Technology Leader HoSt Group acquires on-site Hydrogen Generation Specialist HyGear
HyGear - a global leader in hydrogen generation
HyGear, founded in 2002, is a global leader in modular steam methane reforming (SMR) technology and electrolysis for hydrogen generation in the glass, semiconductor, food and beverage industry, and in the transport sector. Acquired in 2020 by Xebec Adsorption Inc., a global provider of clean energy solutions based in Canada, Hygear continued to pursue its mission to create a viable and readily available green hydrogen offering. With over 50 project references worldwide, and as one of few companies with a long and proven track record in hydrogen generation, this new strategically strong combination with HoSt creates technological, expertise, and innovation synergy. Besides HoSt, the existing bondholders will have an interest in HyGear in the form of depository receipts.
Clean energy harmony
Jelle Klein Teeselink, CEO at HoSt Group comments: “Combining these companies lead to a unification of proprietary, complementary energy technology resources, driving the decarbonization and energy transition. It establishes a fundamental knowledge base, empowerment, and pathway for the vital acceleration of renewable gases and renewable hydrogen development and deployment across different markets and geographies. It also provides us with a strong footprint in Asia through their location in Singapore. At HoSt, we are thrilled and look forward to the strategic fit that amplifies the mission of both companies.”
In the light of technological synergies, HoSt’s core portfolio is a set of carbon-neutral and carbon-negative clean energy technologies for decentralized renewable gas, renewable heat, and renewable power generation, and further includes carbon capture technology which is a compatible combination with HyGear’s SMR technology. Renewable natural gas, produced from organic waste by means of anaerobic digestion and biogas upgrading, can be converted to renewable hydrogen providing hydrogen with a carbon negative footprint. Renewable gases, that replace high-emission finite fossil fuels, and the hydrogen revolution help support a low-carbon economy and energy system.