The steel wire transformation and coating technologies firm said it intended to “temporarily” stop making electrolyser components at its Bekintex site in Wetteren, in a move that is expected to have a “direct impact” on 24 jobs.

The company makes porous transport layers (PTLs) for PEM and AEM systems which distribute electrical current and fluid across the surface of electrolyser membranes.

It’s unclear just how many electrolyser OEMs the company supplies due to the confidentiality surrounding such contracts. However, in 2024, it licensed its Membrane Electrode Assembly technology to Toshiba.

“With a low market demand in the short-term and an upturn expected later than previously foreseen, Bekaert must adjust its activities in green hydrogen to the economic reality,” a company statement said.

It insisted that green hydrogen “remains” part of its growth strategy and said it would “retain” the facility and machinery already installed at the Bekintex site.

Its innovation hub in Deerlijk will also remain open.

Bekaert’s announcement follows a series of restructures, bankruptcies, and acquisitions in the electrolyser space, characterised by slower-than-expected demand.

Hydrogen Europe estimates the EU already hosts 12GW electrolyser manufacturing capacity. Yet annual deployment is expected to remain below 5GW through the end of the decade, only climbing slightly to around 6GW in 2030.

Manufacturers argue they scaled to the targets set by policymakers, who have failed to create market rules able to stimulate demand.