Taiyo Nippon Sanso Corporation (“TNSC”) announces investment to Ally Hi-Tech Co., Ltd. (“ALLY”), a Chinese manufacturer of hydrogen gas generators.
Acquisition Background
TNSC is pursuing expansion of gas-related technologies through M&A under its open innovation strategy under the Ortus Stage 2, medium-term management plan. In recent years, TNSC is striving to strengthen hydrogen and HyCO as one of the key gas businesses.
ALLY, established in 2000 in Sichuan China, is the company handling hydrogen generator systems. With its engineering capability, ALLY provides small-mid scale of hydrogen generators in China. The company gained its credibility with supplying consistent quality along with cost competitiveness. Their professional operation leads to the awarding of major China’s state-owned enterprises. ALLY has engaged with numerous China national projects, such as refueling system for hydrogen fuel cell vehicle at Beijing Olympic Games. Moreover, ALLY enhances its market presence in numbers of Asian countries such as Thailand, Philippines, Taiwan, Korea, and India.
TNSC and ALLY signed agreements to formalize strategic partnership between the parties. TNSC hereby expand its product portfolio by leveraging ALLY’s hydrogen generator. The aim is to capture rising demand of hydrogen onsite supply with its global sales network. Through these efforts, TNSC will secure sustainable revenue base in the key industry segments such as steel, chemical, glass. Furthermore, TNSC will also look into collaboration with ALLY in the development of high value-added hydrogen solutions, with its strong expertise in technology related to gas handling and combustion.
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