Paul Wurth and Boson Energy coming together

Luxembourg, 2 May 2016. Paul Wurth S.A. (‘Paul Wurth’) and Boson Energy S.A. (‘Boson Energy’) announce that they have signed a two-part agreement sealing their partnership in the field of smart and circular utility solutions based on distributed combined heat and power generation.

First, Paul Wurth, the Luxembourg-based technology provider to the iron & steel industry, takes a 20% minority shareholding in Boson Energy. Founded in 2008, the Luxembourg incorporated Boson Energy, located in Grevenmacher and present also in Poland, Sweden and Israel, develops and commercialises integrated utility solutions with technology based on clean high temperature gasification. These are compact, off-grid capable combined cooling, heat and power plants running on solid fuels like biomass and waste – designed to operate to the highest energy efficiency and environmental standards. The use of local solid fuels also provides energy security and builds local prosperity.

Through this equity stake, Paul Wurth takes a step into the energy sector. This move creates promising opportunities for innovative, alternative and affordable technological solutions offering the energy resilience that is in high demand in an increasingly climate challenged world – in both developed and developing markets.

Further, Paul Wurth and Boson Energy concluded a collaboration agreement for common operational activities, such as engineering, construction and operation. In a first stage, this alliance will mainly focus on the commercialisation of the successfully tested gasification concept developed by Boson Energy and its first application in an industrial-scale demonstration plant currently under realisation. This process technology is perfectly in line with Paul Wurth’s long-standing expert know-how acquired in the field of pyrometallurgical plants.

Georges Rassel, CEO Paul Wurth: “This strategic partnership is consistent with Paul Wurth’s business development approach seeking to continuously develop new attractive competencies, enlarge its business to growing markets and diversify its exposure to the steel industry.”

Jan Grimbrandt, CEO and Chairman of the Board Boson Energy: “We have been talking to Paul Wurth for a long time already and since 6 months we have been working together in fully integrated engineering teams. We are already benefitting from Paul Wurth’s brand, experience, and network in the industrialisation and international roll-out of new proprietary technologies. We are very pleased that Paul Wurth seized the opportunity to take our relation to the next level as a partner and owner in Boson and we are confident to generate fruitful synergies in the energy sector. Together with Paul Wurth, and our other strategic partners SAB and Apatec, we already feel firm support also from the Ministry of the Economy to build a distributed energy generation competence hub in Luxembourg.”

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