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Some of the key elements of the Bloom Energy news for me is:
"The solution will provide power with 34% lower CO2 emissions than today’s displaced marginal generation resources in PJM Interconnection. When running on natural gas, the solution also virtually eliminates SOx and NOx emissions Bloom’s fuel cells can run on 100% hydrogen or any blend thereof with natural gas, providing flexibility to continue lowering its carbon footprint in the future.".
Is that your summary of the Press release? You were asking earlier why anyone would blend H2 into a NatGas supply...there's part of your answer....in the Bloom news release
d-1 - Bloom won a Major Deal with AEP using NATURAL GAS.
PLUG and 3 others is the only Red on my H2 watchlist...wonder what's up
FCEL news was just out this morning....up 24% at the open....why so down onit?
d-1 - Thanks. FYI : FCEL just hit NEW ALL TIME LOWS.
I don't think the Press Release impressed anyone.
NEWS::Nasdaq: FCEL FuelCell Energy Announces Global Restructuring, Focusing Core Technologies On Distributed Power Generation, Grid Resiliency, And Data Center Growth
Go-forward strategy will emphasize topline revenue growth and future profitability.
Company to reduce total operating costs by an estimated 15% in fiscal year 2025.
DANBURY, Conn., Nov. 15, 2024 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) announced a global restructuring of its operations in the U.S., Canada, and Germany that aims to significantly reduce operating costs, realign resources toward advancing the company’s core technologies, and protect the company’s competitive position amid slower-than-expected investments in clean energy.
The restructuring will allow FuelCell Energy to prioritize commercially available technologies to reflect changing market opportunities with an updated strategic plan. The plan involves further expanding the company’s Connecticut-manufactured molten carbonate technology to offer distributed power solutions. These solutions can deliver power swiftly, accelerate customer revenue, address critical grid deficiencies, and meet the increasing power demand driven by the rapid AI-fueled growth of data centers.
FuelCell Energy will also continue to pursue strategies for CO 2 recovery for food and beverage and industrial uses along with its differentiated joint carbon capture platform development, including demonstrating carbon capture technology at the Port of Rotterdam.
Additionally, the company remains confident in the market potential for its solid oxide technology to deliver both electrolysis and power generation and continues to refine its differentiated product offerings. As part of its strategic realignment, the company will seek to develop additional partnerships that can meet market demand for multi-megawatt electrolyzer implementations. The company believes that the demonstration of its solid oxide electrolyzer at Idaho National Laboratory in 2025 will be pivotal to enabling that progress.
As a result of these changes, FuelCell Energy expects to reduce operating costs by approximately 15% in fiscal year 2025, compared with fiscal year 2024. These measures include a 17% reduction in FuelCell Energy’s workforce (including workforce reduction actions taken in September 2024), as well as reduced spending on product development, overhead and other costs.
This announcement by FuelCell Energy follows similar actions by other companies in the industry amid uncertainty about government policies to incentivize long-term, capital-intensive projects that are critical to the success of the clean energy transition.
"We have always known that the energy transition would not be linear, and we have built a portfolio of products and applications that allow FuelCell Energy to pivot when necessary," said FuelCell Energy President and CEO Jason Few. "The steps announced today enable us to navigate the current market while maintaining the flexibility to capture tailwinds. These tailwinds are strengthened by power shortages in grids, high voltage transmission needs, and delays in centralized power projects due to lengthy permitting processes, which our distributed energy platforms do not experience. Additional power demand opportunities are driven by data centers, AI, cryptocurrency growth, more resilient and reliable grids, and carbon recovery and capture."
The restructuring plan will not impact the way the company supports existing customers, and FuelCell Energy will continue to deliver replacement fuel cell modules and its service and monitoring contracts as before.
The workforce reduction does not impact FuelCell Energy’s carbonate manufacturing capabilities at its Torrington, Connecticut, facility. In fact, for fiscal year 2025 the company expects to operate at a manufacturing run-rate at or above the fiscal year 2024 level. Additionally, consistent with FuelCell Energy’s re-entry into the South Korean market, the company expects to add resources necessary to support its growing Korean customer base.
FuelCell Energy expects to book non-recurring accounting charges in the fourth quarter of fiscal year 2024 and the first quarter of fiscal year 2025 as a result of the workforce reductions. The Company has not completed its audit for the fourth quarter of fiscal year 2024, but expects to report total cash and cash equivalents, restricted cash and cash equivalents, and short-term investments in excess of $300 million as of its fiscal year end October 31, 2024. Additional details regarding the restructuring plan and financial results will be provided on the fiscal year 2024 fourth quarter earnings call currently expected to occur on December 19, 2024.
About FuelCell Energy
FuelCell Energy, Inc. is a global leader in sustainable energy technologies that address some of the world’s most critical challenges around energy, safety, and global urbanization. It collectively holds 531 fuel cell technology patents in the United States and globally. As a leading global manufacturer of proprietary fuel cell technology platforms, FuelCell Energy is uniquely positioned to serve customers, including businesses, utilities, governments, and municipalities with sustainable products and solutions. The company’s solutions are designed to enable a world empowered by sustainable energy, enhancing the quality of life for people around the globe. Learn more at fuelcellenergy.com.
Press Contact
kblomquist@fce.com
Investor Relations Contact
tgelston@fce.com
Swapping oil pipes for hydrogen: Exolum’s UK trial of green hydrogen infrastructure
Immingham Terminal Exolum Hydrogen Pipeline - November 2024 Driving Hydrogen
Swapping old oil pipes for hydrogen: Exolum’s UK trial of green hydrogen storage networks. (Image: Exolum)
Spanish firm Exolum has launched a bold first for the UK – by repurposing existing infrastructure used for oil to enable green hydrogen storage and transport.
Taking place at the bustling Port of Immingham in Lincolnshire, the project uses “Liquid Organic Hydrogen Carriers” (LOHC) to move and store hydrogen safely in existing pipelines and tanks, offering an infrastructure-light model for hydrogen’s future.
Hydrogen in old oil tanks
LOHCs are, simply put, organic compounds that “carry” hydrogen in liquid form by chemically bonding to it.
Hydrogen, as we know, is the most abundant element in the universe. But the problem is, it likes to stick to other elements, forming compounds.
LOHCs uses this inherent characteristic to its advantage, absorbing and releasing the gas without the pressures and temperatures required of ‘conventional’ hydrogen storage.
Hydrogen LOHCs Immingham Terminal Exolum Hydrogen Pipeline - November 2024 Driving Hydrogen.jpg
Hydrogen stored in Liquid Organic Hydrogen Carriers (LOHCs). (Image: Exolum)
Exolum is demonstrating that it’s possible to utilise existing infrastructure from oil tanks and pipelines – and economically repurposing it for clean energy.
Exolum’s Ignacio Casajús, Global Strategy & Growth Lead, explains the intent, saying: “This project proposes a realistic, safe, and affordable approach to hydrogen transport.
“By using what’s already here, we’re creating a model that’s flexible, scalable, and efficient.
“This is a cornerstone for building the hydrogen economy faster and with less disruption.”
Scaling hydrogen where it’s needed most
With £505,000 in funding from Innovate UK’s Hydrogen Storage and Distribution Supply Chain Collaborative R&D program, Exolum is putting 400 cubic metres of LOHC – containing 20 tonnes of hydrogen – through a 1.5km pipeline linking their Immingham East and West terminals.
For context, that’s the hydrogen equivalent of driving a car roughly two million kilometres. Or driving to the moon nearly five and a quarter times.
And Immingham, the UK’s largest freight port, is where the demand is anticipated to rise fastest, from ports to nearby industrial hubs around the Humber region.
UK’s hydrogen strategy
Exolum estimates that its UK network could supply around 4.6 TWh of hydrogen a year by 2030 – enough to meet 30% of the UK’s projected demand.
Notably, this strategy targets hydrogen storage near consumption points, eliminating the costly need to build new storage from scratch.
Immingham is a testbed for what could be a nationwide approach, allowing Exolum to scale up without the typical infrastructure headaches.
While this project puts green hydrogen in the spotlight, Exolum is also working on the broader ecosystem.
Their Tees Valley Hydrogen Vehicle Ecosystem project will soon bring green hydrogen production, a water electrolyser, and a 1.5-tonne-per-day refuelling station to Stockton-on-Tees.
