Spinning trendy inexperienced belongings out of venerable industrial corporations at higher valuations is a approach that often appears much better in concept than in observe. But Thyssenkrupp ’s promising hydrogen enterprise could be an exception.
On Thursday, the German corporation very best identified for metal generation gave traders a nearer glimpse at a 66%-owned joint venture long buried within its conglomerate construction: Uhde Chlorine Engineers, now rebranded as Thyssenkrupp Nucera. The device has lengthy been making chlorine electrolyzers, which create hydrogen as a byproduct. A item redesign indicates its current facilities can now crank out 1 gigawatt per year of inexperienced-hydrogen electrolyzers at competitive prices to be put in and serviced by its present network.