Bosch Invests 500 Million Euros into Hydrogen
Bosch has announced a $500 million investment in developing components for hydrogen electrolysis, which would help accelerate the adoption of green hydrogen in transportation and other industries. Electrolyser stacks are expected to be on the market by 2025, with a market value of 14 billion euros by 2030.
Each stack is made of several hundred connected cells that use electricity to split water into hydrogen and oxygen.
The hydrogen is then compressed into a tank before being reversed by a fuel cell in a car, which provides energy for the motors by mixing hydrogen and oxygen into the water.
Last week, Bosch CEO Stefan Hartung said that the conflict in Ukraine underlined the need to develop new energy sources, including hydrogen.
Stefan Hartung said: "Our concern is to secure energy supplies, with the price of oil and gas remaining at a very high level. Green hydrogen is essential if we want to make our world carbon-neutral... Hydrogen can help to mitigate global warming in every sector."
Long-haul trucks will be the first to adopt hydrogen, according to Bosch, as they have seen in New Zealand with Hyundai's local debut of Xcient hydrogen trucks.
Last year, Hyundai stated that hydrogen technology is better suited than battery electric vehicles as a heavy-duty, reliable, and future cost-effective substitute for diesel trucks because hydrogen trucks offer a longer range, shorter refuelling time, and greater payload than battery-electric trucks.
Although the current focus is on larger machines, Bosch's hydrogen technology could make its way into passenger vehicles as well.
The electrolyser project will be led by Thomas Pauer, a Bosch executive vice president. However, he does not intend to become a full powerplant supplier, preferring to keep Bosch as a component supplier.
"We're surprised by how strongly the market is growing. The world is realising that we need a different energy source. I don't think we can solve our energy issues without hydrogen." Pauer said.
Source: Stuff
