Eberspaecher acquires US company ViCTORi, thus entering hydrogen and fuel cell market
This acquisition will allow Eberspaecher to enter the hydrogen and fuel cell technology market and make a significant step forward towards a fast-growing business.
As of 2 July 2021, German automotive supplier Eberspaecher owns 100 percent of the shares of the U.S. company ViCTORi, better known as VAIREX air systems, an air compressor supplier for fuel cells used in stationary, material handling and on and off highway mobile applications.
This acquisition will allow Eberspaecher to enter the hydrogen and fuel cell technology market and make a significant step forward towards a fast-growing business. «We are deliberately investing in a future market and want to grow purposefully with hydrogen and fuel cell technology», says Eberspaecher Managing Partner Martin Peters, explaining the investment.
Eberspaecher now owns ViCTORi, specializing in air compressors
ViCTORi, operating under the well-known brand VAIREX air systems, develops and produces fuel cell cathode air compressors and related components. These control the power that the fuel cell generates through accurate air flow and pressure supply, making it a key component for the performance of fuel cells and contributing significantly to the performance, packaging and durability of the overall system.
The technology is already utilized in stationary as well as in mobile fuel cells applications and includes emission-free forklifts and conveyor vehicles. In addition, they are used as range extenders in light delivery vehicles as well as in stationary power generation systems. Due to the high reliability of the components, they can be used in fuel-cell trucks or buses in the future. Since the overall market for fuel cell applications is growing strongly, Eberspaecher is investing purposefully. According to market forecasts, a worldwide sales potential of eight billion US dollars is estimated for fuel cell systems by 2030.
«Thrilled to become part of Eberspaecher»
VAIREX products have been on the market for more than ten years and the company has already delivered more than 15,000 air compressors to customers in 25 countries worldwide. With headquarters and production in Boulder, Colorado (USA) as well as sales operations in Tokyo, Seoul and Shanghai, the company has so far seen the greatest success in the US and Asian markets.
«After years of strong and recently accelerating growth, VAIREX needed to significantly expand our scale and global footprint to keep pace with the fuel cell industry. Eberspaecher is an excellent fit, and we are thrilled to become part of this great company. Together we can quickly amplify our engineering and manufacturing capabilities, and introduce our planned new products much quicker than we could have done it by ourselves», commented Ski Milburn, CEO of VAIREX air systems, who will remain in operational management with the current management team.