French intermodal logistics solutions provider Modalis Group has announced the acquisition of Air Flow, a hydrogen and industrial gas logistics specialist. It follows Modalis’ purchases of engineering firm Altech and CCFC, an Italian manufacturer of swap bodies and road-rail semi-trailers.
Founded in 2004 and like Modalis based in Aix-en-Provence, in southern France, Air Flow offers transport and storage solutions for all gas types (hydrogen, oxygen, carbon dioxide, liquefied natural gas). It has one of the largest multimodal equipment fleets, including 400 cryogenic containers and around 100 high-pressure multi-tube gas containers.
With logistics hubs in Antwerp, Algeciras, Singapore and Houston, the company has customers in more than 100 countries. It employs around 90 staff, and its projected turnover for 2023 is 30 million euros.
Hydrogen and LNG logistics offering
Air Flow has expertise in hydrogen logistics services encompassing hydrogen tank supply, storage, transportation and maintenance. In turn, Modalis and its engineering office, Altech, focus on the specific constraints of hydrogen carriers such as ammonia, especially the related loading infrastructures and storage facilities.
Together, they plan to offer a full hydrogen logistics solution, from storage to distribution, incorporating advanced technologies to address long-haul transportation needs.
CO₂ capture logistics development
Carbon capture, storage and recovery are viewed as essential for decarbonisation, particularly in the absence of viable alternatives. Like hydrogen, these solutions are considered by the Intergovernmental Panel on Climate Change (IPCC) and the European Commission to be key in reducing emissions from heavy industry (cement, chemicals, steel) and other sectors (paper mills, waste incineration).
While pipeline transportation is preferred, logistics solutions, such as cryogenic rail transport to CO₂ export hubs, are a strategic area for the Modalis Group and with Air Flow, they will combine their expertise “to unlock new development prospects, covering the entire carbon capture logistics chain, with pilot projects already underway in Europe.”
Further expansion
With the acquisition of Air Flow, Modalis is eyeing a turnover of 100 million euros in 2024, most of which will be generated outside of France. Together, the two companies will offer equipment with a capacity of 6,000 TEUs for all types of transportation.
The Group plans to pursue its 120 million-euro investment programme to enhance its fleet and is considering further acquisitions in 2025.