In the Netherlands, Offshore Energy reported that German-based engineering firm thyssenkrupp has floated its hydrogen business thyssenkrupp nucera on the Frankfurt Stock Exchange.
Specifically, the gross proceeds from the IPO of around $586 million will go to thyssenkrupp nucera and will be invested in the further growth of the hydrogen business, according to the report.
thyssenkrupp said the Saudi Arabian sovereign wealth fund PIF and a fund of the French bank BNP Paribas have secured a substantial share of the issue volume and are acting as cornerstone investors.
“We are convinced of the considerable development potential of thyssenkrupp nucera and will support the growth of the company, which is essential for the decarbonization of many industries, in the long term. The IPO is an important step in the transformation process of the entire thyssenkrupp Group,” said Miguel Ángel López Borrego, CEO of thyssenkrupp AG.
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