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MarketScreener Homepage  >  Equities  >  Xetra  >  Siemens AG    SIE   DE0007236101

SIEMENS AG

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Siemens : to build large CO2-free hydrogen production plant in Bavaria

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09/27/2020 | 01:25am EDT

Germany has pledged to be greenhouse gas-neutral by 2050. To this end, all sectors that use energy, such as transportation and industry, must press ahead with decarbonization. The plant in Wunsiedel will serve as a model for all of Germany. It will convert the renewable energy available in this region, e.g., from photovoltaics and wind power, into storable hydrogen (H2), making it available for applications in mobility and industry. This is especially useful when, on sunny and windy days, more energy from renewable sources is produced than needed.

The electrolysis plant will be built in the Wunsiedel Energy Park next to the Siemens manufactured battery storage facility already in operation, complementing the forward-looking energy concept. 'This project is another element of a practised, successful technology partnership between Siemens and SWW Wunsiedel GmbH. We want to achieve locally already today what Germany is targeting for 2050, namely a complete energy transition across all sectors,' stated Uwe Bartmann, CEO of Siemens Germany and CEO of Smart Infrastructure Regional Solutions & Services Germany.

The project will give the northern Bavaria region its very own hydrogen source. Until now, gas for end customers had to travel a relatively long way. The hydrogen will be filled into gas cylinders for local distribution and shipped by truck to local and regional end customers, mostly in Upper Franconia, the Upper Palatinate, southern Thuringia and Saxony, as well as Western Bohemia (Czech Republic). The plant will also help ease grid bottlenecks and provide flexibility for the grid. A public hydrogen filling station for trucks and buses may be added later at the same location to aid the conversion of heavy-duty traffic and public transportation to CO2-free drive technology.

Disclaimer

Siemens AG published this content on 25 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 September 2020 05:24:06 UTC


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