Leading in boilers, process automation, and simulators

Powerspex – Masters in Process Automation

Powerspex was founded in 1997 and is a technical company specialized in process automation. The company was established by four former employees of Stork Boilers and is based in Hengelo (Ov) and Veenendaal. In 2009 it was acquired by NEM, which in turn was acquired by Siemens Energy AG in 2011. Following a management buy-out in 2013, Powerspex once again operates independently. The company currently employs approximately 120 people.

At the heart of energy supply

The company’s core activities involve delivering the process automation for boiler installations in the energy sector. Boiler systems are used to heat water and convert it into steam, which is then transformed into electricity and heat (for example, for district heating). The boilers generate heat by burning fuels. In the past this was done using fossil fuels, but today they also use bio-based fuels such as waste, sludge, and biomass. Within the industry, Powerspex is a well-known name and operates in the energy sector both in the Netherlands and abroad.

Other industries in which the company is active include the chemical and maritime sectors. For example, they collaborate with companies such as Damen Dredging Equipment to design the automation processes on board dredging vessels. This concerns, in particular, the configuration of the dashboard used to operate the ship. Such projects frequently come to Powerspex through former colleagues from Stork.

Strategic deployment of E-Boilers in a volatile energy market

When electric boilers (the so-called E-Boilers) are used, Powerspex also supplies these units. The boilers they deliver are sourced from a foreign manufacturer, as they are not produced in the Netherlands. The application of electric boilers is particularly attractive because of the enormous fluctuations in electricity prices. Their operation is programmed so that the boilers switch on when electricity prices are very low or even negative. This is especially interesting for Powerspex, as it allows them to apply both their automation expertise and their process knowledge.

Another important area of activity involves simulators. These simulate processes such as electricity generation, waste processing, and water and steam management. In these simulations, not only the process but also the process automation—particularly the operator interface—is replicated. This creates a training simulator that prepares operators before a new facility or installation is commissioned.

Recently, Powerspex acquired a company in Essen (Germany) that offers similar simulations for nuclear power plants.

It is common for foreign contracts to require bank guarantees. In this case, it concerned a recent transaction for an energy supplier in Belgium, which requested a performance guarantee and a maintenance guarantee. To avoid putting unnecessary pressure on its banking facilities, Powerspex obtains guarantee insurance from Atradius DSB. This allows the bank to release the guarantee amounts while ensuring that Powerspex maintains access to credit.

In the future, the use of E-Boilers is expected to become increasingly attractive abroad as well. This has already proven to be the case in Belgium. Powerspex will certainly continue to rely on the support of Atradius DSB in this regard.

In general, the shift in energy generation from fossil to sustainable sources offers significant opportunities for Powerspex. This applies not only to the energy sector but to all companies that require heat and electricity.

Contact

Would you like to learn more about how the products of Atradius Dutch State Business can support the growth of your company?

Visit our product page for more information.