Engine manufacturer MAN Energy Solutions will in the coming years invest up to EUR 500m in subsidiary H-Tec Systems, which will produce green hydrogen at scale via so-called PEM electrolysis.
German-owned engine manufacturer MAN Energy Solutions dials up on investments in polymer electrolyte membrane (PEM) electrolysis, which can be used to produce green hydrogen.
Over the next few years, MAN is going to invest up to EUR 500m in subsidiary H-Tec Systems, which is able to make green hydrogen through electrolyzers.
”Our plan is clear. We are transforming H-TEC SYSTEMS into one of the world’s leading players in the field of PEM electrolysis. Over the next five to ten years, green hydrogen will become one of the most important primary energy sources for the global economy as it continues to decarbonize,” says MAN Chief Executive Uwe Lauber in a statement.
The engine maker, which competes with companies like Finland-based Wärtsilä on supplying engines to shipping, estimates that H-Tec Systems is capable of producing sustainable energy-based hydrogen on an industrial scale.
The technology is mature and has already been tested successfully on the market, MAN points out.
”The next step is therefore to scale and set up highly automated serial production,” says Lauber.
In relation to the new growth strategy and investments, MAN is making adjustments to its subsidiary. Robin von Pletterberg, the former head of Turbomachinery Service Business at MAN, will be new chief executive of H-Tec Systems.
MAN Energy Solutions is owned by the German VW group and employs roughly 14,000 personnel globally.
