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☆ Hydrogen Offers Germany a Chance to Take a Lead in Green Energy
▼ + stars: | 2024-04-30 | by ( Stanley Reed | Melissa Eddy | ) www.nytimes.com time to read: +1 min

In the city of Duisburg in Germany’s industrial heartland is a vast steel complex that is one of Europe’s largest polluters. If adopted widely, the devices could help clean up heavy industry, such as steel-making, in Germany and elsewhere. “We are maybe in one of those few very promising industries where Germany has a significant and very promising base,” said Werner Ponikwar, chief executive of ThyssenKrupp Nucera, which produces the electrolyzers. The company was spun off from ThyssenKrupp, a German steel giant, in 2023. Overall, German state and federal governments have earmarked €13.2 billion for investment in about two dozen projects to develop hydrogen.

Persons: ”, Werner Ponikwar, ThyssenKrupp Locations: Duisburg, Germany, ThyssenKrupp

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 28, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsLONDON, Nov 28 (Reuters) - The EU is falling behind Britain in tapping into savers' money to boost the stock market, despite reforms in continental Europe being a step in the right direction, an official with Germany's bourse told Reuters. For Maassen there is an opportunity in Europe to rival US capital markets. Maassen urged policymakers to speed up the implementation of the Capital Markets Union, a longstanding project to create a single market for capital beyond national borders. Earlier this month, European Central Bank President Christine Lagarde called for a capital markets union, with a single supervisor and trading infrastructure, to finance its digitalisation and green transition.

Persons: Stefan Maassen, Jeremy Hunt, Hunt, ThyssenKrupp, Maassen, Germany's, Christine Lagarde, Lagarde, Pablo Mayo Cerqueiro, Anousha Sakoui, Christina Fincher Organizations: REUTERS, Staff, Germany's bourse, Reuters, Capital Markets, Deutsche, Frankfurt Stock Exchange, Schott Pharma, OLB Bank, DKV, New York Stock Exchange, EU, Capital Markets Union, European Union, European Central Bank, ., Thomson Locations: Frankfurt, Germany, EU, Europe, we're, U.S

Earlier this month, she said the U.S. offshore wind industry was "fundamentally broken" after BP wrote down $540 million on its wind power projects offshore New York, blaming inflation and red tape that meant projects ran over budget and over time. Globally, the renewables sector has been undermined by slow permitting, technological challenges, rising raw material costs and higher costs of capital. As BP seeks to guarantee it can meet its internal returns target of 6% to 8% on renewables projects, Dotzenrath said BP was working out how to reduce costs globally. You need one of the local energy suppliers to help you push ahead with the permitting processes and establish the onshore grid connection," she said. BP does not produce electrolysers, which split water to produce hydrogen, but Dotzenrath said did not rule out greater involvement.

Persons: Chris Helgren, Anja, Isabel Dotzenrath, Norway's Equinor, Denmark's, Dotzenrath, we'll, Chancellor Olaf Scholz, Thyssenkrupp, Christoph Steitz, Ron Bousso, Barbara Lewis Organizations: BP, REUTERS, Reuters, Siemens Energy, BASF, Thomson Locations: Vancouver , British Columbia, Canada, LONDON, Japan, U.S, New York, U.S.A, Germany

"We're definitely seeing a bit of a soft open in the IPO market", said Lizzie Reed, global head of the ECM syndicate desk at Goldman Sachs. Arm and Instacart shares briefly fell below their issue price, suggesting there is still some way before the IPO market fully recovers. Medical glass producer Schott Pharma (1SXP.F) debuted on the Frankfurt Stock Exchange on Thursday, with shares closing 16% above the IPO price. Klaviyo's shares are now trading at a 21% premium to their IPO price. "For the IPO market to open more broadly in the first quarter in 2024 ... we need the 2023 IPO cohort to continue to perform well," said Josh Weismer, head of U.S. ECM, Mizuho Americas.