This “hub and spoke” distribution set-up offers flexible hydrogen delivery that scales with demand, directly feeding into the UK’s Clean Power Mission 2030 goals.
Hydrogen in Europe
Over on the continent in Spain, Exolum built Madrid’s first integrated hydrogen production and dispensing plant intended to fuel heavy transport, supporting the decarbonisation of road freight and logistics.
Collaborations like the Regenera and GreenH2Pipes consortia showcase Exolum’s commitment to advancing LOHC technology and renewable hydrogen on a continental scale.
Exolum Site in Algeciras, Spain -1332822328
Exolum site in Algeciras, Spain. (Image: iStock)
Hydrogen-powered future
Exolum’s LOHC-based storage model could transform hydrogen’s potential by bringing the green hydrogen market to scale faster and more affordably.
Old fossil fuel infrastructure doesn’t have to sit idle but can become the backbone of a hydrogen-powered world, meaning a cheaper and quicker transition towards a hydrogen society – ready for the clean energy demands of tomorrow.
Primary Hydrogen Corp. Announces Launch of New Website
Fuel Cells Works
By
Fuel Cells Works
November 14, 2024 at 11:22 AM EDT
FuelCellsWorks
Vancouver, British Columbia-- Primary Hydrogen Corp. (TSXV: HDRO) ("PrimaryH2" or the "Company"), a premier natural hydrogen exploration company, is pleased to announce the launch of its newly designed website (www.primaryh2.com) and investor presentation, showcasing the potential of naturally-occurring hydrogen and the Company's Blakelock project.
"The launch of our new website and investor presentation marks the completion of our rebranding efforts towards natural hydrogen exploration," commented Benjamin Asuncion, CEO of Primary Hydrogen. "With the completion of our $3 million capital raise, the Company is well financed to advance exploration on its wholly owned Blakelock project in addition to continuously evaluating opportunities and seeking to build an organic project portfolio."
The Potential of Natural Hydrogen
Hydrogen has the potential to significantly reduce greenhouse gas emissions, allowing companies and countries alike to attain stated emission reduction mandates. The majority of hydrogen production currently comes from steam-methane reforming, which relies on the use of fossil fuels, and electrolysis, which is energy intensive and high cost. The potential to discover, develop, and operate sources of naturally-occurring hydrogen presents a compelling opportunity as it represents a potentially low-cost1, renewable source of this clean-burning fuel. The applications for expanded hydrogen use are numerous including transportation (either used in fuel cells or as a direct fuel source such as ammonia), heat and power (such as blending into the natural gas grid) as well as direct feedstock for other industries (such as oil sands upgrading and decarbonizing steel manufacturing).
About Primary Hydrogen Corp.
Primary Hydrogen Corp. is a mineral exploration company currently focused on its Blakelock hydrogen project in Ontario and Arthur Lake Copper project in British Columbia. The Blakelock Hydrogen Project is comprised of 109 mineral claims covering 2,207 hectares in the Larder Lake Mining Division of Northern Ontario. The Arthur Lake Copper Project is comprised of 1,050 hectares near Vanderhoof, British Columbia.
Hydrogen Goldmine? According to Scientists, This Billion-Year-Old Rift Could Provide Us a Near-Endless Supply of Natural Hydrogen
By University of Nebraska-LincolnNovember 15, 2024No Comments4 Mins Read
Hydrogen Fuel Green Energy
Researchers are examining the Midcontinent Rift’s potential to produce clean hydrogen, a renewable energy source with low emissions. This work could advance the hydrogen economy as a viable alternative to fossil fuels.
Researchers in Nebraska are exploring the Midcontinent Rift’s potential to produce renewable, carbon-free hydrogen, possibly meeting energy needs for centuries.
Around 1.1 billion years ago, the North American continent almost split in two, leaving a 1,200-mile stretch of volcanic rock called the Midcontinent Rift. This geological feature holds the potential to produce substantial amounts of natural hydrogen, which could provide a vast supply of clean energy.
University of Nebraska–Lincoln researchers are studying the rift — which runs from beneath Lake Superior through parts of Minnesota, Michigan, Wisconsin, Iowa, Nebraska, and Kansas — to determine how best to access that hydrogen.
Hydrogen is potentially a key player in the effort to reduce reliance on fossil fuels. It produces no carbon emissions and, unlike oil and gas that can take millions of years to generate from organic deposits, it is constantly renewing underground when water interacts with the volcanic rock.
But there is much to learn.
“Our understanding of processes governing the production, migration, and accumulation of evasive natural hydrogen in the continental deep subsurface is still in its infancy,” said Seunghee Kim, Charles J. Vranek Associate Professor of civil engineering and one of the project’s principal investigators.
Testing the Rift’s Viability
To test the viability of hydrogen production in the rift, a test well was drilled in Nebraska five years ago. So far, the data is promising. Scientists believe it is possible the geomechanical and biogeochemical conditions in the rift limit the loss and consumption of this naturally generated hydrogen, which could leave trapped hydrogen “at an economically meaningful scale in the mid-continent subsurface.”
Hyun Seob Song, Karrie Weber, and Seunghee Kim
Hyun-Seob Song (left), associate professor of biological systems engineering and food science and technology; Karrie Weber (center), professor of Earth and atmospheric sciences and biological sciences; and Seunghee Kim, associate professor of civil engineering, are studying hydrogen found in the Midcontinent Rift as a potential energy source. Credit: Nick Kumpula | Research and Innovation
The Midcontinent Rift is estimated to be 3,000 to 5,000 feet underground.
“It could be deep enough to be stored but shallow enough that we can access it,” said Karrie Weber, professor of Earth and atmospheric sciences and biological sciences and another project investigator. “The geology is in our favor.”The U.S. Geological Survey estimates between tens of millions and tens of billions of megatons of hydrogen are in Earth’s crust. But much of that would be inaccessible to humans because it is either too deep or too far offshore, or present in amounts too small to exploit. That is what makes sites like the Midcontinent Rift so important. Other subsurface rifts in the world — located in France, Germany, Russia, and the African continent — could also produce hydrogen, Kim said.
Global Implications for Hydrogen Energy
The U.S. Geological Survey estimates there might be enough accessible natural hydrogen under the Earth’s surface to meet global energy needs for thousands of years.
Kim said the Nebraska team will explore several questions surrounding hydrogen flow and seepage from the subsurface to the surface; the feasibility of storing hydrogen naturally or in engineered storage systems; how hydrogen reacts with existing fluids and rock minerals in the subsurface; and how fast and how much hydrogen could be consumed by microorganisms.
Kim is approaching the questions from a civil engineering perspective, while Weber and another co-principal investigator, Hyun-Seob Song, are exploring the biogeochemical and microbiology implications.
“This has not been well-studied so far,” said Song, associate professor of biological systems engineering and food science and technology. “We aim to predict the microbiomes’ behavior at this subsurface level.”
Song will develop computational modeling tools to integrate and assess that data that Weber provides.
The project is funded by a five-year, $1 million grant from the National Science Foundation’s Research Advanced by Interdisciplinary Science and Engineering (RAISE) initiative. It is one of 19 projects funded this year.
The research builds on previous work funded by the Nebraska Center for Energy Sciences Research.
Weber said the university’s role in this research is another instance of the state’s potential leadership in what is called “the hydrogen economy,” which refers to the role hydrogen could have in reducing greenhouse gas emissions and serving as a clean energy source.
Yesterday's trading day was fun.
In the afternoon a rumor popped up about a Major Fuel Cell Deal and PLUG Spiked !
Later , we all learned that the deal wasn't with PLUG or with Hydrogen Fuel Cells, but with Bloom and a different fuel and a different technology. Hopefully you will take time to understand AEP's decision to go with Bloom and Natural Gas.
Still, I expect PLUG to get a bump on Bloom's news .
d-1 - NOT HYDROGEN ! Bloom and AEP are using Natural Gas ... Do you know why ?
Let's all look at the price for Natural Gas : $3.00
Let's all look at the price for Hydrogen : $15.00
NYSE:BE, Bloom Energy Announces Gigawatt Fuel Cell Procurement Agreement With AEP To Power AI Data Centers
Deployment at scale will help meet data center customers’ sharply increasing AI loads
Bloom’s clean and reliable fuel cell solution will be co-located at customer sites to rapidly enable AEP to meet the energy and economic development goals of its customers and stakeholders
Bloom Energy (NYSE:BE), the world leader in stationary fuel cell power generation, announced that it has signed a supply agreement with American Electric Power (AEP) for up to 1 gigawatt (GW) of its products, the largest commercial procurement of fuel cells in the world to date. As part of this agreement, AEP has placed an order for 100 megawatts (MW) of fuel cells with further expansion orders expected in 2025.
