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Siemens Energy: creates joint venture with Air Liquide

( - Air Liquide and Siemens Energy have announced the creation of a joint venture, in which they will have respective stakes of 25.
1% and 74.9%, which is dedicated to the mass production of industrial-scale renewable hydrogen electrolysers in Europe.

The joint venture's headquarters and its electrolysis module production plant will be located in Berlin. Production is set to start in H2 2023, with a ramp-up to three gigawatts of annual capacity by 2025.

The joint venture, still requires regulatory approval, will provide both groups with modules to meet the needs of their respective customer portfolios and to serve a growing market.

In addition, under the partnership, Air Liquide and Siemens Energy have agreed to allocate specific R&D resources to support the joint development of the next generation of electrolyser technologies.

No big deal for the market though - both shares are down over 2% this morning, underperforming their respective markets.

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