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Stockton’s px Group swoops for German hydrogen engineering specialist

Industrial infrastructure firm px Group has acquired German hydrogen engineering specialist Lifte H2 in an undisclosed deal.

The Stockton-based asset manager for the energy and high hazard industrial sectors, which owns Saltend Chemicals Park and Teesside Gas Processing Plant amongst other sites, has taken a majority stake in Berlin-based Lifte which provides engineering services across the hydrogen supply chain from production to use in sectors like heavy transport.

Lifte’s executives and engineers are said to bring substantial experience in working with hydrogen technology having previously played a part in projects for global names such as Shell, RWE and Siemens Energy. The two firms say they share a vision for sustainable infrastructure in the energy sector and px says there is potential to bring the German operator’s expertise to the UK.

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The deal means px and Lifte now have a combined workforce of 250 engineers for hydrogen and energy transition projects. And for px, it is an expansion of its European business which also includes the Risavika Liquefaction Plant in Norway, and plans elsewhere in the Nordics as well as the Netherlands and Germany.

Geoff Holmes, CEO of px Group, added: “Lifte H2’s ambitious team has built an industry-renowned and industry-trusted business from scratch. Its commitment to a safe, simple and affordable solutions fits closely with px Group’s commitments, and we’re looking forward to growing together.”

Murat Aydemir, px Group managing director for Germany, said: “Lifte H2 has delivered rapid growth and an excellent forward-pipeline of hydrogen projects and partnerships. With px engineering and Lifte H2 together, we look forward to delivering engineering solutions to support even more hydrogen and energy transition projects.

“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.”

Paul Karzel, managing director at Lifte H2, added: “ We’re excited to partner with px Group. Our complementary strengths will help us to deliver more and, in addition to our current portfolio, larger projects in hydrogen. 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.”

Original artice – https://business-live.co.uk/all-about/yorkshire-humber

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