German fuel-cell specialist SFC Energy AG has announced its agreement to acquire selected assets from the Scandinavian small stationary hydrogen fuel cell business of Ballard Power Europe Systems A/S, a subsidiary of Canada's Ballard Power Systems.
The assets will be purchased by SFC's newly formed Danish subsidiary, SFC Energy Denmark ApS, for a low single-digit million euro amount.
The acquisition encompasses various assets, including intellectual property rights, a customer base, and maintenance contracts. Through this deal, SFC will gain two hydrogen fuel cell solutions with outputs of 1.7 kW and 5 kW, thereby expanding its power range. Additionally, the company will assume part of BPSE's workforce.
The newly acquired operations are projected to generate medium single-digit million euros in revenue and are expected to positively impact SFC's earnings before interest and tax (EBIT) and earnings before interest, tax, depreciation, and amortisation (EBITDA) starting in 2025.
The transaction is subject to regulatory approvals and is anticipated to close within 2024. This acquisition aligns with SFC's growth strategy, which emphasizes international expansion, technology development, and complementary mergers and acquisitions.
