Mutares has successfully completed the acquisition of Heat Transfer Technology (NEM Energy) from Siemens Energy B.V.

• In future operating under the name NEM Energy
• Leading OEM in the field of heat recovery steam generators (HRSG) for gas-fired power plants and industrial-sized energy efficiency applications
• Globally leading supplier in the field of exhaust and diverter solutions
• New platform investment to strengthen the Engineering & Technology segment
• Significant synergy effects with the Balcke-Dürr Group expected

Munich, Amsterdam, 1 December 2022 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of Heat Transfer Technology from Siemens Energy B.V. This new platform investment is strengthening the Engineering & Technology segment and will operate under the name NEM Energy B.V.

The company, founded in 1929, is headquartered in Zoeterwoude, the Netherlands, employs more than 280 people and operates a fully loaded order backlog. The exhaust and diverter solutions business is located in Recklinghausen, Germany, and is an integral part of NEM Energy B.V. Formerly already known under the NEM brand, the company is active worldwide in the development, design, engineering, procurement, and supply of steam generators, covering a wide range of heat transfer applications, from industrial-sized waste heat boilers to large heat recovery steam generators for gas-fired power plants. The company is among the top three suppliers globally in terms of total number of units installed and a leading innovator in the field of both horizontal and vertical boilers.