Thyssenkrupp Nucera laid out growth plans reporting strong sales and operating income, as the company works to meet growing demand for the green hydrogen hailed as key to decarbonising the German economy, the Reuters reported on 28 August.
“Another strong global workforce expansion is planned and necessary to achieve our growth targets,” Chief Executive Werner Ponikwar told reporters after presenting quarterly results.
The company wants to expand production with new locations, including in India.
While in its infancy, so-called green hydrogen, which is produced using renewable energy, has been identified as a key energy source in the push towards a lower-carbon economy in Germany and other European Union countries.
Reporting its first financial results since going public, Nucera said earnings before interest and taxes (EBIT) rose 59% year-on-year to 7 million euros ($7.56 million) in the third quarter of its 2022/23 financial year.
Sales almost doubled to 187.5 million euros, driven mainly by its alkaline water electrolysis, where investors see potential for the business to scale up quickly.
Source https://goo.su/pypIm