Hydrogen investment appetite has become more selective
Investors are becoming pickier about where to put their money in the sector, with some now waiting for the first wave of projects
Capital markets retain plenty of liquidity for the hydrogen sector, but some investors are now waiting for the next phase of projects, according to experts in the space. The IPO in mid-July of Thyssenkrupp Nucera, which listed on the Frankfurt Stock Exchange for €20 ($22.5) a share, valued the company at €2.53b, with French Bank BNP Paribas and Saudi Arabian sovereign wealth fund PIF both buying 4.25m and 7.58m shares respectively. “The Thyssenkrupp Nucera transaction… showed that there is still liquidity for the sector,” Antoine Trieux, head of new energies at French bank Natixis, told Hydrogen Economist. “We are seeing more activity in the US now, post IRA” Trieux, Natixis Investme
Also in this section
2 December 2025
Oil major cites deteriorating demand and a planning debacle as it abandons one of UK’s largest blue hydrogen projects
1 December 2025
Project at Emden in northwest Germany due online in 2027, but wider ramp-up of clean hydrogen sector in Germany will require overhaul of government policy, company warns
25 November 2025
The northwest African country’s vision of integrating green power, molecules and steel is alive and kicking, and serves as a reminder of hydrogen’s transformative potential
19 November 2025
The creation of ‘lead markets’ to generate hydrogen demand in the EU has potential, but implementation would pose complex challenges for producers and industrial offtakers






