GTT to review options for French PEM electrolyser biz Elogen
Gaztransport & Technigaz SA (EPA:GTT), a French company specialising in technology used in the transportation and storage of liquefied gases, will carry out a strategic review of its PEM electrolyser subsidiary Elogen, aiming to lower its funding needs.The review will explore “all possible options,” given the challenging market environment for green hydrogen, GTT said in a press statement. The initial conclusions from the assessment are due to be presented in the coming weeks no later than the release of the company’s 2024 financial report and no comments on the matter will be made in the meantime.Elogen, formerly known as Areva H2-GEN, was set up in 1997 and is focused on the design and production of proton exchange membrane (PEM) electrolysers for decarbonisation projects in the mobility, industry and energy storage segments. The company was acquired by GTT and renamed in 2020. Since the change of ownership, Elogen has secured a series of orders, among which is a 10-MW deal from German renewables energy company Enertrag SE in 2023.
Gaztransport & Technigaz SA (EPA:GTT), a French company specialising in technology used in the transportation and storage of liquefied gases, will carry out a strategic review of its PEM electrolyser subsidiary Elogen, aiming to lower its funding needs.
The review will explore “all possible options,” given the challenging market environment for green hydrogen, GTT said in a press statement. The initial conclusions from the assessment are due to be presented in the coming weeks no later than the release of the company’s 2024 financial report and no comments on the matter will be made in the meantime.
Elogen, formerly known as Areva H2-GEN, was set up in 1997 and is focused on the design and production of proton exchange membrane (PEM) electrolysers for decarbonisation projects in the mobility, industry and energy storage segments. The company was acquired by GTT and renamed in 2020. Since the change of ownership, Elogen has secured a series of orders, among which is a 10-MW deal from German renewables energy company Enertrag SE in 2023.
What's Your Reaction?
