Air Liquide, Siemens Energy Join Forces For Hydrogen Partnership In Europe




  • In Business
  • 2021-02-08 12:51:56Z
  • By SmarterAnalyst

Air Liquide and Siemens Energy are joining forces for the development of hydrogen and electrolyzer technologies in Europe.

Financial terms of the cooperation weren't disclosed. As part of the partnership, Air Liquide (0NWF) and Siemens Energy will combine their expertise in PEM (Proton Exchange Membrane) electrolysis technology.

The two companies will focus on large industrial-scale hydrogen projects to lay the ground for mass manufacturing of electrolyzers in Europe, especially in Germany and France. In addition, they will target R&D activities to co-develop next generation electrolyzer technologies.

Hydrogen is slated to play an important role in attaining the European Union's objectives for CO2 and greenhouse gas emission reduction. Accelerated production of hydrogen via large-scale PEM electrolysers is sought to help lower costs and meet the rapidly growing demand for climate change, the companies said in a joint statement.

"Hydrogen is a key enabler of the energy transition. In the context of an unprecedented acceleration in Europe of hydrogen technologies and markets, the time to scale-up is now, notably in France and Germany," Air Liquide CEO Benoît Potier said. "The partnership between Air Liquide and Siemens Energy paves the way for the creation of a leading European ecosystem capable of supplying decarbonised hydrogen at competitive prices and promoting the emergence of a low-carbon society."

Furthermore, Air Liquide and Siemens Energy plan to apply for large EU projects for hydrogen, funded by the French and German governments. The French government is expected to invest €7 billion in hydrogen until 2030 to render its economy more competitive and more decarbonized. (See Air Liquide stock analysis on TipRanks)

Earlier this month, Barclays analyst Alex Stewart cut Air Liquide's price target to €154 from €155 but reiterated a Buy rating.

The rest of the Street is cautiously optimistic about the stock. The Moderate Buy consensus rating is backed by 7 Buy ratings versus 5 Hold ratings. The average analyst price target stands at €147.67 and implies 8.4% upside potential to current levels.

 

Related News:
Hyundai-Kia Say Apple Talks On EV Tie-Up Are Off The Table
Ford Says US Closes Emissions Certification Probe; Street Sticks To Hold
Shoe Carnival's 4Q Profit Outlook Tops Estimates; Shares Gain 5%

More recent articles from Smarter Analyst:

  • Ford Says US Closes Emissions Certification Probe; Street Sticks To Hold

  • Elbit Systems Awarded $128M Worth Of Contracts To Supply Equipment

  • Dialog Semiconductor In $6B Takeover Talks By Renesas Electronics

  • US States Urge FCC To Review Verizon's $6.3B Deal To Buy TracFone - Report

COMMENTS

More Related News

Sources: Lightspeed is close to hiring a new London-based partner to put down further roots in Europe
Sources: Lightspeed is close to hiring a new London-based partner to put down further roots in Europe

Lightspeed Venture Partners, the well-known Silicon Valley venture capital firm that has backed the likes of DoubleClick and Snapchat, is in the midst of hiring a second London-based investment partner as it looks to put down further roots in Europe, TechCrunch has learned. According to multiple sources, Paul Murphy, whose investments include Tier, Hopin, Klang and Bunch, is being hired away from Northzone, the European VC firm that's probably best known for being an early backer of Spotify.

China
China's rare earth dominance casts shadow over Europe's ambitious climate targets

As the European Union looks to hit ambitious climate targets, policymakers are getting more vocal about a potential fork in the road: China. In a speech...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Business