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The logo of the industrial group Bosch can be seen at the headquarters in Gerlingen. German technology giant Bosch is looking to invest over €1 billion ($1.1 billion) by 2030 in the expansion of its development and production network for heat pumps across Europe, the company announced on Wednesday. Bernd Weißbrod/Deutsche Presse-Agentur GmbH/dpa
German technology giant Bosch is looking to invest over €1 billion ($1.1 billion) by 2030 in the expansion of its development and production network for heat pumps across Europe, the company announced on Wednesday.
Around €255 million alone is to flow into the construction of a new heat pump factory in Dobromierz, Poland, the Stuttgart-based company said.
Construction work in the village, some 70 kilometres west of Wrocław, is scheduled to begin in 2024 and production is planned to begin by 2026.
According to Bosch, some 500 new jobs are to be created at the plant by 2027.
At the same time, the tech giant is looking to boost its existing heat-pump facilities across Europe.
In the small western German town of Eibelshausen, for example, production of components for heat pumps kicked off at the beginning of this year, the company said.
Besides another German plant, Bosch also develops or produces heat pumps in Portugal and Sweden, among other European locations.
Heat pumps draw heat from the environment, meaning the air or the ground, and use it to heat buildings. If sustainably generated electricity is used to power them, the provided heating comes without any carbon dioxide (CO2) emissions.
In Germany, the government has set a target of 500,000 newly installed heat pumps per year from 2024.
Heat pumps are a growth driver for Bosch’s building technology division, the Bosch Home Comfort Group. Formerly known as Bosch Thermotechnology, the division recently posted record sales.
Compared to the previous year, revenues rose by 13% to €4.5 billion in 2022.
That year, the heat pump business in Germany grew by 75%, compared to a worldwide increase of 54%.