Context
It is increasingly recognized that green hydrogen will be a key enabler of a global transition to more sustainable energy sources. Recent events have accelerated the momentum to transition away from fossil fuels supplies
Enapter AG is a pioneer and global leader in modular stackable and highly cost-effective AEM electrolysers for green hydrogen production
As part of its continuing path towards the most cost-effective green hydrogen, Enapter is massively scaling up its production capabilities both at the existing site in Pisa, Italy and at a new site in Saerbeck, Germany. This production ramp-up is facilitated by ongoing financing from institutional investors and select value-added strategic investors
Enapter has selected Johnson Matthey as a key strategic and financial partner. Johnson Matthey is a global leader in sustainable technologies with the ambition to take a prime position in green hydrogen technologies and seeking to diversify its technology base in this booming market
Liam Condon, CEO of Johnson Matthey, said: “This investment and strategic partnership is at the heart of our strategy as we focus our resources on growth areas targeted at climate change solutions. Working with Enapter is a great opportunity for us to further expand in green hydrogen and deliver on our vision for a cleaner, healthier world.”
Sebastian Justus-Schmidt, CEO of Enapter, said: “Rapid growth and scaling of our technology lies at the core of our mission to drive down the cost of green hydrogen. This partnership recognises Johnson Matthey’s pioneering work in material chemistry and its industrialisation, and enables us to continue enhancing the efficiency and performance of our products to deliver on the promise of clean energy for all.”
About Enapter
Enapter is an innovative energy technology company that manufactures highly efficient hydrogen generators – known as electrolysers – to replace fossil fuels and thus drive the global energy transition. Its patented and proven Anion Exchange Membrane (AEM) technology enables the mass production of cost-effective plug-&-play electrolysers for green hydrogen production at any scale. Its modular systems are already used in 47 countries across the energy, mobility, industrial, heating and telecommunications sectors. Enapter has subsidiaries in Europe, the USA and Asia
Enapter AG is listed on the regulated market of the Frankfurt and Hamburg stock exchanges, (WKN: A255G0 ISIN:DE000A255G02)
About Johnson Matthey
Johnson Matthey is a global leader in sustainable technologies that enables a cleaner and healthier world. With over 200 years of sustained commitment to innovation and technological breakthroughs, we improve the performance, function and safety of our customers’ products. Our science has a global impact in areas such as low emission transport, chemical processing and making the most efficient use of the planet’s natural resources. Today about 15,000 Johnson Matthey professionals collaborate with our network of customers and partners to make a real difference to the world around us
Deal Team
Should you want to know more about this transaction, you can contact one of the team members above
Bryan, Garnier & Co acts as Sole Financial Advisor to Enapter AG on a €20m strategic investment from Johnson Matthey
Bryan, Garnier & Co acts as Sole Financial Advisor to Enapter AG on a €20m strategic investment from Johnson Matthey
Bryan Garnier & Co led an ongoing global search to assist Enapter in finding the optimal strategic partners for its scale-up phase, with the aim of leveraging the partner’s capabilities in joint technological development, access to potential customers and markets, and reinforcing the Company’s leading position in production of low-cost, stackable hydrogen production equipment
Bryan Garnier acted as Sole Financial Advisor to Enapter AG on a €20m strategic investment from Johnson Matthey as part of Enapter’s ongoing financing round. Johnson Matthey invested €20m at a fixed price of €19 per share for 1,052,631 shares. This offer price reflected the same price offered to institutional investors in Enapter’s April 2022 €30m capital increase
Bryan, Garnier & Co ran a highly competitive process introducing a range of global strategic players with a specialist focus on renewables, especially green hydrogen. The resulting high levels of interest enabled management to select a preferred and limited set of parties with which to proceed into more detailed discussions and led to the successful selection of Johnson Matthey as a value-added partner of choice
A collaboration agreement was concurrently signed with the new strategic investor, setting up frameworks for joint development to unlock opportunities in advanced materials and components for Enapter’s AEM stacks. Specialised catalysts will also be supplied, recognising Johnson Matthey’s undisputed expertise in materials chemistry
Sebastian Justus-Schmidt, CEO of Enapter, said: “Bryan, Garnier & Co. ran a thorough and professionally managed process engaging with prominent strategic investors across the hydrogen value chain. Bryan Garnier supported us along the way on all investment and collaboration related interactions with counterparts. This led to our current selection of Johnson Matthey as highly value-added partner and investor. We are delighted to have Bryan, Garnier and Co. by our side on our ongoing journey towards a de-carbonised world.”
This transaction demonstrates Bryan, Garnier & Co’s continued strength in running highly competitive processes, track record in bringing top-flight strategic investors into public companies, and long-standing expertise in energy and sustainability including green hydrogen. The transaction builds on Bryan, Garnier and Co’s roster of landmark transactions in the hydrogen sector including the €124m Lhyfe IPO, €180m McPhy follow-on and €151m HDF IPO. Bryan Garnier was sole global coordinator on both transactions
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