Investing.com investing.com 13 Jan, 2021 10:15 am

Siemens Gamesa, Siemens Energy tap hydrogen boom in wind alliance By Reuters

Siemens Gamesa, Siemens Energy tap hydrogen boom in wind alliance By Reuters
Exclusive: Siemens Gamesa, Siemens Energy tap hydrogen boom in wind alliance

FILE PHOTO: A model of a wind turbine with the Siemens Gamesa logo is displayed outside the annual general shareholders meeting in Zamudio By Christoph Steitz, Tom Käckenhoff and Vera Eckert FRANKFURT/DUESSELDORF (Reuters) - Siemens Gamesa and Siemens Energy are developing a commercial offshore wind turbine that produces hydrogen via electrolysis, the companies said, marking a breakthrough for the mass production of renewable hydrogen.Hoping to get ahead of main rivals Vestas and General Electric (NYSE: GE ), Siemens Energy and Siemens Gamesa are targeting large industrial players, including steelmakers, refineries and chemical firms, as customers from the mid 2020s."It's really about developing a commercially viable product," said Christian Bruch, chief executive of Siemens Energy, which owns 67% of Siemens Gamesa, the world's largest offshore wind turbine maker." Siemens Energy was spun off from parent Siemens last year.

"What's charming about our cooperation is that it's about developing a product," Siemens Energy's Bruch said.The plans by Siemens Energy and Siemens Gamesa are supported by the German government, which has earmarked 9 billion euros to kickstart a national hydrogen industry, with the aim of becoming a global leader in the field.

Read full story at investing.com