COMPANY PROFILE / HYDROGEN ENERGY
Siemens Energy
A large energy-equipment maker that builds both PEM electrolyzers and hydrogen-capable gas turbines, though hydrogen is a small part of its business and little is disclosed
Siemens Energy features in hydrogen because it mass-produces proton exchange membrane (PEM) electrolyzer stacks in Berlin, and the same company also makes gas turbines that can burn hydrogen. In November 2023 it opened, with Air Liquide, an electrolyzer factory with an annual capacity of 1 GW. Yet the only line in its annual report for the year to September 2025 that points to this business is a unit called "Sustainable Energy Systems" (SES), which also covers other activities: orders of €452 million, revenue of €242 million (about 0.6% of the group's €39.1 billion) and a profit margin of -21.9%. This profile covers hydrogen only, not the whole company, and sets out from primary sources what it has committed, with whom it works and what it does not disclose.
- Siemens Energy in 30 seconds, and where it stands in hydrogen energy
- The logo and how the name is written
- Where the company sits in the field
- Scale
- Resources committed to hydrogen energy
- What it has done so far
- What comes next
- What the company is aiming for in hydrogen energy
- Map of partnerships in hydrogen energy
- Technologies, products and services
- The risks this company carries
- Glossary, references and claim-to-source audit
1. Siemens Energy in 30 seconds, and where it stands in hydrogen energy
(Xetra)Prime Standard; member of indices including the DAX 40
Hydrogen-capable gas turbines (secondary)PEM method (Elyzer P-300)
Siemens Energy is a general energy-equipment maker of about 100,000 people, covering power generation, grids, gas turbines and wind, and hydrogen is only one part of it Sourced. The unit the annual report shows separately and that includes electrolyzers is "Sustainable Energy Systems (SES)". Its revenue for the year to September 2025 was €242 million, or about 0.6% of group revenue Our calculation. The annual report does not define what SES covers (electrolyzers alone, or other businesses as well), so this is not an electrolyzer-only figure. Orders, revenue and profit for electrolyzers are not disclosed, and this article does not estimate them Not yet confirmed. On the other hand, the product specifications, the Berlin factory and a list of reference projects are all concretely documented in the company's own materials.
2. The logo and how the name is written
A note on names: the legal entity is Siemens Energy AG. It is a separate legal entity from Siemens AG; according to the annual report, Siemens AG indirectly holds more than 10% of the voting rights. The electrolyzer product name is Elyzer. The wind business Siemens Gamesa is a group company, but this profile does not cover it. The logo is the white version used on the company's official website, shown on a dark background.
Official site: https://www.siemens-energy.com/global/en/home.html3. Where the company sits in the field
4. Scale
The annual report divides the company into four business areas: Gas Services, Grid Technologies, Transformation of Industry and Siemens Gamesa. Electrolyzers are stated to be part of the product range of Transformation of Industry (TI) Sourced.
| Indicator (€ million) | Year to Sept 2024 | Year to Sept 2025 |
|---|---|---|
| Orders (group) | 50,226 | 58,928 |
| Revenue (group) | 34,465 | 39,077 |
| Profit before special items (group) | n/a | 2,355 (margin 6.0%) |
| R&D expenses (group) | 1,209 | 1,210 |
| Transformation of Industry: orders / revenue | 6,413 / 5,109 | 6,003 / 5,723 |
| Transformation of Industry: profit margin before special items | 7.4% | 11.3% |
| Within it, Sustainable Energy Systems (SES): orders / revenue | 422 / 145 | 452 / 242 |
| SES: profit margin before special items | -64.0% | -21.9% |
Employees number 102,985 (30 September 2025), with an average of about 4,100 people in R&D.
The SES figures are not necessarily electrolyzer-only. The annual report lists four units within TI (Compression; Industrial Steam Turbines & Generators; Electrification, Automation, Digitalization; and SES) without explaining the scope of SES. Orders, revenue, profit and shipments for electrolyzers are not shown separately anywhere. For SES the report says only that it "again sharply reduced its negative profit", and the fiscal 2026 half-year report attributes TI's revenue growth mainly to the new-units business at SES. This article does not estimate the size of the hydrogen business Not yet confirmed.
