“Bosch is already hydrogen-ready” said Dr. Volkmar Denner, Bosch CEO, evidently proud of their commitment to invest €1bn over the next 3 years into fuel cell technology, a rapidly emerging part of the EU hydrogen market.
It was at Bosch’s annual press conference that Denner detailed the hydrogen investment, going on to declare that by 2030 the market for green hydrogen in the EU will be worth €40bn with annual growth rates of 65%.
These are conservative numbers when put alongside other hydrogen advocates forecasts, but regardless the market growth is certainly happening.
Denner also estimated that the mobile fuel cell components market could be worth €18bn by the end of the decade.
Bosch intend to supply electricity to residential areas, data centres and industrial manufacturers, by putting 100 stationary fuel cell plants into operation this year.
Denner says Bosch is ready to lead this growing market, “We have what it takes to be a leader in this market as well.”
Denner also commented on Bosch’s joint venture with China’s Qingling Motor Group with both companies producing fuel cell power trains for a test fleet of 70 trucks, aiming to be operational as soon as the end of 2021.
Bosch are already viewed as a benchmark investor in hydrogen. Amongst recent successes is one in Germany, the recently operational Bamberg fuel cell plant, just one example pointing the way for increased growth in an increasingly lucrative EU hydrogen market.