Bosch to Develop Components for Hydrogen Electrolysis
Bosch is planning not only to use green hydrogen but also to be one of the companies producing it. This is why the German company is branching out into the development of components for electrolyzers, which use electrolysis to split water into hydrogen and oxygen.
Ideally, the electricity for this purpose is generated from renewable sources such as wind or photovoltaic power, in which case the result is known as green hydrogen. “We cannot afford to delay climate action any longer, so we aim to use Bosch technology to support the rapid expansion of hydrogen production in Europe,” said Stefan Hartung, chairman of the board of management of Bosch.
“To do this, we will leverage our know-how in fuel-cell technology,” added Markus Heyn, member of the board of management of Bosch and chairman of the Mobility Solutions business sector. Drawing on this expertise, Bosch will assign the development of electrolyzer components to the Mobility Solutions business sector, investing up to 500 million euros in this venture by the end of the decade.
In light of energy diversification, the move away from fossil fuels, and the need to reduce CO2 emissions, demand for green hydrogen is growing rapidly – not only in energy-intensive industries such as steel, chemicals, and heavy-duty freight but also in private real estate. According to the EU, demand is set to rise to some ten million metric tons a year by 2030.
Bosch forecasts that the global market for electrolyzer components will increase to a volume of around 14 billion euros over the same period, with Europe set to see the highest rates of growth. To help businesses and society reduce dependency on fossil fuels and harness new forms of energy, Bosch intends to invest some three billion euros in climate-neutral technology, such as electrification and hydrogen, over the next three years.