In October 2019, gas manufacturer Linde acquired a stake in British electrolyser manufacturer ITM Power. Linde AG acquired a total of 95 million new ITM shares for EUR 45 million. The former German industrial group, which relocated its headquarters to Guildford in the UK after the merger with Praxair, now owns 20 percent of the Sheffield-based plant engineering company. In addition to this participation, there will soon also be a 50-50 joint venture that will provide green hydrogen for industrial projects.
Although hydrogen produced from renewable energies has been under discussion for decades as a possible alternative to fossil fuels, it has so far only played a minor role. Recently, however, there have been signs of change, so that “green” hydrogen could gain momentum in the energy sector: More and more powerful electrolysis systems are available, and the prices for these systems are falling. If, however, PEM electrolysers were to be added on a large scale, iridium could become scarce and thus more expensive and thus stand in the way of a reduction in the already considerable investment costs.