5. Resources committed to hydrogen energy
| Resource | What primary sources confirm | Category |
|---|---|---|
| People | The hydrogen headcount is not disclosed. The group has 102,985 employees and about 4,100 in R&D. The electrolyzer fact sheet says "over 11,000 service employees worldwide", which is not an electrolyzer-only figure | Not disclosed |
| Money (R&D and capital expenditure) | Group R&D spending was €1,210 million; the hydrogen share is not disclosed. The new electrolyzer lines in Berlin (2,000 m²) cost about €30 million (announced March 2022, repeated in November 2023) | Sourced / hydrogen share not disclosed |
| Investments and partnerships | A joint venture with Air Liquide (announced June 2022: Siemens Energy 74.9%, Air Liquide 25.1%, subject at the time to approval by the competent authorities). The JV runs the Berlin stack factory, which supplies both parents. Mission H2 Power with SSE Thermal on gas turbine technology for 100% hydrogen. Acquisitions or divestments in hydrogen: none confirmed | Sourced / none confirmed |
| Public funding and research bodies | Research on the Berlin production facility was supported by Germany's Federal Ministry of Research under the SEGIWA project, part of H2Giga (November 2023 release). The annual report says the JV "enabled" it to apply for European-level funding (the outcome is not stated). No named university collaborations could be confirmed | Sourced / none confirmed |
Status of main projects (company brochure)
The list below shows the projects in the "project experience" map of the company's electrolyzer brochure, with the status label the company gave them. The brochure carries no date, so the current situation may have changed Not yet confirmed.
| Project | Location | Scale | Brochure label | Notes |
|---|---|---|---|---|
| Air Liquide Normand’Hy | Port-Jérôme, France | 200 MW (12 arrays of Elyzer P-300) | In execution | Supply announced September 2023; Siemens Energy states output of 28,000 tonnes a year from 2026. Air Liquide's website says commissioning is planned for 2026. We could not confirm that it is operating |
| Kassø (e-methanol) | Denmark | 52 MW (3 arrays) | Operational | Customer is a company owned by European Energy. The brochure says up to 6,000 tonnes of hydrogen a year and potentially up to 42,000 tonnes of e-methanol |
| Hy4Chem-EI Ludwigshafen | Germany | 54 MW | Operational | None |
| WUNH2 Wunsiedel | Germany | 8.5 MW | Operational | None |
| H2Future Linz | Austria | 6 MW | Operational | None |
| Trailblazer Oberhausen | Germany | Up to 20 MW | Operational | Named as an Air Liquide project in the November 2023 release |
| Haru Oni | Chile | No size given | Operational (for e-fuel) | None |
| Green H₂ Coastline | Germany | 280 MW | In execution | None |
| OMV Vienna | Austria | 140 MW | In execution | None |
| Hamburg Green Hydrogen Hub | Germany | 100 MW | In execution | None |
| Air Liquide ELYgator | Netherlands | Up to 200 MW | In execution | None |
| Sakura H₂ | Japan | 17.5 MW | In execution | None |
The company's brochure says the Elyzer P-300 stack is "optimized for 80k EOH (equivalent operating hours), operation beyond 80k EOH possible" and lists as services stack exchange, stack exchange at a fixed price and a pool of spare stacks Sourced (all manufacturer's stated values). In other words, the company treats the stack as a replaceable part with a finite life, and builds its price and replacement into the contract. PEM electrolyzer stacks are in general made of a polymer electrolyte membrane, an iridium-based anode catalyst, a platinum-based cathode catalyst, and porous transport layers and bipolar plates of titanium and similar materials, and degradation of these is what sets stack life (see our explainers on PEM water electrolysis, electrolyzer stacks and materials, and platinum group metals and catalysts). Siemens Energy's own material choices (membrane type, catalyst loading, plate coatings) are not stated in the official materials we checked Not yet confirmed.
