Welcome to our dedicated page for Technip Energies news (Ticker: THNPY), a resource for investors and traders seeking the latest updates and insights on Technip Energies stock.
Technip Energies, represented in the U.S. by THNPY American depositary receipts, reports developments across engineering and technology work for the energy transition. Recurring updates include LNG project awards, Process Design Package and FEED work, hydrogen and ethylene technologies, blue and green hydrogen initiatives, sustainable chemistry, and CO2 management projects.
Company news also covers technology partnerships such as autothermal reforming and partial oxidation licensing for blue hydrogen, carbon capture collaborations using Shell CANSOLV technology, and Reju, its textile-to-textile regeneration business focused on polyester waste circularity. Governance and issuer updates include annual report publication, annual general meeting materials, financial-results scheduling, Euronext Paris listing references, and the Level 1 sponsored ADR program traded over the counter in the United States.
Technip Energies has acquired a 16.3% stake in X1 Wind, a renewable energy startup known for its innovative offshore wind turbine floater. This strategic investment is part of a funding round led by Technip, with participation from the European Innovation Council Fund. Technip will hold two seats on X1 Wind’s Board and contribute engineering support to develop X1 Wind’s technology, which aims for a lighter, more efficient mooring system for large-scale offshore wind farms. The collaboration targets the commercialization of this pioneering wind technology.
Technip Energies (Euronext: TE) is set to release its full year 2021 financial results and discuss its 2022 guidance on March 3, 2022 at 07:30 CET. A conference call will follow at 14:00 CET. The company specializes in the energy transition, with a strong presence in Liquefied Natural Gas (LNG) and hydrogen sectors. Technip Energies operates in 34 countries and employs around 15,000 people, focusing on innovative project delivery that supports sustainability efforts.
Technip Energies has announced an agreement to acquire 1.8 million ordinary shares from TechnipFMC at a price of €13.15 per share. This transaction is part of a broader sell-down by TechnipFMC to reduce its stake in the company from approximately 11% to around 7%. The settlement is expected by January 14, 2022. Other stakeholders, including Bpifrance Participations SA and HAL Investments, will also acquire shares as part of the sale. Technip Energies, a leader in the energy transition sector, operates in 34 countries with a workforce of 15,000.
Technip Energies and GE Gas Power have partnered to conduct a Front-End Engineering Design (FEED) study for the Net Zero Teesside (NZT) Power project in the UK. This groundbreaking project focuses on developing a large-scale amine-based carbon capture solution alongside an 860MW natural gas power station. Following the FEED study, the consortium will be invited to bid for the construction contract. The collaboration aims to decarbonize operations and establish the region as the UK's first decarbonized industrial cluster, utilizing Shell’s Cansolv CO2 capture technology with a planned capacity of 2 million tons per annum.
Technip Energies has secured a contract from the Abu Dhabi National Oil Company (ADNOC) to update the Front-End Engineering Design (FEED) for the Ghasha mega project, focusing on carbon capture integration. This project, part of the Ghasha Concession, is expected to produce over 1.5 billion standard cubic feet per day of natural gas. Production is slated to begin in 2025. The updated FEED aims to optimize project costs and enhance carbon capture efforts, reinforcing ADNOC's sustainability commitments.
Technip Energies has secured a significant Engineering, Procurement, and Construction (EPC) contract with Abu Dhabi Polymers Co. Ltd. (Borouge) for a new Ethane Cracker Unit in Ruwais, UAE. The contract, valued between €500 million and €1 billion, signifies Technip's strong presence and technological expertise in the region, promoting ADNOC's growth ambitions in the polyolefin market. CEO Arnaud Pieton emphasized the commitment to reduce CO2 emissions and enhance In-Country Value.
Technip Energies has partnered with Svante to advance carbon capture technology via a Memorandum of Understanding (MoU). This collaboration aims to enhance integrated solutions for industrial carbon capture in Europe, the Middle East, Africa, and Russia. Svante's solid sorbent technology efficiently captures carbon dioxide from industrial processes, targeting projects in cement, hydrogen, and petrochemical sectors. The venture also seeks to reduce capital costs associated with carbon capture and aligns with global net-zero goals, aiming to deploy over 2,000 carbon capture plants by 2040.
Technip Energies has entered into a Heads of Agreement with PETRONAS to form a strategic collaboration aimed at advancing carbon capture technologies. The partnership focuses on technologies like CryoMin and PN2, which are designed to enhance CO2 recovery. Both companies aim to accelerate the transition to a net-zero carbon future by developing innovative solutions and services that enable operators to reduce carbon emissions sustainably. This collaboration underscores Technip Energies' commitment to decarbonization and the energy transition.
Technip Energies reported a 9-month adjusted revenue growth of 11% year-over-year, totaling €4.91 billion. The adjusted recurring EBIT margin improved to 6.3%, and net profit rose to €159.7 million with diluted EPS of €0.88. The company updated its FY2021 guidance, projecting adjusted revenue between €6.5 - 6.8 billion and at least a 6% EBIT margin. Free cash flow for the first nine months reached €778 million. Additionally, HAL Investments acquired a 9.9% stake in the company.
Technip Energies has formed a strategic alliance with TÜV Rheinland to enhance Project Management Consulting Services across various industries, including infrastructure and energy. This 5-year collaboration aims to leverage the strengths of both organizations to target new market opportunities and develop high-value services for clients worldwide. The alliance aligns with Technip Energies' strategy to grow its advisory business, supporting its leadership in energy transition technologies such as Liquefied Natural Gas and hydrogen.