Sector News

Linde takes a 10% stake in Swiss hydrogen group

August 30, 2019
Chemical Value Chain

Linde, the world’s biggest industrial gases group, has taken a 10% stake in Hydrospider AG, a Swiss producer and supplier of hydrogen derived from renewable energy sources, Hydrospider said on Thursday.

Hydrospider is currently building a plant to turn electricity from a hydroelectric station run by Swiss utility Alpiq into hydrogen for trucks to be built by a joint venture of Hyundai Motors and Swiss group H2 Energy.

Alpiq and H2 Energy each own 45% in Hydrospider, whose site will start commercial operations by the end of the year.

“The participation offers Linde the opportunity to actively shape one of the most attractive endeavors for green hydrogen and emission-free mobility in Europe,” Jens Waldeck, head of central Europe at Linde’s Gases division, said in a statement.

The hydrogen to be produced by Hydrospider will power the first 50 of a total 1,600 trucks Hyundai and H2 Energy plan to bring to Swiss roads by 2025.

The move comes amid ongoing efforts by some carmakers, including Hyundai, Toyota, Honda Motor and Daimler to promote hydrogen fuel cells, which have been hampered by the technology’s high price and lack of refueling infrastructure.

Toyota, which views hydrogen fuel cells as the preferred alternative to electric vehicle batteries, last month said it would supply hydrogen fuel cell parts to Chinese rivals FAW and Higer Bus.

Volkswagen on Thursday confirmed that as a large volume manufacturer it was banking on battery-powered electric cars, adding fuel-cells would only be used in niche areas like trucks and buses and over long distances.

By Christoph Steitz

Source: Reuters

comments closed

Related News

January 22, 2023

Ineos to Acquire MBCC’s Admixtures Business

Chemical Value Chain

Ineos Enterprises has signed an agreement to buy MBCC Group’s admixture business from Sika. The deal is required by European antitrust regulators to approve Sika’s purchase of the MBCC Group, formerly BASF Construction Chemicals. The transaction is scheduled to complete in the first half of this year, subject to regulatory approvals.

January 22, 2023

Carbios and Novozymes strengthen partnership for PET bio-recycling

Chemical Value Chain

Carbios and Novozymes are entering an exclusive long-term global strategic partnership to ensure the production and supply of Carbios’ proprietary PET-degrading enzymes at an industrial scale. Together the companies will build the world’s first biological PET-recycling plant due to start production in 2025 in Longlaville, France, as well as Carbios’ future licensee customers.

January 22, 2023

Borealis adds crosslinked PE to circular portfolio

Chemical Value Chain

Pyrolysis process keeps difficult-to-recycle crosslinked polyethylene like XLPE and PE-X in the circular loop. Chemically recycled grades in the Borcycle™ C portfolio are ISCC PLUS certified according to the mass balance methodology. EverMinds™ approach provides innovative and viable solutions to recycling challenges in the Wire & Cable and Infrastructure industries.

How can we help you?

We're easy to reach