by Christoph Steitz
FRANKFURT (Reuters) – Thyssenkrupp launched the long-awaited IPO of its hydrogen division Nucera on Monday, with the sale of new shares expected to generate revenue of up to 600 million euros.
The initial public offering (IPO) is expected to be completed before the summer break, depending on market conditions, the company said.
“With our electrolysis technology, we want to shape a new era of energy transition,” said Werner Ponikwar, Managing Director of Thyssenkrupp Nucera.
The division, which is a 66%-34% joint venture with the Italian group De Nora, designs electrolyzers necessary for the production of green hydrogen. It competes with the Norwegian company Nel, the British ITM Power, the French McPhy Energy and the American Plug Power.
It focuses on alkaline water electrolysis, which Credit Suisse analysts predict will account for 60% of the global market by 2030, while proton exchange membrane water electrolysis will account for 60% of the global market by 2030. about a third.
( Dina Kartit, edited by Blandine Hénault)
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