Peter Terwiesch

Peter Terwiesch is President Process Automation and member of the Group Executive Committee of ABB since January 2015. He joined ABB in 1994 and, among other roles, was head of ABB’s Central Europe region from 2011 to 2014 and ABB’s Chief Technology Officer from 2005 to 2011.

Peter Terwiesch currently serves on the Board of Directors of Hilti Group. From 2006 to 2012, he served as a member of BP plc’s Technology Advisory Council, and from 2010 to 2022 he served on the Board of Directors of Metall Zug AG. In 2013, he was nominated as Fellow by IFAC, the International Federation of Automatic Control.

He studied electrical engineering in Karlsruhe (Germany) and Strasbourg (France), holds a PhD from ETH Zurich (Switzerland), and is an alumnus of Harvard Business School‘s General Manager Program (US). He was born in 1966 and is a Swiss and German citizen.

Session Overview

Tuesday, 5 November

16:30

Leadership Roundtables 16:30 - 18:00

Hydrogen: scaling up production and creating demand

Realising the potential for hydrogen could yield substantial advantages for the energy sector, the environment, and businesses worldwide. It is estimated that incorporating hydrogen into the global energy system could prevent 6 gigatons of CO2 emissions, generate a $2.5 trillion market for fuel cell technologies, and create sustainable jobs for more than 30 million individuals. To establish hydrogen as a crucial component in the energy transition, significant scaling over the next decade is essential. Policymakers and business leaders should focus on creating demand, developing infrastructure, and scaling up production. According to a survey conducted by BCG, offtake and merchant risks are the highest concern for banks when considering backing hydrogen and CCUS projects.

Reducing costs and addressing risks related to offtake, regulations, water security, and project bankability are key factors that must be tackled to accelerate hydrogen's role in the energy transition. Moreover, with electrolysers produced in China being 75% cheaper than their Western counterparts, it is essential to develop a coordinated global approach to balance cost disparities. Understanding and fostering international cooperation is critical to enabling large-scale hydrogen production and distribution.

Attendee insights:
Explore the critical actions required to scale hydrogen, including creating demand and understanding how early investments are essential for building large-scale infrastructure for distribution and expanding production.