# Hanwha General Chemical acquires PSM and Ansaldo Thomassen for hydrogen co-firing technology

Hanwha General Chemical acquired 100% equity of US-based PSM and Netherlands-based Ansaldo Thomassen, both gas turbine service companies with hydrogen co-firing technology. The acquisition contract was signed on March 19, 2021, with completion expected by June 2021.

- Type: Acquisition
- Announced: 2021-03-19
- Where: United States
- Status: announced
- Products: gas turbine hydrogen co-firing technology
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Ansaldo Energia](https://endata.com/companies/5573.md) (partner)
- [Hanwha General Chemical](https://endata.com/companies/53950.md) (acquirer)
- [Power Systems Mfg.](https://endata.com/companies/53951.md) (target)
- [Ansaldo Thomassen](https://endata.com/companies/53952.md) (target)

## Sources

- [asiae.co.kr](https://www.asiae.co.kr/en/article/2021032211295413196), 2021-03-22: "Hanwha General Chemical announced on the 22nd that it has acquired gas turbine service companies possessing hydrogen co-firing power generation technology."
- [koreatimes.co.kr](https://www.koreatimes.co.kr/business/companies/20210322/hanwha-acquires-two-leading-hydrogen-combustion-technology-companies), 2021-03-22: "We have inked a deal to acquire 100 percent stakes in U.S. Power Systems Mfg., LLC (PSM) and Ansaldo Thomassen B.V (ATH) of the Netherlands which possess hydrogen combustion technologies."
- [world.wip-news.com](http://world.wip-news.com/news?news=61), 2021-04-16: "We secured not only gas turbine technology that we have been relying on imports but also hydrogen dual fuel technology that dramatically reduces carbon and nitrogen oxide generation amount."

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