6. What it has done so far
| When | What happened | Why it matters |
|---|---|---|
| 31 March 2022 | Announced that it would set up electrolyzer production lines (2,000 m², about €30 million) at its Huttenstrasse site in Berlin, with production planned to start in 2023, using the existing infrastructure of the gas turbine plant | A statement that it had chosen PEM and was moving to series production. The same release said its gas turbines can run on up to 50% hydrogen and that full hydrogen operation should be possible by 2030 |
| 23 June 2022 | Announced a joint venture with Air Liquide (Siemens Energy 74.9%, Air Liquide 25.1%, subject to approval). Production to begin in the second half of 2023 and ramp up to 3 GW a year by 2025 | Shares the risk of series production. Air Liquide is also a customer |
| September 2023 | Announced the supply of 12 electrolyzers totalling 200 MW for Air Liquide's Normand’Hy | One of the first large projects from the JV |
| November 2023 | Opened the Berlin electrolyzer factory. Starts at 1 GW a year, with a plan to reach at least 3 GW by 2025. SEGIWA supported the research | Start of series production. The CEO said a business model with a balanced risk and reward profile still had to be agreed |
| 2024-2025 | The brochure labels Kassø (52 MW, e-methanol) and others "operational". The annual report describes "Mission H2 Power" with SSE Thermal (Keadby 2, SGT5-9000HL) | Delivery track record for electrolyzers, and joint development on hydrogen turbines |
| Year to September 2025 | The annual report discloses SES orders of €452 million, revenue of €242 million and a margin of -21.9% (prior year -64.0%). It says certain gas turbine types are approved for up to 75% hydrogen and that 100% has been demonstrated at test facilities | The only financial clue to the hydrogen business |
| 2026 (product page) | States that Berlin stack production will be ramped up "depending on market demand". The earlier reference to 3 GW by 2025 does not appear in the 2026 product page we checked | The wording on expansion moved from dated figures to "depending on demand" |
7. What comes next
All of these are company plans and targets, not things that have happened Not yet confirmed.
Electrolyzer-only orders, revenue, profit and shipments; the actual utilization and output of the Berlin factory; the current status and dates of each project in the brochure; confirmation that Normand’Hy is operating; the current shareholdings and workings of the joint venture with Air Liquide (the annual report states only that it exists); and specific orders for hydrogen-fired gas turbines. The half-year report and the third-quarter results release for fiscal 2026 also contain no electrolyzer-specific figures.
8. What the company is aiming for in hydrogen energy
We separate what the company says from what we read into it. Inference marks our own interpretation of primary sources.
| What can be read | Primary evidence | Category |
|---|---|---|
| It wants to make electrolyzers a mass-produced product through series production of stacks | The November 2023 release says it is "making electrolyzers a mass product". Stacks are made in Berlin, while assembly is done closer to project sites | Sourced (company statement) |
| It sells an integrated package, from electrolyzers to power, grid connection, compression and service | The fact sheet says "everything from one hand, from electrolyzer system to full turnkey". The Power-to-X page presents the company as the only manufacturer with its combination of power generation and grid-connection know-how (a company claim that we have not verified) | Sourced (company statement) |
| It sees an advantage in owning both the production side (electrolysis) and the use side (gas turbines) of hydrogen | The annual report describes hydrogen production and transport under TI and hydrogen-fired turbines under Gas Services; the product pages present both under one hydrogen heading | Inference |
| Growth depends on policy and returns | In 2023 the CEO said a business model with a balanced risk and reward profile was needed, and a board member asked for reliable policy support and simpler funding and permitting. The 2026 product page ties expansion to demand | Sourced (statements) / Inference (our reading) |
Our reading that growth depends on policy and returns rests on a change between two statements by the same company. Its 2022 and 2023 releases set out a plan to expand the Berlin factory to at least 3 GW a year by 2025 Sourced. The 2026 product page, as far as we checked, says only that production will be ramped up "depending on market demand", with no year or capacity Sourced. The disappearance of the numbers suggests that expansion now depends on demand building up. The company gives no reason, so this is our interpretation Not yet confirmed.
