Rolls-Royce is entering the hydrogen production market and acquiring a 54 percent majority stake in electrolysis stack specialist Hoeller Electrolyzer, whose innovative technology will form the basis of a new range of mtu electrolyzer products from its Power Systems division.
Financial details of the transaction are not being disclosed.
Hoeller Electrolyzer, based in Wismar, Germany, is an early-stage technology company that is developing highly efficient polymer electrolyte membrane (PEM) stacks, under the brand name Prometheus, for the cost-effective production of hydrogen.
Hydrogen is an increasingly attractive power source to fuel the green-energy transition, and demand for “green” hydrogen — whose production creates no carbon dioxide — is expected to rise significantly. It is needed for fuel cells and hydrogen engines, for the production of synthetic “drop-in” fuels and for industrial processes that currently use hydrogen that is not cr
