https://newsletter.mw.creamermedia.com
Business|PROJECT|Projects|Service|Technology|ThyssenKrupp|Water
Business|PROJECT|Projects|Service|Technology|ThyssenKrupp|Water
business|project|projects|service|technology|ThyssenKrupp|water

Hydrogen demand powers record sales for Thyssenkrupp Nucera

ThyssenKrupp Nucera CEO Werner Ponikwar

ThyssenKrupp Nucera CEO Werner Ponikwar

13th February 2024

By: Reuters

  

Font size: - +

Thyssenkrupp Nucera on Tuesday posted record quarterly sales, citing rising demand for its electrolyser technology as the hydrogen firm remained upbeat about the sector's prospects despite regulatory uncertainty.

First-quarter revenue for the three months to December 31 rose by more than a third to €208-million ($224-million), mainly driven by the group's alkaline water electrolysis division, which comprises the fast-growing green hydrogen business.

CEO Werner Ponikwar played down concerns over proposed rules for hydrogen projects in the US, a key market for the industry due to the availability of tax credits, saying customers were not overly worried.

The US last month asked hydrogen producers to prove they have used clean electricity built within three years of a hydrogen plant going into service in order to get credits, stoking fears that the sector's expansion could be slowed down.

"We don't see that our clients and potential clients are very concerned about those developments. We believe ... most of them can live very well with that. And we're also seeing now that projects are progressing in their development," Ponikwar told analysts.

Thyssenkrupp Nucera shares were up around 1% at 15.09 euros at 0845 GMT but have retreated from their initial listing price of 20 euros last July.

The company, in which both Thyssenkrupp and De Nora hold stakes, confirmed its annual outlook, saying it still expects an operating loss of tens of millions of euros due to ramp-up costs.

That corresponds with analysts' expectations of a loss of €45.6-million, LSEG data shows.

Shares in hydrogen companies have been volatile in part due to project delays and start-up costs for a nascent technology that still requires subsidies to be profitable.

Thyssenkrupp Nucera has remained bullish on the sector, saying in December that all its projects remain on track and on schedule.

Edited by Reuters

Comments

Showroom

Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 
Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:2.051 2.154s - 126pq - 2rq
Subscribe Now