German industrial engineering and steel production conglomerate thyssenkrupp AG plans to break out its hydrogen business into a new subsidiary named thyssenkrupp nucera as it explores the possibility of an initial public offering.
The subsidiary is currently known as thyssenkrupp Uhde Chlorine.
"It is our aim to become the number one technology leader for large-scale industrial green hydrogen production in the alkaline water electrolysis market", said Denis Krude, chief executive of thyssenkrupp nucera.
As of December 31, the order backlog for green hydrogen is around 900 million euros (1.03 billion dollars).
By 2024/2025, the business targets to drive alkaline water electrolysis and achieve around 600-700 million euros of revenues and continue to grow strongly thereafter.
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
