ship.energy

GTT buys French PEM electrolyser company

Areva H2Gen uses Proton Exchange Membrane (PEM) technology in the manufacture of electrolysers for the production of green hydrogen.

Mainly produced by water electrolysis with renewable electricity, green hydrogen represents one of the levers to accelerate the transition towards carbon neutrality and the acquisition will enable GTT to add a new energy solution to its product portfolio.

Announcing the purchase of Areva H2Gen, which is the only company in France to manufacture electrolysers, GTT said that the transaction had been funded in cash and would have no significant impact on the group’s financial structure.

Philippe Berterottière, Chairman and CEO of GTT, commented: ‘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.’

Lesley Bankes-Hughes

Lesley Bankes-Hughes