2G Energy Secures EUR 17.5 Million Order for Hydrogen-Capable CHP Systems in the US
Key Ideas
  • 2G Energy has secured a significant EUR 17.5 million order to equip 32 nursing homes in California with hydrogen-capable CHP systems.
  • The company's Q3 order intake reached EUR 80.4 million, a 91% increase from the previous year, with an order backlog exceeding EUR 230 million by the end of the quarter, indicating strong future sales.
  • Interest in decentralized CHP systems, particularly in Eastern Europe, remains high, showcasing 2G Energy's technological leadership in the industry.
  • The advance payment for the recent order is expected to positively impact the next quarter's financial results, with high capacity utilization forecasted through the second half of 2025.
2G Energy, a renowned provider of combined heat and power (CHP) systems, has recently secured a significant order in the United States amounting to EUR 17.5 million. This contract entails the installation of hydrogen-capable CHP systems in 32 nursing homes located in California. The order contributes to 2G's impressive financial performance, with a record order intake of EUR 80.4 million in the third quarter, a substantial increase of 91% compared to the previous year. Additionally, the company's order backlog has surpassed EUR 230 million by the end of Q3, indicating a promising outlook for future sales. The anticipated high capacity utilization until the second half of 2025 aligns with the persistent interest in decentralized CHP systems, particularly in Eastern Europe. This recent achievement not only underscores 2G Energy's technological excellence in the field but also promises positive financial outcomes, as a significant portion of the advance payment for the order is set to be recognized in October, further enhancing the upcoming quarter's results.
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