Thyssenkrupp to go for IPO for electrolysis business

Thyssenkrupp to go for IPO for electrolysis business

German industrial firm Thyssenkrupp is planning to list its electrolysis business Thyssenkrupp Nucera in Frankfurt, in an initial public offering that is expected to raise around EUR500-600 million.

The firm said that the listing, expected to be completed before the summer break, would help drive strong growth of Nucera’s alkaline water electrolysis technology business.

“We want to further increase Thyssenkrupp Nucera’s visibility as a global electrolysis technology leader for green hydrogen,” said Thyssenkrupp CEO Miguel Angel Lopez Borrego. “Our goal is to participate significantly in the growth of one of the key enablers of the green transformation.”

Werner Ponikwar, CEO of Thyssenkrupp Nucera said: “Green hydrogen is a key factor for the decarbonization of the industry and thus the achievement of climate protection targets. Our technology produces green hydrogen on a large scale and supports our customers on their way to climate neutrality.”

Thyssenkrupp plans to retain a majority stake in the business. Italy’s Industrie De Nora, currently holding 34% of Thyssenkrupp Nucera, said it is committed to its long-standing partnership with the company.

The offering is anticipated to consist primarily of newly issued ordinary shares from a capital increase (Primary Offering). The total number of shares to be offered in the IPO, in addition to other relevant terms, will be determined prior to the launch of the IPO.

thyssenkrupp nucera is a provider of technologies for high-efficiency electrolysis plants. Their green hydrogen technology enables customers to minimiSe their carbon footprint and transform their operations into net zero. With over 600 projects, 240,000 electrolytic cell elements produced and over 10 GW of electrolySer capacity installed, Thyssenkrupp Nucera is a technology leader in the chlor-alkali sector.

Its experience in the chlor-alkali business stretches over five decades, providing a strong basis for the development and upscaling of its alkaline water electrolysis (AWE) business. AWE is an industrial-scale green hydrogen production technology for the company.

Renewable energy is expected to be the primary energy source in the future.