(RTTNews) – thyssenkrupp Nucera AG & Co. KGaA (THYKF, NCH2.DE), a Germany-based green hydrogen electrolysis technology company, on Thursday announced that Australia’s Progressive Green Solutions has selected it as the preferred supplier of 1.4 GW electrolyzers for the Mid-West Green Iron project.
The project is currently in early planning. The company and PGS are working toward signing an EPF or engineering, procurement, fabrication contract.
The project’s realization is subject to a final investment decision and is not expected to materially impact the company’s sales or earnings before fiscal year 2026/27.
The project aims to produce 7 million tonnes of green iron pellets annually, with half converted into 2.5 million tonnes of green Hot Briquetted Iron or HBI in Western Australia’s Mid West region near Geraldton. HBI, a compressed form of Direct Reduced Iron or DRI, will be exported as a value-added product.
The plant will be powered entirely by renewable energy, using local magnetite iron ore, reducing CO2 emissions by up to 90% compared with conventional steel production.
The Giga-scale project is expected to transform the region into a global hub for green iron, with first exports anticipated in 2029. It features an integrated supply chain from mine to port using established infrastructure.
PGS’s long-term goal is to scale production to 30 million tonnes of DR-grade green pellets and 10 million tonnes of green HBI annually.
The company will supply its modular 20 MW scalable alkaline water electrolysis units, offering scalable and highly efficient green hydrogen production.
thyssenkrupp Nucera is currently trading 2.78% higher at EUR 9.25 on the XETRA.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
#Thyssenkrupp #Nucera #Supply #Electrolyzers #Australias #Green #Iron #Project