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The joint venture will see CST Composites expand its core capabilities to support the growth of Optimum’s business in designing and producing Composite Pressure Vessels (CPVs), which are used to store hydrogen and Renewable Natural Gas (RNG) and have many other applications. CST has two manufacturing facilities in Australia and…
Hanwha heir aims to build solar energy ecosystem
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Hanwha Solutions acquires hydrogen-tank specialist Cimarron Composites By Mary Page Bailey | January 22, 2021 Hanwha Solutions (Seoul, South Korea) announced that it signed a deal to acquire a 100% stake in Cimarron Composites, an American high-pressure tank manufacturer. Cimarron Composites originally began as an internal venture at NASA in 2008 by Tom DeLay, 23-year veteran in materials science at NASA. DeLay holds several patents related to lightweight tanks, including patents for high-pressure tanks used in spacecraft. Cimarron Composites became an independent company in 2015 and current...
Hanwha Solutions acquires US hydrogen tank maker | Hanwha Corp. (Yonhap) Hanwha Solutions Corp., a South Korean energy solutions company, said Monday it has signed a deal to acquire US hydrogen tank firm Cimarron Composites LLC as part of a diversification strategy. Hanwha Solutions plans to complete the process to take over an entire stake in the US industrial tank equipment maker by April, the company said in a statement. "The company will invest $100 million, including the acquisition capital, in Cimarron by 2025," the statement said. The acquisition of Cimarron will help Hanwha Solution...