thyssenkrupp nucera Quadruples Order Intake to €316M in Q2, Securing Major 300MW Green Hydrogen Project in Southern Europe

thyssenkrupp nucera AG & Co KGaA Europe (Germany)

Overview

thyssenkrupp nucera announced a near fourfold increase in order intake to €316 million in Q2 of fiscal year 2025/2026, boosting its order backlog to €732 million. This growth is largely driven by a 300 MW electrolyzer order for Spain’s “Andalusia Green Hydrogen Valley” project and a 260 MW green hydrogen FEED study in India, underscoring strong demand for its alkaline water electrolysis technology. Despite an expanded net loss of €64 million due to project costs, the company is implementing cost-cutting measures and expanding its product portfolio, including standardized 120 MW “plug-and-play” systems.

In Depth

Market Demand and Strategic Positioning

The global drive for decarbonization has significantly amplified demand for green hydrogen, placing electrolyzer manufacturers at the forefront of the energy transition. thyssenkrupp nucera, a leading provider of alkaline water electrolysis technology, is strategically capitalizing on this expanding market. The company’s performance in the second quarter of fiscal year 2025/2026 robustly reflects this market momentum.

Major Order Wins and Business Expansion

In Q2 FY 2025/2026, thyssenkrupp nucera reported a quadrupling of its order intake to €316 million compared to the previous year’s period, resulting in a total order backlog of €732 million. This strong performance is supported by resilient demand in both its green hydrogen (gH2) and chlor-alkali (CA) business segments.

Specifically within the green hydrogen sector, the company secured a landmark order for a total of 300 megawatts (MW) of electrolyzer capacity for the “Andalusia Green Hydrogen Valley” project in Spain, spearheaded by Moeve. This facility is poised to become one of the largest green hydrogen plants in Southern Europe, highlighting the critical role of thyssenkrupp nucera’s technology in large-scale, cross-regional initiatives. Furthermore, the company was awarded the Front-End Engineering Design (FEED) study for a 260 MW green hydrogen project in India. This Indian project, planned near the Mulapeta port on the east coast, aims primarily for green ammonia export to Europe, further cementing the company’s contribution to international hydrogen supply chains.

Financial Challenges and Future Outlook

Despite the substantial order growth, thyssenkrupp nucera also reported an expanded net loss of €64 million for Q2 FY 2025/2026, primarily due to high costs associated with ongoing green hydrogen projects and special items from the conclusion of a pilot contract in the U.S. In response, the company is actively implementing cost-reduction measures, targeting annual savings of €25 million by FY 2026/27. It is also expanding its product portfolio to include standardized 120 MW “plug-and-play” electrolyzer systems and comprehensive 360-degree lifecycle services. These strategic moves are aimed at addressing increasing market demand while ensuring long-term profitability and business sustainability. The key challenges ahead will be the efficient execution of its growing order backlog and stringent cost management to transition to consistent profitability.

• Secured 300 MW electrolyzer order for Spain’s “Andalusia Green Hydrogen Valley” project, largest in Southern Europe.
• Awarded FEED study for a 260 MW green hydrogen project in India, targeting green ammonia export to Europe.
• Implemented cost-saving initiatives aiming for €25 million annual savings by FY 2026/27.
• Introduced standardized 120 MW plug&play electrolyzer systems to product offerings.