binance left Coinmarketcap net_left adver left
Detail

Betting on hydrogen hype, Thyssenkrupp eyes $687 million in IPO cash

By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -Thyssenkrupp's electrolysis business is aiming for proceeds of up to 600 million euros ($687 million) by...
Betting on hydrogen hype, Thyssenkrupp eyes $687 million in IPO cash © Reuters. FILE PHOTO: A logo of Thyssenkrupp AG is pictured at the company's headquarters in Essen, Germany, November 21, 2018. REUTERS/Thilo Schmuelgen/File Photo

By Christoph Steitz and Tom Käckenhoff

FRANKFURT/DUESSELDORF (Reuters) -Thyssenkrupp's electrolysis business is aiming for proceeds of up to 600 million euros ($687 million) by selling new shares in a possible initial public offering this year, betting on the $130 billion hydrogen sector it supplies.

Thyssenkrupp (DE:TKAG) plans to keep a majority in the business - which is being rebranded as Thyssenkrupp Nucera - following any IPO and aims to maintain the current shareholding ratio with its Italian co-owner De Nora, said Volkmar Dinstuhl, who leads the conglomerate's Multi Tracks division.

This implies a free-float of up to 25%.

Nucera's electrolysis technology uses power to split water into oxygen and hydrogen, allowing CO2 heavy sectors, including steelmaking, refining and fertilisers, to decarbonise using "green" hydrogen.

Hydrogen production, a market Precedence Research says was worth $130 billion in 2020, is benefiting from Europe's efforts to become a world leader in this technology, which could play a big role in attempts to cut emissions and decarbonise economies.

The 500 million-600 million in potential IPO proceeds would correspond to a stake sale of roughly 10-20% based on a valuation range of 3 billion to 6 billion euros that analysts have put on the division, which could be listed in the spring.

Thyssenkrupp Nucera is the world's top supplier of chlor-alkali membrane technologies needed to produce hydrogen, competing with Japan's Asahi Kasei, China's Bluestar Beijing Chemical Machinery and Britain's chemicals group Ineos.

It is also active in alkaline water electrolysis, a key requirement for the generation of hydrogen produced via renewable energy, pitting it against Norway's Nel ASA, UK's ITM Power and France's McPhy Energy SAS.

HUGE DEMAND

"Demand is huge. We want to use that opportunity," Denis Krude, CEO of Thyssenkrupp Nucera, told Reuters ahead of a capital markets on Thursday where investors are getting more detail on the business for the first time.

"We are a technology leader for electrolysis and have been in the business for decades," Krude, who has led the division since October 2016, added.

So far green hydrogen has been far more expensive than versions produced using fossil fuel, including the dominant "grey" hydrogen that relies on natural gas, but rising gas prices have started to change the economics.

In the fiscal year to end-September, Thyssenkrupp Nucera posted earnings before interest and tax of 27 million euros, while sales came in at 319 million, a level expected to triple to 900 million to 1 billion by 2025/26.

The potential proceeds from selling new shares do not factor in the sale of existing stakes by current owners Thyssenkrupp and De Nora, which own Thyssenkrupp Nucera in a 66/34 split.

Thyssenkrupp, which first floated the idea of an IPO of its hydrogen business in May last year, declined to say how much it would sell as part of a secondary offering in case of an IPO.

"The market has enormous potential," Krude said, adding Nucera would invest 200 million to 300 million by 2024/25, of which 150 million-200 million will be spent on strategic moves including partnerships, production and smaller deals.

Thyssenkrupp, which makes everything from steel and submarines to car parts and fertiliser plants, sees an IPO as the preferred option for Nucera but has not made a final decision.

"For the Thyssenkrupp group the most important thing in a possible IPO is the so-called value crystallisation," said Dinstuhl.

