O&L pulls out of Cleanergy Solutions
TIRI MASAWI
Ohlthaver & List have announced their decision to leave their partnership with CBM TECH Cleanergy Solutions.
Their 51% stake will be taken over by H2 Infra NV, a subsidiary of CMB . TECH after regulatory approval from the Namibia Competition Commission(NaCC.
This will see CBM. TECH taking over the whole project as a majority shareholder.
A memo written to staff by O&L Executive Chairman Sven Thieme confirmed the development.
“I herewith wish to share an important update regarding one of our pioneer ventures.ClamEnergy Namibia. H2Infra NV, a subsidiary of CMB. TECH will become the sole shareholder of the Cleanergy Solutions. Acquiring the 52% currently held by O&L Group. The Transaction is pending the approval of the Namibia Competition Commission,” Thieme said to his staff.
He said the company is proud to have played a part in the green hydrogen transition and will continue to work with CMB TEC in other ventures in the future.
“As O&L, we are immensely proud of our role in co-founding Cleanergy and laying the cornerstone of Namibia’s green hydrogen future. This milestone reflects our longstanding purpose of creating a future where we enhance life and our commitment to pioneering industries that empower Namibia’s economy and enable sustainable, future-ready opportunities,” he said an official statement .
The company said ehe establishment of Cleanergy Solutions Namibia marked a historic step in the country’s journey toward developing a green hydrogen economy.
Commenting on the transition, a spokesperson for CMB.TECH said: “We are deeply grateful to O&L for their foundational contributions and collaborative spirit throughout our joint venture. Together, we successfully delivered Namibia’s first public green hydrogen refuelling station—a landmark achievement that demonstrates the power of partnership and innovation. As we assume full ownership, we want to reassure all stakeholders that Cleanergy’s future plans and projects will continue as planned. Our commitment to local impact, environmental responsibility, and innovation remains unwavering. With a growing team of employees, we are eagerly looking forward to the next project phases, including ammonia production, storage, berthing and pipeline development.”
This transition enables O&L to continue its pioneering legacy by strengthening its business portfolio and pursuing new ventures that set benchmarks for Namibia’s future. The Group remains committed to supporting national sustainability priorities through innovation, collaboration and strategic investment while exploring growth opportunities that advance economic development, industrial diversification and long-term prosperity.
“While our shareholder chapter in Cleanergy comes to an end, our partnership story with CMB.TECH does not,” said Sven Thieme. “We look forward to continued collaboration with CMB.TECH on future pioneering projects that advance Namibia’s and Africa’s energy transition.”
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