The Ruhr concern is the market leader in systems for alkaline electrolysis.
(Photo: Thyssen-Krupp)
Frankfurt, Berlin The industrial group Thyssen-Krupp is pushing the IPO of its hydrogen division. The subsidiary Uhde Chlorine Engineers (UCE) is to be brought to the capital market in the second quarter of next year, whereby the company could be valued at four to six billion euros, as the Handelsblatt has learned from financial circles. The Ruhr group intends to use the proceeds to strengthen its financial strength in order to be able to distribute a dividend to its shareholders again in the future.
The transaction is being accompanied by the investment banks Citigroup and Deutsche Bank, as two people familiar with the matter said. In the Thyssen-Krupp portfolio, the unit is a small area in terms of sales.
However, the prospects are excellent: Investors are betting that the hydrogen business will grow strongly in the coming years. The driving force is the decarbonisation of the economy. The use of hydrogen in metal and chemical production, for example, is intended to reduce carbon dioxide emissions.
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