Thyssenkrupp Nucera laid out growth plans on Monday after reporting strong sales and operating income, as the company works to meet growing demand for the green hydrogen hailed as key to decarbonising the German economy.

“Another strong global workforce expansion is planned and necessary to achieve our growth targets,” Chief Executive Werner Ponikwar told reporters after presenting quarterly results.

The company, which Thyssenkrupp majority-owns after taking it public in a blockbuster market debut in July, also wants to expand production with new locations, including in India.

While in its infancy, so-called green hydrogen, which is produced using renewable energy, has been identified as a key energy source in the push towards a lower-carbon economy in Germany and other European Union countries.