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Investing.com -- Shares of thyssenkrupp nucera (ETR:NCH2) rose more than 3% on Friday after the company announced it had acquired key assets from Green Hydrogen Systems, a Danish manufacturer nearing bankruptcy.
The deal, which includes intellectual property and a test facility with a full-sized prototype in Skive, Denmark, is aimed at strengthening nucera’s portfolio in alkaline water electrolysis (AWE) technology.
The acquisition follows months of financial uncertainty for Green Hydrogen Systems, which had been unsuccessfully seeking new investors.
The purchase will be paid entirely in cash, but neither company disclosed the transaction value.
Analysts at RBC Capital Markets said the figure is likely close to GHS’s market capitalization of €10 million, which is relatively small compared to nucera’s cash reserves of more than €700 million at the end of the second quarter.
While the acquisition provides nucera with new technology in modular high-pressure electrolysis, RBC analysts noted potential concerns over whether the purchased assets fully align with the company’s innovation goals.
In a recent discussion, thyssenkrupp nucera CEO Werner Ponikwar acknowledged that companies leaving the sector early often have weaker technology, which may raise questions about the strategic fit.
Still, RBC views the move as opportunistic and well-timed, citing minimal financial impact and the potential to accelerate R&D efforts.