GSK Stockmann advised Hoeller Electrolyzer GmbH on its capital raising and on the acquisition of a majority stake by Rolls-Royce Power Systems AG. In the course of this, shares of existing shareholders were also sold.
Hoeller Electrolyzer has many years of experience in the development of hydrogen technology, in particular electrolyser stacks suitable for mass production. In their “Prometheus” electrolysis stacks, water is broken down into hydrogen and oxygen with the addition of electricity. The stacks enable the particularly cost-effective production of hydrogen and are thus the core component of future electrolysis systems and for processes that convert green electricity into chemical energy carriers for electricity storage, into electricity-based fuels for mobility or raw materials for the chemical industry – so-called power-to-X systems.
Rolls-Royce Power Systems, headquartered in Friedrichshafen, employs around 9,000 people. The company sells high-speed engines and drive systems under the mtu brand. Hoeller’s innovative technology will form the basis for the future mtu electrolysers of Rolls-Royce’s Power Systems division.
“We are particularly pleased to have been selected as advisors for this complex transaction, as one of our current advisory focuses is on the sustainable transformation of business, the green deal,” commented GSK Stockmann partner Tobias Riethmueller, who was the lead advisor on the transaction. The transaction was demanding in terms of company law, not least due to the complex and unconventional structure with several option rights staggered over time. The mandate also included tax aspects.
Advisers to Hoeller Electrolyzer GmbH
GSK Stockmann: Tobias Riethmueller (Lead, Corporate), Gerhard Guendel (Corporate, M&A), Alexander Insam (Employment), Dominik Berka (Tax)