Thyssenkrupp nucera Reports Significant Sales Growth in Green Hydrogen Sector

thyssenkrupp nucera has noted a substantial increase in sales within its alkaline water electrolysis (AWE) segment, which is aimed at producing green hydrogen. Despite encountering market challenges, the company achieved a 59% rise in sales in the second quarter and first half of the 2023/2024 fiscal year. The growth is attributed to several large-scale project advancements and strategic partnerships.

Significant milestones include the start of the commissioning phase for CF Industries' electrolysis plant in Louisiana, marking the introduction of thyssenkrupp nucera's 20 MW high-performance electrolyzers into industrial use. Collaborations with Fraunhofer IKTS on high-temperature electrolysis and the U.S. Department of Energy to scale up production capabilities underline their strategic growth initiatives.

Alongside the technological advancements, the company announced new contracts in Europe and a partnership with Cepsa for a 300 MW AWE plant in Spain. Nonetheless, the business experienced a contraction in order intake due primarily to delays in customer final investment decisions, highlighting the challenges in market conditions and regulatory settings impacting the green hydrogen industry.

The financial outlook remains optimistic with an emphasis on scaling the AWE operations to bolster long-term competitiveness and profitability. thyssenkrupp nucera anticipates an increase in orders and has maintained its sales forecast for the 2023/2024 fiscal year, expecting substantial growth driven by AWE projects.