MEP urges to block Nowi acquisition by Nexperia

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Nexperia shouldn’t be allowed to take over energy-harvesting expert Nowi, according to Dutch Member of the European Parliament Bart Groothuis. Nexperia’s Chinese ownership worries Groothuis, who fears crucial intellectual property and earning power will end up in China. “Look at what happened with solar panels and batteries. I don’t want that to happen with hydrogen and chips,” he said on Dutch radio.

Credit: Nowi

Groothuis called on the Dutch Minister of Economic Affairs Micky Adriaansens to block the acquisition. She’ll have the power to do so once parliament passes a new law that was drawn up for the express purpose of protecting sensitive technology. This law is expected to come into force early next year and can be applied retroactively. If Adriaanses refuses, Groothuis said he’ll push for a European intervention.

Groothuis’ appeal follows a decision by the UK government to block Nexperia’s acquisition of a wafer fab in Wales. Secretary Grant Shapps said the takeover poses a national security risk due to the potential of the facility “to undermine UK capabilities.”

Nexperia told Financieele Dagblad it’s surprised that Groothuis hasn’t contacted the company. A spokesperson assures that Nexperia is based in the Netherlands and all decisions are made in its headquarters in Nijmegen. Nowi CEO Simon van der Jagt told the newspaper that Chinese ownership hasn’t been an issue at all.