FRANKFURT, Aug 13 (Reuters) - Thyssenkrupp Nucera on Tuesday warned that growth in the hydrogen sector was hit in the third quarter by a lack of regulatory certainty for the nascent technology, adding this held back investment decisions by customers.
The comments come after the company, in which Thyssenkrupp holds a majority, scrapped its outlook for the alkaline water electrolysis business division last month, saying the ongoing uncertainty made a forecast impossible at the moment.
"Despite new projects, growth momentum was also significantly slowed in the third quarter due to the prevailing uncertainty in the market for green hydrogen," the company said along with final third-quarter results.
"Unresolved regulatory issues and a slow pace of funding commitments led to delays in the final investment decision (FID) of many potential customers regarding the necessary electrolysis capacities."
Still, orders stood at 1.3 billion euros ($1.42 billion) at the end of June, up from 1.2 billion at the end of March, the company said.
($1 = 0.9141 euros)
Reporting by Christoph Steitz Editing by Marguerita Choy and Rachel More
Source: Reuters