Nikkiso acquisition extends CO2 offering

The acquisition will offer Nikkiso CE&IG access to Cryotec’s carbon liquefaction and biogas expertise. While predominantly focused on the stationary market, Cryotec had some exposure to the martitime market as a supplier of small-scale skid-mounted and stationary LNG bunkering solutions.

Cryotec will operate as part of the Group’s GmbH facility, based in Neuenburg am Rhine, Germany. Cryotec will act as the Nikkiso Clean Energy and Industrial Gases Group competence and production center in Europe.

The value of the transaction, which closed on 3 February 2023, was not made public.

“Nikkiso will promote and sell globally the intelligent packaged solutions from Cryotec that reduce and recover carbon dioxide emissions, and further support the sustainability goals of the Group. Cryotec will have full access to the innovative technologies developed in California and elsewhere in the Nikkiso Group and offer localized packages, solutions, and stations for LH2 (Liquid Hydrogen) LNG (Liquefied Natural Gas), ammonia, and cryogenic energy storage applications within Germany and Europe. We will support the growth of Cryotec, by adding resources and increasing our manufacturing and assembly activities in Saxony and supplying Cryotec solutions to Germany and the global market”, according to Peter Wagner, CEO of Cryogenic Industries and President of the Group.