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☆ 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

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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