Hydrogen Refueling Solutions – Acquisition of AEI: Integration of the strategic supplier of automated systems for HRS stations.
HRS, designer and manufacturer, European leader in hydrogen refueling stations, announces the acquisition of AEI – Automatisme et Électricité Industrielle – specialist in automation, electricity and monitoring and historical partner of HRS which is the only customer in the field of hydrogen.
This acquisition is perfectly in line with HRS’ strategy to control its value chain by acquiring complementary expertise with high added value, in order to internalize and continue to develop the key functions of its stations to strengthen its competitive advantage and thus offer its customers ever more innovative and efficient hydrogen mobility solutions.
AEI, equipment supplier of station automation since 2015, has indeed designed, in partnership with HRS’R&D teams, a tailor-made automated system of the latest generation, a real “computerized brain” allowing the safe control and operation of HRSstations. This solution manages all cybersecurity and allows remote analysis of installations.
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Created in 1988, AEI, a company based near Grenoble, now employs 17 employees, mainly engineers, who will be integrated into HRS’ new Champagnier site upon its final reception in 2023.
AEI generated revenue of €1.8 million in 2020, nearly half of which came from HRS,the balance coming from the company’s other activities carried out for third parties, including industrial electricity, which will be continued after the acquisition.
This vertical integration into the production chain will make it possible both to secure know-how on a key function of the stations, to accelerate the development of stations with larger capacities and to strengthen synergies to ultimately reduce hydrogen distribution costs.
HRS is thus pursuing the development and structuring of the hydrogen sector to accelerate the deployment of the infrastructures necessary for the transition from mobility to clean and environmentally friendly energies.
The acquisition will be paid in cash, in line with HRS’ development plan announced at the time of its IPO, where 20% of the funds raised were dedicated to external growth.
Hassen Rachedi, Founder and Chief Executive Officer, said:
We are delighted to welcome the AEI teams to HRS, which we already know very well.
“We have been collaborating for several years, which has allowed us to capitalize on the synergies resulting from our complementary expertise in the development of our offer of new generation stations.”
“This acquisition is part of a natural approach that aims to strengthen our differentiating assets, particularly around the performance and energy efficiency of refuelling stations.”
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Acquisition de AEI : Intégration du fournisseur stratégique des systèmes automatisés des stations HRS, Grenoble, October 26, 2021
