It is a strategic step, one marking the integration of a center of excellence for electrolysis into a global family. The acquisition of HyDep by NEXTCHEM – completed in April 2024 – opens up new opportunities for the development of advanced technologies in green hydrogen. To delve into the details of this transformation, we gathered the testimonies of Mario Dragoni, visionary entrepreneur and founder of HyDep, and Alberto Litta Modignani, Vice President Hydrogen at NEXTCHEM and MD of HyDep.

"Our adventure began in 1999, at a time of great technological transformation," recalls Mario Dragoni. Initially engaged in the production of power electronic components, such as power supplies and soldering systems, HyDep found hydrogen to be a key element in improving its production processes. "We needed hydrogen for specific applications, but soon realized that we could produce it ourselves and, even better, develop advanced technologies to do so."

This change in perspective led HyDep to collaborate with strategic partners, initiating a phase of learning and innovation in the field. "At the time, we did not imagine that we could become a leader in this field. We started by designing electrolyzers in collaboration with other companies, but our goal has always been to go further, creating our own solutions, ones capable of responding to the specific needs of the market," Dragoni explains.

Turning points

Over the years, HyDep has expanded its range of expertise, participating in European and international projects for innovative hydrogen applications. "One of our first significant projects was the development of a large plant for Audi, where we worked on synthetic methane produced by combining hydrogen and CO2. This gave us credibility in the market and allowed us to attract customers of international caliber," Dragoni says.

Over time, the company has gone through different stages of technological development, from traditional alkaline electrolyzers to more advanced PEM (Proton Exchange Membrane) and AEM (Anion Exchange Membrane) systems. "We have always tried to combine innovation and pragmatism, optimizing each step of the process to ensure reliability, efficiency and safety. It is an approach that has allowed us to grow and consolidate even in times of crisis, such as during the pandemic," Dragoni notes.

With the acquisition of HyDep by NEXTCHEM, as the electrochemistry sector finds new impetus for the development of cutting-edge technologies in green hydrogen, the MAIRE group strengthens its leadership position in the energy transition.

A strategic choice for MAIRE

According to Alberto Litta Modignani, the integration of HyDep represents a fundamental step in NEXTCHEM's green hydrogen strategy: "Approaching HyDep – explains NEXTCHEM's Vice President Hydrogen – was the result of a strategic journey that began in 2021. We wanted to build a technological value proposition for green hydrogen, and after analyzing the market, HyDep proved to be the ideal starting point, thanks to its unique know-how and ability to design stacks and electrolyzers. & Mario Dragoni adds: "This step was a strategic choice for us. After more than 20 years of experience, we realized that to grow further we needed to collaborate with a partner capable of taking our technologies to a global scale."

The €3.6 million acquisition includes an earn-out clause based on the achievement of technical targets and an option to acquire the remaining 20% of HyDep over the next three years. "Joining the MAIRE family has given us access to resources, expertise and markets that were previously out of reach. We can now design and manufacture electrolyzers with unique features, seamlessly integrating into MAIRE's value chain to offer complete solutions from design to implementation," says Dragoni. The goal is to combine HyDep's technological know-how with NEXTCHEM's engineering capabilities, creating proprietary green hydrogen solutions on a global scale.

Innovation and sustainability for the future

HyDep's contribution to the MAIRE group is not limited to engineering but extends to research and development of new technologies. "We collaborate with universities and research centers to continuously improve our solutions, maintaining a balance between innovation and industrial applicability. Our philosophy has always been to innovate without complicating, reducing development time to bring reliable and competitive products to market, " Dragoni explains. Litta Modignani confirms this vision: "HyDep has a dual mission. On the one hand, to support MAIRE in becoming a supplier of reference for large-scale electrolysis technologies; on the other hand, to expand its business, focusing on small-scale electrolyzers that are ready for the market."

One of HyDep's hallmarks is its focus on safety, a key issue in the hydrogen industry. "Each of our projects – Dragoni adds – starts with a risk analysis, and our machines are designed to meet the highest safety standards. This has enabled us to earn the trust of customers and maintain an excellent reputation in the international marketplace. "

A new era for HyDep

Looking to the future, Dragoni is optimistic: "With NEXTCHEM's support, we can finally realize gigawatt-scale projects, which will contribute significantly to the energy transition. We are ready to do our part to build a more sustainable future, developing technologies that not only produce green hydrogen but also make it accessible and affordable for a wide range of applications. In the transition from a small Italian company to the MAIRE group, HyDep is now part of a global network allowing us to face market challenges with renewed confidence. Our goal is clear: to become a point of reference for green hydrogen, offering innovative and sustainable solutions that can make a real difference. "

The future is also clear for Litta Modignani: "Although the green hydrogen market has not yet taken off as expected, we want to be ready and aligned with the best players in the market when the Power-to-X projects mature. HyDep is a strategic resource for MAIRE and a benchmark for the green hydrogen industry."