Modalis, a French intermodal logistics provider, recently acquired Air Flow, which specializes in hydrogen and industrial gas transportation.
The merger, which follows the recent additions of Altech and Italian intermodal trailer and swap body manufacturer CCFC, is intended to accelerate the development of projects dedicated to decarbonization and “new-energy logistics,” according to the company, which is aiming for 2024 revenues of $110 million.
“We are delighted to welcome the Air Flow teams, renowned for their expertise in hydrogen and carbon capture logistics,” Bernard Meï, Modalis chairman, said in a news release. “This acquisition will enable Modalis to accelerate its development in new-energy logistics, generate significant synergies in the industrial, commercial and R&D fields, and boost our activities beyond Europe’s borders.
“The two Aixen-Provence-based companies together now form an intermediate-sized business, with very strong growth momentum in terms of investment, staff numbers, and international activity.”
The company delivers to customers in more than 100 countries, employs almost 90 people, and generated approximately $33 million in 2023 revenues.
Air Flow’s expertise in hydrogen logistics enables it to offer flexible solutions for the supply, storage, transportation, and maintenance of hydrogen tanks, Modalis said. In turn, Modalis and Altech are focusing on the specific constraints of hydrogen carriers such as ammonia, and the related loading infrastructures and storage facilities.
Together, the two companies will offer a full hydrogen logistics solution, from storage to distribution, incorporating advanced technologies to address the needs of long-haul transportation.