($1 = 0.8738 euro)

ig right nyse right Neteller adver right
APPROVED BROKERS
rakuten_main right top net_home_top ig_main right top Binance _ main right top fbs_main right top tifia_main right top
18-01-2022 11:15:51 (UTC+7)

EUR/USD

1.1337

-0.0069 (-0.61%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

EUR/USD

1.1337

-0.0069 (-0.61%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

GBP/USD

1.3578

-0.0067 (-0.49%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (6)

USD/JPY

114.60

0.00 (0.00%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (0)

AUD/USD

0.7186

-0.0024 (-0.33%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (11)

USD/CAD

1.2527

+0.0008 (+0.06%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

EUR/JPY

129.93

-0.80 (-0.61%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

EUR/CHF

1.0394

-0.0031 (-0.29%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Gold Futures

1,814.85

-1.65 (-0.09%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (6)

Silver Futures

23.538

+0.620 (+2.71%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (9)

Copper Futures

4.4143

-0.0062 (-0.14%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

Crude Oil WTI Futures

84.42

+1.12 (+1.34%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Brent Oil Futures

87.09

+0.61 (+0.71%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Natural Gas Futures

4.351

+0.089 (+2.09%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

US Coffee C Futures

239.85

+0.20 (+0.08%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Euro Stoxx 50

4,268.35

-33.79 (-0.79%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (1)

S&P 500

4,593.59

-69.26 (-1.49%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

DAX

15,809.52

-124.20 (-0.78%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (3)

Sell (3)

FTSE 100

7,577.28

-33.95 (-0.45%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

Hang Seng

24,112.78

-105.25 (-0.43%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,113.00

-48.55 (-2.25%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (8)

IBEX 35

8,795.08

-43.62 (-0.49%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (0)

BASF SE NA O.N.

68.085

-0.055 (-0.08%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (7)

Bayer AG NA

52.06

-0.76 (-1.44%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (5)

Sell (1)

Allianz SE VNA O.N.

226.20

-0.85 (-0.37%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (5)

Sell (2)

Adidas AG

255.71

+3.06 (+1.21%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (4)

Deutsche Lufthansa AG

7.157

-0.084 (-1.16%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

Siemens AG Class N

142.96

-3.04 (-2.08%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Deutsche Bank AG

11.948

-0.070 (-0.58%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

 EUR/USD1.1337↑ Sell
 GBP/USD1.3578↑ Sell
 USD/JPY114.60↑ Buy
 AUD/USD0.7186↑ Sell
 USD/CAD1.2527↑ Buy
 EUR/JPY129.93↑ Sell
 EUR/CHF1.0394↑ Sell
 Gold1,814.85↑ Sell
 Silver23.538↑ Sell
 Copper4.4143↑ Buy
 Crude Oil WTI84.42↑ Sell
 Brent Oil87.09↑ Sell
 Natural Gas4.351↑ Buy
 US Coffee C239.85↑ Buy
 Euro Stoxx 504,268.35↑ Buy
 S&P 5004,593.59Buy
 DAX15,809.52Buy
 FTSE 1007,577.28↑ Sell
 Hang Seng24,112.78↑ Buy
 Small Cap 20002,113.00↑ Sell
 IBEX 358,795.08↑ Buy
 BASF68.085↑ Sell
 Bayer52.06Buy
 Allianz226.20Neutral
 Adidas255.71↑ Sell
 Lufthansa7.157Sell
 Siemens AG142.96↑ Sell
 Deutsche Bank AG11.948↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,115/ 6,155
(-5/ -5) # 1,167
SJC HCM6,110/ 6,170
(0/ 0) # 1,183
SJC Hanoi6,110/ 6,172
(0/ 0) # 1,185
SJC Danang6,110/ 6,172
(0/ 0) # 1,185
SJC Nhatrang6,110/ 6,172
(0/ 0) # 1,185
SJC Cantho6,110/ 6,172
(0/ 0) # 1,185
Cập nhật 18-01-2022 11:15:53
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,815.86-3.46-0.19%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2400024480
RON 95-II,III2390024370
E5 RON 92-II2291023360
DO 0.05S1838018740
DO 0,001S-V1873019100
Dầu hỏa1719017530
ↂ Giá dầu thô thế giới
WTI$84.28-0.64-0.76%
Brent$86.53-0.44-0.51%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.560,0022.870,00
EUR25.241,6226.656,50
GBP30.202,2531.491,85
JPY191,95203,20
KRW16,5120,11
Cập nhật lúc 18:54:36 18/01/2022
Xem bảng tỷ giá hối đoái
binance main right Fxpro Main Right aetos main right adver main right