The agreement expands Bloom’s previous work with AEP to deploy solid oxide fuel cells (SOFCs) in commercial and industrial settings. Bloom Energy’s fuel cell solutions can be rapidly deployed and offer very high availability – a combination of attributes that are not offered by any other commercial solution. Bloom fuel cell deployments have very high-power density, 100 MW per acre. The initial installation of Bloom’s fuel cells will help meet the immediate power of AI data centers.
“I am delighted that there is strong market recognition that the Bloom Energy platform is the ideal choice for powering AI data centers. We are thrilled to be working with AEP as they lead the charge to bring innovative solutions to the transforming electricity market,” said KR Sridhar, Founder, Chairman, and CEO of Bloom Energy. “With our proven track record of more than 1.3 GW deployed, and a fully functional factory that can deliver GWs of products per year, we are ready and able to meet this rapid electricity demand growth.”
The solution will provide power with 34% lower CO2 emissions than today’s displaced marginal generation resources in PJM Interconnection. When running on natural gas, the solution also virtually eliminates SOx and NOx emissions. Bloom’s fuel cells can run on 100% hydrogen or any blend thereof with natural gas, providing flexibility to continue lowering its carbon footprint in the future.
About Bloom Energy
Bloom Energy empowers businesses and communities to responsibly take charge of their energy. The company’s leading solid oxide platform for distributed generation of electricity and hydrogen is changing the future of energy. Fortune 100 companies around the world turn to Bloom Energy as a trusted partner to deliver lower carbon energy today and a net-zero future. For more information, visit www.bloomenergy.com .
Hard not to make good money of some of the movers
Fusion Fuel Issues Damages Claim Against Hydrogenial S.A. For Failure To Fund $33.5 Million Subscription Agreement; Announces Insolvency Of Portuguese Subsidiary
DUBLIN, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Fusion Fuel Green Plc (“Fusion Fuel” or the “Company”) announced today that it has issued a damages claim against Hydrogenial S.A. (“Hydrogenial” or the “Investor”) and its principal, Mr. Norbert Bindner, following their failure to fund the $33.5 million Subscription Agreement disclosed in the Company’s Form 6-K on September 11, 2024. Under the terms of this agreement, entered into in good faith by the Company on August 28, 2024, the Investor committed to purchase an aggregate of 43,790,850 Class A ordinary shares (the "Class A Shares"), along with warrants to acquire an additional 13,137,254 Class A Shares, for a total purchase price of $33,500,000.
Pursuant to Section 3 of the Subscription Agreement, the closing was to take place on September 30, 2024, with full payment due at or before the time of the closing. Despite all conditions to closing being met, as confirmed in discussions with Hydrogenial representatives, the Investor failed to fund in a timely fashion. The Company promptly informed Hydrogenial of its breach and requested immediate resolution, and Hydrogenial subsequently provided the Company with a revised closing date of October 25, 2024; however, to date, the Company has yet to receive proceeds from the investment. This continued delay has led Fusion Fuel to pursue legal recourse.
As a direct consequence of the funding delay, Fusion Fuel has filed for insolvency for its Portuguese subsidiary, Fusion Fuel Portugal S.A., out of which the most significant portion of the Company’s technology sales and project development activities had been conducted. On the advice of insolvency counsel, the Company has submitted a claim in Portugal for damages incurred due to Hydrogenial’s breach. The Company notes that the Investor’s obligation under the Subscription Agreement remains in effect notwithstanding the filing of the claim and the insolvency of its Portuguese subsidiary.
In response to these events, Fusion Fuel is actively exploring strategic alternatives to preserve shareholder value, including a potential transaction that management believes could complement the Company’s hydrogen business and yield significant synergies. The Company expects to provide further updates in short order.
About Fusion Fuel Green plc
Fusion Fuel is an emerging leader in the green hydrogen sector committed to accelerating the energy transition by developing disruptive, clean hydrogen solutions. Fusion Fuel’s patented miniaturized Proton Exchange Membrane (PEM) electrolyzer – the HEVO – and building-block approach to green hydrogen production unlock unprecedented modularity, flexibility, and reliability in the design and deployment of small-to-midscale green hydrogen solutions. Its business lines include selling its electrolyzer systems, developing and selling turnkey hydrogen plants, and providing end-to-end project engineering and advisory services. Learn more about Fusion Fuel by visiting our website at https://www.fusion-fuel.eu and following us on LinkedIn .
Forward-Looking Statements
This press release includes “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target”, “may”, “intend”, “predict”, “should”, “would”, “predict”, “potential”, “seem”, “future”, “outlook” or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Fusion Fuel has based these forward-looking statements largely on its current expectations, including but not limited the ability of the investment reported on to be consummated as anticipated. Such forward-looking statements are subject to risks and uncertainties (including those set forth in Fusion Fuel’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the Securities and Exchange Commission) which could cause actual results to differ from the forward-looking statements.
Investor Relations Contact
ir@fusion-fuel.eu
NYSE American: HYLN Hyliion Holdings Reports Third-Quarter 2024 Financial Results
Hyliion Holdings Corp. (NYSE American: HYLN) (“Hyliion”), a developer of sustainable electricity-producing technology, today reported its third-quarter 2024 financial results.
Key Business Highlights
On track to deliver initial customer units by year-end and reaffirms guidance of low double-digit millions in revenue for 2025
Secured customer commitments exceeding 2025 KARNO™ generator production capacity
Announced revenue recognition beginning in Q4 2024 for military development projects
Announced plans to develop a 2-megawatt KARNO generator product targeting the data center market, with expected deployment in 2026
Awarded a contract for up to $16.0 million by the U.S. Navy’s Office of Naval Research (ONR) to explore the KARNO generator for Navy ships and stationary power
Executed an LOI with ANA, a leader in industrial equipment, for up to 6 KARNO units in mobile power applications
Announced the KARNO generator qualifies under California’s Renewables Portfolio Standard using renewable fuels such as landfill gas, biogas and hydrogen
Successfully demonstrated the KARNO generator’s fuel-agnostic capabilities by transitioning between multiple fuel types without interrupting operation
Ended the quarter with $237.5 million of cash and investments
Confirmed guidance of approximately $55 million in cash expenditures in 2024 for KARNO development including capital investments
Executive Commentary
"Hyliion is pleased to report several exciting developments this quarter, including a significant contract with the ONR, the planned development of a 2-megawatt KARNO system, and customer commitments in excess of our 2025 production capacity," stated Thomas Healy, Hyliion’s Founder and CEO. "These milestones highlight the strong demand for the KARNO generator and its versatility as a power generation solution across multiple applications. We are also looking forward to our first customer deliveries later this year, followed by a ramp-up in deliveries throughout next year."
KARNO Commercial Updates
Hyliion is developing a locally deployable 200kW generator system which it intends to deliver to initial customers beginning in late 2024. Target markets in the commercial power space include EV Charging, Data Centers, Waste Gas & Heat, Prime Power, and Mobility applications. Initial customer deployments will target these markets to demonstrate the versatility of the KARNO generator as well as key product attributes and differentiators versus competing technologies, including efficiency, emissions, fuel flexibility, and operating and maintenance costs. The Company will also garner useful feedback and information on the performance of the generator in these early deployments.
The Company announced during the quarter that a new contract with the Office of Naval Research, combined with two earlier contracts, will provide revenue of up to $17.2 million to perform research and development services related to KARNO generator applications for the U.S. Navy, including the purchase of up to seven KARNO generators. Hyliion believes the KARNO generator can provide a versatile, efficient, and reliable power solution to meet the unique demands of U.S. naval operations in maritime environments. Upon successful validation and demonstration, the KARNO generator could be used as an electric power system in future maritime platforms and for stationary power needs.
Hyliion anticipates beginning to recognize revenue in the fourth quarter of 2024 related to the development work and delivery of KARNO units associated with the military contracts.
