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    VK   FR0013506730

VALLOUREC

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Real-time Euronext Paris  -  09:18 03/10/2022 BST
10.31 EUR   +4.08%
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Vallourec Launches Vallourec® New Energies: its Portfolio of Solutions for the Energy Transition

09/20/2022 | 08:10am BST

The energy transition is gaining steam around the world with strong commitment from industry players to lower CO2 emissions, produce clean energy and maintain global warming to under 2°C. Vallourec joined the momentum back in 2019 supporting its customers in researching and developing new solutions for their low-carbon activities. Since then, our offer portfolio for Hydrogen, CCUS, Geothermal and Solar energy has grown, with interest coming from new and traditional customers and new orders steadily coming in. Today, Vallourec is grouping its offers for the energy transition under one commercial name, Vallourec® New Energies.

For over three years, Vallourec has been leveraging its expertise in materials and connections to test and qualify its products for use in new applications, from the insulation needed in closed-loop geothermal systems to the fluctuating temperatures experienced in CO2 injection wells to the potential embrittlement caused by contact with hydrogen. Important milestones have been achieved in each activity, proving Vallourec's role in the energy transition and resulting in a strong new offer: Vallourec® New Energies.

Quote

Vallourec® New Energies groups Vallourec's products and services for the energy transition under a new name that states our ambition to become an integral player in the industry. Our aim is to accompany customers in their energy transition activities by providing material expertise and robust products and solutions, but also by helping define new industry standards as these new markets continue to develop.

Ulrika Wising Senior Vice President Energy Transition at Vallourec
Heat-resistant

Vallourec has been a part of the geothermal industry for over 30 years, supplying heat-resistant tubulars to extract clean energy from the earth. Our latest VAM® connections are qualified up to 350°C under thermal cycles as per TWCCEP (Thermal Well Casing Connection Evaluation Protocol). In addition, Vallourec's innovative THERMOCASE® Vacuum Insulated Tubing (VIT) is an integral part of closed-loop geothermal systems which produce heat and power with minimal losses.
In 2022, we announced an investment in GreenFire Energy Inc., an American start-up developing Advanced Geothermal Systems based on its innovative technology called GreenFire's GreenLoop ™, of which THERMOCASE® VIT is an integral part.

Carbon-tight

Capturing CO2 from industrial activities and storing it underground is essential to limiting global warming. Vallourec has been playing an important role in the industry by testing and qualifying corrosion-resistant material to transport and store CO2 with impurities as well as qualifying its VAM® connections' tightness to store carbon in depleted oil reservoirs. Our VAM® connection qualification protocol tests the connection's sealability in several pressure and thermal cycling phases with temperatures lowering to -80°C in blow-out scenarios. Customers such as Neptune Energy have already approached Vallourec to research the materials most suitable for their respective CCS projects.

Hydrogen-smart

Hydrogen is a still developing but promising solution as a clean energy carrier. For the industry to achieve its potential, worldwide infrastructure must be put in place. Vallourec is able to provide solutions and pipes for hydrogen transport and storage in any quantity, from cylinder storage, to pipe containment and large underground storage. In 2022, Vallourec was chosen by Storengy, a subsidiary of ENGIE, one of the world leaders in underground natural gas storage and a key player in the development of renewable gases, to provide a complete range of tubular solutions and associated services for the "HyPSTER" project, the first renewable hydrogen storage project supported by the European Union.

Vallourec is also deeply involved in the development of new industry standards for hydrogen applications We developed a qualification protocol validating our VAM® connections' hydrogen sealability for hydrogen storage up to 560 bar. Vallourec is also participating in numerous joint industry projects and research programs to expand hydrogen knowledge such as as DNV's H2Pipe JIP, Norway's HYDROGENi research initiative and the European Commission's HyStorIES project.

Tracking the sun

Vallourec supplies the solar industry with torque tubes and cold formed open profiles for the construction of solar trackers. The torque tubes run the length of each row of panels, supporting the panels and enabling them to turn to continuously follow the sun from east to west. The open profiles stand vertically on the ground and support the torque tubes at intervals. In this way, the entire tracker structure is supported by the tubes and open profiles.

New horizons

Vallourec has already proven its commitment to the energy transition and today, with Vallourec® New Energies, we are ready to provide our customers with new solutions that meet the challenges of the energy transition.

Disclaimer

Vallourec SA published this content on 20 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 September 2022 07:09:00 UTC.


© Publicnow 2022
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Financials
Sales 2022 4 573 M 4 484 M 4 024 M
Net income 2022 -181 M -177 M -159 M
Net Debt 2022 1 124 M 1 102 M 989 M
P/E ratio 2022 -12,6x
Yield 2022 0,40%
Capitalization 2 266 M 2 222 M 1 994 M
EV / Sales 2022 0,74x
EV / Sales 2023 0,57x
Nbr of Employees 16 087
Free-Float 99,4%
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Mean consensus BUY
Number of Analysts 7
Last Close Price 9,91 €
Average target price 17,51 €
Spread / Average Target 76,8%
EPS Revisions
Managers and Directors
Philippe Guillemot Chairman & Chief Executive Officer
Sascha Bibert Chief Financial Officer
Dame Vivienne Cox Chairman-Supervisory Board
Philippe Carlier Senior Vice President-Technology & Industry
Naïla Giovanni Chief Digital & Information Systems Officer
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