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JapanMilan, 29 February 2024 – Industrie De Nora S.p.A. (“De Nora”), an Italian multinational listed on Euronext Milan, specializing in electrochemistry, a leader in sustainable technologies and the emerging green hydrogen industry, is one of the Partners in the European project "HyTecHeat", along with, among others, Snam and Tenova. This project involves the use of hybrid technologies for the production of steel with low CO2 emissions.
De Nora will supply the new 1MW capacity Dragonfly® on-site electrolytic hydrogen generation system, contributing to emissions’ reduction in a traditionally hard-to-abate sector.
The HyTecHeat (Hybrid Technologies for sustainable steel reheating) project is an initiative part of the “Horizon Europe” program, funded by the European Union with about 3.3 million euros. The project envisages the use of the Dragonfly® system in steel production processes, an activity that is energy-intensive and therefore highly impactful on an environmental level. The goal is to reduce this impact in the heat treatment and heating stages, which are still exclusively based on natural gas, by increasing the percentage of low-carbon hydrogen used in these processes in a more and more virtuous hybridization of the two resources.
This is the first use case of the new Dragonfly® electrolyzer, an innovative product developed by De Nora as a natural evolution of the company's vast experience in electrode design and production. The high performance of this new product is possible thanks to the use of DSA® electrodes, developed by De Nora, which guarantee maximum efficiency.
In particular, the electrolyzer makes it possible to meet the needs of a wide range of industries that require on-site hydrogen generation, such as the chemical, pharmaceutical, biogas, oleochemical, and refinery industries, as it is a small unit designed to be installed at the end customer's facility. The system,
that has been in testing at an industrial site for more than a year and has already obtained all certifications to operate, is now for the first time being used in a project of European significance.
In this particular case, project partner Tenova, a world leader in providing technologies for the metallurgical and mining industries, will host this best case demonstration with the support of Snam, which will oversee the hydrogen storage system.
Paolo Dellachà, CEO of De Nora, commented, "We are proud to announce our participation as a partner in this project of European significance, which will represent the first use case of the new Dragonfly® electrolyzer, a versatile and high-quality product that will make our role as facilitators of the energy transition even easier. The market launch of this solution is the tangible result of our significant investments in R&D, which is key to maintaining our position as a company at the forefront of the sectors where we operate”.
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About De Nora
Industrie De Nora is an Italian multinational company listed on the Euronext Milan stock exchange specializing in electrochemistry, a leader in sustainable technologies, and plays a vital role in the industrial green hydrogen production chain. The company has a portfolio of products and systems to optimize the energy efficiency of critical industrial electrochemical processes and a range of products and solutions for water treatment. Globally, Industrie De Nora is the world's largest supplier of electrodes for the major industrial electro-chemical processes (serving a broad portfolio of customers operating in the fields of chlorine and caustic soda production, components for electronics, and surface finishing). Industrie De Nora is among the world's leading suppliers of water filtration and disinfection technologies (for the industrial, municipal, swimming pool and marine sectors). Leveraging its well-established electrochemical knowledge and proven manufacturing capability, 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. In this sector, the company now holds 25.85% of thyssenkrupp nucera AG &Co. KGaA, a joint venture established with the thyssenkrupp group.
Founded in 1923, Industrie De Nora generated total revenues of around EUR 853 million and an Adjusted EBITDA of approximately EUR 191 million in 2022. The Company's growth process has developed organically through its continuous innovation as regards external lines through acquisitions in the U.S., Asia, and Europe. De Nora’s intellectual property portfolio currently includes more than 260 patent families with more than 2,800 territorial extensions.
The De Nora family owns 53.3% of the company’s share capital. Snam S.p.A. is a minority shareholder with about 21.6% of the capital.
Investor Relations
Chiara Locati
+39 02 2129 2124
ir@denora.com
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