Hyliion has now secured customer commitments exceeding its 2025 production capacity, with additional letters of intent already in place for 2026 deliveries. During the quarter, Hyliion announced the execution of a letter of intent (LOI) with ANA, a leading provider of innovative and reliable solutions in the industrial equipment industry, to procure up to six KARNO generators and launch a mobile generator application pilot trial. These customer commitments are executed as non-binding LOIs and are subject to the execution of definitive sales agreements prior to deliveries.
In addition, Hyliion’s KARNO generator, when operating on select renewable fuels, is set to qualify as an eligible technology under California’s Renewables Portfolio Standard (RPS) following the passage of Assembly Bill 1921. This eligibility positions KARNO technology to support California’s climate goals by delivering a versatile, low-emission power generation solution capable of utilizing renewable fuels such as landfill gas, biogas, and hydrogen.
KARNO Generator Development
The Company announced plans today to develop a 2-megawatt KARNO generator system tailored to meet the growing electricity demands of data center operations, driven by the rapid expansion of computing needs and artificial intelligence applications. The generator will provide data centers with a high-power, efficient, and low emission solution within a compact footprint roughly the size of a 20-foot shipping container. The KARNO generator's unique fuel flexibility and high-power density offer data center operators an advantage over other conventional power solutions. The Company expects initial 2-megawatt systems to be deployed in 2026.
Hyliion successfully demonstrated the KARNO generator’s fuel-agnostic capabilities by transitioning between multiple fuel types during operation without interruption. This achievement highlights the generator’s ability to handle impure or mixed fuels, making it ideal for applications in industries like oil and gas, waste gas recovery, and other environments where fuel flexibility is advantageous.
Hyliion continued to take delivery of additive printing machines during the quarter at its Austin, Texas manufacturing facility and placed orders for additional printer deliveries extending through mid 2025. The Company expects to take delivery of its first M Line production additive printer from Colibrium Additive, a GE Aerospace company, in the coming weeks. These advanced printers are designed for volume production and will assist with Hyliion’s production ramp.
Financial Highlights and Guidance
Third quarter operating expenses totaled $14.2 million, compared to $33.3 million in the prior-year quarter. Expenses were offset by a credit of $929 thousand from the sale of assets related to the discontinued powertrain business. Net loss in the third quarter was $11.2 million, compared with $30.3 million in the third quarter of 2023. Year-to-date net loss through September 2024 was $37.7 million, down significantly from $94.4 million during the first three quarters of 2023. Losses in 2023 were primarily driven by spending related to Hyliion’s discontinued powertrain business.
Total changes in cash and investment balances for the quarter were $11.2 million, driven by net operating losses and capital expenditures, partly offset by cash generated from interest income and powertrain asset sales. Total cash and investments at the end of the quarter were $237.5 million.
For 2024, total cash consumed for KARNO development and capital investments is expected to be approximately $55 million. This estimate excludes cash payments associated with share repurchases that have already been conducted during 2024, and payments and asset sales associated with the wind down of powertrain operations. Hyliion continues to expect it will achieve commercialization of the KARNO generator with capital on hand.
Projections for 2025 include growth of KARNO generator deliveries, with proceeds from sales and research and development services in the low double-digit millions of dollars. The Company is also targeting approximately break-even gross margins on a cash basis by late 2025 or early 2026, with cash spending to grow modestly compared to 2024.
About Hyliion
Hyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide distributed power generators that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, Ohio, Hyliion is initially targeting the commercial and waste management industries with a locally deployable generator that can offer prime power as well as energy arbitrage opportunities. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine. The KARNO generator is a fuel-agnostic solution, enabled by additive manufacturing, that leverages a linear heat generator architecture. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy. For further information, please visit www.hyliion.com .
American Electric Power, Bloom Energy in Agreement for Up to 1 GW of Fuel Cells
Natural Gas will be the primary fuel. Great news for the Natural Gas sector.
H2 stocks are Green today
HTOO up 38%
FCEL up 19%
HG up 13%
CH up 10 %
and many more up under 10%
d-1 - A Nothing Burger.
NASDAQ: HYZN ..... HYZON ANNOUNCES SUCCESSFUL TRIAL COMPLETION OF NORTH AMERICA'S FIRST FUEL CELL POWERED REFUSE TRUCK WITH MT. DIABLO RESOURCE RECOVERY
PR Newswire
Further Demonstrates Hydrogen Fuel Cell Technology as a Sustainable, Zero-Emission Solution for Heavy Duty Applications
BOLINGBROOK, Ill. , Nov. 14, 2024 /PRNewswire/ -- Hyzon (NASDAQ: HYZN) (Hyzon or the Company), a U.S.-based, high-performance, hydrogen fuel cell system manufacturer and technology developer focused on providing zero-emission power to decarbonize the most demanding industries, today announced the completion of a successful trial of its refuse collection Fuel Cell Electric Truck (FCET) -- developed in partnership with New Way Trucks -- with Mt. Diablo Resource Recovery (MDRR), a leader in sustainable waste and recycling management.
Hyzon, Mt. Diablo, New Way logos
The trial, which tested the hydrogen-powered vehicle on routes in parts of California including Concord , Pittsburg , Oakley , Rio Vista , and parts of unincorporated Contra Costa , marks a significant milestone in the adoption of zero-emission technology for heavy-duty applications in the waste and recycling sector.
The trial further demonstrated hydrogen's effectiveness as a sustainable, zero-emission alternative to diesel fuel, aligning with California's Advanced Clean Fleet requirements and furthering Mt. Diablo Resource Recovery's commitment to environmental stewardship and innovation. Additionally, this represented Hyzon's tenth trial since July 2024 across both of its Class 8 and refuse collection FCETs, all of which have been successful in meeting or exceeding the expectations set forth by the potential customer.
"We are proud to partner with Mt. Diablo Resource Recovery in pioneering the use of hydrogen fuel cell technology for heavy-duty waste management," said Hyzon Chief Executive Officer (CEO) Parker Meeks . "This successful trial showcases the potential for hydrogen to drive meaningful decarbonization, without sacrificing performance, in challenging sectors like waste and recycling. We are excited to be driving forward hydrogen-powered solutions in collaboration with our customers that deliver both environmental and operational benefits," added Meeks.
Hyzon's refuse collection FCET is built in partnership between Hyzon and New Way Trucks, a privately held, industry-leading refuse truck body manufacturer. The vehicle is North America's first refuse collection FCET. New Way's expertise and leadership in refuse collection and Hyzon's focus on providing zero-emission power to decarbonize the most demanding industries combine to make decarbonized refuse collection a reality for the North American waste and recycling industry.
"We are relentless about innovation to transform the way we manage waste and recycling to maximize our environmental and financial performance," said Kish Rajan, CEO of Mt. Diablo Resource Recovery. "This pilot program is yet another example of what sets MDRR apart."
"Working with Mt. Diablo on this trial showcases what happens when industry and technology experts partner to bring innovative, more sustainable solutions to the industry and propel it forward," said Don Ross , Chief Sales Officer for New Way. "We are in a unique position to provide alternative power solutions to waste haulers looking to meet zero emissions goals and decarbonization initiatives. And we look forward to continuing our partnership with Hyzon to field more hydrogen fuel cell refuse collection trucks that will set a new standard for our industry."
Hyzon's high-performance, hydrogen fuel cell systems demonstrated consistent power over an expected range of at least 125 miles, including at least 1,300 cart lifts along with trips to the transfer station, at up to 300% increased fuel efficiency over traditional diesel trucks. Hyzon's trial program has shown range that in some route structures projects to over 1,500 cart lifts on a single fill of hydrogen.
Alongside trials of its industry-leading refuse collection FCETs, Hyzon is advancing its Class 8 200kW FCET trial program. The Company remains on track to complete customer trials with over 30 major fleets across both platforms between July 2024 and February 2025 .
About Hyzon
Hyzon is a global supplier of high-performance hydrogen fuel cell technology focused on providing zero-emission power to decarbonize demanding industries. With agile, high-power technology designed for heavy-duty applications, Hyzon is at the center of a new industrial revolution fueled by hydrogen, an abundant and clean energy source. Hyzon is focusing on deploying its fuel cell technology in heavy-duty commercial vehicles in Class 8 and refuse collection trucks across North America, as well as new markets such as stationary power applications. To learn more about how Hyzon partners across the hydrogen value chain to accelerate the clean energy transition, visit www.hyzonfuelcell.com .
