Thyssenkrupp Nucera will pivot its business to focus on green hydrogen service offerings and reassess its approach to solid oxide electrolysers (SOEC), amid falling sales for its green H2 segment.

 

The firm — which today (Tuesday) recorded negative sales of €33 million in its green hydrogen segment — plans to establish “long-term relationships with our customers based on long-term service agreements alongside our large-scale project partnerships”, according to comments made by CEO Werner Ponikwar on an earnings call.

 

The firm seeks to imitate the success of its chlor-alkali segment in which service agreements account for around 50% of sales.

Thyssenkrupp Nucera estimates green hydrogen service agreements could represent over €2bn ($2.3bn) in potential revenue based on the firm’s 3.5GW of sold electrolyser capacity and the 25-year average lifespan of its systems.

 

“We are currently in the process of finalising several long-term service agreements, and we will be able to share more details soon,” Ponikwar said.

 

Thyssenkrupp Nucera will also reassess its focus on SOEC electrolysers, which the firm began manufacturing at a pilot plant in Germany in May 2025.

 

“While SOEC offers significant efficiency potential, it still requires longer time to market,” said chief technology officer Klaus Ohlig.

 

“Therefore, we’re conducting a thorough review of our roadmap to explore and evaluate different strategic options to ensure an optimal use of resources while meeting market demand.”

 

The firm is also planning to launch a 20MW “plug-and-play” electrolyser system designed for outdoor use and expected to reduce costs per megawatt of installed capacity, as well as a more compact version of its pressurised alkaline electrolysers.

 

Chief financial officer Stefan Hahn added later in the call that a cost containment program is underway to address the slowdown in sales and involves the streamlining green hydrogen product activities with a “clear focus on long-term competitiveness, and leveraging best cost countries across engineering, supply chain, and support functions”.

 

Across the business the firm has also implemented a hiring freeze, reduced its use of external consulting, and reduced office space.

 

Thyssenkrupp Nucera has said its loss in sales in the green H2 segment can be attributed largely to a “one-time” write-off of €50m associated with a failed 20MW green hydrogen project at CF Industries giant Donaldsonville Complex in Louisiana.

 

Even excluding this write-off, sales would still be down from the start of Thyssenkrupp Nucera's financial year which saw the firm report €77m in electrolyser sales for green hydrogen projects. This itself was a 50% drop from the €154m in sales it logged in the first quarter of 2025.

 

On other hand, the firm recorded an order intake of €176m for its green hydrogen segment for Q2 2026, a huge year-on-year increase from the €4m it recorded last year.

 

This has been driven largely by the firm securing an contract to supply 300MW of its alkaline electrolysers from Spanish energy firm Moeve to use in Project Onuba, Spain’s largest green hydrogen plant to have reached a final investment decision.

 

 

Source: HydrogenInsight