USA: BayoTech completes acquisition of hydrogen player IGX Group
With this acquisition, BayoTech becomes a “full-service hydrogen supplier”, says the company, offering localized production, transport, storage and fueling solutions.
BayoTech Inc. has completed the acquisition of IGX Group, an established leader in the design and manufacture of high-pressure, cylinder-based hydrogen storage and delivery equipment, according to a press release.
With this acquisition, BayoTech becomes a “full-service hydrogen supplier”, says the company, offering localized production, transport, storage and fueling solutions.
By combining forces with IGX, BayoTech aims to disrupt the established centralized hydrogen supply chain with a new model of local hydrogen production hubs, says BayoTech’s CEO, Mo Vargas. Today in the US, the majority of hydrogen is produced in centralized locations and transported long distances to the end consumer.
In addition to high-pressure gas transport and storage solutions, BayoTech’s expanded product line now includes hydrogen dispensing equipment and zero-emission fuel cell power generators. In this deal, BayoTech acquired IGX affiliate companies, NorAm Valves and Gas Transport Leasing.
New BayoTech President and former IGX President, Michael Koonce, will join the BayoTech executive team and will lead the newly combined sales team under BayoTech’s ownership.
Contenido relacionado