About MDRR
Mt. Diablo Resource Recovery serves customers, communities, and the environment responsibly by optimizing the use of discarded materials. Today, Mt. Diablo Resource Recovery serves over 250,000 residents and thousands of businesses throughout Contra Costa , Napa , and Solano Counties. By combining excellence in customer service with competitive rates and operating recycling and recovery programs designed to increase sustainability and reduce greenhouse gas emissions, MDRR is a leader in the environmental services industry. The company's Material Resource Facility in Pittsburg, California , contains the area's largest state-of-the-art recycling processing center and C+D line to ensure most of the material can be recycled, reused, and kept out of landfills. We are proud to be Trusted + Proven + Essential. For more information, please visit mdrr.com.
About New Way Trucks
New Way Trucks is the largest privately held refuse collection equipment manufacturer in North America . New Way's product lineup features top-performing rear loaders, front loaders and automated side loaders, including the industry-leading Sidewinder XTR™, ROTO PAC® with our exclusive self-cleaning auger, and the small but mighty Wolverine™ – no CDL required. New Way Trucks engineers and builds advanced, dependable, sustainable refuse collection products that best meet what waste haulers need, along with offering top-quality OEM parts and unmatched support and service through our nationwide distributor network. Visit www.newwaytrucks.com to learn more.
TSXV:NXH, OTC:NXHSF Next Hydrogen Reports Q3 2024 Financial Results
MISSISSAUGA, Ontario, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Next Hydrogen Solutions Inc. (the “Company” or “Next Hydrogen”) (TSXV:NXH, OTC:NXHSF), a designer and manufacturer of electrolyzers, is pleased to report its financial results for the third quarter ended September 30, 2024.
“Next Hydrogen delivered its second-generation system to a customer following an extended factory acceptance test. Further, it passed a key cell performance durability test for this product line which positions us well to deliver on our five demonstrations in 2025,” said Raveel Afzaal, President & CEO. “Next Hydrogen is focused on strengthening its balance sheet to deliver on its growing backlog through (1) $3M of convertible debt offering, (2) $4.6M of approved government grants with an additional $2M in advanced discussions, and (3) on-going discussions with financial institutions about non-dilutive financing options. Successful execution on these three initiatives will capitalize the company into 2026 with potential funding from strategic partners through technology licensing opportunities in certain geographies serving as upside.”
Q3 2024 Financial Highlights
Cash balance was $3.2M as of September 30, 2024, compared to $10.9M as of December 31, 2023.
Revenue for the nine-month period ended September 30, 2024 was $1.2M compared to $0.1M in the same period of the prior year.
Net loss and comprehensive loss for the nine-month period ended September 30, 2024 was $11.2M compared to $8.7M in the same period of the prior year.
Management is proud to highlight several recent milestones that demonstrate significant recent progress:
In November 2024, the Company announced a private placement offering (the “Offering”) of unsecured convertible debentures (each, a “Debenture”) consisting of up to $3M principal amount of Debentures. The closing of the Offering is expected to take place on November 29, 2024. Next Hydrogen intends to use the proceeds of the Offering to invest in its scale-up efforts and for general corporate purposes.
In November 2024, Next Hydrogen and Pratt & Whitney announced a collaboration to demonstrate the use of hydrogen in aircraft engines as an enabler for reducing CO2 emissions. This project is partially funded by Canada’s Initiative for Sustainable Aviation Technology (“INSAT”) and will accelerate the Company’s efforts towards high efficiency, low-cost electrolyzers which are needed for establishing hydrogen production infrastructure for aviation fuel. The Company will receive $2M from INSAT for the completion of Phase 1 over the remainder of this year and into 2025.
In October 2024, the Company successfully completed a durability test of its new second generation water electrolyzer technology (“GEN2”) electrolysis cells used in the efficient production of green hydrogen. The GEN2 cells will be deployed in Next Hydrogen electrolyzers at customer sites for commercial operation. Next Hydrogen previously reported that it has achieved its energy efficiency targets cell performance of 1.90 V/cell at 1 A/cm2 and 70°C for its GEN2 water electrolyzer technology which exceeded the reported US Department of Energy (“DOE”) technical targets status for energy efficiency. The GEN2 performance achievement has positioned the Company to being the industry leader in electrolysis cell performance.
In October 2024, Next Hydrogen welcomed Premier Doug Ford, Associate Minister Sam Oosterhoff, Minister Stephen Lecce, MPP Deepak Anand and MPP Rudy Cuzzetto to their manufacturing facility. This along with the visit from our Deputy Prime Minister (see below) demonstrates the strong alignment between the Company’s work and the national strategy for Canada to be a leader in green hydrogen production.
In September 2024, the Company successfully completed an extended Factory Acceptance Test for its second-generation system. The Company plans to commission the system at an external reference site for market demonstration in the coming months.
In August 2024, the Company was awarded a contract by the University of Minnesota (“UMN”) for its latest generation electrolysis technology to be installed at the UMN West Central Research and Outreach Center (“WCROC”). The WCROC project is supported by the U.S. Department of Energy’s Advanced Research Project Agency (“ARPA-E”) as well as other partners including RTI International (“RTI”) and will include technologies from Casale SA, RTI, UMN, Nutrien and Shell to demonstrate the production of ammonia from renewable energy targeting emerging energy markets and existing agricultural markets. Next Hydrogen will be supplying its latest third-generation Alkaline Water Electrolyzers featuring further advancements in energy efficiency, current density and operating pressure.
In May 2024 the Company was granted a repayable contribution of $2M from Federal Economic Development Agency for Southern Ontario for the fiscal years 2024 and 2025. This non-interest-bearing contribution is intended to support the Company’s growth initiatives aimed at commercialization and business development advancements. The Company continues to be in advanced discussions about additional government grants to help support its activities for 2024 and 2025.
In April 2024, Next Hydrogen welcomed Deputy Prime Minister Chrystia Freeland, Minister Kamal Khera and MP Peter Fonseca to their manufacturing facility to announce new investment tax credits which further supported the Canadian clean technology sector. Minister Freeland also stated publicly “Next Hydrogen in Mississauga is changing the game in renewable energy and clean hydrogen production!”
In November 2023, Next Hydrogen and General Electric Vernova (“GE Vernova”) signed a memorandum of understanding to integrate Next Hydrogen’s electrolysis technology with GE Vernova’s power systems offerings to produce green hydrogen. This collaborative effort will encompass installation, rigorous testing, and the seamless integration of a Next Hydrogen water electrolyzer with a power supply meticulously designed and fabricated by GE Vernova. This collaboration will further support Next Hydrogen’s commitment to pioneering innovative green hydrogen technologies, addressing climate change, and promoting global energy sustainability.
Following the successful completion of a pilot project, the Company received an order for a project involving a specialized nuclear application worth $7.7M. Under the agreement, Next Hydrogen will conduct design engineering (Phase 1) and subsequently provide the electrolyzer needed (Phase 2) for the project. A $5M purchase order has been received for Phase 1, with a potential follow-on order of $2.7M planned for Phase 2 with electrolyzer delivery expected to occur in 2025. To date, $3.8M of cash has been received, with the remainder $1.2M to be received.
Next Hydrogen and Casale SA (“Casale”) have signed a memorandum of understanding to develop green ammonia and methanol systems that integrate Next Hydrogen’s electrolysis technology and products. Under this agreement, the companies will bring together their collective experience and capabilities to accelerate and scale-up green ammonia and methanol plants connected to renewable energy sources. This collaboration provides a compelling pathway to producing clean, zero-emission ammonia and methanol from green renewable energy power sources. During 2023, Next Hydrogen received the first purchase order under this development agreement from Casale.
Next Hydrogen received $0.8M in research and development funding from the National Research Council of Canada Industrial Research Assistance Program (“NRCC IRAP”) toward the development and demonstration of the Company’s next generation products. This will further help the Company accelerate its product roadmap and its mission of driving large scale adoption of green hydrogen solutions to decarbonize the global economy.
The Company has been awarded $5.1M from Sustainable Development Technology Canada (“SDTC”) towards the development and demonstration of the Company’s next generation electrolysis technology. Further, Next Hydrogen is working with four blue-chip industry partners who are contributing a total of $1.2M as a combination of cash and in-kind contributions towards its product development roadmap. These partners include end-users, suppliers and channel partners to ensure strong product-market fit and positions the Company for high quality revenue generation opportunities. This project, with a budget of over $12M will run to early 2025, resulting in the launch of a GEN2 product line with cost and performance improvements and a third-generation larger-scale product line with further cost and performance improvements. With the launch of these products, Next Hydrogen will be well positioned to support the needs of its customers for both near-term market demonstrations and commercial large-scale green hydrogen systems. The payment for the first milestone in the amount of $1.9M was received from SDTC in 2023, while the payment of $1.9M for the second milestone was received in early 2024.