9. Map of partnerships in hydrogen energy
10. Technologies, products and services
All product figures are the manufacturer's stated values. Note that they relate to different scales (an array and a 100 MW reference plant) and that the basis of the efficiency figure is not given. They are not set against other makers' values.
| Product | What official materials say | Note |
|---|---|---|
| Elyzer P-300 (PEM electrolysis): one array | 24 stacks per array. Array power demand 17.5 MW; 335 kg of hydrogen per hour; plant efficiency above 75.5% (basis not stated); minimum load 40% of a single stack; start-up under one minute; dynamics up to 10% per second across 0-100%; about 10 L of demineralized water per kg of hydrogen; hydrogen quality up to 99.999% with a de-oxo dryer. Stacks optimized for 80k EOH | The company cites high dynamic response and gas purity as PEM strengths, and lists "TRL 9 according to European standard" |
| 100 MW reference plant (fact sheet) | Plant power about 110 MW, pressure 30 bar, about 2,000 kg of hydrogen per hour, dry gas quality 99.9999%, about 10 L/kg of demineralized water. Site of 186 m x 90 m (with thyristors) or 186 m x 96 m (with IGBTs) | The brochure (up to 99.999%) and the fact sheet (99.9999%) give different purity figures with no explanation of the conditions. We draw no comparison |
| Stack production (Berlin) | Industrial production of PEM stacks started in 2023 at a multi-gigawatt facility that supplies both Siemens Energy and Air Liquide. Production to be ramped up with market demand | The fact sheet cites "over 330,000 operating hours of electrolyzers" as company-wide experience |
| Services | Stack exchange, fixed-price stack exchange, a stack pool, maintenance, a 24/7 remote hotline and predictive analytics | Treats the stack as a part with a finite life |
| Gas turbines that burn hydrogen | Certain types approved for up to 75% hydrogen. 100% hydrogen demonstrated at pilot and test facilities. Dry low-emissions combustion of 100% green hydrogen demonstrated on the SGT-400. Development under way for 100% hydrogen on mid-sized and large frames. New gas plants should be built so they can be converted to 100% hydrogen later | See our explainer on hydrogen co-firing in gas turbines. The company itself lists hydrogen's low ignition energy and high flame speed as challenges |
| Power-to-X package | Electrolyzers, compressors, power supply and grid connection, controls, engineering and services | Aimed at e-methanol, e-ammonia and e-fuels |
On its product page the company says hydrogen has a lower ignition energy and a higher flame speed than natural gas, which poses technical challenges for combustion systems Sourced. From a materials point of view, the flame sits closer to combustor walls and steam-rich gas reaches hot sections, so thermal load, oxidation and steam-related degradation of heat-resistant alloys and thermal barrier coatings would be design issues (see our explainer on hydrogen co-firing in gas turbines) Not yet confirmed. However, the official materials we checked do not say which materials or parts Siemens Energy has actually changed. What the company shows is the approved hydrogen share (up to 75% for certain types) and the fact that 100% was achieved at test facilities.
11. The risks this company carries
| Risk | Detail | Category |
|---|---|---|
| Hydrogen is a small part of the business | SES revenue of €242 million is about 0.6% of group revenue, and its orders of €452 million are about 0.8%. The scope of SES is unknown, so this is not an electrolyzer-only figure | Our calculation |
| Profitability | SES's margin before special items was -21.9% in the year to September 2025 (prior year -64.0%). The report says it again sharply reduced its negative profit | Sourced |
| Dependence on demand and policy | In 2023 a board member asked for reliable policy support and simpler funding and permitting. The 2026 product page ties expansion to demand, and the "3 GW by 2025" figure no longer appears | Sourced (statements) / Inference (our reading) |
| Projects hard to track | The brochure's projects carry no dates, so the current status of "in execution" or "operational" is unknown. Normand’Hy is planned to be commissioned in 2026, but we could not confirm it | Not yet confirmed |
| Challenges for hydrogen turbines | The company says hydrogen needs pipeline networks and possibly underground storage. The annual report says only a small share of activities, mainly those involving hydrogen, is aligned with the EU Taxonomy | Sourced |
| Running the joint venture | Because the JV partner is also a customer, how supply, prices and volumes are set cannot be seen from outside. The annual report says nothing about the JV beyond its existence | Inference |
| Hard to verify from outside | Orders, revenue, profit and shipments for electrolyzers are not disclosed, so progress cannot be checked in the financial statements | Not yet confirmed |
12. Glossary
- PEM electrolysis
- Splitting water with a polymer electrolyte (proton exchange) membrane. It follows fluctuating power input well.
- Stack
- The central component of an electrolyzer, made of many cells stacked together; often called its heart.
- Array
- A building block of several stacks. In the Elyzer P-300, 24 stacks make one array.
- EOH
- Equivalent operating hours, a measure the company uses to express stack design life.
