Industrie De Nora S.p.A.

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Industrie De Nora S.p.A., founded in 1923 and headquartered in Milan, Italy (listed on Euronext Milan since 2022), is an Italian multinational specializing in electrochemistry and a leader in sustainable technologies, playing a vital role in the industrial green hydrogen production chain as the world's largest supplier of electrodes for major industrial electrochemical processes. The company's advanced alkaline water electrolysis (AWE) technology has, in recent years, maximized operating current density and reduced overall power consumption, pushing AWE performance toward PEM electrolysis levels while maintaining lower CAPEX, with De Nora's proprietary electrodic packages enabling the lowest Total Cost of Hydrogen for Power-to-Hydrogen installations -- exemplified by electrodes supplied for McPhy's Augmented McLyzer electrolyzer technology at one of the largest green hydrogen plants in Europe. De Nora holds a 25.85% stake in thyssenkrupp nucera AG & Co. KGaA (a joint venture with the thyssenkrupp group), through which thyssenkrupp nucera has received multiple orders for electrolyzer cells to produce more than 700 MW of green hydrogen via De Nora's subsidiary DeNora Deutschland GmbH, and signed a memorandum of understanding with Asahi Kasei for joint development of small-scale containerized pressurized alkaline water electrolyzers. Generating approximately EUR 853 million in total revenues in 2022, De Nora continues leveraging its century of chlor-alkali and electrochemical expertise -- including deployment of its 1MW-capacity Dragonfly on-site electrolytic hydrogen generation system for hard-to-abate steel production under the European Horizon 2020 HyTecHeat project -- to advance the global green hydrogen economy.