Saltend owner px Group acquires German hydrogen specialists LIFTE H2

Px Group, which owns the Saltend Chemicals Park in Hull, has acquired a majority stake in the German hydrogen specialists, LIFTE H2.

PX Group said the deal has the potential to accelerate the application of hydrogen technology in the UK.

LIFTE H2 works with clients across the hydrogen supply chain and its executives previously worked on hydrogen and renewable energy projects for firms such as Shell, Uniper, E.ON, RWE, Siemens Energy, and TÜV SÜD.

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In a statement, px Group added: “Px Group and LIFTE H2 share a long-term vision for the role of sustainable infrastructure in the energy sector. Today’s announcement delivers further growth into continental Europe for px Group, with the company already operating in Norway and activities being developed in the Netherlands, Germany, and Nordics.”

Px Group has acquired a majority stake in LIFTE H2, the German-based hydrogen services company. (Photo by Gary Walsh)Px Group has acquired a majority stake in LIFTE H2, the German-based hydrogen services company. (Photo by Gary Walsh)
Px Group has acquired a majority stake in LIFTE H2, the German-based hydrogen services company. (Photo by Gary Walsh)

Geoff Holmes, the 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’s Managing Director for Germany, said: “LIFTE H2 has delivered rapid growth and an excellent forward-pipeline of hydrogen projects and partnerships.

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"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 across the value chain and 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.

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"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.”

Px Group is backed by Ara Partners, a private equity company specialising in decarbonisation investments.

It manages, operates and maintains some of the UK’s largest industrial facilities, and owns the Saltend Chemicals Park on the Humber estuary.

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Px Group delivers specialist services in operations and maintenance, engineering services and energy trading across the industrial and energy infrastructure sectors.

The financial details for the deal have not been disclosed.

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