Dexon Technology PLC Fuels European Expansion and Supports Hydrogen Energy Transmission with EUR 651,000 Investment in Dexon Technology Europe
Dexon Technology PLC (Dexon) has unveiled plans to inject an initial EUR 651,000 into its newly registered European subsidiary, Dexon Technology Europe (Dexon Europe), as part of its ambitious expansion strategy in the region. The decision, approved by Dexon's board of directors on May 5, 2023, comes after the successful capital raising from the company's recent listing on the Stock Exchange of Thailand's Market for Alternative Investments (MAI).
Located in Tholen, The Netherlands, Dexon Europe's Dutch office has strategically chosen its location due to its proximity to Europe's major ports, the Port of Rotterdam and the Port of Antwerp, as well as its central position within the European continent. Dexon Europe's primary focus will be providing cutting-edge smart pigging services for both onshore and offshore oil and gas pipelines, as well as furnaces (fired heaters).
Europe is at the forefront of the global transition to hydrogen energy, with the European Commission setting a target to produce 10 million tons of renewable hydrogen by 2030 and import an additional 10 million tons within the same timeframe. This transition necessitates the adaptation of existing infrastructure to facilitate hydrogen production, transportation, and storage, including oil and gas pipelines. Extensive inspection is required to ensure the safe operation of these pipelines during hydrogen transportation.
Transporting hydrogen through carbon steel pipelines presents various cracking threats, both general to all steel pipelines and specific to hydrogen. Hydrogen embrittlement weakens steel, reducing the pressure and load capacity of pipelines, and potentially leading to hydrogen-induced cracking (HIC) and hydrogen-induced stress corrosion cracking (HISC). Material engineers have been grappling with hydrogen embrittlement for decades, as the presence and absorption of hydrogen atoms can render steel more brittle and increase the risk of ruptures and explosions in pipelines. This risk extends to the transportation of hydrogen through steel pipelines, as hydrogen absorption over time makes them more susceptible to embrittlement. Dexon Technology, as a pipeline inspection and maintenance company, recognizes the risks associated with hydrogen embrittlement and is prepared to assist clients in ensuring the safety and reliability of their infrastructure as the world embraces hydrogen.
Dexon's UT-CS Hawk ILI System, introduced in late 2022 with the successful inspection of a 108km pipeline in Southeast Canada, has been specifically designed to detect and size sub 1.0 mm cracking in oil and gas pipelines.
With its expertise in pipeline inspection and the innovative UT-CS Hawk ILI system, Dexon is well-positioned to play a vital role in Europe's transition to hydrogen energy. The EUR 651,000 investment in Dexon Technology Europe will facilitate the expansion of operations and enable the company to provide its services to clients across the continent.
This investment in Dexon Technology Europe underscores the company's dedication to global expansion and its aim to become a frontrunner in pipeline inspection technology. As the world increasingly embraces renewable energy sources, new inspection technologies are crucial to meet the growing demand and ensure the safety of future energy production and transportation assets. Dexon is poised to seize the opportunities presented by this burgeoning market.
