Hexagon Purus ASA, a zero-emission mobility solutions provider, has entered into an agreement to acquire 100% of Wystrach GmbH, a European systems and solutions provider for the storage and transport of compressed gases.
Wystrach is a hydrogen systems provider with over 30 years’ experience in high pressure gaseous storage systems. It specializes in the design, manufacturing and assembly of hydrogen systems, including steel system structures and high-pressure piping. Wystrach is a long-standing customer of and partner to Hexagon Purus. It is a supplier within both the industrial and transportation segments, serving customers like Air Liquide, Linde, Alstom and Daimler. Wystrach, headquartered in Weeze, Germany, is privately owned by Jochen Wystrach and Wolfgang Wolter.
Hexagon Purus and Wystrach have been partners since 2008, delivering high performance hydrogen storage solutions to the market for use in applications ranging from transportation to stationary storage and refueling solutions. Strengthening its foothold in systems manufacturing and assembly has been a key pillar in Hexagon Purus’ strategic roadmap and acquiring a long-term partner and established market leader will fast-track the growth plan and sharpen Hexagon Purus’ competitive edge.
“In Hexagon Purus, we believe that progress can’t wait. Together with Wystrach, we share the ambition to lead the industry and contribute to a vision of Clean Air Everywhere,” says Morten Holum, CEO of Hexagon Purus. “By combining forces, we will have the scale and position to accelerate the transition to hydrogen and in doing so, deliver significant value to customers, shareholders and society going forward. The addition of Wystrach supports and accelerates our growth plans in three key respects. It brings highly complementary capabilities; it expands our product portfolio and it adds significant capacity needed to meet industry demand.”
“Today’s market is highly dynamic,” states Wolfgang Wolter, co-CEO of Wystrach. “It demands strong alliances and brings up new constellations. We have a long history of working with Hexagon Purus and a common understanding of the market and its opportunities. Together we make climate-friendly hydrogen applications a part of everyday life. Hexagon Purus is the right industrial owner to further strengthen Wystrach and the legacy we have built from the ground up.”
“This combination is a great fit from both a cultural perspective and from a segment expertise and customer perspective,” mentions Michael Kleschinski, EVP of Hexagon Purus. “It strengthens our offering and gives us the capacity and additional expertise to support customers in their transition to sustainable energy. I have great respect for what the team at Wystrach has accomplished under the leadership of Wolfgang Wolter and Jochen Wystrach. I look forward to combining our employees’ skills and industry expertise to become THE provider of turn-key hydrogen solutions in the industry.”