Nextchem Maire acquires German GasConTec for €30 million

MAIRE announces that NEXTCHEM has signed a binding agreement to acquire 100% of the shares of GasConTec Gmbh (GCT), an innovative company specializing in technology development and process engineering. Founded in 2017 and headquartered in Bad Homburg, Germany, GCT has more than 80 patents and significant expertise in the synthesis of low-carbon products such as hydrogen, ammonia, methanol, olefins, gasoline and methanol/ammonia integrated processes. GCT's process engineering capabilities are also widely recognized by the industry.

In particular, the company's product portfolio includes autothermal reforming (ATR), a proven technology that produces low-carbon hydrogen with extremely high carbon capture rates. The process excels at delivering high hydrogen yields while minimizing external energy requirements, ensuring efficiency and cost-effectiveness, especially in large plants.

The total value of the agreement is approximately €30 million. The agreement provides for payments of €15 million within 2 years of closing related to specific milestones and earnings up to €15 million based on the execution and performance of certain licensing agreements related to GCT technology for a period of seven years after closing. Closing is subject to certain customary conditions precedent to such transactions and is expected to be completed in the second quarter of 2024.

Alessandro Bernini, CEO of MAIRE, commented:"The acquisition, the second so far this year, marks an important step in further strengthening NEXTCHEM's product portfolio with unique low-carbon technologies. GCT's expertise and process engineering capabilities will strongly support the development of innovative processes for the production of low-carbon chemicals and products, further strengthening MAIRE's strategic positioning as an industrial enabler of the energy transition. "