Clean Logistics is taking over truck manufacturer GINAF Nederland

The truck and bus retrofitter Clean Logistics has completely taken over the Dutch truck manufacturer GINAF Nederland. With this acquisition, Clean Logistics intends to expand its activities far beyond the current conversion business.

GINAF is itself active in the conversion and production of trucks in various application areas such as construction, road cleaning and waste disposal as well as agriculture and mining. However, the Dutch OEM also develops and produces fully electric, zero-emission trucks. According to the statement, these vehicles use battery-electric components as well as a hydro-pneumatic suspension system and a self-developed hydraulically driven front axle system.

Clean Logistics will pay up to 4.8 million euros for the acquisition. A cash purchase price of 1.8 million euros and 107,143 shares in Clean Logistics SE, which will be issued as part of a capital increase through contributions in kind, were agreed. Since the share was valued at 14 euros for the agreement, this corresponds to 1.5 million euros. Another 107,143 shares or 1.5 million euros will be paid out as an earn-out component “under certain conditions from a convertible bond”.

According to Clean Logistics, the takeover will put the company in a position to provide for the independent production of trucks and buses with emission-free hydrogen drive within the group of companies. Additionally, the company, which has been active as a retrofitter up to now, will also take over the status of an independent vehicle producer (OEM) with the corresponding registration requirements for its own vehicles in Europe from GINAF.

Clean Logistics says it sees considerable market opportunities for electrified commercial vehicles, for example against the background of the phasing out of internal combustion engines for passenger cars and LCVs in the EU from 2035 and the discussions in many large cities about imposing driving bans for conventional drives. In the future, the company intends to benefit from GINAF’s experience in the range from 3.5 tonnes up to 50 tonnes of special machines.

GINAF’s production facility is located in Veenendaal, the Netherlands, where up to 200 vehicles of more than 3.5 tonnes can be built per year.

“GINAF’s solutions are an excellent addition to our portfolio. GINAF has decades of know-how in heavy-duty transport, experience in the approval of series-production vehicles and the associated homologation as an OEM,” says Dirk Graszt, CEO of Clean Logistics. “Clean Logistics has developed Fyuriant, an emission-free H2 40-tonne truck, and Pyuron, a hydrogen-based public transport bus. Together we will become an independent European manufacturer of battery-electric and fuel cell-electric vehicles in the transport sector at the highest technical level.”

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