Persons: Lizzie Reed, Goldman Sachs, IPOs, Robert Stowe ,, Suneel Hargunani, Schott, ThyssenKrupp, Hidrolectrica, Ross Devor, ”, Samir A, Gandhi, Stephane Gruffat, SoftBank, Josh Weismer, Echo Wang, Pablo Mayo, Anousha Sakoui, David Holmes Organizations: Bankers, ECM, Arm Holdings, Barclays, Citigroup, Schott Pharma, Frankfurt Stock Exchange, Thoma Bravo, Deutsche Bank, Nvidia, Apple, Qatar Investment Authority, U.S, Mizuho, Pablo Mayo Cerqueiro, Thomson Locations: United States, Europe, British, New York, U.S, IPOs, East, Africa, Romanian, Qatar, Mizuho Americas, London

☆ Europe’s listless IPOs are red flag for big floats
▼ + stars: | 2023-07-31 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +4 min

And so far, the performance of the floats that have got away has been relatively poor. It’s a major red flag for larger IPO candidates, like CVC Capital Partners or EQT’s (EQTAB.ST) Galderma. Only 65 companies decided to brave choppy stock markets in Europe, raising $6.6 billion in overall proceeds, according to Dealogic data. Italian betting group Lottomatica (LTMC.MI) and German web-hosting company IONOS (IOSn.DE) priced at the bottom of their initial ranges. Dealogic data shows that IPOs in the region raised a total of $6.6 billion between the start of 2023 and July 20.

Persons: Breakingviews, Thyssenkrupp, Nucera, Hidroelectrica, Liam Proud, Oliver Taslic Organizations: Reuters, Capital Partners, underwriters, Bankers, Swiss, Reuters Graphics Reuters, Thomson Locations: Europe, Romanian, Saudi, Swedish

☆ Thyssenkrupp Nucera shares up in Frankfurt debut
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT/LONDON, July 7 (Reuters) - Shares in hydrogen firm Thyssenkrupp Nucera (NCH2.DE) traded at 20.20 euros ($21.97) in their market debut in Frankfurt on Friday, in an encouraging sign for Europe's capital markets. The opening price was higher than the 20 euros per share paid by investors in the initial public offering (IPO), which valued the company at around 2.5 billion euros. Nucera is a joint venture between Germany's Thyssenkrupp (TKAG.DE) and Italy's De Nora (DNR.MI). "The IPO is the start of an exciting new phase in our company's history," Nucera CEO Werner Ponikwar said during an opening ceremony at the Frankfurt Stock Exchange, adding that the firm will "accelerate the adoption of green hydrogen". ($1 = 0.9193 euros)Reporting by Christoph Steitz in Frankfurt and Pablo Mayo Cerqueiro in London; Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Thyssenkrupp, Germany's, Italy's De Nora, DNR.MI, Werner Ponikwar, Christoph Steitz, Pablo Mayo, Miranda Murray Organizations: Frankfurt Stock Exchange, Pablo Mayo Cerqueiro, Thomson Locations: FRANKFURT, LONDON, Frankfurt, London

☆ Thyssenkrupp Nucera CEO: IPO will help us to be seen in the market
▼ + stars: | 2023-07-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThyssenkrupp Nucera CEO: IPO will help us to be seen in the marketThyssenkrupp Nucera CEO Werner Ponikwar speaks to CNBC's Annette Weisbach. The clean energy firm made its Frankfurt debut on Friday.

Persons: Werner Ponikwar, CNBC's Annette Weisbach Organizations: Frankfurt

☆ Romania's Hidroelectrica tops $10 billion valuation in 'historic' IPO
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

BUCHAREST, July 5 (Reuters) - Romanian energy producer Hidroelectrica's IPO has been priced at 104 lei ($22.87) per share, it said on Wednesday, implying a market capitalisation of $10.3 billion in what a government minister described as a "historic success." "We are happy to see the strong investor interest which has driven a successful outcome," said Chief Executive Bogdan Badea. The stock will start trading on July 12 on the Bucharest bourse. The government will retain its 80% holding in the country's largest energy producer, which has power capacity of 6.3 gigawatts from 182 hydroelectric plants. The performance of the shares once they start trading will be watched closely.

