Hydrogen electrolysis is one of the barriers to overcome to make energy renewable and its use can be extended to the transport and real estate sectors.
The main problem with electrolysis is that the price of natural gas is lower than that of renewable electricity, so it still increases the cost of using natural gas to produce hydrogen through combustion. The main drawback is that this method still emits greenhouse gases into the atmosphere.
Bosch, one of the major component companies that sees more potential in this technology,
stated in its latest presentation of the results that it would invest €500 million in electrolysis cellswhich will start serial production in 2025.
The mechanism of this system works by hundreds of interconnected cells that separate water molecules into hydrogen and oxygen. If sustainable energy is used, this results in green hydrogen that can be stored and transported.
The company expects the global hydrogen market to reach 14 billion euros by 2030. Bosch’s product portfolio includes fuel cells for the automotive industry and also develops stationary systems for industrial energy consumption.
At the moment, this propulsion technology remains a small niche in the market, as the charging infrastructure is very expensive and thus practically non-existent. Some manufacturers, such as Stellantis or Renault, estimate that commercial and industrial models will be the first to use it.
In the 2021 financial year, Bosch managed to increase its turnover by 10% to 78,748 million euros,
surpasses 2018’s 78,465, his historic record so far These in turn translated into an operating profit of 2,815 million, 69.6% more than a year ago.
The net result amounted to 2,499 million eurosreaching another impressive milestone: a 233.6% improvement over the previous year.
Europe remains the most important region for the manufacturer, with a 53% share of turnover (EUR 41.3 billion), and the most important division remains Mobility Solutions (the car company), with a turnover of EUR 45.3 billion.
Looking ahead to 2022, the first quarter ended with a revenue increase of 5.2%. “A solid start in line with the forecast of a 6% improvement in 2021 figures,” said the group’s chief financial officer.
Markus Forschner However, she estimates that the operating result will grow between 3% and 4%, weighed down by raw material prices.
Source: La Verdad
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
