Dutch producer of compact gas installations expands
In total, HyGear announced to acquire € 2.5 Million via trading platform NPEX (www.NPEX.nl). The bonds of € 1,000.- each will mature in 6 years. Investors can subscribe to the HyGear bonds starting February 14th via NPEX web site. The offering closes once the bond is fully placed.
HyGear is known in the market for the development of compact installations for production of industrial gases including hydrogen, nitrogen and oxygen. The proceeds from the bond offering will be used to shift its attention. From the focus of direction in one-off sale, HyGear is now following the movement in the market with an increasing demand for “Gaas solutions” (Gas as a Service). In the GaaS concept, customers basically subscribe to gas supply services by HyGear. This makes the profitability of the company over time larger but requires more working capital in short term.
HyGear was established in 2002. Founder,current CEO and shareholder, Marinus van Driel saw the opportunity in hydrogen as an alternative to fossil fuels. Barrier to the breakthrough was the availability of hydrogen at the fueling stations. Hydrogen is currently produced in centralized plants and transported in trailers to the end users. The amount of gas that can be transported in a trailer is limited and transportation distances are often large. This makes the supply inefficient and expensive.
HyGear found the solution to produce hydrogen on site to solve this problem by introducing compact gas systems. Gradually, after the introduction of its technology, HyGear found its main market in industrial hydrogen supply in industries such as flat glass production, steel processing and semi-conductors. The company extended its portfolio with other gases like nitrogen and oxygen as well.
Since its establishment, HyGear has grown into a profitable company with over sixty employees with office and manufacturing facilities in The Netherlands and Singapore. “We sell our systems globally and we saw the growth particularly in our new GaaS solutions. We will manage and maintain the system completely and the customer pays for the amount of gas that they generate. This subscription model is very interesting but we encounter the lack of working capital in the short term. The amount that we acquire from the bond will be used to accelerate the further growth of the company,” says Van Driel.
Click here to find out more about the bond.
HyGear supplies industrial gases such as hydrogen, nitrogen and oxygen to industrial end-users with an innovative method of on-site production. The products Hy.GEN, N.GEN and O.GEN ensure the transportation of gases is minimized and thus HyGear offers a both the advantage of cost and emission reduction to end user.
Marinus van Driel
+31 88 949 4301
NPEX is the SME exchange in the Netherlands where enterprising investors can invest and trade in ambitious companies, who are seeking for growth financing. NPEX is under continuous supervision of the financial markets authority and the Dutch Central Bank. INKEF Capital is one of the shareholders of NPEX, a subsidiary of the general civil pension fund.
Alan van Griethuysen (NPEX)
06 50 52 30 04