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.
Topics
Utilities
Clean Energy
Investment
Fuel Cell Technology
Energy Systems
Law Firm
Shipbuilding
Offshore Engineering
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