Thyssenkrupp Nucera's Optimistic Outlook on Temporary Hydrogen Market Lull
Key Ideas
  • Thyssenkrupp Nucera's CEO believes the current slowdown in the hydrogen market is temporary and the company plans to double its workforce in the next three years.
  • The company reported a 42% drop in order intake due to regulatory uncertainty and financing issues, but remains optimistic about future market growth over the next two decades.
  • Thyssenkrupp Nucera sees opportunities in hydrogen projects in Europe and the U.S., with plans to expand to regions like Australia and the Middle East in the future.
  • The company expects to benefit from the German government's efforts to accelerate hydrogen projects and facilitate the transition from gas-based projects to hydrogen with the help of carbon capture and storage provisions.
Thyssenkrupp Nucera, a major electrolysis plant supplier, is facing a temporary slowdown in the global hydrogen market. The CEO, Werner Ponikwar, remains optimistic about the future, stating that the current lull is expected to be short-lived. The company reported a significant drop in order intake, citing regulatory uncertainty and challenges in securing financing as key reasons. Despite this setback, Thyssenkrupp Nucera plans to double its current workforce in the coming years. The company holds orders worth nearly 1 billion euros and anticipates strong market growth in the next 10-20 years. Thyssenkrupp Nucera is focusing on expanding in the EU and U.S. markets initially, with future plans to enter markets in Australia and the Middle East. The company also expects to benefit from the recent decisions by the German government to accelerate hydrogen projects and facilitate the shift from gas-based projects to hydrogen by incorporating carbon capture and storage measures. Ponikwar highlighted the importance of pro-hydrogen legislation under the United States' Inflation Reduction Act and mentioned that major projects are currently concentrated in southern Europe. Overall, Thyssenkrupp Nucera's positive outlook on the hydrogen market's temporary halt is supported by its strategic growth plans and the anticipation of market expansion both in Europe and beyond.
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