- De Nora Enters a Project for the Construction of One of the Largest European Water Electrolysis Plants for the Generation of Green Hydrogen
- ThyssenKrupp nucera submitted orders for the supply of electrolyzers to produce more than 700 MW of green hydrogen
Milan – Industrie De Nora (“De Nora“), an Italian multinational listed on Euronext Milan, specializing in electrochemistry, a leader in sustainable technologies and the emerging green hydrogen industry, has received through its subsidiary DeNora Deutschland GmbH multiple orders from thyssenkrupp nucera AG & Co. KGaA (“thyssenkrupp nucera”) for the supply of electrolyzers for one of Europe’s largest water electrolysis plants to produce green hydrogen currently under construction in Sweden.
The project, which will produce green hydrogen with a total installed capacity of more than 700 MW, ranks among Europe’s largest water electrolysis plants. Green hydrogen will be used in a hard-to-abate industry decarbonisation project and will, once completed, significantly reduce the carbon footprint of the end customer compared to the use of traditional technologies.
The orders, that have been awarded to De Nora under the existing Toll Manufacturing and Services Agreement with thyssenkrupp nucera, are among those previously reported in the pipeline, and will contribute significantly to increasing the backlog of the Energy Transition segment.
Paolo Dellachà, CEO of De Nora, commented, “We are extremely pleased to announce the awarding of these new orders by thyssenkrupp nucera, thus making a pivotal contribution to the realization of a project of European relevance which stands out for its remarkable production capability and distinguished sustainability profile. These orders further strengthen the growth of our business focused on the production of green hydrogen, reinforcing De Nora’s position as a company capable of significantly contributing to the decarbonization of traditionally hard-to-abate industrial sectors. Sustainability has always been in our DNA. Through our engagement in the execution of projects of this scale, we play a crucial role in helping other international players and large corporations in realizing green productions.”
The transaction qualifies as a related party transaction and is exempt from the application of the procedure on related parties transactions adopted by De Nora (the “RTP Procedure”), pursuant to art. 9, letter (f), of the RTP Procedure, since it has been carried out between a subsidiary and an affiliate of De Nora, in which there are no significant interests. Accordingly, although the transaction may exceed the thresholds identified by the RTP Procedure, the same is exempt from the disclosure obligations in connection with “related party transactions of greater significance”, since exempt transactions are not taken into account for the purpose of the relevant cumulative threshold.
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