Thyssenkrupp Gains Ground as Brussels Signs Off on Green-Steel Subsidy and Hydrogen Ramp-Up Gets More Leeway

Thyssenkrupp shares climbed 4.2% on Monday to EUR 12.36, riding a broadly firmer German equity market as falling oil prices and hopes of progress in the Ukraine peace efforts lifted sentiment at the start of the week, according to Dow Jones.

Behind the price move, the industrial group has cleared two structural hurdles in quick succession. The definitive funding notice for its tkH2Steel decarbonisation project arrived on 30 October, a document the company described as a milestone. The amended terms attached to the subsidy allow a step-by-step, more flexible ramp-up of the hydrogen share in the process.

Duisburg Start Pushed to 2029

The direct-reduction plant in Duisburg will now come on stream in 2029 rather than the originally planned 2027. A spokesman for Thyssenkrupp Steel Europe confirmed the shift on Friday, attributing the delay mainly to the engineering phase.

The hydrogen-based green-steel project carries a total price tag of around EUR 3 billion, with state support of up to EUR 2 billion. The now legally binding amended notice governs the conditions attached to that funding for the project as it proceeds.

tk accelis Takes Flight

On the corporate restructuring front, Thyssenkrupp completed the carve-out of tk accelis with the materials trader and service provider's debut on the Frankfurt stock exchange on 28 October. The parent retained 51% of the shares, according to its own statements, leaving the unit to operate independently.

Operationally, subsidiary Thyssenkrupp nucera reported on Thursday that it had commissioned a chlor-alkali plant for Kutch Chemical Industries in Padana, in the Indian state of Gujarat.

Investors will get their next detailed look at the group on 8 December, when Thyssenkrupp publishes its 2025/2026 annual report alongside its annual press conference and a telephone call for analysts and investors.