Technip Energies - THNPY STOCK NEWS

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.

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.