The automotive supplier Bosch is geared to hydrogen as an emerging future technology on several levels. Bosch is not only targeting use in long-distance trucks and cars. The fuel cell also has several advantages in stationary applications. That is why Bosch recently increased its stake in the fuel cell developer Ceres Power from 3.9 percent to around 18 percent. To increase its stake, Bosch is subscribing to new Ceres Power shares and acquiring further shares from existing shareholders. Bosch is investing a total of around 90 million euros. In order to underpin the strategic investment and strengthen the partnership, Bosch will be given the right to appoint a member to the Ceres Power Supervisory Board as part of the transaction.
Since the signing of a strategic agreement in August 2018, Bosch has successfully collaborated with Ceres Power in the development of fuel cell stacks for stationary applications. This enabled Bosch to start small series production of the first fuel cell systems in Germany in autumn 2019. The increase in the share is intended to strengthen the cooperation with regard to a possible industrial large-scale production of Ceres SteelCell for a variety of applications. For example, the technology will be used in the form of small, decentralized power plants in cities, factories, data centers and also in the operation of charging stations for electric cars.
“For Bosch, the highly efficient solid oxide fuel cell (SOFC) is an important contribution to the security of supply and flexibility of energy systems. Together with our development partner Ceres Power, Bosch has made great strides in the development of fuel cell stacks for stationary applications. With this further investment in Ceres Power, we want to expand our successful cooperation. “- Dr. Christian Fischer, member of the Bosch executive board, responsible for the Energy and Building Technology division
Ceres Power is a leading player in the development of next generation solid oxide fuel cell (SOFC) technology. Strategically, the company wants to industrialize the technology through licensed volume production with partners and use it for networked and decentralized energy generation. The board of Ceres Power is convinced that the expansion of the application area of Ceres Power’s technology through the strengthened cooperation with Bosch means a significant increase in value for shareholders in the future. Both sides see the transaction as a clear commitment to their partnership.
“We welcome the renewed investment by Bosch in the further development of our technology, especially since we want to play an increasingly important role in containing climate change and building a sustainable energy system for the future. By combining the unique SteelCell technology from Ceres Power with Bosch’s expertise in technology, manufacturing and supply chain management, we have created a successful partnership. The renewed investment enables us to continue the momentum of the past few years in order to further industrialize the business and expand it to new applications. ”- Phil Caldwell, CEO of Ceres Power
The world’s largest automotive supplier is also increasingly relying on the fuel cell for mobile applications, for use in a wide variety of electric vehicles. At a press event, Bosch showed a new fuel cell for trucks that takes up little more space than a common diesel engine. The system’s hydrogen tanks are fully refueled in a few minutes and allow a range of up to 700 kilometers. To save time, Bosch purchased the stack, as the heart of the drive is called, from Powercell Sweden and integrated it into its overall system. A single stack is sufficient for use in cars, and a double pack provides enough power for trucks.
“We expect the fuel cell 2030 to have a market share of 13 percent for heavy commercial vehicles“Project manager Jürgen Gerhardt said according to media reports at the press appointment. A fuel cell drive currently costs more than three times the price of a diesel engine. However, these costs decrease with the steadily increasing number of pieces. The first customer for the Bosch system is the US start-up Nikola, which plans to start delivering hydrogen trucks in 2022.
The use of fuel cells is particularly useful for heavy commercial vehicles because the battery for a purely battery-electric drive with a range similar to that of a hydrogen drive would have to weigh several tons, at the expense of a significantly reduced payload. The problem of higher costs will be resolved in a few years, says Gerhardt. He expects the cost of a fuel cell car to be comparable to that of an electric car by 2025 at the latest.
1.2 billion euros for alternative drives
“We prepared for the change at an early stage and we have a large portfolio of solutions, from combustion engines and electromobility to fuel cells and mobility concepts“Bosch boss Volkmar Denner says about the wide range of drives that the supplier has on offer. Fuel solutions are also under development for the passenger car sector.
Bosch is also researching e-fuels that can be produced in a climate-neutral manner with the help of renewable energies as well as hydrogen and CO2 and have the same basic properties as gasoline and diesel. “The main advantage is that these fuels can also be used to fuel the existing vehicle fleet“Says Denner.
Bosch plans to increase investments in electric mobility from 400 to 500 million euros annually this year and is planning a total of 1.2 billion euros for alternative drives, automated driving and mobility solutions.
Source: Bosch – press release dated January 22, 2020 // Handelsblatt – Fuel cells have long been no competition to the battery – until now // Automobilwoche – Series production should start in 2022: That’s why Bosch believes in fuel cells
