Cryogenic Energy: Alfa Laval's Journey to Net Zero

Alfa Laval has taken a strategic leap in advancing clean energy solutions with the acquisition of Fives Energy Cryogenics, a move that strengthens its role in the global shift to sustainable energy systems. 

This acquisition not only enhances Alfa Laval’s technological portfolio but also reinforces its long-standing commitment to decarbonisation, energy efficiency and circularity.

Cryogenic innovation for net zero goals

Fives Energy Cryogenics, a recognised leader in cryogenic heat transfer and pump technologies, brings more than 65 years of engineering excellence. 

Headquartered in France with manufacturing operations in France, China and Switzerland, the company reported approximately €200m (US$234.3m) in revenue in 2024 and employs more than 700 people.

The newly acquired business will join Alfa Laval’s Energy Division as a separate business unit, with integration beginning immediately. 

This step enables Alfa Laval to expand its capabilities in critical technologies for the liquefaction, regasification and transport of gases such as LNG, hydrogen, carbon dioxide and nitrogen, each of which plays a pivotal role in the transition to cleaner fuels and carbon capture initiatives.

"This acquisition is a strategic milestone for Alfa Laval,” says Tom Erixon, CEO and President of Alfa Laval.

“By integrating Fives Energy Cryogenics' cutting-edge cryogenic technology to our portfolio, we are not only extending our technological capabilities but also reinforcing our commitment to driving the energy transition. 

“This acquisition positions us at the forefront of innovation in important future markets, enabling sustainable volume growth and value creation."

Global sustainability targets

The acquisition is well-aligned with international sustainability goals, particularly those outlined at COP28, which call for a doubling of energy efficiency improvements and a tripling of renewable energy adoption by 2030.

"According to the COP28 commitment, the world must double the rate of improvement in energy efficiency and triple the rate of renewable energy by 2030,” comments Thomas Møller, President Energy Division and Executive Vice President of Alfa Laval.

“Partnerships are essential for implementing the existing technologies and accelerate the deployment and commercialization of clean energy innovations.” 

This strategic move reflects Alfa Laval’s dedication to long-term sustainability through innovation, collaboration and technological excellence.

Alfa Laval’s sustainability strategy

Alfa Laval is recognised for embedding sustainability across its operations and solutions. 

Its strategy is built around four pillars: 

• Climate
• Circularity
• Caring
• Committed. 

The company is actively decarbonising its operations and helping customers do the same, while designing technologies that support circular economy principles and resource efficiency.

Alfa Laval has set science-based targets to achieve net zero carbon emissions across its value chain by 2050. 

It aims to reach net zero for Scope 1 and 2 emissions by 2027, three years ahead of schedule, and cut Scope 3 emissions by 50%.

The company’s heat transfer, separation and fluid handling technologies enable energy-intensive sectors to improve energy efficiency, lower emissions and support the uptake of low- and zero-carbon fuels.

Alfa Laval designs for reuse, recycling and process optimisation, ensuring that equipment lasts longer and resources are utilised as efficiently as possible.

The company’s systems help reduce water usage and emissions in food production and its investments in sustainable aquaculture support environmentally responsible food sources.

Alfa Laval upholds a culture of integrity, diversity and safety, both internally and with partners across its supply chain.

Through KPIs and annual sustainability reporting, the company provides clear and accountable updates on progress and impact.

Looking ahead

By acquiring Fives Energy Cryogenics, Alfa Laval is solidifying its position as a key enabler of the energy transition. 

The move enhances the company’s role in critical areas such as hydrogen, LNG and carbon capture, all central to a low-carbon future. 

It also highlights the importance of industry collaboration and innovation in meeting urgent global sustainability targets.

This acquisition not only marks a growth milestone for Alfa Laval, but also a meaningful step forward for the clean energy economy at large.