EMEA News
GTT Acquires French Hydrogen Producer
French technology company GTT has bought fellow tech firm Areva H2Gen for cash.
Areva H2Gen produces 'green hydrogen' using electrolysers that produce the gas via water electrolysis using renewable electricity.
"The green hydrogen market is now expanding rapidly, notably driven by major energy companies who want to make their energy production greener and by numerous national development plans, as well as a European plan announced in July 2020," GTT said in a statement.
The move is in line with GTT strategic expansion plans.
Combining GTT's technological expertise with the experience of Areva H2Gen [in green hydrogen production] "will allow the further development of this company and will give impulsion to the French green hydrogen sector", GTT chairman and chief executive Philippe Berterottiere said.
Hydrogen is one of a number of new bunker fuels that are gaining ground as viable alternatives to oil-based marine fuel.
