Sunday, November 15, 2020

Very Troubled "Thyssenkrupp could change tack and keep hydrogen champion Uhde - sources"

 A Reuters exclusive, November 12:

Embattled conglomerate Thyssenkrupp is reviewing ways to keep its electrolysis unit Uhde as demand for large-scale production of hydrogen is expected to increase, three people familiar with the matter told Reuters.

Thyssenkrupp Uhde Chlorine Engineers (TKUCE) is currently part of Thyssenkrupp’s Plant Technology division, which makes equipment for mining, chemicals and fertiliser plants and has been put up for sale.

A 66-34 joint venture of Thyssenkrupp and Italy’s De Nora, TKUCE is the world’s largest supplier of chlor-alkali membrane technologies needed to produce hydrogen.

The business will now likely be retained to help Thyssenkrupp build a strategy around hydrogen, the people said, citing plans by the European Union to push production of the fuel via renewables.

Thyssenkrupp, which will publish annual results on Nov. 19, declined to comment....


Also at Reuters, November 13:

Thyssenkrupp considers carve-out of ailing steel unit: minister

The company is also looking for $6 billion in aid.