NEXTCHEM (MAIRE) Finalizes Acquisition of HyDEP and Dragoni Group

Following the announcement on February 21, 2024, MAIRE (MAIRE.MI) announces that NEXTCHEM (Sustainable Technology Solutions) has completed the acquisition of 80% of HyDEP S.r.l. and 100% of Dragoni Group S.r.l. through its subsidiary NextChem Tech.

HyDEP and Dragoni Group, situated in Italy, are esteemed engineering service firms with a focus on the mechanical and electrochemical domains. With more than twenty years of expertise in green hydrogen technology, which includes patented advancements, both entities demonstrate strong capabilities in process design. Their comprehensive service portfolio encompasses a wide array of offerings, spanning from process and mechanical design to validation, prototyping, and certification of water electrolysis, stacks, and systems.

NEXTCHEM will integrate its technological expertise with the electrochemical competencies of HyDEP and Dragoni Group to create and deploy its exclusive solutions for green hydrogen production. Additionally, HyDEP's proficiency in designing and producing small-scale water electrolysis systems will aid in establishing a hydrogen-based retail network, facilitating the decarbonization efforts of small to medium-sized enterprises and the mobility sector.

Founders Mario and Matteo Dragoni will continue to be engaged in the management of the companies, ensuring that they retain autonomous operations within their respective markets.

The acquisition cost for both stakes totals approximately €3.6 million, paid in advance. Additionally, the agreement includes an earn-out clause contingent upon the fulfillment of technical objectives within 30 months of closure. Furthermore, there are put and call options available for the remaining 20% stake in HyDEP, exercisable within 36 months of closure.

NEXTCHEM, MAIRE's subsidiary focused on Sustainable Technology Solutions, harnesses the company's extensive expertise in nitrogen, hydrogen, carbon capture, fuels, chemicals, and polymers. Through this knowledge base, NextChem delivers innovative solutions and processes that facilitate the energy transition comprehensively. Building upon the esteemed legacy of the company group since the 1970s, NextChem is committed to advancing global decarbonization efforts by developing and providing technology solutions, processes, basic engineering designs, as well as proprietary equipment and catalysts. NextChem's solutions leverage the business synergies and cross-fertilization opportunities within its group, tapping into the specialized skills of all its constituent companies. NextChem actively contributes to driving change to leave a positive impact on the planet and future generations.

Maire Tecnimont S.p.A., listed on the Milan Stock Exchange, leads a prominent international industrial group involved in Nitrogen, Hydrogen, circular carbon, fuels, chemicals, and polymers. The company specializes in Sustainable Technology Solutions and Integrated E&C Solutions. With a global presence spanning approximately 45 countries, the Maire Tecnimont Group comprises around 50 operating companies and employs over 9,300 individuals.