For a more detailed discussion of Next Hydrogen’s third quarter results, please see the Company’s financial statements and management’s discussion and analysis, which are available on the Company’s website at nexthydrogen.com or on SEDAR+ at www.sedarplus.ca.
In addition, to better understand our achievements from 2023 and the outlook for 2024, please refer to the CEO letter included in the 2023 year-end MD&A.
About Next Hydrogen
Founded in 2007, Next Hydrogen is a designer and manufacturer of electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as an energy source. Next Hydrogen’s unique cell design architecture supported by 40 patents enables high current density operations and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale. Following successful pilots, Next Hydrogen is scaling up its technology to deliver commercial solutions to decarbonize industrial and transportation sectors.
Contact Information
Raveel Afzaal, President and Chief Executive Officer
Next Hydrogen Solutions Inc.
Email: rafzaal@nexthydrogen.com
Phone: 647-961-6620
CSE: HG OTCQB: HGRAF HydroGraph Confirms Appointment Of Kjirstin Breure As Chief Executive Officer
Appointment Solidifies HydroGraph’s Leadership And Strategic Growth
TORONTO, Nov. 14, 2024 (GLOBE NEWSWIRE) -- HydroGraph Clean Power Inc. (CSE: HG) (OTCQB: HGRAF) (FRA: M98) (the “Company” or “HydroGraph”), a sustainable commercial manufacturer of pristine graphene, is pleased to announce the appointment of Kjirstin Breure as chief executive officer (CEO) of the company. Breure has been an integral part of the company's leadership, serving as board director and president of the company since January 2022, and as interim CEO since March 2024.
Breure will continue to be responsible for overseeing HydroGraph’s long-term strategy and operational initiatives, collaborating closely with the executive team and board of directors to align HydroGraph’s goals with evolving market needs. Breure is focused on driving value to shareholders and is committed to continuing to foster a company culture of innovation and creativity.
Commenting on her appointment, David Williams, chairman of HydroGraph’s board of directors said, “On behalf of the board I would like to thank Kjirstin for the work she has done for Hydrograph to date. Since stepping into the interim CEO role in March, the board has been impressed with her strategic vision, leadership and commercial focus. In the short time since taking over the interim CEO role, Kjirstin has made a strong impact on driving forward our application development, scientific programs, and building a deep commercial pipeline that will lead to significant graphene sales.”
“Building this company has been my singular focus for the past five years. With a brilliant team at my side, I look forward to breaking new ground within advanced materials and to creating billions of dollars in value for our shareholders,” Breure said.
“I want to express gratitude to the board and to my team for supporting the formalization of this role as well as the trust they have placed in me and my strategy. The vision I have for HydroGraph has never been clearer.”
The announcement comes during a period of significant innovation and growth at HydroGraph, including the appointment of Tom Eldridge as director of business development last month, and HydroGraph’s recent announcement of its breakthrough in PET research .
“The board congratulates Kjirstin on this appointment and looks forward to supporting her as she leads the company through the next phase of its corporate and strategic development and making Hydrograph a world leading graphene producer that will deliver long term growth and value for shareholders,” Williams said.
For more information about HydroGraph, please visit www.hydrograph.com.
ENDS
ABOUT HYDROGRAPH CLEAN POWER INC.
HydroGraph Clean Power Inc is a leading producer of pristine graphene using an “explosion synthesis” process, which allows for exceptional purity, low energy use and identical batches. The quality, performance and consistency of HydroGraph’s graphene follows the Graphene Council’s Verified Graphene Producer® standards, of which very few graphene producers are able to meet. For more information or to learn about the HydroGraph story, visit: https://hydrograph.com/ .
For company updates, please follow HydroGraph on LinkedIn and X .
Plug Symposium 2024: Plug Doing Real Things. Watch the 2024 Plug Symposium in its entirety on demand: here
Plug Power
7.39K subscribers
Posted Nov 13, 2024
November 13, 2024 - 9:00 AM - 1:00 PM ET
Our 6th annual Symposium showcased transformative projects reshaping industries today and disruptive solutions for tomorrow. We're not just envisioning change – we're doing it every day. Watch to learn how Plug drives progress in sustainable energy, turning concepts into reality.
Attendees heard from Plug leaders and invited guests about the adoption of green hydrogen, both today and in the future. The program included
Executive summaries and financial roadmaps
Discussions on US and European policy outlook
Case studies on hydrogen production and distribution
Exploration of market opportunities in motive, stationary power, and beyond
Insights into operational excellence in manufacturing and supply chain
Witness the future. Touch innovation. Be part of the transformation.
Energy Department Quadruples Lending Budget in Rush To Approve 'Green Energy' Loans Before Trump Takes Office
November 14, 2024
https://freebeacon.com/energy/energy-department-quadruples-lending-budget-in-rush-to-approve-green-energy-loans-before-trump-takes-office/
WTM - Yet Another NOTHING BURGER .
Plug Power Hosts 2024 Plug Symposium
November 13 2024
Link to Press Release https://ih.advfn.com/stock-market/NASDAQ/plug-power-PLUG/stock-news/94900413/plug-power-hosts-2024-plug-symposium
Link to Presentation https://d18rn0p25nwr6d.cloudfront.net/CIK-0001093691/792d9937-fabd-4dae-ae75-f8a2d6901110.pdf
Link to Symposium https://event.on24.com/wcc/r/4709318/2EB78C1AF5AAF63684C7F1DF68A30983?partnerref=EarningsPR
Exxon’s chief has a warning for Republicans
The oil giant takes a stance before the Trump administration sets its sights on gutting Biden’s climate agenda.
By Zack Colman
https://www.politico.com/news/2024/11/12/exxon-ceo-us-climate-policy-00188927
11/12/2024
EUROPEAN COURT OF AUDITORS
news
Renewable hydrogen-powered EU: auditors call for a reality check
16/07/2024
2030 goals for renewable hydrogen production and demand were overly ambitious
Chicken-and-egg problem: supply depends on demand, and vice versa
Risk of less competitive key industries and new strategic dependencies
The EU has had mixed success in providing the building blocks for the emerging renewable hydrogen market, according to a report by the European Court of Auditors. While the European Commission has taken a number of positive steps, challenges remain all along the hydrogen value chain, and the EU is unlikely to meet its 2030 targets for the production and import of renewable hydrogen. The auditors call for a reality check to ensure that the EU’s targets are realistic, and that its strategic choices on the way ahead will not impair the competitiveness of key industries or create new dependencies.
Renewable or “green” hydrogen carries significant implications for the future of key EU industries, as it can help to decarbonise especially hard-to-electrify sectors such as steel production, petrochemicals, cement, and fertilisers. It can also help the EU to meet its 2050 climate goals of zero carbon emissions and further reduce the EU’s reliance on Russian fossil fuels.
“The EU’s industrial policy on renewable hydrogen needs a reality check,” said Stef Blok, the ECA Member in charge of the audit. “The EU should decide on the strategic way forward towards decarbonisation without impairing the competitive situation of key EU industries or creating new strategic dependencies.”
To start with, the Commission set overly ambitious targets for the production and import of renewable hydrogen, i.e. 10 million tonnes each by 2030. These targets were not based on a robust analysis, but were driven by political will. Moreover, achieving them has had a bumpy start. Firstly, member states’ differing ambitions were not always aligned with the targets. Secondly, in coordinating with the member states and industry, the Commission failed to ensure that all parties were pulling in the same direction.
On the other hand, the auditors give credit to the Commission for proposing most legal acts within a short period of time: the legal framework is almost complete, and has provided certainty that is key to establishing a new market. However, agreeing on the rules that define renewable hydrogen took time, and many investment decisions were deferred. Project developers also defer investment decisions because supply depends on demand, and vice versa.
