Delayed projects led to revenues in Danish green tech business Topsoe’s catalyst and technology businesses falling by 10% and 14% respectively in the first half of 2025.

Overall revenues amounted to DKK3,679m ($571.8m) compared with DKK4,150m ($645m) in the same period in 2024.

CEO Roeland Baan said its financial performance was impacted by uncertainty in the market globally, but said he remained confident in the long-term growth of fuels and chemicals for the energy transition.

“We will continue to take a leading role in providing advanced science-based solutions for conventional fuels and the decarbonisation of energy-intensive industries and long-distance transportation,” he said.

Despite the decline, its solid oxide electrolyser cell (SOEC) manufacturing facility in Herning in Denmark is nearing the final stage of readiness for industrial production and is expected to open before the year end.

The flagship project will scale the technologies needed to produced green hydrogen and derivatives, such as e-ammonia and e-methanol.

It is set to be the world’s largest electrolyser manufacturing plant with 500MW capacity per year, with the capabiltiy to expand to 5GW, and will support the roll out of commercial-scale power-to-X solutions.

In its upcoming In Conversation with Ceres webinar on 3 September, sister title H2 View will speak with Chief Product Officer Nick Lawrence and Principal Product Applications Specialist Chandra Macauley to discuss SOEC’s green ammonia potential. Click here for more details.