Thyssenkrupp considering IPO or SPAC for hydrogen business, says CEO Thyssenkrupp is considering going public with its hydrogen business. German multinational Thyssenkrupp is considering an initial public offering (IPO) or a deal with a special purpose acquisition company (SPAC) for its hydrogen business, Martina Merz, its chief executive, has said. A 66-34 joint venture of Thyssenkrupp and Italy’s De Nora, Thyssenkrupp Uhde Chlorine Engineers (TKUCE), is the world’s largest supplier of chlor-alkali membrane technologies used to produce hydrogen. Two people familiar with the matter said the bank was Citi, which declined to comment. “The main objective behind it is to fund further growth in this business. So we would want to dedicate the potential funds into growth. And that can, of course, mean also to find partners in order to grow,” Merz said.