Building up an EU hydrogen industry requires massive public and private and investment, but the Commission does not have a full overview of needs or of the public funding available. At the same time, EU funding – estimated by the auditors at 18.8 billion euros for the 2021-2027 period – is scattered between several programmes, thus making it difficult for companies to determine the type of funding best suited for a given project. The bulk of EU funding is used by those member states with a high share of hard-to-decarbonise industry, and which are also more advanced in terms of planned projects, i.e. Germany, Spain, France, and the Netherlands. However, there is still no guarantee that the EU’s hydrogen production potential can be fully harnessed, or that public funding will allow the EU to transport green hydrogen across the bloc from countries with good production potential to those with high industrial demand.
The auditors call on the Commission to update its hydrogen strategy, based on a careful assessment of three important areas: how to calibrate market incentives for renewable hydrogen production and use; how to prioritise scarce EU funding and which parts of the value chain to focus on; and which industries the EU wants to keep and at what price, given the geopolitical implications of EU production compared to imports from non-EU countries.
Background information
Hydrogen can be produced in different ways, e.g. from water using electricity (electrolysis), or from (reforming) natural gas. Renewable hydrogen – i.e. hydrogen produced using either renewable electricity or biomass – is one way to make the EU’s heavy industries climate-friendly.
However, renewable hydrogen comes with its own challenges, including the cost of production, and the need for renewable electricity and water. In 2022, hydrogen accounted for less than 2 % of Europe’s energy consumption, with the largest share of demand coming from refineries. According to the report, the demand that is expected to be stimulated will not even reach 10 million tonnes by 2030, let alone the 20 million tonnes initially envisaged by the Commission. The auditors also note that, as things stand, there is no overall EU hydrogen import strategy.
Special report 11/2024, “The EU’s industrial policy on renewable hydrogen: legal framework has been mostly adopted – time for a reality check”, is available on the ECA website. The ECA has previously issued several reports on the EU’s industrial policy, including on energy storage technologies and on batteries.
Green Hydrogen Startup Unveils H2 Construction Plans near Port of Long Beach
Nov. 11, 2024
The facility is designed to produce up to 4 metric tons per day (MTPD) of compressed green hydrogen through electrolysis. To be considered truly green hydrogen, the H2 must be generated by electrolyzers which are powered by carbon-free resources such as solar or nuclear.
Rod Walton, EnergyTech Managing Editor
ID 220664463 © Scharfsinn86 | Dreamstime.com
67321f62237e37cb50298d39 Green H2 Dreamstime
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Avina Clean Hydrogen is now detailing its plans for a green hydrogen project in the City of Vernon, 10 miles from the Port of Long Beach in Southern California, as part of its target to decarbonize heavy-duty transport and support California’s clean energy goals.
The facility is designed to produce up to 4 metric tons per day (MTPD) of compressed green hydrogen through electrolysis. To be considered truly green hydrogen, the H2 must be generated by electrolyzers which are powered by carbon-free resources such as hydro, wind, solar or nuclear.
Image credit Avina Clean Hydrogen
avina_clean_hydrogen
Once operational, Avina’s Vernon Project will be one of the integrated electrolytic hydrogen production and refueling sites globally, supplying critical infrastructure to replace diesel trucking miles with hydrogen miles.
The facility is expected to offset about 130,000 metric tons of CO2 emissions annually, improving air quality in the local communities. The project is scheduled to commence construction and begin commercial operations from July 2025, considering environmental permits.
“Our facility’s strategic location in Southern California allows us to serve critical transportation corridors and urban markets, helping meet the growing demand for clean hydrogen across the region,” said Vishal Shah, Founder, and CEO of Avina Clean Hydrogen, in a statement.
The Ports of Long Beach and Los Angeles, two of the world's busiest for global shipping, both are aiming for carbon reduction and distributed energy goals. The Port of Long Beach's projects include hydrogen, electrification and microgrids.
Hydrogen fuel cell technology, which converts fuel into electricity via an electrochemical process, promises longer driving range and shorter refueling time for vehicles. Some detractors point out that while hydrogen does not emit carbon dioxide, it does contain other elements and also is short on actual infrastructure to support fueling.
The cost of green hydrogen also is high, but more carbon-intensive gray hydrogen (often generated from natural gas) is close to only $1.50 per kilogram. The U.S. Department of Energy under the Biden Administration is supporting green hydrogen development and hopes to drive costs down to $1 per kilogram by 2030, according to reports.
Avina Clean Hydrogen was started two years ago by leaders with investment engine Hydrogen Technology Ventures to focus on both H2 and ammonia development and production. The platform’s founders say they want to invest $1 billion in green ammonia and hydrogen plants by next year.
So far, Avina Clean Hydrogen has announced projects in California and Texas, as well as collaborations with industry players such as Plug Power, Chart Industries and KBR.
Elcogen secures €24.9m EU funding to boost green hydrogen production
Energy
12th November 2024
©shutterstock/Scharfsinn
Elcogen, a prominent European manufacturer of advanced clean energy technologies, has been awarded a €24.9m grant from the European Union’s 2024 Innovation Fund.
This substantial funding will accelerate Elcogen’s production of solid oxide electrolyser cells (SOEC) and solid oxide fuel cells (SOFC) at its facility in Estonia, boosting its green hydrogen production capacity.
This development marks a significant step in Europe’s efforts to transition to clean energy, with green hydrogen production as a critical component.
Enn Õunpuu, CEO of Elcogen, said: “We are honoured to receive this recognition and support from the European Union.
“This grant is a testament to the EU’s commitment to fostering a competitive green hydrogen production value chain across Europe, highlighting the importance of scaling up in order to meet the energy transition demands we face.”
EU Innovation Fund invests in low-carbon technologies
Elcogen’s grant is part of the EU Innovation Fund, one of the world’s largest funding programmes focused on advancing low-carbon solutions.
With a total budget of €4.8bn for 2024, the Innovation Fund selected 85 projects aimed at driving down greenhouse gas emissions by an estimated 476 million tonnes of CO2 over the next decade.
The chosen projects span a range of sectors, including renewable energy, energy storage, heat pump technology, and hydrogen production, all designed to contribute to the EU’s aggressive climate targets.
Projects receiving funding, like Elcogen’s, are evaluated on their potential to reduce emissions, their capital expenditure (CAPEX), and their ability to scale.
Elcogen’s innovative SOEC and SOFC technologies, which convert renewable energy into green hydrogen and emission-free electricity, fit the Fund’s vision for a decarbonised Europe.
Green hydrogen: A pillar of Europe’s energy transition
Green hydrogen is increasingly recognised as essential for Europe’s shift to a sustainable energy system.
Produced through electrolysis powered by renewable sources, green hydrogen offers a clean alternative to fossil fuels in industries that are hard to decarbonise, such as heavy manufacturing, transportation, and heating.
In contrast to grey hydrogen, which relies on natural gas and generates significant CO2 emissions, green hydrogen is produced without harmful environmental impacts, making it vital for achieving the EU’s net-zero goals by 2050.
The role of green hydrogen production is particularly crucial for Europe, as it aims to reduce dependency on imported fossil fuels and achieve energy security.
Companies like Elcogen are poised to help Europe reach these ambitious objectives by providing reliable, scalable green hydrogen solutions.
Stefano Piscitelli, COO of Elcogen, added: “This award underlines Elcogen’s key role as a provider of efficient, affordable green hydrogen and highlights the impact our state-of-the-art facility will have on Europe’s green energy transition.
“Our team has worked extensively to advance technologies that will drive sustainable energy solutions, and this grant supports us in our journey.”
Future prospects for green hydrogen
With EU backing, Elcogen’s manufacturing expansion aligns with Europe’s broader energy transition strategy.
As green hydrogen production scales, it will help to decarbonise Europe’s economy, drive clean industrial growth, and create new employment opportunities across the region.
https://www.innovationnewsnetwork.com/e24-9m-elcogen-funding-to-boost-green-hydrogen-production/52730/
HERE IS A FUN FACT :
Today, the Hydrogen Fuel Cell Sector, collectively , is at NEW ALL TIME LOWS !
Major boost for hydrogen in China as new law classes it as energy resource, rather than hazardous chemical
H2 will now get improved government support on planning, development, utilisation and storage — and its price will be set or guided by Beijing
Editor, Hydrogen Insight
Published 11 November 2024
https://www.hydrogeninsight.com/policy/major-boost-for-hydrogen-in-china-as-new-law-classes-it-as-energy-resource-rather-than-hazardous-chemical/2-1-1737843
TSXV:NXH, OTC:NXHSF
Next Hydrogen Solutions Inc. Announces Private Placement Of Unsecured Convertible Debentures
MISSISSAUGA, Ontario, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Next Hydrogen Solutions Inc. (the “ Company ” or “ Next Hydrogen ”) (TSXV:NXH, OTC:NXHSF), a designer and manufacturer of electrolyzers, is pleased to announce a private placement (the “ Offering ”) of unsecured convertible debentures (each, a “ Debenture ”) consisting of up to $3,000,000 principal amount of Debentures.
