British engineering firm Rolls-Royce Holdings Plc (LON:RR) is buying a 54% interest in German electrolysis stack specialist Hoeller Electrolyzer GmbH in a deal that marks its entry into the green hydrogen production market.
The stake was sold by departing minority shareholders for an undisclosed price, Rolls-Royce said on Tuesday.
Wismar-based Hoeller Electrolyzer develops polymer electrolyte membrane (PEM) stacks, under the brand name Prometheus, for the production of hydrogen. Its acquisition by Rolls-Royce will give the British company access to a key green hydrogen production technology which will become the basis for a new range of electrolyser products.
Rolls-Royce is already working on the development of an electrolyser with a stack from Hoeller Electrolyzer and the first demonstration system is expected to be put into operation next year. The first customer project with the new electrolyser system is planned for 2024.
“We're going to launch electrolysers with several megawatts of power right from the start. A total output of over 100 megawatts is conceivable by combining several electrolysers,” said Armin Fuerderer, who heads up the Net Zero Solutions business unit of Rolls-Royce Power Systems.
Based in Friedrichshafen in southern Germany, Rolls-Royce Power Systems is focused on creating sustainable, climate-neutral solutions for drive, propulsion and power generation.
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