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2G Energy AG Receives Order from Siemens for a Hydrogen CHP

By July 22, 2019

July 22, 2019

  • Hydrogen CHP to form part of a pilot project in Dubai
  • Management Board expects 2019 net sales to be in the upper range of EUR 210 – 230 million

Heek — 2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading manufacturers of gas-driven combined heat and power (CHP) systems for decentralized energy supply, has received an order to deliver a hydrogen-driven CHP system to Siemens AG.

The 2G agenitor 412 forms part of a project on the Arabian Peninsula to produce hydrogen utilizing a solar powered electrolysis plant manufactured by Siemens.

The green hydrogen is then to be harnessed for emission-free re-generation with the 2G CHP unit. The solar power will be generated in one of the world’s largest solar parks, which will be expanded to a capacity of 800 megawatts by mid-2020. This is a pilot project to test how the produced gas can be stored and converted back into electricity, or how it can be utilized for transportation purposes or other industrial applications. 2G is expected to deliver and install the hydrogen CHP by the end of the year.

Siemens also supplied the electrolyzer for the hydrogen CHP project for Stadtwerke Hassfurt. The cooperation in Dubai is now a further sign of confidence in 2G’s hydrogen technology and confirms 2G’s continuing leading role in research and development in the cogeneration area.

At the beginning of July, 2G received a further order for a hydrogen-powered CHP plant in Germany, and initial enquiries have already been received from abroad. “We identify keen and broad interest in our hydrogen expertise and are consequently optimistic that we will further expand our technological leadership,” comments Christian Grotholt, CEO and founder of 2G Energy AG.

Net sales forecast for 2019 specified
Against the background of the continuing high order backlog and the constantly growing service business, the Management Board is specifying its sales forecast and expects to reach the upper end of the communicated range of EUR 210 – 230 million.