thyssenkrupp Nucera Thrives Amidst Market Challenges with Strong Order Book
Key Ideas
  • thyssenkrupp Nucera's strong order book of €271.3m in the third quarter showcases resilience in the face of market uncertainties, driven by demand in the alkaline water electrolysis sector.
  • The company's growth momentum has slowed due to regulatory issues and funding delays affecting customers' final investment decisions, despite reporting a net income of €1.4m in the first nine months of 2023/24.
  • thyssenkrupp Nucera's focus on chlor-alkali and green hydrogen businesses positions it well for challenging market conditions, with ongoing projects including a 20 MW water electrolyser in the US and a 2 GW plant in NEOM, Saudi Arabia.
  • Partnerships with companies like Cepsa in Spain and H2 Green Steel in Sweden highlight the company's commitment to decarbonization efforts and expansion in the renewable energy sector.
thyssenkrupp Nucera has reported a robust order book of €271.3m in the third quarter despite facing challenges in the market, including regulatory issues and funding delays impacting customers' investment decisions. While growth momentum slowed due to uncertainties in the green hydrogen market, the company's CFO, Dr. Arno Pfannschmidt, remains optimistic about its business model focusing on chlor-alkali and green hydrogen for decarbonizing heavy industry. The company's success is evident in the increasing demand for alkaline water electrolysis (AWE) solutions, with sales growing by 20% to €132.5m for the production of green hydrogen. thyssenkrupp Nucera's projects include a 20 MW water electrolyser in the US at CF Industries, contributing to decarbonization efforts in ammonia production. thyssenkrupp Nucera's global footprint extends to projects like the construction of a 2 GW water electrolyser plant in NEOM, Saudi Arabia, and collaborations with companies such as Cepsa in Spain for a 300 MW electrolyser. Additionally, partnerships with H2 Green Steel in Sweden signify the company's involvement in Europe's green steel initiatives. Despite delays in new projects due to regulatory challenges, thyssenkrupp Nucera continues to explore opportunities in regions like the United Arab Emirates, Spain, South America, and the US. The company's commitment to sustainable technologies and global expansion reflects its positive outlook amidst market complexities.
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