UK gas infrastructure manager px Group has acquired a majority stake in German hydrogen firm LIFTE H2.
px Group said the deal marks the beginning of its growth ambitions in Europe, with LIFTE’s track record including hydrogen and renewable energy projects for firms including Shell, Uniper, E.ON, Siemens Energy and TUV SUD.
Germany is a major market for hydrogen, with targets to rapidly increase use of the fuel vector in order to displace reliance on Russia for its oil and gas in the wake of the invasion of Ukraine.
Last week the county’s ruling coalition agreed a financing mechanism to build the Germany’s future hydrogen network by 2037 in order to displace natural gas.
Murat Aydemir, px Group’s Managing Director for Germany, said: “Germany has one of the most – if not the most – developed hydrogen economies in Europe and is a leader in hydrogen transport infrastructure. However, the barriers to entry for Hydrogen in Europe remain too high right across the value chain and right across the continent. LIFTE H2’s solution, which directly enables more investment into hydrogen, is compelling and proven.”
Described as a “one-stop shop” for hydrogen engineering, LIFTE solutions guides customers from generation via electrolysis to end use such as through heavy transport.
px Group, which is backed by private equity firm Ara Partners, runs several North Sea oil and gas infrastructure assets, such as the St Fergus gas terminal on behalf of North Sea Midstream Partners, and px’ owned Saltend facility.
The firm has been eyeing green hydrogen moves for some time, including through a partnership with UK renewables developer Cerulean Winds in 2021 for a potential project for sites in Britain.
CEO Geoff Holmes said: “We are thrilled to announce this exciting acquisition in an exciting area of energy.
“This deal fits perfectly with many of the key pillars of our business strategy: it delivers growth in Europe for px Group and reaffirms our commitment to decarbonisation projects.”
Paul Karzel, managing director at LIFTE H2, added: “This strategic alliance enhances the engineering capabilities of both sides in a complimentary way and unlocks resource efficiency in non-engineering related areas.
“Together, we’re here to make hydrogen projects happen, building on and enhancing what we have already done at LIFTE H2.
“With px Group’s experience in designing, operating and maintaining large process plants, and LIFTE H2’s in-depth hydrogen expertise, we form a dynamic alliance that will invigorate the hydrogen industry.”
