasoline, and integrated methanol/ammonia processes. Notably, the company's repertoire features autothermal reforming (ATR), an innovative technology renowned for its capacity to produce low-carbon hydrogen while achieving exceptionally high rates of carbon capture.

By incorporating GasConTec and its cutting-edge technologies, NextChem aims to complement its existing offerings across key segments. This collaboration is anticipated to foster mutual growth, bolstering Maire Tecnimont's value proposition in energy transition industrial solutions and expediting its commercial outreach.

The agreement stipulates an overall consideration of €30 million, subject to customary conditions precedent typical for transactions of this nature. Closing is anticipated to occur in the second quarter of 2024, contingent upon the fulfillment of these conditions, as elucidated by NextChem. This acquisition, marking the second transaction of its kind this year, represents a pivotal stride in augmenting NextChem's portfolio with distinctive low-carbon technologies.

The acquisition of GCT underscores NextChem's commitment to advancing innovative processes for the production of low-carbon chemicals and products. GCT's expertise in process engineering will significantly bolster the development of pioneering solutions, further reinforcing Maire Tecnimont's strategic positioning as an industrial enabler of the energy transition.

In a noteworthy development in 2022, NextChem secured a €194 million grant for the establishment of a waste-to-hydrogen plant as part of the IPCEI Hy2Use project. This ambitious initiative aims to construct a cutting-edge facility capable of producing up to 20,000 tons of hydrogen annually at full capacity, leveraging 200,000 tons per year of non-recyclable solid waste as its primary raw material.

NEXTCHEM, a subsidiary of MAIRE, is committed to Sustainable Technology Solutions. Drawing upon extensive knowledge in nitrogen, hydrogen, carbon capture, fuels, chemicals, and polymers, it pioneer innovative solutions and processes that facilitate the energy transition. Building upon group's illustrious heritage since the 1970s, this company ais dedicated to the advancement and provision of technology solutions, processes, fundamental engineering designs, as well as proprietary equipment and catalysts, to propel global decarbonization endeavors forward. The solutions company provide capitalize on the business synergies and cross-collaborative opportunities inherent within their group, harnessing the specialized expertise of each of their companies.