Wolftank Group’s response to the current climate crisis involves its business areas hydrogen, LNG, Environmental Services and Industrial Coatings.
In the specific case of hydrogen, the market opportunities are huge and not even nearly exploited yet. The net-zero commitment of the global community implies the almost complete abandonment of fossil fuels within the next 20 to 30 years. This will be a major change and will affect all sectors, especially industry, transport and buildings. In addition, new process chains will be created around the production and distribution of hydrogen.
Among the different types of hydrogen, the usage of green hydrogen is the target: it is produced by water electrolysis using electricity from renewable sources, a manufacturing process without any direct carbon dioxide emissions from either its production or combustion. Therefore, it plays an important role for countries and industries that want to achieve their net-zero emissions targets by 2050.
The particularities of hydrogen
Hydrogen differs significantly from most other fuels and energy carriers, especially in terms of energy density, which has important consequences for the storage, transport and application of hydrogen.
In return, the volumetric energy density of hydrogen is particularly low. In fact, per unit of space, the energy content of hydrogen is much lower than the ones of most other fuels and energy carriers. Consequently, the storage or use of hydrogen at atmospheric pressure and temperature requires a considerable amount of space. However, by compressing or liquefying hydrogen, the low volumetric energy density can be increased. This greatly facilitates the storage, transport and application of hydrogen.
Wolftank Group’s response
Hydrogen is not a trend for Wolftank Group; the company was involved in the hydrogen topic at a very early stage. With its compression and filling concepts, Wolftank has been providing state-of-the-art solutions for the distribution infrastructure of hydrogen.
Nevertheless, the current situation demands a full response and Wolftank’s is based on two key aspects: innovation and cooperation. The first one is clearly proven by the wide hydrogen portfolio of the company. The second aspect has been especially successful in the past 12 months: Wolftank Group has succeeded in concluding cooperation agreements with well-known groups. This will enable to develop application possibilities for its filling and tank transport solutions in the most structured and expeditious manner possible. These recent partnerships include the cooperation with a subsidiary of the Italian long-distance gas network operator SNAM, whose goal is to promote hydrogen mobility through the construction of refuelling stations for cars, buses and trucks. Another highlight is the collaboration with the Italian subsidiary of the Spanish LNG distributor Molgas. In this case, the objective is the construction of decentralized hydrogen and LNG refuelling facilities. And, of course, the acquisition of a 50% stake in Mares Srl, a subsidiary of Kuwait Petroleum Italia, has proven to be successful.
The way forward
After the announcement of the European Union Commission to establish a Hydrogen Bank with an initial capital of € 3 billion, which clearly supports the hydrogen market and its development, the context is even more favourable. Wolftank Group has started to develop hydrogen projects in Spain through its subsidiary Wolftank Iberia. An electrolyser and a hydrogen refuelling station (HRS) on the Canary Islands and a Hydrogen Smart Container (that is, a mobile HRS) for a Spanish company are very good examples of the arousing interest in this country too. Czech Republic, Austria, Australia… Orders grow, and this is only the beginning.
It is no coincidence that the company is also a leading player in soil and water remediation as well as a strong supplier of life-prolonging measures for tanks and pipes.
In addition, its commitment to sustainability and circularity will be also at the top in the coming years: keeping materials in use, avoiding pollution from design and regenerating nature. As CEO Peter Werth states: “We develop partnerships to expand the European infrastructure for climate-neutral mobility. Furthermore, we are one of the leading players in environmental services. These two key competencies will be crucial on the way to a sustainable future, and we want to drive the change”. The path is clear, and Wolftank Group has been on it for a long time.
About Wolftank Group
Wolftank Group is a leading technology partner for energy and environmental solutions operating worldwide. In the field of energy mobility and logistics, the Group supports customers in more than 20 countries to implement projects in an efficient and environmentally friendly way. For this, it develops and implements tomorrow’s technologies to decarbonize transport and build the infrastructure for zero-emission mobility – such as turnkey delivery of modular hydrogen and LNG refueling facilities. In the area of environmental solutions, the offering includes due diligences for environmental risks, customized services for soil and groundwater remediation, as well as recycling. The group’s subsidiaries in eight countries on three continents are managed by Wolftank-Adisa Holding AG, based in Innsbruck, Austria. The share of Wolftank-Adisa Holding AG (WKN: A2PBHR; ISIN: AT0000A25NJ6) is listed in the direct market plus segment of the Vienna Stock Exchange AG and in the m:access of the Munich Stock Exchange and is traded on Xetra, the Frankfurt and Berlin Stock Exchanges. Further information: www.wolftankgroup.com
Disclaimer:
This communication contains forward-looking statements based on current knowledge, expectations, and projections of Wolftank-Adisa Holding AG’s management about the future. All statements are subject to potentially uncertain assumptions and risks that could cause actual results to differ materially from those expressed or implied by such statements. Such statements can be identified using words such as “expect”, “plan”, “anticipate”, “target”, “estimate”, “assume” or similar. Consequently, statements relating to the future are only valid at the time they are made. The Company does not assume any obligation to adjust, correct or monitor statements made in this communication in the future.