# Hanwha Solutions acquires Cimarron Composites, a U.S. hydrogen-tank manufacturer

Hanwha Solutions signed a deal to acquire a 100-percent stake in Cimarron Composites, a U.S.-based high-pressure tank manufacturer. Hanwha Solutions plans to invest at least USD 100 million in Cimarron Composites by 2025, including expansion of production facilities. The acquisition is expected to complete by April 2021.

- Type: Acquisition
- Announced: 2020-12-01
- Where: Huntsville, Alabama, United States
- Value: $100.0M
- Status: announced
- Products: high-pressure hydrogen tanks, aerospace tanks
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Hanwha Solutions](https://endata.com/companies/7811.md) (acquirer)
- [Cimarron Composites](https://endata.com/companies/8472.md) (target)

## Sources

- [hanwha.com](https://www.hanwha.com/newsroom/news/press-releases/hanwha-solutions-acquires-us-hydrogen-tank-start-up.do), 2021-01-13: "Hanwha Solutions has announced its acquisition of Cimarron Composites, a U.S.-based high-pressure tank manufacturer."
- [globalrenewablenews.com](https://globalrenewablenews.com/article/energy/category/generation/52/880461/hanwha-solutions-acquires-u-s-hydrogen-tank-start-up.html), 2021-02-09: "Including the acquisition costs, we plan to invest at least USD 100 million in Cimarron Composites by 2025 to establish a strong foundation from which to develop our global hydrogen tank business."
- [compositesworld.com](https://www.compositesworld.com/news/hanwha-solutions-acquires-cimarron-composites-aims-to-be-global-leader-in-high-pressure-tanks-by-2030), 2021-08-12: "Including the acquisition costs, we plan to invest at least $100 million in Cimarron Composites by 2025 to establish a strong foundation from which to develop our global hydrogen tank business."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.