Thyssenkrupp Nucera is reviewing its U.S. green hydrogen projects and dropping those no longer viable due to tax and spending changes introduced by U.S. President Donald Trump, CEO Werner Ponikwar said on Wednesday, reported Reuters.
The company has been in intensive talks with stakeholders and has decided to prioritize projects that remain financially feasible under the new U.S. framework. Global demand for green hydrogen has slowed as clean-tech firms reassess the impact of Trump’s policies.
Recent U.S. legislation has removed certain tax credits for low-carbon energy sources, complicating project economics. Renewable energy tax credits are set to phase out after 2026 unless construction begins before that date. A revised deadline now allows funding for projects that start before the end of 2027.
Ponikwar said the company will focus on U.S. projects in advanced stages to meet the eligibility timeline. “We are convinced that the hydrogen electrolysis market continues to offer enormous potential,” he said, while acknowledging that progress will take longer than initially anticipated.
If certain U.S. projects cannot proceed, Thyssenkrupp Nucera plans to redirect its American resources to other uses.
