Bosch to develop water electrolyzer components
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The company has announced that it will investing €500 million into the technology by 2030.
Bosch has announced new intentions to expand into developing water electrolyzer components for splitting H2O into oxygen and hydrogen fuel.
The components can be used in the equipment required for the production of green hydrogen.
The water electrolyzer components will be used for water electrolysis which, when powered by renewable sources of energy like solar and wind, can result in green hydrogen fuel. That form of energy is made without producing greenhouse gas emissions and is also used carbon emission-free. The demand for carbon-free fuels has been skyrocketing as companies and countries worldwide work on achieving their decarbonization targets.
Bosch will pull from its fuel cell expertise and will assign the component development to the Mobility Solutions business sector. This will involve an investment of as much as €500 million by the close of 2030.
This type of clean energy is appropriate for use in a spectrum of different industries and applications, ranging from shipping to long-haul trucks and from steelmaking to chemicals.
As a result, water electrolyzer equipment is expected to be in very high demand to produce the H2.
According to the EU, demand for hydrogen fuel is expected to rise by about ten million metric tons per year by 2030. Bosch itself expects that that demand will cause the global market for the components it will be making to increase to a volume of about €14 billion within that same span of time. Europe is expected to see the highest growth rate.
To support the reduction of fossil fuel dependency by business and society as a whole, and support the adoption of new forms of energy, Bosch plans to make an investment of about €3 billion into climate-neutral tech, such as hydrogen fuel and electrification. That investment will take place across the next three years.
The company will be developing the fuel cell stack, which is the key component of the water electrolyzer. It will be comprised of several hundred individual cells, linked in series. When used to produce electricity, their only emissions are heat and water.