thyssenkrupp Lists Hydrogen Business on Frankfurt Stock Exchange, Raises €526 Million in Successful IPO

Paolo Dellachá, Managing Director De Nora Group; Oliver Burkhard, CHRO thyssenkrupp AG, Miguel Àngel Lòpez Borrego, CEO thyssenkrupp AG, Klaus Keysberg, CFO thyssenkrupp AG, Volkmar Dinstuhl, Chairman of the Supervisory Board thyssenkrupp nucera, Werner Ponikwar, CEO thyssenkrupp nucera, Arno Pfannschmidt, CFO thyssenkrupp nucera © thyssenkrupp AG

(IN BRIEF) thyssenkrupp has successfully listed its hydrogen business, thyssenkrupp nucera, on the Frankfurt Stock Exchange. As one of the world’s leading suppliers of electrolysis plants for green hydrogen production, thyssenkrupp nucera raised approximately €526 million through the IPO. The funds will be used to further expand the hydrogen business. thyssenkrupp will retain a stake of at least 50.2 percent in the hydrogen business. The IPO attracted cornerstone investors such as the Saudi Arabian sovereign wealth fund PIF and a fund managed by BNP Paribas. thyssenkrupp nucera has a strong order backlog worth around €1.4 billion, representing over 3 GW of installed electrolysis capacity. The company expects significant sales in the upcoming fiscal year, contributing to the decarbonization of various industries. Green hydrogen production is crucial for achieving climate protection targets.

(PRESS RELEASE) ESSEN, 7-Jul-2023 — /EuropaWire/ — thyssenkrupp (ETR: TKA), a German multinational industrial engineering and steel production conglomerate, announces that it has achieved a successful listing of its hydrogen business, thyssenkrupp nucera, on the Frankfurt Stock Exchange (Prime Standard). thyssenkrupp nucera is a leading global supplier of electrolysis plants for green hydrogen production. The initial public offering (IPO) has raised approximately €526 million in gross proceeds, which will be invested in the expansion and growth of the hydrogen business. thyssenkrupp will retain a stake of at least 50.2 percent in its hydrogen business, with the possibility of further share allocations to stabilize the share price (greenshoe option).

Miguel Ángel López Borrego, Chief Executive Officer of thyssenkrupp AG: “We achieved our goal and successfully floated our hydrogen business in a challenging capital market environment. This gives the company sufficient financial scope to grow further and expand its leading market position in the production of green hydrogen. We are convinced of the considerable development potential of thyssenkrupp nucera and will support the growth of the company, which is essential for the decarbonization of many industries, in the long term. The IPO is an important step in the transformation process of the entire thyssenkrupp Group.”

During the IPO, over 30 million shares were placed, including over 26 million new shares, at an offer price of €20 per share. The market capitalization of thyssenkrupp nucera now stands at approximately €2.53 billion. The gross proceeds from the sale of new shares amount to around €526 million. The Saudi Arabian sovereign wealth fund PIF and a fund managed by the French bank BNP Paribas have secured a significant portion of the shares as cornerstone investors. thyssenkrupp’s previous joint venture partner, De Nora, will retain a stake of at least 25.9 percent in thyssenkrupp nucera, with the possibility of further share allocations to stabilize the share price (greenshoe option).

thyssenkrupp nucera boasts a strong order backlog worth around €1.4 billion, representing a combined installed electrolysis capacity of over 3 gigawatts (GW). Notable projects include a 2 GW electrolysis plant in Saudi Arabia, one of the world’s largest planned facilities, a 200 MW plant for Shell in Rotterdam, and a 700 MW plant for a steel mill in Sweden. In the alkaline water electrolysis (AWE) segment alone, thyssenkrupp nucera expects sales of approximately €600 to 700 million in the upcoming fiscal year 2023/24.

Green hydrogen plays a crucial role in decarbonizing energy-intensive industries and achieving climate protection goals. thyssenkrupp nucera’s AWE process enables large-scale green hydrogen production, distinguishing it from other technologies. With over five decades of experience in electrolysis plant construction and services, the company is well-positioned to lead the way in the hydrogen sector.

Click here for latest photo material of the thyssenkrupp nucera IPO.

Media contacts:

thyssenkrupp AG
Konrad Böcker
Head of External Communication
Telephone:+49 201 844 553084
Mobile: +49 173 898 2102
press@thyssenkrupp.com

Nicola Röttger
Press spokesperson Financial and Business Topics
Telephone:+49 201 844-536481
press@thyssenkrupp.com

thyssenkrupp AG
Dr. Claus Ehrenbeck
Head of Investor Relations
Telephone::+49 201 844 536464
claus.ehrenbeck@thyssenkrupp.com

SOURCE: thyssenkrupp AG