Latest news with #ThyssenkruppNucera
Yahoo
3 days ago
- Business
- Yahoo
Thyssenkrupp Nucera abandons US green hydrogen projects no longer deemed feasible -CEO
By Marleen Kaesebier and Christoph Steitz (Reuters) -Thyssenkrupp Nucera is in intensive discussions with stakeholders in its U.S. projects and is abandoning those no longer deemed feasible due to tax and spending changes initiated by U.S. President Donald Trump, its CEO said on Wednesday. Global demand for green hydrogen had stalled amid concern among clean-tech players over what Trump's policies would mean for the industry. But Thyssenkrupp Nucera's chief executive Werner Ponikwar said the company had more clarity around the financial viability of U.S. projects after the enactment of U.S. legislation that eliminated some tax credits for low-carbon energy sources. "We have sorted out all projects that have less chance of being realized due to the new framework conditions in the U.S.," Ponikwar said in a call with journalists after the company reported results. Trump's sweeping spending and tax legislation has made it harder to develop green tech projects in the U.S. by effectively phasing out renewable energy tax credits after 2026 if projects have not started construction. Ponikwar said that with projects still expected to receive funding if they start construction work before a revised end of 2027 deadline, Thyssenkrupp Nucera will be able to advance state-side projects, especially those in advanced stages. "We are convinced that the hydrogen electrolysis market continues to offer enormous potential," Ponikwar said, while adding that the company needs to be more patient than initially hoped. If U.S. projects do not come to fruition, Thyssenkrupp Nucera will utilize its U.S. resources "for other purposes", Ponikwar said, echoing his sentiments from December. Sign in to access your portfolio
Reuters
3 days ago
- Business
- Reuters
Thyssenkrupp Nucera abandons US green hydrogen projects no longer deemed feasible -CEO
Aug 13 (Reuters) - Thyssenkrupp Nucera ( opens new tab is in intensive discussions with stakeholders in its U.S. projects and is abandoning those no longer deemed feasible due to tax and spending changes initiated by U.S. President Donald Trump, its CEO said on Wednesday. Global demand for green hydrogen had stalled amid concern among clean-tech players over what Trump's policies would mean for the industry. But Thyssenkrupp Nucera's chief executive Werner Ponikwar said the company had more clarity around the financial viability of U.S. projects after the enactment of U.S. legislation that eliminated some tax credits for low-carbon energy sources. "We have sorted out all projects that have less chance of being realized due to the new framework conditions in the U.S.," Ponikwar said in a call with journalists after the company reported results. Trump's sweeping spending and tax legislation has made it harder to develop green tech projects in the U.S. by effectively phasing out renewable energy tax credits after 2026 if projects have not started construction. Ponikwar said that with projects still expected to receive funding if they start construction work before a revised end of 2027 deadline, Thyssenkrupp Nucera will be able to advance state-side projects, especially those in advanced stages. "We are convinced that the hydrogen electrolysis market continues to offer enormous potential," Ponikwar said, while adding that the company needs to be more patient than initially hoped. If U.S. projects do not come to fruition, Thyssenkrupp Nucera will utilize its U.S. resources "for other purposes", Ponikwar said, echoing his sentiments from December.
Reuters
3 days ago
- Business
- Reuters
Thyssenkrupp Nucera reports worse than expected quarterly loss
Aug 13 (Reuters) - German hydrogen equipment supplier Thyssenkrupp Nucera ( opens new tab on Wednesday reported a worse than expected third quarter loss, as it continues to face project postponements in a weak hydrogen market. The company reported a net loss of 2 million euros ($2.33 million), below the 1 million euro average predicted by analysts in a Vara-research compiled poll. That compares to a 7 million euros profit in the same period last year. The company also confirmed its full year guidance. In July the hydrogen group had slightly raised, opens new tab its profit expectations for its 2025 financial year when it reported preliminary third quarter results. ($1 = 0.8568 euros)
Reuters
3 days ago
- Business
- Reuters
Thyssenkrupp Nucera reports unexpected quarterly loss
Aug 13 (Reuters) - German hydrogen equipment supplier Thyssenkrupp Nucera ( opens new tab on Wednesday reported an unexpected third quarter loss, as it continues to face project postponements in a weak hydrogen market. Global demand for green hydrogen is stalling and clean-tech players are concerned over what U.S. President Donald Trump's policies will mean for the industry, fearing his tax and spending plans will hobble the nascent U.S. green hydrogen industry by removing crucial tax credits. Thyssenkrupp Nucera reported a net loss of 2 million euros ($2.33 million), below the 1 million euro profit predicted by analysts in a Vara-research compiled poll. That compared to a 7 million euro profit in the same period last year. The company's free cash flow for the first nine months of the financial year however was positive, it said. "Thyssenkrupp Nucera continues to generate positive free cash flow even in this difficult market for hydrogen solutions," CFO Stefan Hahn said in a statement. The company also confirmed its full year guidance. In July the hydrogen group had slightly raised, opens new tab its profit expectations for its 2025 financial year when reporting third quarter results. Orders fell 77% in the latest quarter, below the record number which the company had recorded in the year before. Thyssenkrupp Nucera said in December that it could quickly shift resources elsewhere if U.S. policies proved negative for the sector. Earlier this week wind farm developer Orsted asked shareholders for $9.4 billion to help fund a U.S. project, after potential partners were put off by U.S. President Donald Trump's hostility to wind power, sending shares plunging to record lows. "Europe is currently the most promising market," Chief Executive Werner Ponikwar said of green hydrogen production projects in a statement on Wednesday. ($1 = 0.8568 euros)
Reuters
15-07-2025
- Business
- Reuters
Thyssenkrupp Nucera slightly raises EBIT outlook for 2024-25 financial year
BERLIN, July 15 (Reuters) - German hydrogen group Thyssenkrupp Nucera ( opens new tab specified its sales outlook for the current 2024-2025 financial year on Tuesday and slightly rose its profit expectations for the period. The group now anticipates sales between 850 million euros ($993.23 million) and 920 million euros for the financial year, with incoming orders at 63 million euros for the third quarter. The company expects earnings before interest and taxes for the financial year to range between –7 million euros and 7 million euros, an improvement on its previous EBIT outlook of between -30 million euros and 5 million euros. ($1 = 0.8558 euros)
