German electrolyser manufacturer Thyssenkrupp Nucera has reported strong sales performance for the third quarter of 2024, largely driven by its alkaline water electrolysis (AWE) sector.
Group sales for the quarter rose by 26% year-on-year, reaching €235.7 million. The AWE division saw a significant increase in sales, climbing to €132.5 million from €110.5 million in the same period last year.
This growth was primarily fueled by ongoing progress in the NEOM water electrolyser project in Saudi Arabia and Sweden’s H2 Green Steel initiative.
Despite the sales increase, the company’s earnings before interest and taxes dropped to €0.7 million in the third quarter, compared to €7.0 million in the previous year. This decline was attributed to higher research and development costs related to expanding the AWE business.
For the first nine months of the year, group sales grew by 24%, totaling €612.0 million.
Thyssenkrupp Nucera’s CEO Werner Ponikwar also highlighted a significant achievement in the US, stating: “We have reached an important milestone with our 20-megawatt water electrolyser at CF Industries in the USA, which has begun producing its first green hydrogen.”
“This 20 MW electrolyser is a key component in the decarbonisation of the world’s largest ammonia production site. Moving forward, more Thyssenkrupp electrolysers will commence operations globally, contributing to the production of essential green hydrogen needed for the decarbonisation of heavy industry.”
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