Thyssenkrupp Nucera’s green hydrogen ambitions in the U.S. face a significant reset following President Donald Trump’s recent policy changes that scale back incentives for clean energy.
CEO Werner Ponikwar confirmed the company has “sorted out” projects unlikely to be realized under the revised framework, which removes certain tax credits for low-carbon energy and accelerates qualification deadlines for funding to the end of 2027. The move marks a potential retreat from parts of the U.S. market, even as global demand for electrolysis technology remains strong.
The policy shift directly affects the feasibility of large-scale hydrogen projects, where investment decisions are often tied to predictable subsidy frameworks. By removing or tightening incentives, the administration has compressed the economic window for new developments, prompting Thyssenkrupp to focus only on U.S. projects that can begin construction before the 2027 deadline. According to Ponikwar, this will require a more selective approach and greater patience than previously anticipated, with viable projects being accelerated while others are abandoned.
The company’s pivot underscores the sensitivity of capital-intensive hydrogen investments to political timelines and regulatory certainty. If U.S. opportunities fail to materialize, Ponikwar indicated that allocated resources would be redirected elsewhere—although specifics remain unclear. Thyssenkrupp’s share price has risen 1.3% year-to-date but remains under retail investor pressure, with sentiment leaning bearish according to Stocktwits data.
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