Siemens Energy sees $1.1 billion in sales from electrolyser business mid-term

Siemens Energy sees $1.1 billion in sales from electrolyser business mid-term

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Miniatures of windmill, solar panel and electric pole are seen in front of Siemens Energy logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing Rights

BERLIN, Nov 8 (Reuters) – Siemens Energy (ENR1n.DE) expects more than 1 billion euros ($1.1 billion) in revenues mid-term from its hydrogen electrolyser manufacturing business, one of the company’s board members said on Wednesday.

Anne-Laure de Chammard spoke to journalists on the sidelines of the opening of Siemens Energy’s first electrolyser factory in Berlin, a joint venture with France’s Air Liquide (AIRP.PA).

De Chammard said hydrogen players needed government guarantees and support for future ramp up of hydrogen production as classic financing through banks for projects of the new technology has been challenging.

($1 = 0.9369 euros)

Reporting by Riham Alkousaa and Christina Amann; Editing by Christoph Steitz

Our Standards: The Thomson Reuters Trust Principles.

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