Dutch manufacturer of compact gas installations accelerates.
In total, HyGear, a brand name of Arnhem-based Green Vision, aims to acquire an amount of € 4.9 million to finance new installations that will produce hydrogen on-site at its customers locations in 2018 and 2019. The bonds of € 1,000 each will mature in 6 years time and investors can subscribe between March 29th and May 29th 2018. The subscription period closes as soon as the bond offering is fully subscribed .
HyGear is known in the market for its innovative supply method of industrial gases. Instead of central production of gas, and road transportation to end users, the company has developed small scale generation and recovery technologies that are installed at the end users locations. These end users, usually in industries like glass, steel, semi-conductor and food production, are offered a more reliable and cost effective supply option against reduced environmental impact.
Last year, the company redirected its focus from project-based sale of installations to so called GAAS solutions (Gas as a Service), in which HyGear takes full responsibility for the gas supply and retains ownership of the installations. Industrial end-users of gases can focus on their primary processes and only pay for what is consumed.
This profitable strategy is on track and accelerates above expectations. This results in increased financing needs for 2018 and 2019 that can partially be covered by the company’s equity and partially with new capital from NPEX investors.
Since its inception in 2002, HyGear expanded from a technology company to a profitable full service organization in industrial gases with over 65 employees and offices in The Netherlands and Singapore.
“We sell our installations worldwide but mainly see growth in our new product Gas as a Service. With this, we take over the management and maintenance of the installation completely and the customer pays for the quantity of gas that they use. This is a very interesting subscription model, but requires more working capital. That’s why we are asking investors of NPEX to take part again, ” explains Marinus van Driel, CEO of HyGear.
HyGear was founded in 2002. Founder and current CEO and shareholder Marinus van Driel saw hydrogen as an important alternative to fossil fuels. The obstacle to a breakthrough of hydrogen as fuel was that the gas was difficult to transport and that it was produced in relatively few places.
HyGear has found an answer to this with the compact gas installation. Gradually, however, it turned out that there was mainly industrial demand for these installations, for not only hydrogen but also other industrial gases such as nitrogen and oxygen.
NPEX is the platform for growth financing in the Netherlands, where enterprising investors can invest in ambitious companies.
NPEX is an investment firm with a license from the Netherlands Authority for the Financial Markets. NPEX is under continuous supervision by the AFM and DNB. Among the shareholders of NPEX is Inkef Capital, a subsidiary of the ABP pension fund.
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