SMS strengthens hydrogen technology following acquisition of Paul Wurth
SMS and Paul Wurth to combine research on decarbonisation and making Luxembourg a global innovation centre for hydrogen technology within the SMS group
SMS group (German multinational plant maker specialises in the metals industry) has now become the sole owner of Paul Wurth SA, acquiring the remaining 40.8% share from the Luxembourg state and state-owned banking organisations, H2 Bulletin reports.
Following taking full ownership, it has now strengthened its competence in metallurgy and hydrogen technology. SMS plans to expand the Luxembourg site to become the R&D Centre for decarbonisation and recycling within the SMS group.
Its future range of services will include:
- Hydrogen-based, CO2-free direct reduction of iron ore
- All technologies for reducing CO2 emissions in existing steel mills
- Power-To-X technologies for producing synthetic fuels and downstream products
- Expanding its portfolio across the metal industry process chain
It has also agreed with the University of Luxembourg to support scientific R&D of hydrogen technologies at the Luxembourg site. The university has already established a chair for energy process technology which Paul Wurth financially sponsored.
Paul Wurth’s real estate activities in Luxembourg will be dealt with under a new company owned by Luxembourg public shareholders and SMS.
Georges Rassel, CEO of Paul Wurth S.A., said: “Green Steel means an enormous transformation for our customers.”
Edwin Eichler, Chairman of SMS group GmbH, said: “In the coming decades, decarbonising technologies will replace the traditional blast furnaces and coking plants in integrated steel plants.”
Paul Wurth Group is Headquartered in Luxembourg and a leading player in the design and supply of the full range of technological solutions for the primary stage of integrated steelmaking.