Industrie De Nora S p A : finalized the acquisition of German company Shotec GmbH specialized in Plasma Technology Coating Processes

Milan, 16 May 2023 - Industrie De Nora S.p.A., an Italian multinational corporation listed on Euronext Milan, specialized in electrochemical and sustainable technologies and a leading supplier of key components for the production of green hydrogen, has completed through its German subsidiary De Nora Deutschland GmbH, the acquisition of 100% of the capital share of Shotec GmbH ("Shotec").

Founded in 2003 by Stefan Hartmann and based in Hanau, Shotec develops and operates plasma coating technologies for metals and metal surfaces to improve their mechanical and physical-chemical properties.

This transaction will allow De Nora to exploit its know-how in coating preparations for many electrochemical processes and is aimed at broadening the process and technology portfolio for the production of electrodes, while also guaranteeing its production capacity enhancement.

The acquisition was pursued following continuous monitoring of the market and evaluation of key synergies with companies and research centers, with the ultimate goal of further strengthening research and development activities with a view to a progressive reduction in the use of precious metals in anodic and cathodic coating activities, to make the electrochemical processes in which the coatings are used increasingly competitive, in line with market demand for economic and reliable performance over time.

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Industrie De Nora is an Italian multinational company listed on the Euronext Milan stock exchange, specializing in electrochemistry, a leader in sustainable technologies, and has a vital role in the industrial green hydrogen production chain. The Company has a portfolio of products and systems to optimize the energy efficiency of critical industrial electrochemical processes and a range of products and solutions for water treatment. Globally, Industrie De Nora is the world's largest supplier of activated electrodes (serving a broad portfolio of customers operating in the fields of chlorine and caustic soda production, components for electronics, and non-ferrous metal refining). Industrie De Nora is also among the world's leading suppliers of water filtration and disinfection technologies (for the industrial, municipal, and marine sectors) and the world's leading swimming pool disinfection components supplier. Leveraging its well-established electrochemical knowledge, proven manufacturing capability, and a supply chain established over the years, the Company has developed and qualified a portfolio of electrodes and components to produce hydrogen through the electrolysis of water, which is critical for the energy transition. In this sector, the company also holds 34% of thyssenkrupp nucera AG &Co. KGaA, a joint venture established with the thyssenkrupp group.
Founded in 1923, Industrie De Nora generated total revenues of around EUR 853 million and an Adjusted EBITDA of approx. EUR 191 million in 2022. The Company's growth process has developed organically through continued penetration of new markets and applications and through acquisitions in the U.S., Asia, and Europe. De Nora's continuous innovation drives its growth, represented by its evolving intellectual property portfolio, which currently includes more than 260 patent families with more than 2,800 territorial extensions. The De Nora family controls the Group, which owns 53.3% of the Company's share capital. Snam S.p.A. is a minority shareholder with about 21.6% of the capital.

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