2022-05-02 Financial news
Alfa Laval acquires patented technology to strengthen its position in carbon-neutral fuel processing
Alfa Laval has acquired patented technology from the Danish company RenCat to reform hydrogen from ammonia. This technology, in combination with Alfa Laval’s heat transfer expertise, will increase the business opportunities within the growing market for hydrogen processing, facilitating the use of renewable fuels in the future. The signing and closing date was 29 April, 2022.
There is growing demand for cleaner fuel alternatives to meet carbon reduction targets. Ammonia is projected to be one of the clean energy bearers both in the shipping industry, as well as for land-based applications. RenCat’s patented technology generates hydrogen from ammonia, for use in fuel cells or combustion engines. Ammonia is one of the carbon-neutral synthesized fuels, often referred to as Power-to-X where “x” can stand for ammonia, methanol, hydrogen, methane, etc. The acquired technology combined with Alfa Laval’s heat transfer expertise will enable a completely new product range targeting the growing hydrogen market. The first products based on the technology are expected to be launched by the end of 2023.
“I am very pleased to announce this acquisition which will accelerate our product development in the growing hydrogen market. With our combined know-how and patented technologies, we will be able to expand the technical borders and contribute to create a more sustainable society,” says Thomas Møller, President of the Energy Division.
Did you know… According to the World Energy Council, the global demand for carbon-neutral synthetic fuels, is estimated to reach up to 20,000 TWh by 2050, which is equivalent to 50 percent of current fossil fuel consumption.
This is Alfa Laval
Alfa Laval is a world leader in heat transfer, centrifugal separation and fluid handling, and is active in the areas of Energy, Marine, and Food & Water, offering its expertise, products, and service to a wide range of industries in some 100 countries. The company is committed to optimizing processes, creating responsible growth, and driving progress to support customers in achieving their business goals and sustainability targets.
Alfa Laval’s innovative technologies are dedicated to purifying, refining, and reusing materials, promoting more responsible use of natural resources. They contribute to improved energy efficiency and heat recovery, better water treatment, and reduced emissions. Thereby, Alfa Laval is not only accelerating success for its customers, but also for people and the planet. Making the world better, every day.
Alfa Laval has 17,900 employees. Annual sales in 2021 were SEK 40.9 billion (approx. EUR 4 billion). The company is listed on Nasdaq Stockholm.
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