- SES
- Sustainable Energy Systems, one of the units within Transformation of Industry. Its scope is not defined in the annual report.
- TI
- Transformation of Industry, the industrial business area covering electrolyzers, compressors and industrial steam turbines, among others.
- H2Giga / SEGIWA
- A flagship hydrogen research programme of Germany's Federal Ministry of Research, and one of its projects, supporting series production of electrolyzers.
- e-methanol
- Methanol synthesized from renewable-electricity hydrogen and CO₂; envisaged as a shipping fuel, among other uses.
- TRL 9
- The top technology readiness level, meaning proven in actual operation.
13. References
- Siemens Energy Annual Report 2025 (fiscal year ended 30 September 2025). Business areas, revenue and orders, SES figures, R&D, employees, the joint venture with Air Liquide, gas turbine hydrogen capability and Mission H2 Power. https://assets.siemens-energy.com/dam/32b27e9a-af91-4915-8b51-b3af012d0d98/A-Siemens_Energy_Annual_Report_2025-pdf_Original%20file.pdf
- Siemens Energy Investor relations: share (listing venue, Prime Standard, indices). https://www.siemens-energy.com/global/en/home/investor-relations/share.html
- Siemens Energy Hydrogen solutions (PEM electrolyzer portfolio, the Berlin factory, the joint venture and services). https://www.siemens-energy.com/global/en/home/products-services/product-offerings/hydrogen-solutions.html
- Siemens Energy Hydrogen and Power-to-X solutions (electrolyzer brochure). Elyzer P-300 technical data, reference projects, Normand’Hy and Kassø. https://assets.siemens-energy.com/dam/973beb1b-97e0-4150-9c2e-b29800761a8c/Electrolyzer_Brochure_Hydrogen_PowertoX-pdf_Original%20file.pdf
- Siemens Energy Elyzer plant fact sheet: 100 MW electrolyzer reference plant. https://assets.siemens-energy.com/dam/ea4fa194-2ce8-4645-bdea-b35300798c29/Electrolyzer-Factsheet-Elyzer-plant-100MW-pdf_Original%20file.pdf
- Siemens Energy Siemens Energy to start production of hydrogen electrolyzers in Berlin (31 March 2022). https://assets.siemens-energy.com/dam/cbe1c4b0-a513-4f4e-8dae-b029018587f6/SE-Press-release-Electrolyzers-BLN-20220331-en-v2-pdf_Original%20file.pdf
- Siemens Energy Siemens Energy and Air Liquide form a joint venture for the European production of large scale renewable hydrogen electrolyzers (June 2022). Shareholdings and plans. https://www.siemens-energy.com/us/en/home/press-releases/siemens-energy-and-air-liquide-form-joint-venture-european-production-large-scale.html
- Siemens Energy 250,000 tons less CO2 thanks to renewable hydrogen: Siemens Energy delivers electrolyzers to Normandy (September 2023). https://www.siemens-energy.com/global/en/home/press-releases/250,000-tons-less-CO2-thanks-to-renewable-hydrogen.html
- Siemens Energy Siemens Energy and Air Liquide pave the way for the ramp-up of the hydrogen economy with new gigawatt factory for electrolyzers (November 2023). https://www.siemens-energy.com/global/en/home/press-releases/siemens-energy-and-air-liquide-pave-the-way-for-the-ramp-up-of-t.html
- Siemens Energy Sustainable fuels (gas turbine fuels: 100% hydrogen demonstration and hydrogen challenges). https://www.siemens-energy.com/global/en/home/products-services/solutions-usecase/sustainable-fuels.html
- Siemens Energy Gas turbines (hydrogen capability and the idea of building new plants for later conversion). https://www.siemens-energy.com/global/en/home/products-services/product-offerings/gas-turbines.html
- Siemens Energy Power-to-X: climate-neutral sector coupling (hydrogen uses and the Power-to-X package). https://www.siemens-energy.com/global/en/home/products-services/solutions-usecase/hydrogen.html
- Air Liquide Air Liquide Normand’Hy website (electrolyzer of at least 200 MW; commissioning planned for 2026). https://normandhy.airliquide.com/en
- Siemens Energy Half-year financial report 2026 (12 May 2026). Comments on TI orders and revenue. https://assets.siemens-energy.com/dam/03cdb4e6-b27a-4272-a911-b4480041e7ca/2026-05-12-Half-year_financial_report-2026-pdf_Original%20file.pdf
