Thyssenkrupp Nucera warns of hydrogen slowdown as uncertainy drags on (updated)

thyssenkrupp nucera AG & Co KgaA

13/08/2024 06:15

(Recasts throughout)
       FRANKFURT, Aug 13 (Reuters) - Thyssenkrupp Nucera
 NCH2.DE  on Tuesday warned that growth in the hydrogen sector
was hit in the third quarter by a lack of regulatory certainty
for the nascent technology, adding this held back investment
decisions by customers.
        The comments come after the company, in which
Thyssenkrupp  TKAG.DE  holds a majority, 
    scrapped
     its outlook for the alkaline water electrolysis business
division last month, saying the ongoing uncertainty made a
forecast impossible at the moment.
  
    "Despite new projects, growth momentum was also
significantly slowed in the third quarter due to the prevailing
uncertainty in the market for green hydrogen," the company said
along with final third-quarter results.
        "Unresolved regulatory issues and a slow pace of funding
commitments led to delays in the final investment decision (FID)
of many potential customers regarding the necessary electrolysis
capacities."
  
        Still, orders stood at 1.3 billion euros ($1.42 billion)
at the end of June, up from 1.2 billion at the end of March, the
company said.
  


($1 = 0.9141 euros)

 (Reporting by Christoph Steitz
Editing by Marguerita Choy and Rachel More)
 ((christoph.steitz@thomsonreuters.com; +49 30 220 133 647))