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 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.
Technip Energies has been awarded an EPCC contract by NTPC for a 5 MW Hydrogen Generation Plant using PEM technology in Madhya Pradesh, India. This project aims for large-scale green hydrogen production and will integrate renewable energy sources in the future. NTPC plans to set up two additional units: a CO2 capture facility and a methanol unit using captured CO2 and hydrogen. Technip Energies highlights its commitment to energy transition and project management capabilities, marking a significant move towards decarbonization in the Indian energy sector.
NOVA ENERGIES, a joint venture of Technip Energies and NIPIGAS, has secured a Pre-FEED contract from SIBUR for developing Carbon Capture solutions at the ZapSibNeftekhim plant. The project aims to create optimal technology solutions for capturing and utilizing CO2 from the plant and its associated power station. This initiative reinforces Technip Energies' position in low-carbon solutions and marks a significant step in energy transition efforts in Russia. NOVA ENERGIES offers extensive expertise in engineering and project development related to carbon management and energy transition.
Technip Energies has announced the nomination of Colette Cohen as a non-executive director, effective at the 2022 Annual General Meeting of Shareholders. Cohen, currently the CEO of the Net Zero Technology Centre, brings over 25 years of experience in the energy sector, having held senior positions at companies like BP and ConocoPhillips. Joseph Rinaldi, Chairman of the Board, expressed enthusiasm for Cohen's appointment, citing her expertise in energy transformation and advocacy for women in the industry as assets for the board.
Technip Energies will announce its nine months 2021 financial results on October 21, 2021, at 07:30 CET. A conference call is scheduled for the same day at 13:00 CET. Participants can access the call via specific phone numbers or join a webcast. The company is a leader in Engineering & Technology, focusing on energy transition sectors such as LNG, hydrogen, and CO2 management. With operations in 34 countries, they emphasize innovative project delivery to accelerate sustainable energy solutions.
Technip Energies has signed a Memorandum of Understanding (MoU) with the National Petroleum Construction Company (NPCC) to promote energy transition in the UAE and the MENA region. The agreement, formalized on September 21 at the GASTECH conference, aims to create a Joint Venture (JV) that combines Technip’s technological expertise and NPCC’s regional capabilities. The partnership will focus on CO2 capture, hydrogen projects, and other innovative solutions to support decarbonization efforts.