Permascand, owned by Altor, has merged with Magneto Special Anodes, formerly part of Xylem Inc., to establish a global powerhouse in catalytic coatings and electrodes. This merger integrates Permascand's Swedish base with Magneto's sites in the Netherlands and China, targeting premium markets. The focus on electrochemical advancements extends to exploring new territories like green hydrogen for industrial applications. David Ekberg, with a robust background in companies like Stora Enso and Climeon, takes the helm as CEO. While financial details remain undisclosed, the merge signifies a significant strategic move in the electrochemical sector. The merger is expected to create synergies with complementary customer bases, enabling diversified market expansion. Despite the undisclosed terms raising some investor concerns, the merger represents an exciting advancement in the field, underlining a shift towards innovative green technologies. This divestment by Xylem emphasizes a strategic shift towards core water technology solutions, aligning with evolving market demands and sustainability goals.