- Siemens Energy Earnings Release Q3 FY2026 (5 August 2026). Used to check whether electrolyzer-specific figures appear. https://assets.siemens-energy.com/dam/30018eed-275d-4e73-811e-b49d004cdc3d/2026-08-05-Earnings_Release_Q3_FY26_EN-pdf_Original%20file.pdf
14. Claim-to-source audit
| Claim in the article | Category | Source |
|---|---|---|
| Legal name, registration in Munich, Siemens AG's indirect holding of more than 10% of voting rights, 102,985 employees and about 4,100 in R&D | Sourced | Reference 1 https://assets.siemens-energy.com/dam/32b27e9a-af91-4915-8b51-b3af012d0d98/A-Siemens_Energy_Annual_Report_2025-pdf_Original%20file.pdf |
| Listing venue (Frankfurt, Xetra), Prime Standard and DAX 40 | Sourced | Reference 2 https://www.siemens-energy.com/global/en/home/investor-relations/share.html |
| Orders of €58,928 million, revenue of €39,077 million, profit before special items of €2,355 million (6.0%), R&D spending of €1,210 million | Sourced | Reference 1 https://assets.siemens-energy.com/dam/32b27e9a-af91-4915-8b51-b3af012d0d98/A-Siemens_Energy_Annual_Report_2025-pdf_Original%20file.pdf |
| Transformation of Industry orders, revenue and margin, and SES (orders 452, revenue 242 (€ million), margin -21.9%, prior year -64.0%) | Sourced | Reference 1 https://assets.siemens-energy.com/dam/32b27e9a-af91-4915-8b51-b3af012d0d98/A-Siemens_Energy_Annual_Report_2025-pdf_Original%20file.pdf |
| SES revenue being about 0.6% of group revenue and orders about 0.8% (SES divided by group) | Our calculation | Our own division. The scope of SES is not defined in the annual report, so this is not an electrolyzer-only figure |
| Electrolyzers being part of the TI product range, and SES's scope not being defined | Sourced | Reference 1 https://assets.siemens-energy.com/dam/32b27e9a-af91-4915-8b51-b3af012d0d98/A-Siemens_Energy_Annual_Report_2025-pdf_Original%20file.pdf |
| TI's revenue growth in the first half of fiscal 2026 being mainly due to SES's new-units business | Sourced | Reference 14 https://assets.siemens-energy.com/dam/03cdb4e6-b27a-4272-a911-b4480041e7ca/2026-05-12-Half-year_financial_report-2026-pdf_Original%20file.pdf |
| Elyzer P-300 technical data (24 stacks per array, 17.5 MW, 335 kg/h, efficiency above 75.5%, minimum load 40%, start-up under one minute, 10% per second, about 10 L/kg, 99.999%, 80k EOH) | Sourced | Reference 4 https://assets.siemens-energy.com/dam/973beb1b-97e0-4150-9c2e-b29800761a8c/Electrolyzer_Brochure_Hydrogen_PowertoX-pdf_Original%20file.pdf |
| The 100 MW reference plant (about 110 MW, 30 bar, about 2,000 kg/h, 99.9999%, site size) and over 330,000 operating hours | Sourced | Reference 5 https://assets.siemens-energy.com/dam/ea4fa194-2ce8-4645-bdea-b35300798c29/Electrolyzer-Factsheet-Elyzer-plant-100MW-pdf_Original%20file.pdf |
| Size and brochure status labels (operational, in execution) for the 12 reference projects; the brochure is undated | Sourced | Reference 4 https://assets.siemens-energy.com/dam/973beb1b-97e0-4150-9c2e-b29800761a8c/Electrolyzer_Brochure_Hydrogen_PowertoX-pdf_Original%20file.pdf |
| Normand’Hy (200 MW, 12 units, 28,000 tonnes a year from 2026) and Air Liquide's “planned to be commissioned in 2026” | Sourced | References 8 and 13 https://www.siemens-energy.com/global/en/home/press-releases/250,000-tons-less-CO2-thanks-to-renewable-hydrogen.html https://normandhy.airliquide.com/en |
| Whether Normand’Hy is operating | Not yet confirmed | Not stated in the sources we checked. https://normandhy.airliquide.com/en |
| The Berlin production lines (2,000 m², about €30 million, production from 2023) and the 2022 statement on gas turbines (up to 50% hydrogen, full hydrogen by 2030) | Sourced | Reference 6 https://assets.siemens-energy.com/dam/cbe1c4b0-a513-4f4e-8dae-b029018587f6/SE-Press-release-Electrolyzers-BLN-20220331-en-v2-pdf_Original%20file.pdf |
