Germany’s MAN Energy Solutions has entered the hydrogen power market by buying a 40 per cent stake in electrolysis technology company H-TEC Systems.
The deal gives MAN Energy the option for a majority or complete takeover at a later date and is the company’s bid to establish itself in what it sees as one of the power markets of the future.
“We view this partnership with H-TEC Systems as a strategic milestone and as our entry into the hydrogen economy,” said Dr Uwe Lauber, chief executive of MAN Energy Solutions. “At present, we see this commitment as a developmental partnership. As the electrolysis market matures commercially, we estimate that it will become medium- or long-term in nature. By acquiring a stake in H-TEC Systems, we are positioning ourselves in this strategic future market at an early stage.”
H-TEC has been working on hydrogen technology for more than 20 years. It operates three sites in Germany developing and producing stacks and electrolyzers for manufacturing hydrogen with electricity.
Since 2010, it has been a subsidiary of GP JOULE, a project developer specializing in renewable energies and sector coupling, and that company retains around 60 per cent of the remaining shares.
Lauber added: “Hydrogen can be obtained from renewable energy sources in a climate-neutral fashion and forms the basis for the production of a variety of synthetic fuels using power-to-X technology. These ‘e-fuels’, as they are known, are urgently required to bring about a change in energy policy, since they allow renewable energy sources to be used even outside of electricity grids. The production of hydrogen consequently constitutes an important interface in the coupling of the energy, transportation and heating sectors.”
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