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The "Made in Italy" fund, which was approved in May, will have an initial endowment of 700 million euros ($756 million) in 2023 and an additional 300 million next year in state cash. Saudi Arabia will focus on energy, sustainability, supply chains and sport to expand its presence in Italy, Investment Minister Khalid al-Falih said at the same event. Italian exports to Saudi Arabia totalled just over 4 billion euros in 2022, much from manufacturing, while imports totalled more than 7.4 billion euros, the bulk from oil products. Also at the Milan event, leading Italian energy company Eni (ENI.MI) and Saudi Acwa Power (2082.SE) agreed to jointly develop a green hydrogen project in the Middle East and Africa. Saudi Arabia has a well advanced project dubbed NEOM to produce green hydrogen at home while Italy so far has not developed yet any plan to produce it in significant quantity.

Persons: Adolfo Urso, Giorgia Meloni, Meloni, shrugging, Urso, Khalid al, Falih, Power, De Nora, Giuseppe Fonte, Keith Weir, Angus MacSwan, Alexander Smith Organizations: Energy, Italy's Industry, Reuters, Italy's, Investment, European Union, EU, Saudi, Eni, Saudi Acwa, Thomson Locations: Italy, MILAN, Saudi Arabia, Saudi, Rome, Riyadh, Milan, Kingdom, Meloni, East, North Africa, Russia, Africa

☆ 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 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

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.

☆ She met her long lost cousin on a cruise ship
▼ + stars: | 2023-04-13 | by ( Francesca Street | ) edition.cnn.com time to read: +8 min

The following year, 2015, Eileen celebrated her 70th birthday with a voyage on board Cunard’s Queen Elizabeth cruise ship. She was in shock when she met Paddy at the cruise bar. “We compared stories of travels around the world.”Transatlantic friendshipHere's Paddy, Hazel, Gerard and Eileen photographed on board the Queen Elizabeth cruise ship in 2015, not long after they met. Monaghan familyFor the remaining two weeks of the cruise, the two long lost cousins and their spouses were inseparable. Eileen has also met a whole host of other Irish family members through Paddy.

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.

☆ Goldman names 2 global stocks to play the 'clean hydrogen revolution,' giving one 50% upside
▼ + stars: | 2023-02-20 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The boom in clean hydrogen is picking up pace, according to investment bank Goldman Sachs. "The clean hydrogen revolution continues to accelerate," analysts at the bank said in a Feb. 13 note. The cleanest type — green hydrogen — uses energy from renewable sources, while so-called blue hydrogen is produced from natural gas. Industrie De Nora Goldman said De Nora is a key beneficiary of the IRA incentives given its high exposure to U.S. sales. Goldman gave the stock a price target of 24 euros ($25), or potential upside of nearly 30%.

☆ 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.

Ceremoniile cunoscute sub numele de cod Forth Bridge au luat sfârșit, iar sicriul prințului Philip a fost coborât în cripta regală din capela Saint George. Regina Elisabeta a II-a și-a luat astăzi adio de la Philip, prințul ei viking, cum îi plăcea să-i spună, după 73 de ani de căsnicie. Sicriul a fost scos din locul unde a stat timp de 8 zile și a fost plasat pe un Land Rover, special modificat pentru acest moment. Imaginea datează din 2003 și a fost realizată în Scoția de nora cuplului regal, Sophie, contesă de Wessex, în timpul unei vacanțe. Elisabeta și Philip poartă ținute de picnic, sunt relaxați și zâmbitori.

Persons: Philip, Saint George, Regina Elisabeta a II, Prințul Philip, suverana, William, Harry, Saint George de diaconul de Windsor, regina Elisabeta a II, George, Canterbury, reginei Elisabeta, Casa, de, Elisabeta ., Sophie, contesă de Wessex, Elisabeta, . Elisabeta a II, consort Organizations: Forth Bridge, Rover, Marina Regală, Marinei Regale, Royal Navy, Casa Regală Locations: Saint, Castelul Windsor, Regatului Unit, Canterbury, St, de Edinburgh, Scoția

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