German-based engine maker MAN Energy Solutions is stepping up its funding in future hydrogen manufacturing know-how.
The firm is taking full management of electrolyzer producer H-TEC Systems. MAN, which already held 40 p.c of H-TECH from a 2019 deal, is buying the controlling stake from majority proprietor GP Joule. MAN will now personal 99 p.c of the Augsburg-based electrolyzer agency.
Electrolyzers cut up water into its hydrogen and oxygen elements, creating H2 for potential future use within the energy technology sector. Hydrogen doesn’t include carbon inside its composition.
“GP Joule acknowledged the potential of H-TEC SYSTEMS at an early stage, and positioned their belief in inexperienced hydrogen for a future with renewable energies. This vanguard could be seen in our main electrolyzers,” Frank Zimmerman, H-TEC’s administration board spokesman, mentioned in an announcement.
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Many conventional gamers within the fossil-fired technology gear business are investing large in analysis and growth of potential hydrogen or gas-H2 mixes within the turbine and engine applied sciences. Those consists of Siemens, GE, Mitsubishi Power, Cummins, Ansaldo and MAN Energy Solutions.
“Today, H-TEC SYSTEMS affords electrolyzers within the megawatt vary,” MAN CEO Uwe Lauber mentioned. “The goal now’s to arrange the corporate for serial manufacturing as a result of inexperienced hydrogen goes to grow to be a mass market.”