Hydrogen Brings New Hope to an Old Industry Titan

From the Wall Street Journal

Spinning trendy green assets out of venerable industrial companies at high valuations is a strategy that often sounds better in theory than in practice. But Thyssenkrupp ’s promising hydrogen business could be an exception.

On Thursday, the German company best known for steel production gave investors a closer look at a 66%-owned joint venture long buried within its conglomerate structure: Uhde Chlorine Engineers, now rebranded as Thyssenkrupp Nucera. The unit has long been making chlorine electrolyzers, which generate hydrogen as a byproduct. A product redesign means its existing facilities can now crank out one gigawatt annually of green-hydrogen electrolyzers at competitive costs to be installed and serviced by its existing network.