Source: Bosch announcement
STUTTGART and RENNINGEN, Germany – When it comes to green hydrogen, Bosch is pressing for gas: In the interest of effective climate action, the company plans not only to use this new fuel, but also to be one of the companies that produce it. This is why Bosch is embarking on the development of components for electrolyzers, which use electrolysis to separate water into hydrogen and oxygen.
Ideally, the electricity for this purpose is generated from renewable sources such as wind or photovoltaic energy, in which case the result is known as ‘green hydrogen’.
“We can no longer afford to delay climate action, so we aim to use Bosch technology to support the rapid expansion of hydrogen production in Europe,” said Dr. Stefan Hartung, Chairman of the Board of administration of Robert Bosch GmbH, during the presentation. annual company figures.
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“To do this, we will leverage our know-how in fuel cell technology,” added Dr. Markus Heyn, Bosch Board Member and Chairman of the Mobility Solutions business area.
Building on this expertise, Bosch will hand over the development of the electrolyzer components to the Mobility Solutions business area, investing up to 500 million euros in this company by the end of the decade.
In light of energy diversification, the move away from fossil fuels and the need to reduce CO2 emissions, the demand for green hydrogen is growing rapidly – not only in energy-intensive industries such as steel, chemicals and heavy freight, but also in private real estate. According to the EU, demand is expected to reach around eleven million tonnes per year by 2030.
Bosch expects the global market for electrolyser components to reach a volume of approximately $16.6 billion over the same period, with Europe expected to experience the highest growth rates. To help businesses and society reduce their dependence on fossil fuels and harness new forms of energy, Bosch intends to invest some $3.5 billion in climate-neutral technologies, such as electrification and hydrogen, over the next three years.
To see the full announcement, click HERE.