Friedrich Vorwerk, a German energy infrastructure firm, is seeking to raise €90 million ($106 million) through an initial public offering (IPO) that was launched on the Frankfurt stock exchange in the first quarter of 2021.
The company is seeking to accelerate growth in the hydrogen market, according to Reuters, which reported that the listing could value Friedrich Vorwerk at €800 million ($950 million) to €1 billion ($1.2 billion).
“Hydrogen is the key to a successful clean energy transition and one of the most dynamically growing markets in the energy sector today,” according to a statement on the company’s website. “With the European Green Deal, the E.U. has set out to become the first carbon-neutral continent in the world by 2050 ... This challenging aim requires not only the construction of alternative electric and molecular energy generation sources but also an overhaul of today’s energy infrastructure in Europe.”
