Munich-based machine builder invests in hydrogen project

Munich-based machine builder invests in hydrogen project

Siemens Energy AG only came into being in 2020 as a result of the spin-off under company law of the energy division of the Siemens Group. Power generation, power transmission and industrial solutions in the field of conventional and renewable energies form the business model of the new company. This also includes innovative fuels, for example green hydrogen. This article is based on the unique List of the 200 largest mechanical engineering companies in Germany.

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Haru Oni in windy southern Chile

Siemens Energy’s “Haru Oni” project is one of the first to enjoy funding under the German government’s national hydrogen strategy. The goal is the systematic development of a hydrogen market in Germany. To this end, the federal government has earmarked several billion euros in funding. International cooperative ventures for hydrogen production are also being promoted. The Siemens Energy project fits in exactly with this.

The company is investing in a plant in southern Chile that will use wind-powered electrolysis to produce green hydrogen, which can then be used for synthetic fuel to power vehicles and, in the future, aircraft. The location in the south of Chile was chosen because of the almost ideal wind conditions. The project requires a total investment volume of 30 million euros. Siemens Energy is contributing €22 million and the German government €8 million in subsidies. The plant is expected to produce 133,000 liters of the so-called e-fuel for the first time in 2022. If the calculations work out, this will be the starting signal for a gigantic production. In 2024, output is expected to reach 55 million liters, and in 2026 even 550 million liters.

Siemens Energy AG is decoupled from the rest of the Siemens Group – The Siemens Group is one of the largest companies in Germany. The shares have been traded on the stock exchange since the end of September 2020. Siemens holds about 35 percent of the shares. The company’s headquarters are still in Munich, but are to be moved to Berlin in the future. The Bavarian capital will remain the administrative headquarters.
Source: Spiegel Image source: Unsplash

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