Hydrogen Refueling Solutions (HRS), a designer and manufacturer of hydrogen refuelling stations in Europe, has acquired Automatisme et Électricité Industrielle (AEI).
AEI is a specialist in automation, electricity and monitoring and its sole customer in the hydrogen sector. The acquisition is in line with HRS’s strategy of mastering its value chain by acquiring additional expertise with high added value and strengthening its competitive advantage in the hydrogen refuelling market.
The acquisition amount will be paid for in cash. The vertical integration into the production chain will make it possible for HRS to secure the know-how on a key function of the stations, accelerate the development of stations with greater capacities, and strengthen synergies to reduce the distribution costs of the stations ultimately.
Hassen Rachedi, Founder and CEO of HRS, said, “This acquisition is part of a natural process that aims to strengthen our differentiating strengths, particularly around the performance and energy efficiency of refuelling stations.”
Last month, HRS and Gaussin (a clean and intelligent freight transport company) signed a term sheet aiming to implement an exclusive partnership for the supply of 36 HRS hydrogen stations between 2021 and 2026 in the EU. HRS also undertook to subscribe to a capital increase of Gaussin for around € 7 million in cash at the unit subscription price for new shares of € 6.20. This merger between the two companies aims to work jointly to develop the hydrogen sector in Europe, where heavy mobility is expected to play a significant role in the future.