NautaDutilh assists Technip Energies on its creation of a green hydrogen joint venture with John Cockerill
NautaDutilh, alongside Skadden Arps, assisted Technip Energies in the negotiations with John Cockerill in respect of the creation of a new joint venture under the name Rely that will offer integrated end-to-end hydrogen solutions for industrial and utility scale projects. Through this joint venture Technip Energies, a Euronext Paris listed leading engineering and technology company focusing on energy transition, joins forces with John Cockerill, an international group with a world leading position as an electrolyzer manufacturer.
Rely will be headquartered in Belgium. The new company will be 60% owned by Technip Energies, with John Cockerill holding a 40% stake. To achieve its ambition to reach revenues of more than EUR 1 billion by 2030, the joint venture will benefit from the service of more than 200 hydrogen specialists from its inception.
NautaDutilh acted as Belgian counsel alongside lead counsel Skadden, Arps, Slate, Meagher & Flom LLP. The NautaDutilh core team assisting Technip Energies consisted of Nicolas de Crombrugghe, Florence Verhoestraete, Olivier Van Wouwe, Ruben Kenis and Lauren De Brauwer. The team further consisted of Don Baudewyns, Léopold Bellemans, Hussein Dagher, Maxime Vanderstraeten, Antoine Georis, Philippe François, Diane de Muelenaere, Carmen Schellekens, Sigrid Heirbrant, Nathalie Landuyt and Mariman Mohamed Adem.
"Congratulations to Technip Energies for this achievement. This joint venture will create new opportunities for the energy transition that is urgently needed in order to achieve the EU's net zero target. It was a pleasure to assist Technip Energies alongside the Skadden team on this project." says lead partner Nicolas de Crombrugghe.