Nanofilm Technologies in Singapore is set to acquire the remaining stake of its majority-owned hydrogen technology solution provider, Sydrogen, from Temasek’s unit Venezio Investments for S$15 million. This move will increase Nanofilm's ownership to 100% from the current 65%. Sydrogen, a joint venture focusing on hydrogen production, storage, and utilization, has reported a net tangible asset value of S$26.8 million and a book value of S$105.6 million based on its financials for the year ended Dec 31, 2024, with a net loss before tax of about S$4.9 million in FY2024. The acquisition will occur in two tranches, the first constituting 11.67% of Sydrogen’s share capital for S$5 million in November 2025, and the second comprising 23.33% for S$10 million in November 2026. Nanofilm plans to fund the S$15 million consideration internally. This strategic move reflects Nanofilm’s confidence in the hydrogen market's potential for growth. By owning all of Sydrogen's shares, Nanofilm aims to enhance management control, integrate technologies, and leverage global infrastructure for scale and commercial acceleration. The acquisition's impact on Nanofilm's financials is significant, with the potential to increase the company's net tangible assets per share. The transaction's timing considerations show different outcomes depending on when the acquisition is accounted for. Despite a slight decrease in Nanofilm's share price before the acquisition announcement, the company remains optimistic about the long-term benefits of this strategic move.