NPEX-investors enthusiastic about growth opportunities of gas producer.
In the near future, the HyGear bonds will be tradable on the Dutch SME exchange, NPEX. With the proceeds, HyGear, a brand name of Green Vision Holding from Arnhem, will fund the first stage of its next growth cycle.
HyGear’s CEO Marinus van Driel is delighted with the tremendous interest of investors for the bonds. “We have shown HyGear as a company with strong financial performance and ground breaking products. Our order book is almost filled for this year and with this growth funds, including the €2m innovation credit that was announced earlier last week, we will be able to finance our growth plans well into 2018” says Van Driel.
HyGear is known in the market for the development of compact installation for on-site production of industrial gasses like hydrogen, nitrogen and oxygen. With the proceeds from the bond, the company will shift its focus from the turn-key delivery of installations towards its ‘GaaS-solution’ (Gas as a Service). In this concept, HyGear will retain ownership of the installations and takes responsibility for operations and back-up supply whilst the customer will only pay per volume of gas used.
HyGear was incorporated in 2002 by shareholder and CEO Marinus van Driel, as he saw hydrogen as a viable alternative for fossil fuels. Barrier for the breakthrough was the availability of hydrogen in decentralized locations. The main stream supply method of centralized production and road transportation was inefficient and expensive. The company developed technologies to generate hydrogen on smaller scale. As the hydrogen economy developed too slow, HyGear found its first applications in the existing industries like flat glass, semi-conductor and steel. The technology offer significant cost savings, an improved security of supply and reduced environmental impact.
“We are thankful for the trust of the NPEX investors and also with the continuous support of our existing shareholder PPM Oost, part of Regional Development Company Oost Nederland and owner of 34.6% of our shares”, says Marinus van Driel
NPEX-director Adriaan Hendrikse said that the successful bond offering shows the attractiveness of companies that are active in the field of sustainability. ,,It is generally not important that bonds sell out as quick as this, but it is nice for HyGear that this bond together with the support from the Ministry of Economic Affairs and PPM Oost, show the broad support for the company”.
About HyGear
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.
About NPEX
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.
20/02/2017
