Following the statement released on March 4, 2024, MAIRE (MAIRE.MI) confirms that NEXTCHEM (Sustainable Technology Solutions) has completed the acquisition of 100% ownership of GasConTec GmbH (“GCT”), a pioneering company focused on technology development and process engineering. Established in 2017, GCT is situated in Bad Homburg, Germany.

With over 80 patents and extensive proficiency in developing low-carbon products such as hydrogen, methanol, olefins, gasoline, and integrated methanol-ammonia processes, GCT possesses notable expertise. Among its offerings is the Autothermal Reforming, a widely recognized technology capable of producing low-carbon hydrogen with exceptionally high carbon capture rates. This method not only yields significant amounts of hydrogen but also minimizes external energy requirements, ensuring efficiency and cost-effectiveness, particularly for large-scale facilities. Renowned for its prowess in process engineering, the company operates a high-pressure partial oxidation demonstration plant in Germany, which stands as a global industry standard.

GCT's unique technologies will enhance and greatly bolster NEXTCHEM's product lineup in the realm of low-carbon, green, and circular solutions.

The agreement entails a total consideration of €30 million, comprising: i) €15 million to be disbursed over 2 years upon achieving designated milestones, with €5 million disbursed today; ii) potential earn-outs totaling up to €15 million, contingent upon the implementation and success of specific licensing agreements associated with GCT technologies within 7 years from the transaction's closure.

Alessandro Bernini, CEO of MAIRE, remarked, "This acquisition represents a significant milestone in NEXTCHEM's journey to enrich and broaden its unparalleled technology arsenal. GasConTec introduces innovative solutions capable of adeptly addressing both our clients' present and forthcoming decarbonization requirements, aligning with MAIRE's role as an industrial facilitator of the energy transition."

Maire Tecnimont S.p.A., a publicly traded company on the Milan Stock Exchange, leads a prominent global industrial consortium specializing in Nitrogen, Hydrogen, circular carbon, fuels, chemicals, and polymers. The company operates through Sustainable Technology Solutions and Integrated E&C Solutions. The Maire Tecnimont Group has a presence in approximately 45 countries, comprising around 50 operational entities and employing over 9,300 individuals.

GasConTec, a German-based high-tech firm, specializes in process development and global project initiatives. With an extensive portfolio of expertise, intelligence, and over 80 patents, GasConTec facilitates unique and climate-positive investments in advanced methanol, hydrogen, and ammonia production technologies.  The company offers a comprehensive range of engineering services encompassing development, support, and implementation for diverse projects. These projects span across multiple sectors, including conventional natural gas exploration and the extraction of unconventional sources such as shale gas and coal bed methane. GasConTec also specializes in handling natural gas liquids (NGLs), biogas, and industrial gases, providing expert solutions for their processing and utilization. Moreover, the company excels in managing projects involving heavy oil and other hydrocarbon feedstocks, as well as utilizing agricultural waste for sustainable purposes. Additionally, GasConTec addresses energy challenges by effectively harnessing excess electrical power, contributing to a more efficient and sustainable energy ecosystem.