China’s Nanjing Tica Thermal Technology has officially formalised the acquisition of Exergy from the Maccaferri Industrial Group following a successful auction bid.
The deal brings together Italian firm Exergy’s knowledge in Organic Rankine Cycle (ORC) systems for clean power generation and the Tica Group’s high-efficiency HVAC solutions and thermal energy systems.
The strategic alliance is looking to create significant synergies between the two groups and aims to offer the global market a vast and competitive range of clean technologies and green power generation solutions.
Exergy’s founder Claudio Spadacini said he was delighted that Tica has recognised his company’s technological value and its potential.
He added: “I believe that integrating our product range with Tica’s and leveraging on our positions in complementary geographical markets we can be stronger, offering a real integrated high-tech competitive offer of clean technologies to customers worldwide.”
Tica’s founder and chairman Jiang Li said he is pleased that Exergy is joining Tica’s family.
“Exergy’s extensive experience with large capacity ORC installations and its broad suite of systems and intellectual property is an excellent complement to Tica’s existing ORC product portfolio,” he added.
“The acquisition also represents further opportunities for both Tica and Exergy together to deliver the very comprehensive and better total solutions to our customers in geothermal, waste heat recovery, and solar thermal application.”
What does the acquisition mean for Exergy and Tica?
Tica’s acquisition includes all the assets and personnel of Exergy, as well as its Turkish subsidiary, with the new company operating under the trade name of Exergy International S.R.L.
The Italian firm will continue to design and manufacture its innovative radial outflow turbine ORC systems in its existing workshop near Milan, keeping all the technical and staff team together.
Tica’s extensive presence in China and its experience in the Asian market will support the expansion of Exergy’s ORC business into these areas.
Product integration with Tica’s “PureCycle” small-scale ORC technology will enable the two companies to offer a broad array of solutions for green power generation in the global market.
This will be starting from 280-kilowatt units, suitable for low-temperature waste heat and renewable energies, to bespoke power plants with turbines up to 25 megawatts (MW) each, for higher temperature applications.
It’s reported that Exergy’s presence in Europe will also help to develop Tica brands and products for the commercial heating, ventilation, and air-conditioning industry in this market.
