Thyssenkrupp Rolls Out a Climate First, Nears an €8bn Submarine Deal, and Sees a Major Investor Quietly Exit

Thyssenkrupp achieves carbon capture milestone, nears €8bn Indian sub deal, gains hydrogen policy boost. Investor halves stake but stock rises 1.43%.

Thyssenkrupp has advanced on three distinct fronts this week, cementing a narrative that stretches far beyond its steelmaking roots. A technological breakthrough in carbon capture, exclusive talks for a massive Indian naval contract, and fresh policy tailwinds for its hydrogen unit have all arrived in quick succession — even as one of the conglomerate’s largest shareholders dramatically reduced his exposure.

The company’s shares reacted with a shrug, climbing 1.43% on the day to €11.70, a sign that investors are focusing on the long-term horizon rather than the immediate exit of a key stakeholder.

Major investor halves his stake

Sunil Jagwani, who held 9.13% of Thyssenkrupp’s equity, cut his position to just 3.85%. Such a move would typically rattle the market, but the stock held steady. The reduction comes at a time when the group is juggling multiple strategic shifts that could reshape its earnings profile.

A world first in cement decarbonisation

In Mergelstetten, Thyssenkrupp inaugurated the world’s first industrial plant using Pure-Oxyfuel technology — part of the Catch4Climate project. Developed jointly by subsidiaries Thyssenkrupp Polysius and Thyssenkrupp Calvion, together with Heidelberg Materials and Schwenk Zement, the facility is designed to capture up to 95% of the CO? emitted during clinker production. With a daily capacity of around 450 tonnes of clinker, the site is set to become a global reference plant.

Cement manufacturing is one of the heaviest industrial emitters, and Thyssenkrupp sees this as a gateway to an entirely new business line beyond steel. The technology could eventually be adapted for other hard-to-abate sectors, broadening the group’s environmental-technology portfolio.

Billions on the water: India submarine talks go exclusive

On the defence side, Thyssenkrupp’s naval arm TKMS has become the sole remaining bidder for India’s Project 75(I) submarine programme, valued at roughly €8 billion. The plan calls for six conventional submarines to be built for the Indian Navy. Spanish rival Navantia, together with local partner Larsen & Toubro, was unable to demonstrate key technologies and has been eliminated.

Since September 2025, TKMS has been negotiating exclusively with the Indian procurement authority alongside state-owned Mazagon Dock Shipbuilders. A TKMS spokesperson confirmed that the talks are in their final phase, though no contract has been signed yet. The deal is widely seen as the last major hurdle before the order is formally awarded.

Steel exit completed; supply agreement shortens

Parallel to the naval and climate advances, Thyssenkrupp is pressing ahead with the restructuring of its steel business. On 8 July, Thyssenkrupp Steel Europe and Vallourec signed the final paperwork to exit their joint venture HKM, clearing the way for Salzgitter to take over and begin integration.

One consequence of the withdrawal is that the supply contract between HKM and Thyssenkrupp Steel will now expire in 2028 — four years earlier than originally planned. The early termination adds pressure on the steel unit to secure alternative sources of slab, but it also simplifies the group’s balance sheet ahead of a potential partial listing of its steel division.

Hydrogen unit gets a legislative lift

Additional support came from Berlin, where the Bundesrat finally approved the Kraftwerksgesetz — a law that from the end of 2026 will tender 11 gigawatts of new hydrogen?ready gas-fired power plants. Those plants are slated to switch entirely to green hydrogen by 2045, creating a long-term demand pipeline for electrolysis equipment.

Thyssenkrupp Nucera, the group’s electrolyser subsidiary and a global leader in the field, stands to benefit directly. The sector’s growing political clout was underscored by Nucera CEO Werner Ponikwar’s appointment to the National Hydrogen Council, effective 9 July 2026.

Stock metrics: strong trends, but choppy waters

Year to date, Thyssenkrupp shares have gained roughly 21%. They currently trade 5.77% above their 50-day moving average of €11.06 and 17.57% above the 200-day line of €9.95. The 52-week high of €13.24, set in October 2025, is about 11.7% away. At the other end, the stock is nearly 65% above the March 52-week low of €7.10.

The relative strength index stands at 56.9, neutral territory. However, the annualised 30-day volatility remains elevated at 51.8%, a reminder that Thyssenkrupp’s transformation is still a work in progress — and that events such as the Indian submarine award or further steps in the steel divestment could trigger sharp moves in either direction.