Fuel for Thought
Altran makes an equity investment in H2scan, and becomes its strategic development partner
Mar 14 2017 Read 1904 Times
Altran announced 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.
- Contributes to the transformation of Altran’s US energy business into a highervalue digitalized global offering for the industrial Internet of Things
- Reinforces Altran’s business relationship with global OEM players in Energy
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."
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