Persons: Bogdan Badea, Fondul Proprietatea, Franklin Templeton, Sebastian Burduja, Austria's Verbund, Luiza Ilie, Pablo Mayo, Alexandra Schwarz, David Goodman Organizations: Bucharest bourse, U.S, EU, Bucharest Stock Exchange, Romanian Energy, CAB Payments, Bankers, Vienna Stock Exchange, Pablo Mayo Cerqueiro, Thomson Locations: BUCHAREST, Romanian, Bucharest, London

NEW YORK/LONDON, June 30 (Reuters) - A lackluster IPO market is showing signs of life as a flurry of deals in the United States and Europe raise hopes that a recovery may be in sight. With investors now predicting an end to the Federal Reserve's rate hikes later this year, optimism has resumed. This allowed thrift shop chain Savers Value Village (SVV.N) to raise $401 million in its New York IPO this week, more than it originally set out to. Investors continued to snap up its shares, with the stock closing up 27% on its first day of trading. EUROPE IPOS ON THE WAYIn Europe, three IPOs are on track to be completed by early July, but two of them have already had to moderate their valuation expectations.

Persons: Aloke Gupte, Tom Swerling, Paul Abrahimzadeh, Hidroelectrica, Fondul, WE Soda, Ferretti, Coty, Andrew Briscoe, David DiPietro, Rowe Price, Echo Wang, Pablo Mayo, Elisa Martinuzzi, Mark Potter Organizations: Investors, JPMorgan Chase &, CAB, Kodiak Gas Services, Fidelis Insurance Holdings, Barclays, North America, Citigroup, U.S, Heineken, General, GE Healthcare Technologies, Bank of, Pablo Mayo Cerquiero, Thomson Locations: United States, Europe, Ukraine, New York, London, Africa, Asia, Kodiak, Fidelis, Cava, EUROPE, Romanian, Hong Kong, Milan, East

☆ Thyssenkrupp hydrogen IPO calls for leap of faith
▼ + stars: | 2023-06-22 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +5 min

Once known as the Swiss army knife of climate change for its myriad potential applications in heating, heavy industry and vehicles, green hydrogen has fallen to earth. High fossil fuel prices have also made green hydrogen more affordable relative to other types made from gas. Yet green hydrogen is mostly confined to large-scale industrial usages like steel and ammonia manufacturing. López Borrego will do well to get his IPO away at 3 billion euros without a tangible discount. Switching an average European steel site to green hydrogen could cost 7 billion euros, according to a Hydrogen Europe report.

Persons: Miguel Ángel López Borrego, Thyssenkrupp, DNR.MI, Nucera, López Borrego, Nora, George Hay, Streisand Neto Organizations: Reuters, Nucera, Industrie, Energy, ITM, Mingyang Smart Energy, Reuters Graphics Reuters, Thyssenkrupp, European, Council, Thomson Locations: Frankfurt, Dortmund, U.S, Swiss, Saudi

June 16 (Reuters) - German bus services firm Flix, owner of the Greyhound brand in North America and FlixBus in Europe, has stepped up preparations for a possible stock-market listing, two sources familiar with the matter told Reuters. Flix has invited investment banks to pitch to manage its share sale in recent weeks, said the sources, who spoke on the condition of anonymity. U.S. corporate finance house Evercore (EVR.N) is advising Flix on the process, the sources said. Flix, set up in 2011 by three entrepreneurs in Munich to try to make bus travel cheap, runs bus and train services across 40 countries. So far this year, only one stock market listing has taken place in Germany, raising $479 million, according to Refinitiv data.

Persons: Flix, Evercore, IONOS, WE, Hidroelectrica, Emma, Victoria Farr, Pablo Mayo Cerqueiro, John O'Donnell, Barbara Lewis Organizations: Greyhound, Reuters, Atlantic, Thomson Locations: North America, Europe, Germany, Ukraine, Munich, Permira, BlackRock, London

It comes as hydrogen technology is getting a boost from favourable legislation in the United States and Europe, which are both seeking to strengthen the technology to help carbon dioxide-heavy industries, including steel and chemicals, to decarbonise. "A potential IPO would enlarge the financial flexibility of Thyssenkrupp Nucera and raise its profile as a leading supplier of technology for the production of green hydrogen," he said. The listing, which is run by Citi (C.N) and Deutsche Bank (DBKGn.DE), will primarily consist of new shares, Thyssenkrupp Nucera said. First-half sales were up 74% at 306 million euros, while the group's earnings before interest and tax rose 87% to 13.3 million euros. "With our electrolysis technology we want to shape a new era of the energy transition," said Werner Ponikwar, chief executive of Thyssenkrupp Nucera.

