OPW Acquires Hydrogen-Focused Demaco to Enhance Clean Energy Solutions
Key Ideas
- OPW, based in Ohio, acquires Netherlands-based Demaco, a hydrogen-focused cryogenic equipment firm, to bolster its clean energy solutions business unit.
- The acquisition is part of OPW's expansion strategy to meet global clean energy market demands, with a focus on enhancing capabilities and broadening product offerings.
- OPW aims to leverage Demaco's expertise in cryogenic components and systems, particularly in the hydrogen sector, to grow beyond existing capacity and serve a wider customer base.
- The acquisition of Demaco follows OPW's previous acquisitions of ACME Cryogenics and RegO® Production in December 2021, marking a significant milestone in its expansion plans.
Ohio-based OPW has completed the acquisition of Demaco, a Dutch company specializing in hydrogen-focused cryogenic equipment. This acquisition is a key move within OPW's Clean Energy Solutions (CES) business unit, aligning with the company's goal to expand its offerings to meet the increasing demands of the global clean energy market. The President of OPW, Kevin Long, emphasized that this acquisition will enhance the firm's capabilities and product range. Demaco, established in 1960, is recognized for its design, manufacturing, and installation of cryogenic components and systems, with a particular emphasis on hydrogen applications. OPW views Demaco's products as highly complementary to its existing portfolio and aims to leverage this synergy to cater to a broader customer base. The undisclosed acquisition cost signifies the strategic importance OPW places on strengthening its presence in the clean energy sector. By incorporating Demaco into its operations, OPW anticipates significant growth beyond its current capacity. This acquisition comes on the heels of OPW's recent buyouts of ACME Cryogenics and RegO® Production in December 2021, showcasing the company's commitment to growth and innovation in the clean energy industry. The article also hints at potential future announcements from OPW, indicating ongoing developments in the clean energy solutions space.