Friedrich Vorwerk expected to be highly valued in coming initial public offering
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Combustion Industry News Editor
In a measure of the expectation of revenues that hydrogen will bring in the years to come, German energy infrastructure company Friedrich Vorwerk is expecting to be valued at around €800 million to €1 billion (US$948-1,185 million) after a fundraising round in an initial public offering due to be held this quarter. The capital is earmarked for spending to “accelerate growth in the hydrogen market”, according to Reuters, with Vorwerk involved in pipeline, cable and plant construction for the gas, electricity and hydrogen markets. With the European Union looking to promote blue and especially green hydrogen projects, it is unsurprising to see the market backing companies such as Vorwerk.