Persons: Nora, Italy's De Nora, DNR.MI, Miguel Lopez, Thyssenkrupp, Thyssenkrupp Nucera, De Nora, Nora's, Norway's Nel, Werner Ponikwar, Christoph Steitz, Tom Kaeckenhoff, Francesca Landini, Miranda Murray, Clarence Fernandez, Sharon Singleton Organizations: Reuters, Citi, Deutsche Bank, Thyssenkrupp, Britain's ITM, Energy, U.S ., Thomson Locations: FRANKFURT, DUESSELDORF, Ukraine, United States, Europe, U.S

☆ Thyssenkrupp Nucera to supply electrolysis plant in Sweden
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, May 22 (Reuters) - IPO candidate Thyssenkrupp Nucera (TKAG.DE) will supply more than 30 of its flagship electrolysers, which provide the technology needed to produce carbon-neutral steel via green hydrogen, to Swedish fossil-free steel startup H2 Green Steel. The deal highlights growing demand for hydrogen technology as a way to decarbonise CO2-heavy industrial production techniques, a field where Europe wants to compete globally with subsidy-rich regions, notably the United States. Sources told Reuters last month that Thyssenkrupp Nucera, a 66-34 joint venture between Germany's Thyssenkrupp (TKAG.DE) and Italy's De Nora (DNR.MI), was targeting a stock market listing in June at a valuation of up to 5 billion euros ($5.5 billion). A H2 Green Steel spokesperson said the agreement was worth several billion Swedish crowns, declining to comment further. Green hydrogen is created through renewables-powered electrolysis, whereby water is split into hydrogen and oxygen.

FRANKFURT, April 5 (Reuters) - Thyssenkrupp (TKAG.DE) may pick June to list its hydrogen business Nucera, provided equity markets are robust, three people familiar with the matter said, in what could be a multi-billion euro initial public offering. Plans to list Nucera, a 66%-34% joint venture between Thyssenkrupp and Italy's De Nora (DNR.MI), were put on the backburner last year due to unfavourable market conditions following the war in Ukraine and subsequent energy crisis. Nucera makes the electrolysers that are needed to produce green hydrogen - a sector that is currently benefiting from the U.S. Inflation Reduction Act and European Union initiatives to support the green energy transition. Thyssenkrupp Chief Executive Martina Merz, under pressure to deliver on her pledge to turn the sprawling conglomerate into a leaner and more focused holding, said last month that the group would make a new effort to list Nucera, without elaborating. When plans for a listing of the business were first communicated in 2021, analysts valued Nucera at between 3 billion and 6 billion euros.

☆ Exclusive: Hydrogen firm Thyssenkrupp Nucera says IRA spurring U.S. interest
▼ + stars: | 2023-03-09 | by ( Christoph Steitz | ) www.reuters.com time to read: +5 min

Thyssenkrupp Nucera held talks about several potential green hydrogen projects "with very concrete timelines" during a trip to the United States last week, Chief Executive Werner Ponikwar said in an interview. Green hydrogen, produced using renewable energy, is seen as key to decarbonising industry and so meeting climate targets. "We are gaining a new growth market," Ponikwar said. Ponikwar expects the U.S. hydrogen market to grow to a mid double-digit gigawatt (GW) amount by the end of the decade, from just a few hundred megawatts currently. While the IRA supports hydrogen production, it does not require makers of hydrogen equipment to produce locally, unlike other renewable technologies where that's a condition to qualify for credits.

☆ Thyssenkrupp Nucera's operating profit down on IPO prep costs
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Nov 25 (Reuters) - Germany's Thyssenkrupp (TKAG.DE) on Friday said that Nucera, its joint venture with Italy's De Nora (DNR.MI), saw its operating profit fall by two-thirds, citing costs related to preparations for a potential stock market listing and growth investments. Earnings before interest and tax (EBIT) for the business, which Thyssenkrupp said might go public via an initial public offering (IPO) at some point, fell to 9 million euros ($9.4 million) in the 2021/22 fiscal year ending September. This was partly due to a "mid-single digit euro million amount of non-recurring IPO preparation costs", Thyssenkrupp said in presentation slides, published as part of a capital markets update a week after full-year results. The slides also showed that sales for the division increased by a fifth, to 383 million euros, for an EBIT margin of 2.4%, down from 8.4%. ($1 = 0.9622 euros)Reporting by Christoph Steitz, editing by Rachel More and Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

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