Enapter AG's Growth in Electrolyzers: Positive Half-Year Figures for 2024
Key Ideas
  • Enapter AG experienced a 73% increase in sales to EUR 8.3 million in the first half of 2024, compared to the same period in 2023.
  • The company's EBITDA significantly improved by EUR 4 million to EUR -3 million, showcasing positive financial growth.
  • Enapter received substantial orders for megawatt-class devices across various regions, with Italy's hydrogen initiative contributing to the momentum.
  • The delivery of the first AEM multicore electrolyzer in the megawatt class to SIZ Braunschweig marks a milestone for Enapter's green hydrogen production.
Enapter AG, based in Hamburg, Germany, has reported a successful first half of 2024, demonstrating significant growth in their electrolyzers. The company confirmed its forecast for 2024 based on positive development. Enapter received new orders for megawatt-class devices from regions like Germany, Europe, Asia, the USA, and particularly Italy. The Italian government's hydrogen initiative 'Hydrogen-Valleys' has been instrumental in driving Enapter's growth. Notably, the delivery of the first AEM multicore electrolyzer for commercial use to SIZ in Braunschweig was highlighted, showcasing the company's capability to produce green hydrogen. Enapter's partnership with Clean H2 Inc. in the USA has also flourished, resulting in significant orders for electrolyzers. In the first half of the year, Enapter secured orders worth EUR 23.4 million, representing a substantial increase from the previous period. Financially, sales grew by 73% to EUR 8.3 million, and EBITDA improved by EUR 4 million to EUR -3 million. Enapter reaffirmed its revenue forecast for 2024 at around EUR 34 million. The company's technology, based on AEM electrolyzers, eliminates the need for rare raw materials and allows efficient green hydrogen production. Enapter operates in over 50 countries, focusing on energy storage, industrial applications, and power-to-X solutions.
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