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 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.
Deutsche Bank in August said it was"surprised" that Thyssenkrupp had transferred TKUCE to its Multi-Tracks division, which comprises businesses for which the conglomerate sees no sustainable future prospects within the group. TKUCE gets contracts worth more than 40 million tonnes of chlorine a year for both chlor-alkali and hydrochloric acid electrolysis plants.While views differ over whether the hype around hydrogen is real, Germany has dedicated 9 billion euros to help create a national hydrogen industry, with firms such as RWE and E.ON pinning hopes on the technology.
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