|March 9th, 2017|
Altran makes an equity investment in H2Scan, a US company specializing in hydrogen sensors, and becomes its strategic development partner
- Contributes to the transformation of Altran`s US energy business into a higher-value digitalized global offering for the industrial Internet of Things
- Reinforces Altran`s business relationship with global OEM players in Energy
Altran announced today that it has made a minority equity investment in the California-based company H2Scan, thus placing the Group in a strategic lead investor position. Altran will also become a board member of H2Scan.
H2Scan is a company specializing in analyzers for measuring hydrogen concentration in oil and mixed gases environments. The company serves the power industry, petro-chemical and oil refinery markets, with leading applications for power transformers. H2scan sells private label systems, subassemblies, or fully integrated sensors to global multi-national OEM customers, and distributor representation in over 65 countries.
H2Scan, who already has a business relationship with Altran to significantly reduce the cost of its sensor, is committed to use Altran as its development partner to support the development of:
- the design of custom system solutions for its customers
- the development of a new, lower cost sensor and ASIC
- the development support for production efficiency initiatives.
Commenting on this partnership, Dominique Cerutti, Chairman and CEO of the Altran Group, stated: "I am very happy to announce this partnership with H2Scan, which is the ideal partner for Altran to be right in the heart of the Internet of Things for Energy. This alliance is fully aligned with our strategy in the US, contributing to transforming Altran`s energy business into a higher value digitalized global offering. By teaming up with H2Scan, we will also further reinforce our relationship with major OEM players worldwide."
Mike Allman, Chairman and CEO of H2scan, added: "I am pleased to have H2scan aligned so closely with a global Engineering and R&D Service leader such as Altran. Altran has already proven that they can shorten the lead time and provide a cost effective solution for new products and designs as an IoT provider."
As a global leader in Engineering and R&D services (ER&D), Altran offers its clients a new way to innovate by developing the products and services of tomorrow. Altran works alongside its clients on every link in the value chain of their project, from conception to industrialization. For over thirty years, the Group has provided its expertise to key players in the Aerospace, Automotive, Defence, Energy, Finance, Life Sciences, Railway, and Telecoms sectors, among others. In 2016, the Altran group generated revenues of €2.120bn. With a headcount of more than 30,000 employees, Altran is present in more than 20 countries.
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Founded in 2002, H2Scan operates near Los Angeles, California and has a highly experienced team which developed a unique technology, and registered more than 20 patents worldwide. H2 measurement, which is a key indicator of pending transformer failure, drives a multi-billion opportunity. H2Scan is the only low cost semi-conductor solid state Hydrogen sensor available on the market.
Executive Vice-President and CFO
Tel: + 33 (0)1 46 41 71 89
Group Vice-President Communications
Tel: + 33 (0)1 46 41 71 73
Candice Baudet Depierre, directeur conseil
Tel: +33 (0)1 44 50 51 71
Anne Vernois, directeur associé
Tel: + 33 (0)1 44 50 51 75
President Founder H2scan Corp
Tel: 661 775 9452
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Source: ALTRAN TECHNOLOGIES via GlobeNewswire