Spirax Group plc invests 4 million euros in SPH
Dean Stephens, Group Head of M&A at Spirax Group (right), celebrates the agreement with Managing Directors Andreas Mück (left) and Tim Hamacher
Forward-looking corporate investment
Strategic partnership set to revolutionise industrial process heat generation
Spirax Group plc have agreed to invest €4 million into SPH Sustainable Process Heat. On 8 August, Spirax Group released their HY report, in which they announced the following statement:
"On 6 August, the Group agreed to invest €4 million in return for an initial 12% stake in Sustainable Process Heat GmbH (SPH), a technology start-up in Germany that is pioneering the development of high temperature heat pumps (HTHPs). We have an option to increase our holding upon SPH meeting certain technical milestones. This additional investment would also trigger a commercial agreement, adding the HTHPs to our portfolio of solutions to electrify the generation of steam for critical, higher temperature applications where steam is used directly in our customers’ industrial processes."
Tim Hamacher and Andreas Mück, Managing Directors of SPH, comment on the agreement:
"We are thrilled to announce our strategic partnership with Spirax Group, a global leader in steam and thermal energy solutions. Their €4 million investment and commitment to our pioneering high temperature heat pump (HTHP) technology marks a significant milestone for SPH. This collaboration will accelerate the commercialization of our innovative solutions, empowering industries to transition towards more sustainable, electrified steam generation for high-temperature applications. We look forward to the exciting journey ahead, as we continue to revolutionize industrial process heating together!"
