thyssenkrupp nucera Selected for $50 Million Grant from the U.S. Department of Energy

EQS-Media / 18.03.2024 / 13:18 CET/CEST

thyssenkrupp nucera Selected for $50 Million Grant from the U.S. Department of Energy

• thyssenkrupp nucera has been selected for a $50 million grant by the U.S. Department of Energy (DOE) as part of the Bipartisan Infrastructure Law's funding of clean hydrogen and electrolysis manufacturing.
• The funding will be used for innovations with regard to the mass production of cells and the establishment of an automated pilot assembly line for the production of alkaline water electrolyzers (AWE) for the U.S. market.
• Bringing over 50 years of expertise in high-efficiency electrolysis technology and with the largest global AWE order backlog, thyssenkrupp nucera is dedicated to growing into the U.S. hydrogen market.

Houston, March 18, 2024 – The US Department of Energy (DOE) has selected thyssenkrupp nucera USA Inc. for a $50 million grant (pending negotiations) under the Bipartisan Infrastructure Law's investment in clean hydrogen and electrolyzer manufacturing. With this major funding from the U.S. government, thyssenkrupp nucera aims to further expand its footprint in the North Amercian hydrogen market and support the global transition towards a cleaner, more resilient energy infrastructure.

As part of the funding program, the world's leading supplier of large-scale alkaline water electrolysis (AWE) systems will work with its long-standing partner De Nora to develop innovations that will enable automated manufacturing of gigawatt-scale AWE production lines for customers in the United States. This way, thyssenkrupp nucera’s 20 MW module scalum® is not only being mass-produced in Europe, but also in and for the American market.

"Transitioning cell manufacturing from manual labor to automotive-like mass production that can serve multiple GW projects per year will be the key factor to best position our business in the US. Currently, we are in the process of selecting the ideal site for this project to be nearby customers, use the strong US job market and integrate ourselves as part of the local community," says Dr. Werner Ponikwar, CEO of thyssenkrupp nucera. "We are grateful for the trust of the DoE and the strong support that underscores the critical role our technology will play in achieving the goals of the energy transition and also builds on the intensive groundwork of the German-American Energy & Climate Partnership.”

This landmark legislation from the DOE represents the first significant federal funding of electrolysis technologies, with $750 million for 52 projects across 24 states to dramatically reduce the cost of clean hydrogen and reinforce American leadership in the growing hydrogen industry. With over 50 years of experience in high-efficiency electrolysis technologies and the world's largest backlog of AWE industrial projects – including first-mover projects such as NEOM in Saudi Arabia and H2 Green Steel in Sweden – thyssenkrupp nucera is now taking an important step toward localization to serve large-scale projects in the United States even better.

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Media inquiries:

Jessi Molohon
Communications Specialist
Mobile: +1 281 413 2426
Mail: jessi.molohon@thyssenkrupp-nucera.com

Investor inquiries:
Dr. Hendrik Finger
Head of Investor Relations
Phone: +49 231 229 724 347
Mail: hendrik.finger@thyssenkrupp-nucera.com

About thyssenkrupp nucera:

thyssenkrupp nucera offers world-leading technologies for high-efficiency electrolysis plants. The company has extensive in-depth knowledge in the engineering, procurement, and construction of electrochemical plants and a strong track record of more than 600 projects with a total rating of over 10 gigawatts already successfully installed. With its water electrolysis technology to produce green hydrogen, the company offers an innovative solution on an industrial scale for green value chains and an industry fueled by clean energy – a major step towards a climate-neutrality. thyssenkrupp nucera successfully made an IPO in July and is a member of the SDAX of the Frankfurt Stock Exchange since September.

www.thyssenkrupp-nucera.com

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Language:

English

Company:

thyssenkrupp nucera AG & Co. KGaA

Voßkuhle 38

44141 Dortmund

Germany

Phone:

+49 231-22972-7100

E-mail:

info@thyssenkrupp-nucera.com

Internet:

www.thyssenkrupp-nucera.com

ISIN:

DE000NCA0001

WKN:

NCA000

Indices:

SDAX

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1861115

End of News

EQS Media

1861115 18.03.2024 CET/CEST