Snam’s short-term objectives also include the possible IPO of De Nora, a global leader in sustainable technologies, with significant growth potential both in components for the production of green hydrogen and in water treatment.
Snam’s investment in De Nora is approximately € 450 million (including the value attributed to the stake in the JV with TKUCE) for a stake of approximately 35.6%, with the aim of supporting the company in the future phase of growth, which could foresee an IPO in the course of 2022, compatibly with market conditions.
De Nora expects to close 2021 with over 600 million euros in revenues, up about 20% compared to 2020 and is developing a promising pipeline of hydrogen initiatives. The collaboration with De Nora allows Snam to further increase its ability to develop new projects at an international level. Snam will also support De Nora in the construction of an Italian Gigafactory of electrolysers for the production of green hydrogen, for which an application has been submitted as part of the IPCEI program. Both De Nora and the partnership with TKUCE now have an installed capacity to produce electrolysers of 1 GW each.