News
23 Dec 2020, 13:54
Julian Wettengel

Hydrogen can become billion-euro business for Siemens Energy – CEO

Handelsblatt

Hydrogen technology can become a key component of Siemens Energy’s business model, the company’s CEO, Christian Bruch, told Handelsblatt in an interview. “Hydrogen can become a billion-euro business for Siemens Energy,” said Bruch. He added that lower power prices, higher prices for CO₂ emission allowances and a rigorous expansion of renewable electricity would be necessary for the technology’s breakthrough. “The conditions have never been as good for hydrogen as they are now. Because of climate change, many companies see the need for action to reduce emissions,” Bruch told the newspaper.

Industrial giant Siemens has listed its power plant division on the stock exchange, leading to scrutiny and criticism of its activities in the fossil fuel sector. Hydrogen is seen as a major building block for a climate-friendly future energy supply, but most experts and the government say Germany will rely heavily on imports as it doesn't have enough space to to install the massive amounts of renewable energies required to make it.

All texts created by the Clean Energy Wire are available under a “Creative Commons Attribution 4.0 International Licence (CC BY 4.0)” . They can be copied, shared and made publicly accessible by users so long as they give appropriate credit, provide a link to the license, and indicate if changes were made.
« previous news next news »

Ask CLEW

Sören Amelang

Researching a story? Drop CLEW a line or give us a call for background material and contacts.

info@cleanenergywire.org

+49 30 700 1435 212

Journalism for the energy transition

Get our Newsletter
Join our Network
Find an interviewee