Technip Energies - THNPY STOCK NEWS

Technip Energies has announced the convening notice for its Annual General Meeting (AGM) scheduled for May 5, 2022, at 10:00 CET in Schiphol, the Netherlands. The meeting's agenda, explanatory notes, and other relevant documents are accessible online. Technip Energies is a key player in energy transition with significant market positions in Liquefied Natural Gas, hydrogen, and CO2 management, operating in 34 countries with approximately 15,000 employees. The company is listed on Euronext Paris and also has a Level 1 sponsored ADR program.

Technip Energies (Euronext Paris: TE) has announced a share buy-back program valued at 29,850,000 euros, set to continue until December 31, 2022. This initiative aims to repurchase up to 2,700,000 shares, accounting for 1.5% of its issued share capital, to fulfill obligations under equity incentive plans. The company currently holds about 3 million treasury shares, equating to 1.7% of its total share capital. The buy-back will be executed by a designated broker, adhering to market regulations and operational conditions.

Technip Energies has published its 2021 Annual Report, which is now filed with the Dutch Authority for the Financial Markets (AFM). The report can be accessed online. The company plans to hold its Annual General Meeting on May 5, 2022, in Schiphol, the Netherlands, with detailed documents available on their investor relations page. Technip Energies, a key player in engineering and technology for the energy transition, operates in 34 countries and focuses on sectors including Liquefied Natural Gas, hydrogen, and sustainable chemistry.

Technip Energies has signed a Memorandum of Understanding (MoU) with Greenko ZeroC to explore Green Hydrogen project development in India. The partnership focuses on sectors including refining, petrochemicals, and power plants, aiming to enhance energy transition efforts. Greenko will operate and own the assets while Technip Energies will provide engineering and project management support. Both companies leverage complementary strengths in hydrogen, renewable energy, and technology to deliver scalable carbon-neutral solutions.

Technip Energies reported strong financial results for FY 2021, showcasing an adjusted revenue growth of 11% year-over-year, reaching €6.67 billion. The Recurring EBIT margin improved to 6.5%, with net profit at €251.4 million and diluted EPS of €1.39. The company announced its first dividend of €0.45/share and secured nearly €10 billion in orders, 94% from outside Russia, boosting backlog to €16.39 billion. Despite challenges due to the Ukraine war, Technip remains confident in its diversified business model and ongoing projects.

Technip Energies is closely monitoring the situation in Russia and Ukraine, prioritizing the safety of its employees. Operations remain unaffected. The company emphasizes its expertise in managing contracts in challenging environments, which helps mitigate risks and support its investments in strategic initiatives and dividends. As a leader in the energy transition, Technip Energies focuses on delivering solutions in Liquefied Natural Gas, hydrogen, and sustainable chemistry. The annual earnings release is scheduled for March 3, 2022.

Hy2gen AG has successfully completed a €200 million investment round, marking the largest private capital raise focused on green hydrogen to date. The funds will facilitate the construction of facilities across Europe, producing green hydrogen-based fuels, or e-fuels, for various sectors including transportation and industry. Key investors include Hy24, Mirova, CDPQ, and Technip Energies. Hy2gen aims to lead in green hydrogen production, already planning 880MW and developing an additional 12GW of projects.

Technip Energies has secured a significant Engineering, Procurement, Construction and Commissioning (EPCC) contract from PETRONAS Chemicals Fertiliser Kedah Sdn. Bhd. for a new melamine plant in Gurun, Malaysia. The project, utilizing CASALE Low Energy Melamine technology, will produce 60,000 tons per annum while recycling CO₂ to minimize its carbon footprint. Technip Energies will oversee project management and engineering, with Dialog E&C handling construction. This contract is valued between €50 million and €250 million, marking a key milestone in Technip Energies' operations in Malaysia.

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.