Thyssenkrupp can't guarantee $3.3 billion green steel site will be economical, CEO says [Yahoo! Finance]
THYSSENKRUPP AG S/ADR (TKAMY)
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Source: Yahoo! Finance
unless Germany ensures there's sufficient green hydrogen to supply it, the conglomerate's CEO said. "With this project we are not only pushing the boundaries of what is technologically feasible. We are also currently operating at the limits of economic viability. Or, as things stand today: beyond it," Miguel Lopez said. The comments cast doubt on what is the company's single biggest investment and reflects a more sobering assessment around hydrogen supply in Europe's top economy, once seen as a viable energy alternative. Lopez said when the site was conceived the expectation was that sufficient amounts of affordable green hydrogen would be available at the time of completion, assumptions he said had been too ambitious. "Under the current
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