Bird & Bird Facilitates HD Hydrogen's Acquisition of Majority Stake in Convion
Key Ideas
  • Finnish firm Convion, specializing in SOFC and SOEC products, received a 72 million euro investment from HD Hydrogen.
  • The investment aims to bolster HD Hydrogen's position in clean energy technologies by leveraging Convion's advanced fuel cell technology.
  • Convion's CEO expressed gratitude for the support from Bird & Bird, highlighting the importance of their guidance in completing the deal.
  • The deal was facilitated by a core team from Bird & Bird, showcasing expertise in corporate, tax, banking, and finance matters.
Bird & Bird, an international law firm, provided advisory services to Convion and its shareholders in a significant transaction where HD Hydrogen acquired a majority stake in the Finnish fuel cell technology company for 72 million euros. Convion specializes in high-temperature solid oxide fuel cell (SOFC) and solid oxide electrolysis cell (SOEC) products crucial for decarbonizing industries and energy systems. The investment from HD Hydrogen, a subsidiary of HD Korea Shipbuilding & Offshore Engineering, aims to enhance its leadership in clean energy technologies globally. Erkko Fontell, Convion's CEO, expressed the milestone achieved through the deal and praised Bird & Bird for their crucial role in the successful completion of the transaction. The Bird & Bird team involved in the deal comprised experts in corporate, tax, and finance fields, showcasing their dedication and proficiency in facilitating complex transactions in the energy sector.
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