German steelmaker Thyssenkrupp is considering an IPO or a deal with a SPAC to spin off its hydrogen business, Reuters reports, citing comments from the company’s CEO Martina Merz.
A 66-34 joint venture of Thyssenkrupp and Italy’s De Nora, Thyssenkrupp Uhde Chlorine Engineers is the world’s largest supplier of chlor-alkali membrane technologies used to produce hydrogen.
In a call with analysts, Merz said Thyssenkrupp has hired an investment bank to explore strategic options for the business and to come up with proposals by the summer. Read more.
