As a part of its strategy to further expanding its electrolysis business, plant engineering and construction specialist ThyssenKrupp Industrial Solutions has reached an agreement with De Nora, an electrochemical technologies supplier based in Milan, to establish a joint venture. The companies intend to combine their engineering, procurement and construction (EPC) activities for electrolysis plants under the name ThyssenKrupp Uhde Chlorine Engineers. This will enable both partners to expand their technological platforms and move closer to customers through an increased global presence. The planned joint venture will achieve annual sales in the mid three-digit million euro range. The agreement is subject to approval by the supervisory bodies and the relevant antitrust authorities.
Dr Joachim F Panek, CEO of ThyssenKrupp Uhde GmbH and member of the Executive Board of ThyssenKrupp Industrial Solutions AG, said, “In joining forces, we are broadening our technological development capabilities, strengthening our service business and increasing our geographical presence. We also intend to intensify our joint research into solutions for the future, such as electrolysis processes for the production of hydrogen, which can open up improved opportunities for energy storage.”
Paolo Dellacha, CEO, De Nora, added, “This planned step will take the proven cooperation between the two companies to a new level. In the future, we will be able to respond better and more quickly to customer requirements - irrespective of the technology they employ and the country in which our support is needed.”
Under an existing joint venture – Uhdenora – ThyssenKrupp Industrial Solutions and De Nora have already been cooperating for several years on licensing various electrolysis processes. The new company ThyssenKrupp Uhde Chlorine Engineers will combine the electrolysis business of the two companies under the managerial control of ThyssenKrupp Industrial Solutions, the majority shareholder, and will be consolidated in the Group. The company will be headquartered in Dortmund and represented worldwide with locations in Okayama, Tokyo, Shanghai, Milan and Houston.
Dr Joachim F Panek, CEO of ThyssenKrupp Uhde GmbH and member of the Executive Board of ThyssenKrupp Industrial Solutions AG, said, “In joining forces, we are broadening our technological development capabilities, strengthening our service business and increasing our geographical presence. We also intend to intensify our joint research into solutions for the future, such as electrolysis processes for the production of hydrogen, which can open up improved opportunities for energy storage.”
Paolo Dellacha, CEO, De Nora, added, “This planned step will take the proven cooperation between the two companies to a new level. In the future, we will be able to respond better and more quickly to customer requirements - irrespective of the technology they employ and the country in which our support is needed.”
Under an existing joint venture – Uhdenora – ThyssenKrupp Industrial Solutions and De Nora have already been cooperating for several years on licensing various electrolysis processes. The new company ThyssenKrupp Uhde Chlorine Engineers will combine the electrolysis business of the two companies under the managerial control of ThyssenKrupp Industrial Solutions, the majority shareholder, and will be consolidated in the Group. The company will be headquartered in Dortmund and represented worldwide with locations in Okayama, Tokyo, Shanghai, Milan and Houston.