HENSOLDT AG acquires MAHYTEC to further strengthen its hydrogen solutions business

HENSOLDT acquires MAHYTEC to further strengthen its hydrogen solutions business

Taufkirchen / Dole, 3 March 2021 - HENSOLDT has entered into an agreement to purchase MAHYTEC, a leading manufacturer of hydrogen storage tanks and renewable energy storage systems. Once the transaction will be completed, after all the necessary approvals have been obtained, HENSOLDT will add highly innovative technologies for compressed hydrogen storage in composite tanks as well as solid storage with metal hydrides, further complementing its portfolio of solutions to produce, store, and transport hydrogen-based regenerative energy.

Thomas Müller, CEO of HENSOLDT: "Our mobile, hydrogen-based solutions secure our clients' energy supply even in difficult to access areas or in crisis situations. With the acquisition of MAHYTEC we add state-of-the-art hydrogen storage technologies, which gives us an edge to address key energy challenges of the future for our customers both in defence and non-defence markets."

Jérôme Giraud, CEO of HENSOLDT NEXEYA France: "We are very happy to welcome the employees of MAHYTEC at HENSOLDT, which we already know very well from existing partnerships. MAHYTEC features a highly innovative technology portfolio in composite tanks and solid storage, which will help us to drive sustainability in highly demanding areas such as heavy mobility and aeronautical applications."

Dominique Perreux, CEO of MAHYTEC: "We are very much looking forward to joining HENSOLDT's successful journey. MAHYTEC's leading hydrogen storage solutions and our proven experience perfectly complement HENSOLDT's product offering in that area. Together with my team we are very pleased to become members of the HENSOLDT family which we already know for a long time."

Global leading expert for hydrogen storage solutions

Founded in Dole, France, in 2007, MAHYTEC offers specialised hydrogen storage solutions for mobile, nomadic and stationary applications. The company is one of the only providers that is able to offer compressed storage in composite tanks and solid storage with metal hydrides. Moreover, MAHYTEC provides solutions that integrate the entire hydrogen value chain - from production over storage to electrical conversion. MAHYTEC is therefore positioned as the only company able to provide its clients with a complete low-pressure storage solution. HENSOLDT and MAHYTEC have partnered in the field of intelligent hydrogen to energy solutions since 2015.

Hydrogen as part of HENSOLDT's sustainability strategy

HENSOLDT also uses its capabilities to store and provide hydrogen-based green energy to reduce its own carbon footprint. Already today, one of its sites in France is running entirely on hydrogen-based energy.

The completion of the transaction is expected before summer 2021, depending on the necessary approvals by the relevant authorities.

About HENSOLDT

HENSOLDT is a German champion in the defence industry with a leading market position in Europe and global reach. The company, headquartered in Taufkirchen near Munich, develops sensor solutions for defence and security applications. As a technology leader, HENSOLDT is also continuously expanding its portfolio in cyber and developing new products to combat a wide range of threats based on innovative approaches to data management, robotics and cybersecurity. With more than 5,600 employees, HENSOLDT generated revenues of EUR 1.2 billion in 2020. HENSOLDT is listed on SDAX index of the Frankfurt Stock Exchange.

www.hensoldt.net

About MAHYTEC

MAHYTEC, is a manufacturer of hydrogen storage tanks and renewable energy storage systems, based in Dole in Jura region. Initiated by four co-founders specialized in material sciences, MAHYTEC relies on solid experience and proven know-how to offer a personalized approach to the most complex problems in the fields of energy storage and the mechanical behavior of materials. MAHYTEC helps its customers to meet their specifications and to optimize their mechanical and energy performance.

https://www.mahytec.com/fr/

Press contact HENSOLDT
Joachim Schranzhofer Tel.: +49 (0)89.51518.1823
joachim.schranzhofer@hensoldt.net