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JapanMilan, 23rd September 2022 – Industrie De Nora S.p.A. (“De Nora”) announces that today, it has entered into a shareholders’ agreement (the “tk Shareholders’ Agreement”) with thyssenkrupp Projekt 1 GmbH (“tk Projekt”), an indirect subsidiary of thyssenkrupp AG (“thyssenkrupp”), which confirms the partnership in place under the former joint venture agreement entered into in 2013 for thyssenkrupp nucera AG & Co. KGaA (“thyssenkrupp nucera”), a global technology leader for green hydrogen plant solutions.
The tk Shareholders’ Agreement will be in force until November 4, 2038 and will be automatically renewed for additional five-year periods if no party gives notice of earlier termination. The core provisions relating to the governance of thyssenkrupp nucera, transfer of shares of thyssenkrupp nucera, and exit rights are in line with the description included in the De Nora’s listing Prospectus published on June 22, 2022.
The tk Shareholders’ Agreement confirms the comprehensive industrial cooperation between ThyssenKrupp nucera and De Nora, including the Toll Manufacturing and Services Agreement between thyssenkrupp nucera and De Nora dated 1 April 2015.
Paolo Dellachà, De Nora’s CEO declared: “Thanks to the renewal of the agreement with thyssenkrupp we are further strengthening our relationship with one of our long-lasting commercial partners. This collaboration allows us to support the envisioned growth in the green hydrogen market and to increase further our technological leadership position. Our strategic partnership with thyssenkrupp nucera and thyssenkrupp is a key success factor for us and we intend to continue it.”
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Industrie De Nora is an Italian multinational company, listed on Euronext Milan stock exchange, specialized in electrochemistry, a leader in sustainable technologies and with a key role in the industrial green hydrogen production chain. The Company has a portfolio of products and systems to optimize the energy efficiency of key industrial electrochemical processes and a range of products and solutions for water treatment. Globally, Industrie De Nora is the world's largest supplier of activated electrodes (serving a broad portfolio of customers operating in the fields of chlorine & caustic soda production, components for electronics, non-ferrous metal refining). Industrie De Nora is also among the world's leading suppliers of water filtration and disinfection technologies (for the industrial, municipal, and marine sectors) and the world's leading supplier of swimming pool disinfection components. Leveraging its well-established electrochemical knowledge, proven manufacturing capability, and a supply chain established over the years, the Company has developed and qualified a portfolio of electrodes and components to produce hydrogen through the electrolysis of water, which is critical for the energy transition.
Founded in 1923, Industrie De Nora had total revenues of €616 million and EBITDA of €127 million in 2021. The Company's growth process has developed both organically, through continued penetration of new markets and applications, and through acquisitions in the U.S., Asia, and Europe. The Company’s growth is supported by continuous innovation well represented by its evolving intellectual property portfolio, which currently includes more than 260 patent families with more than 2,600 territorial extensions. The Company's portfolio includes a stake (about 34 percent) in the thyssenkrupp nucera joint venture, a world-leading engineering company in chlorine production and water electrolysis plants to produce hydrogen. The Group is controlled by the De Nora family, which owns approximately 53 percent of the Company’s share capital (assuming full exercise of the greenshoe option), with Snam S.p.A. as a minority shareholder with about 25 percent of the capital (assuming full exercise of the greenshoe option).
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FOR MORE INFORMATION
Industrie De Nora – Investor Relations
Marco Porro +39 02 2129 2124
ir@denora.com