Electrolyser maker Enapter guides for EUR 30m in 2023 sales

German electrolyser manufacturer Enapter AG (FRA:H2O) on Thursday said it expects to deliver EUR 30 million (USD 31.6m) in revenues in 2023, doubling its 2022 result.

The company, which uses Anion Exchange Membrane (AEM) technology, guided for negative earnings before interest, tax, depreciation and amortisation (EBITDA) of EUR 8.5 million. It added it will be implementing cost-saving measures to accomplish these targets due to the current volatile market conditions, including in relation to costs.

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Enapter still aims to start production at its campus in Saerbeck, North Rhine-Westphalia next year, with sales from the site expected in 2024. The plant will initially ramp-up production of the megawatt class AEM-Multicore electrolyser, which is in high demand, according to the announcement.

Earlier this year, Enapter raised about EUR 53 million in a capital increase to support the construction of the factory.

The company confirmed its previously reduced 2022 revenue outlook of EUR 15.6 million in September, when announcing the start of serial production, after a delay hiccup, of the AEM electrolyser EL4.0 at its Pisa facility.

(EUR 1 = USD 1.052)