German conglomerate Bosch said this week that it will develop components for electrolyzers in the future.
The Stuttgart-based group wants to invest up to €500 million ($527.6 million) in the new business area by 2030. The particular focus will be on the development of the stacks for electrolyzers.
“Climate protection cannot wait. We want to support the rapid development of hydrogen production in Europe using Bosch technology,” said Stefan Hartung, CEO of Robert Bosch GmbH.
Markus Heyn, a Bosch board member and chairman of its mobility solutions division, said the group will draw on its fuel cell know-how. And the group sees huge growth opportunities. It expects the electrolyzer components market to reach a volume of around €14 billion by 2030, with the highest growth rates in Europe. Overall, it intends to invest about €3 billion in climate-neutral technologies over the next three years.
Bosch wants to develop electrolyzer stacks with control units, power electronics, and sensors for smart modules. It will also work with partners to achieve this. The smart modules will be delivered to manufacturers of electrolysis systems and industrial service providers from 2025. Bosch said the first pilot plant is scheduled to go into operation by as early as next year.