Hitachi Chemical Co., Ltd. announces the conclusion of a contract to acquire a 100 percent stake in ISOLITE GmbH, a manufacturer/distributor of thermal insulations for automobiles, aircraft and other industrial applications, from Equita GmbH & Co. Holding KGaA, a private equity fund and other shareholders.
In the 2018 Medium-Term Management Plan ending in fiscal 2018, the basic policy of Hitachi Chemical’s automotive products business is to strengthen its foundation as a top global supplier by expanding the company’s overseas development, manufacturing and sales bases. On the other hand, ISOLITE is advancing its thermal insulation business for automobiles, aircraft and other industrial applications with its development, manufacturing and sales operations based in Germany, where its “direct insulations” developed by its own material technology have been adopted by major automakers as pipe insulations connected to turbochargers recently introduced to automobiles for greater fuel efficiency, especially in Europe. With turbocharged vehicles likely to spread more widely to other countries, such as the United States and Japan, ISOLITE’s thermal insulation business is expected to grow further in the global market.
This share acquisition will allow Hitachi Chemical to expand the sales of ISOLITE’s thermal insulations to Japanese automakers through its existing domestic sales network, while taking advantage of ISOLITE’s sales network and manufacturing bases in Europe to accelerate the promotion of Hitachi Chemical’s automotive products in the European market. In addition, ISOLITE and Hitachi Chemical will explore the synergistic effects of insulation technology to speed up the development of thermal insulations that meet market needs, such as low fuel consumption and environmentally-friendly components expected to see further growth in the future, thereby providing solutions for thermal management of automobile engines and exhaust system parts.
Source: Hitachi Chemical
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?
