TheTechno Optimist.

thyssenkrupp nucera—thyssenkrupp nucera drops plans for its own solid-oxide electrolyser production and lowers guidancescalum alkaline electrolyserthyssenkrupp nucera—Moeve orders 300 MW of thyssenkrupp nucera electrolysers for Southern Europe's largest green hydrogen plantscalum alkaline electrolyserthyssenkrupp nucera—thyssenkrupp nucera nearly quadruples quarterly order intake to EUR 316M on the Moeve dealscalum alkaline electrolyserthyssenkrupp nucera—Stegra finishes installing all 37 thyssenkrupp nucera electrolysis modules at its Boden green steel plant

thyssenkrupp nucera

Alkaline electrolysers, chlor-alkali plants

DEpublicthyssenkrupp-nucera.com (opens thyssenkrupp-nucera.com)Checked 11 Oct

The brief

Analyst view
  • Says it delivered 2.7 GW of electrolysers across 2024 and 2025; its two flagship projects are NEOM in Saudi Arabia and Stegra in Sweden.
  • Won Moeve's 300 MW Onuba order in Mar 2026, Southern Europe's largest green hydrogen project.
  • Hydrogen still loses money (EUR -107M EBIT in 9 months to Jun 2026); chlor-alkali is profitable.

Technical approach

As reported
Modules

One standard 20 MW block

Every hydrogen plant is built from the same 20 MW scalum module, so gigawatt projects are repeats of one design, not custom builds.

Cells

Chlor-alkali heritage

The large single cells descend from decades of chlor-alkali electrolysis, a mature industrial process the company already sells worldwide.

Service

Refurbish, don't replace

Each cell can be removed and refurbished on its own, and is monitored individually, so worn parts are fixed without swapping whole stacks.

Focus

Alkaline only, SOEC parked

In Aug 2026 it dropped plans for its own mass production of high-temperature solid-oxide cells, citing a slower hydrogen market, and stays with alkaline.

Primer