Green hydrogen producer Thyssenkrupp Nucera unveils growth plans
- August 29, 2023
- Posted by: Quatro Strategies
- Categories: ESG & Renewable Energy, Europe
Thyssenkrupp Nucera, a company that produces green hydrogen, announced its growth plans after reporting strong sales and operating income. The company aims to meet the growing demand for green hydrogen, which is considered crucial for decarbonizing the German economy.
Chief Executive Werner Ponikwar stated that a global workforce expansion is necessary to achieve their growth targets. The company, which is majority-owned by Thyssenkrupp, also plans to expand production to new locations, including India.
Green hydrogen, produced using renewable energy, is still in its early stages but has been identified as a key energy source for reducing carbon emissions in Germany and other European Union countries.
Nucera reported its first financial results since going public, with earnings before interest and taxes (EBIT) increasing by 59% year-on-year to 7 million euros in the third quarter of its 2022/23 financial year. Sales nearly doubled to 187.5 million euros, mainly driven by its alkaline water electrolysis.
Nucera’s shares rose by up to 5% following the release of the results. The company confirmed its mid- and long-term targets but warned that spending on its growth strategy would affect its EBIT margin. The company expects its EBIT margin to turn negative in the next quarter but still anticipates a positive result for this financial year.
Nucera plans to invest all available funds in growth and will forego a dividend for the foreseeable future.
Interested in learning more?
Sign up for Top Insights Today
Top Insights Today delivers the latest insights straight to your inbox.
You will get daily industry insights on
Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.
Read more insights
Trump eyes overhaul of AI chip export rules to boost trade leverage
The Trump administration is considering a major overhaul of a Biden-era export control rule that governs global access to advanced U.S. artificial intelligence (AI) chips, a shift that could further weaponize semiconductors as a tool of U.S. trade diplomacy. The rule in question, known as the Framework for Artificial Intelligence Diffusion, was introduced in January by the U.S. Department of Commerce to regulate who can receive the most advanced AI chips and under what conditions.
It is scheduled to take effect on May 15. Currently, the rule divides the world into three tiers. Seventeen allied countries, plus Taiwan, are in Tier 1 and have unrestricted access to AI chips. Around 120 other countries are in Tier 2 and face strict volume caps on how many chips they can import. Tier 3 includes countries such as China, Russia, Iran, and North Korea, which are banned entirely from receiving these semiconductors.
China’s copper smelters face disruptions as new regulations curtail scrap supply
Chinese copper smelters are facing potential disruptions in scrap metal supply as new regulations aimed at ensuring fair competition inadvertently reduce available feedstock. The Fair Competition Review regulation, scheduled to be enforced in August, prohibits local tax benefits without specific approvals, impacting many of…
Saudi Arabia pre-positions oil as U.S.-Iran conflict risk rises
Saudi Arabia’s decision to lift output and exports as a contingency against a potential U.S. strike on Iran is a classic example of how the kingdom uses spare capacity and logistics flexibility as a strategic stabilizer, yet the fact it is being activated at all is a reminder that the market is again pricing the Gulf as an active geopolitical risk theater, not a background variable.
Riyadh is increasing production and exports now so it can push more barrels into the system quickly if a disruption hits, with an explicit intention to reverse course later and remain compliant with its OPEC+ quotas if the feared shock does not materialize.