GTT Initiates Strategic Review for Elogen Amid Challenging Green Hydrogen Market Conditions
Paris -- In a challenging market environment for green hydrogen and with the aim of limiting the financing needs of its subsidiary Elogen, GTT announces that it is undertaking a strategic review of the latter's activities.
This strategic review will lead the Group to explore all possible options regarding its subsidiary. Its initial conclusions are expected to be presented in the coming weeks, and no later than at the release of the 2024 annual results. Until then, the Group will refrain from commenting on the options under consideration.
Furthermore, GTT confirms its 2024 revenue and EBITDA targets, which are expected to be at the top of the guidance ranges, as indicated in October 2024.
About Elogen
Elogen is the French leader in proton exchange membrane (PEM) electrolysis, specialised in the design and assembly of electrolysers for producing green hydrogen. We leverage our innovative spirit and cutting-edged technological know-how to serve the industry and energy markets in France and around the world. https://elogenh2.com/en/
About GTT
GTT is a technological expert in containment systems with cryogenic membranes used to transport and store liquefied gases. For 60 years, GTT has been designing and providing cutting-edge technologies for a better energy performance, which combine operational efficiency and safety, to equip LNG carriers, floating terminals, land storage, and multi-gas carriers. GTT also develops systems dedicated to the use of LNG as fuel, as well as a full range of services, including digital services in the field of Smart Shipping. The Group is also active in hydrogen through its subsidiary Elogen, which designs and assembles electrolysers notably for the production of green hydrogen. https://gtt.fr/
GTT Initiates Strategic Review for Elogen Amid Challenging