| The joint venture with Air Liquide (Siemens Energy 74.9%, Air Liquide 25.1%, subject to approval, production from the second half of 2023, 3 GW by 2025) | Sourced | Reference 7 https://www.siemens-energy.com/us/en/home/press-releases/siemens-energy-and-air-liquide-form-joint-venture-european-production-large-scale.html |
| The November 2023 factory opening (1 GW a year, at least 3 GW by 2025, PEM, SEGIWA support, the CEO's comment) | Sourced | Reference 9 https://www.siemens-energy.com/global/en/home/press-releases/siemens-energy-and-air-liquide-pave-the-way-for-the-ramp-up-of-t.html |
| The 2026 product page saying Berlin production will be ramped up with market demand, with no year or capacity | Sourced | Reference 3 https://www.siemens-energy.com/global/en/home/products-services/product-offerings/hydrogen-solutions.html |
| Annual report statements: European funding applications through the JV, gas turbine approval for up to 75% hydrogen and 100% demonstrated, Mission H2 Power with SSE Thermal | Sourced | Reference 1 https://assets.siemens-energy.com/dam/32b27e9a-af91-4915-8b51-b3af012d0d98/A-Siemens_Energy_Annual_Report_2025-pdf_Original%20file.pdf |
| 100% hydrogen combustion on the SGT-400, development for mid-sized and large frames, and hydrogen challenges (ignition energy, flame speed, transport infrastructure) | Sourced | References 10 and 11 https://www.siemens-energy.com/global/en/home/products-services/solutions-usecase/sustainable-fuels.html https://www.siemens-energy.com/global/en/home/products-services/product-offerings/gas-turbines.html |
| The Power-to-X package (power supply and grid connection, controls, services) | Sourced | Reference 12 https://www.siemens-energy.com/global/en/home/products-services/solutions-usecase/hydrogen.html |
| Electrolyzer-only orders, revenue, profit and shipments, Berlin utilization, and the current shareholdings and workings of the JV | Not yet confirmed | Not stated in the sources we checked; this article does not estimate them. https://assets.siemens-energy.com/dam/30018eed-275d-4e73-811e-b49d004cdc3d/2026-08-05-Earnings_Release_Q3_FY26_EN-pdf_Original%20file.pdf |
| Specific orders for hydrogen-fired gas turbines | Not yet confirmed | Not stated in the sources we checked. https://assets.siemens-energy.com/dam/32b27e9a-af91-4915-8b51-b3af012d0d98/A-Siemens_Energy_Annual_Report_2025-pdf_Original%20file.pdf |
| The classification of hydrogen companies into four types (electrolyzers primary, hydrogen-capable gas turbines secondary) | Our calculation | Our own classification. Company names are examples from this series |
| The reading that owning both the production side and the use side is seen as a strength | Inference | Our own interpretation of how the annual report and the product pages are organized |
| The reading that expansion depends on policy and returns (the change from dated figures to “depending on demand”) | Inference | Our own interpretation, comparing the 2022-2023 releases with the 2026 product page |
| The JV's workings being opaque from outside | Inference | Our own interpretation, based on the JV partner also being a customer |
| Stacks being treated as replaceable parts with a finite life | Inference | Our own interpretation of the stack exchange, fixed pricing and pool in the brochure |
Last updated October 2026 / Troy Technical
Figures in this article come from Siemens Energy's annual report, results documents, official releases, product brochure and fact sheet, and from Air Liquide's website. No research-firm market estimates have been used. Product performance values are the manufacturer's stated values, and values at different scales or conditions are not set against one another. Company plans and targets are not yet confirmed and are not things that have happened. Passages marked "Inference" are this article's interpretation of primary sources. This article is not advice on handling hydrogen.