Thermax an energy and environment solution provider based out of Pune, India has acquired Denmark boiler maker Danstoker group and its German unit Omnical Kessel for €29.5 million. As Panchabuta had reported last year, Thermax entered into a tech with Germany’s Lambion for high efficiency combustion systems for using biomass. Earlier, Thermax had entered into a JV in March, with Babcock and Wilcox (B&W) for manufacturing and supplying both sub- (above 300MW) and super-critical boilers. The boiler based on the technology of Babcock & Wilcox (B&W), USA offers both single-drum and bi-drums variants with benefits that include fuel flexibility, low maintenance and high operating availability. These boilers have the ability to accept fuels like Bagasse, mustard stalk, cotton stalk, rice husk, coffee grounds, de-oiled bran, wood chips, roasted chaff, lignite, washery rejects, paper sludge, coal.
Danstoker group makes biomass and oil, and gas-based boilers as well as waste heat recovery products in the same range as Thermax makes standard packaged boilers, although Danstoker’s focus on renewable energy sources will provide Thermax with new technologies.
Further, with this acquisition, Thermax has indicated that intends to leverage the Danstoker and Omnical brands and establish itself as a global player.
According to reports, Thermax is seeking to acquire a water-treatment company in Europe with annual revenue of $10 million-$100 million to expand its footprint in that market and access technology, a senior executive said.
“Europe and the U.S. will continue to invest heavily in green technologies and renewable energy,” said Managing Director M.S. Unnikrishnan. “So we are interested in operating in these markets.”