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30-04-2024

NextChem acquire HyDEP and Dragoni Group

Maire Tecnimont Spa announced Tuesday that NextChem, through its subsidiary NextChem Tech, has finalized the acquisition of 80 percent of HyDEP Srl and 100 percent of Dragoni Group Srl.

The transaction price is approximately EUR3.6 million, paid in advance. The agreement also includes an earn-out clause based on the achievement of technical targets within 30 months of closing, as well as put and call options on the remaining 20% share of HyDEP exercisable within 36 months of closing.

Based in Italy, HyDEP and the Dragoni Group, are well-known engineering services companies in the mechanical and electrochemical sectors. "With more than two decades of experience in green hydrogen technology, both companies have strong technology patenting and process design capabilities," Maire points out in a note. "Their services encompass a broad spectrum, ranging from mechanical and process design to prototyping and certification of water electrolysis stacks and related boundary systems.

NextChem will combine its technological know-how with HyDEP and Dragoni Group's expertise in electrochemistry to develop and implement proprietary solutions for green hydrogen production. In addition, HyDEP's expertise in the design and production of small-scale electrolysis systems will contribute to the development of distributed green hydrogen production capacity to support the decarbonization of small and medium-sized enterprises and mobility.

Founders Mario and Matteo Dragoni will still be involved in the management of HyDep and Dragoni Group, which will maintain independent activities in their respective markets.

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