Milan, Italy- November 19, 2020
De Nora, a recognized international leader in the design, production, and supply of electrochemical technologies and water treatment systems, becomes a partner of choice to Snam, thus complementing both organization's initiatives. Snam invests in De Nora by taking over the minority share (32.6%), which Blackstone Tactical Opportunities acquired in April 2017.
Paolo Dellachà, CEO of De Nora
“I am very satisfied with the results of our three years with Blackstone and everyone - owners, management, and employees - are enthusiastic about this new partnership with Snam, which will further strengthen our commitment to the development of sustainable technologies.
With the addition of Snam to the shareholding structure, De Nora confirms its determination to become the partner of choice not only for customers but also for other industry stakeholders. We already have the production capacity in strategic growth fields that investors and the market expect.”
It is a synergetic partnership for many reasons, particularly for the production of hydrogen through the water electrolysis process. De Nora, in this business since the 1960s, has invested heavily to develop a new generation of electrodes, making hydrogen from renewable sources a winning alternative to industrial chemical processes. Today, more than ever, green hydrogen, produced by electrochemical means, has the potential to become the "zero impact" energy source, due to major investments in numerous funded projects and because of the already announced development plans of several European countries and leading industrial groups.
Federico De Nora, Chairman of De Nora emphasized the value of the transaction: "This new chapter of De Nora, which is approaching its 100th anniversary, is undoubtedly the result of the commitment of all 1,600 employees, whom I thank, and the fantastic work of a united and focused management. Every person, each in their own area of expertise, contributed to achieve the ambitious vision of playing a leading role as a developer of clean and sustainable technologies that can meet the ever-increasing demand for energy and water."
De Nora Group is headquartered in Milan, with facilities in Europe, the United States, South America, and Asia, thus boasting a global presence and a very diversified and growing customer portfolio.
In the three years with Blackstone, De Nora’s revenues and EBITDA volumes have increased considerably: De Nora generates sales of more than 500 million euros per year (60% in electrodes, 40% in water treatment), with an expected EBITDA of around 90 million euros in 2020 and average growth (CAGR) of 8% over the last three years.
The Group operates through two main business division:
Electrode Technologies supplies cells and electrodes based on De Nora’s know-how and intellectual property covered by hundreds of patents. The electrodes produced by De Nora are used in a wide range of industrial electrochemical applications, such as chlorine production, electronics, plating, corrosion prevention, and non-ferrous metal production.
Water Technologies, which provides innovative and sustainable disinfection and filtration technologies, as well as a comprehensive range of solutions and services for drinking water treatment, municipal and industrial wastewater treatment applications, and for cooling of coastal power plants and marine applications.
About De Nora
De Nora is a global supplier of innovative technologies and is recognized as a partner of choice for important industrial electrochemical processes and water treatment solutions. Driven by the philosophy of continual improvement, pursued since its foundation in 1923, De Nora develops and manufactures electrodes and electrochemical systems with high performance, and offers advanced disinfection and filtration technologies to solve problems related to municipal and industrial water treatment. De Nora is committed to the development of unconventional solutions to achieve the energy transition to decarbonization, hydrogen economy, and clean water for everyone. More than 1,600 dynamic and knowledgeable employees work together for a sustainable future.
For information about Snam, visit: www.snam.it