The Debentures shall mature on the earlier of the following to occur:
(i) 24 months from the date of issuance;
(ii) on (x) a sale, merger, arrangement, amalgamation, business combination, or other transaction or series of transactions which results in a person other than the shareholders of the Company immediately prior to such transaction holding more than 50% of the votes attributable to the shares of the surviving issuer or acquiring corporation; or (y) the sale, lease, transfer, exclusive license, or other disposition of all of substantially all of the assets of the Company, unless such sale, lease, transfer, license or disposition is to a wholly-owned subsidiary of the Company; or
(iii) on any demand for payment as a result of an event of default under the terms of the Debenture.
The Debentures shall bear interest at a rate of 10.0% per annum from the date of issue, calculated and paid in cash on a semi-annual basis. The holders of the Debentures may elect to convert the principal and all accrued, but unpaid interest under the Debenture into that amount of common shares of the Company (“ Common Shares ”), computed on the basis of the outstanding principal and all accrued, but unpaid interest under the Debenture divided by $1.00 per Common Share.
The closing of the Offering is expected to take place on November 29, 2024, or such other date(s) as the Company may determine.
Next Hydrogen intends to use the proceeds of the Offering to invest in their scale-up efforts and for general corporate purposes.
The Debentures will be direct, unsecured, subordinated obligations of the Company and will rank equally and rateably with all other existing and future unsecured indebtedness of Next Hydrogen to the extent subordinated on the same terms. The Debentures will not restrict the Company or its subsidiaries from incurring additional indebtedness or from mortgaging, pledging or charging its properties to secure any indebtedness or liabilities. The Debentures are being offered on a private placement basis in Canada and in offshore jurisdictions in reliance upon exemptions from the prospectus requirements under applicable securities legislation.
All moneys quoted in this press release shall be stated and paid in the lawful money of Canada.
The Debentures have not been and will not be qualified for sale to the public under applicable securities laws in Canada, and accordingly, any offer and sale of the Debentures in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Debentures have not been and will not be registered under the United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States, or for the account or benefit of a U.S. person, absent registration under, or an applicable exemption from the registration requirements of, the U.S. Securities Act.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.
This proposed private placement is subject to receipt of all required regulatory approvals, including that of the TSX Venture Exchange (“ TSXV ”). There can be no assurance that the Offering will be completed as proposed or at all.
The TSXV has in no way passed upon the merits of the Offering and has neither approved nor disapproved the contents of this press release.
About Next Hydrogen
Founded in 2007, Next Hydrogen is a designer and manufacturer of electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as an energy source. Next Hydrogen’s unique cell design architecture supported by 40 patents enables high current density operations and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale. Following successful pilots, Next Hydrogen is scaling up its technology to deliver commercial solutions to decarbonize transportation and industrial sectors.
Contact Information
Raveel Afzaal, President and Chief Executive Officer
Next Hydrogen Solutions Inc.
Email: rafzaal@nexthydrogen.com
Phone: 647-961-6620
www.nexthydrogen.com
VANCOUVER, BC , Nov. 12, 2024 /CNW/ - Greenlane Renewables Inc. ( "Greenlane ") (TSX: GRN) (FSE: 52G) is pleased to announce that it has secured a $6.5 million contract to provide a new system for upgrading biogas produced at a landfill in Canada into pipeline-quality renewable natural gas ("RNG"). The customer's name and further contract details have not been disclosed at this time.
Greenlane Renewables Inc. (CNW Group/Greenlane Renewables Inc.)
"We're seeing traction on the further build out of RNG-producing facilities in Canada and the acceleration of decarbonization through renewable energy infrastructure," said Brad Douville , CEO of Greenlane. "Beyond our commitment to decarbonization, we're deeply committed to our customers' success and are set to begin order fulfillment immediately."
Greenlane's biogas upgrading systems cleanse the impurities in biogas and separate the carbon dioxide from the biomethane to create a clean, high-purity low-carbon fuel: biomethane / RNG. Greenlane is the only biogas upgrading company offering and actively deploying multiple core technologies: water wash, pressure swing adsorption (PSA), membrane separation, plus proprietary desulfurization solutions.
Greenlane solutions are built around standard product platforms. Once operational, Greenlane can provide aftercare service including 24/7 technical support and remote monitoring, as well as maintenance and spare parts. For more information on Greenlane's biogas upgrading solutions, click HERE .
Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a developer of sustainable electricity-producing technology, is pleased to announce the successful demonstration of the KARNO™ generator’s groundbreaking fuel-agnostic capabilities, showcasing an uninterrupted transition between multiple fuel types during live operation. This achievement highlights the KARNO generator’s ability to offer customers a flexible and sustainable power solution that can adapt to different fuel sources—a capability that sets it apart from conventional generators.
The KARNO generator was tested using natural gas, then adjusted to a nitrogen-rich syngas, and then operated on various mixtures of natural gas and hydrogen up to a majority hydrogen composition. Without requiring recalibration or shutdown, the generator was able to adapt to these changes while maintaining power output due to its robust design and smart control system that can accommodate real-world fuel variability. Designed to operate on over 20 different fuels, including natural gas, hydrogen, propane, diesel, ammonia, and methane, the KARNO generator offers customers the opportunity to future-proof their energy solutions by enabling the use of both traditional and alternative fuel sources that may become more widely available in the future. Additionally, the KARNO generator can achieve zero carbon emissions with specific fuels and ultra-low NOx and CO emissions, offering a more sustainable alternative to conventional generators.
“This adaptability means customers can benefit from the generator’s capability to handle impure or variable fuels, making it ideal for applications in industries like oil and gas, waste gas recovery, and other environments where fuel composition may vary,” said Thomas Healy, Founder and CEO of Hyliion. “I’m incredibly proud of our team’s progress on this groundbreaking technology and excited to see how it will transform sustainable power solutions for our customers.”
Hyliion anticipates initial deliveries to early adopter customers by the end of the year and is focusing on sectors like EV charging, data centers, waste gas utilization, and marine power. Not all compatible fuels may be available at commercial launch.
About Hyliion
Hyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide distributed power generators that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, Ohio, Hyliion is initially targeting the commercial and waste management industries with a locally deployable generator that can offer prime power as well as energy arbitrage opportunities. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy. For further information, please visit www.hyliion.com .
Gold Hydrogen Ltd
ASX:GHY
Gold Hydrogen expands footprint to support growing hydrogen sector
Published: 09:49 12 Nov 2024 AEDT
Effort to Develop First U.S. Liquid Hydrogen-Fueled RoPax Ferry
liguid hydrogen fueled RoPaxSWITCH promotes the move to a larger platform to enable the U.S. adopt liquid hydrogen fueled vessels (LMG Marin)
Published Nov 11, 2024 6:05 PM by The Maritime Executive
An effort is underway to leverage the cutting-edge technology for hydrogen-fueled vessels to develop the first RoPax vehicle ferry in the U.S. to be fueled by liquid hydrogen. SWITCH Maritime, the U.S. shipowner that launched the first hydrogen-powered ferry in the U.S. is in collaboration with LH2 Shipping and LMG Marin in Norway to commence construction in the U.S. of a hydrogen-fueled RoPax ferry.
SWITCH’s first hydrogen-powered vessel, the Sea Change, is a 75-passenger catamaran ferry featuring 600 kW of electric motor propulsion, powered by 360 kW of fuel cells with 246 kilograms of gaseous H2 (GH2) storage at 250 bar pressure. The Sea Change started public passenger service as part of the San Francisco Bay Ferry system in July 2024, after receiving its final Certificate of Inspection (COI) from the U.S. Coast Guard in May 2024.
“With rigorous planning, state-of-the-art engineering, and support from leading industry partners and the U.S. Coast Guard, we are ready to pioneer zero-carbon LH2 fueling for heavier, higher-horsepower workboats,” explains Pace Ralli, Founder & CEO of SWITCH.
They plan to develop a vessel using the designs from LMG Marin for an 80-car, 300-passenger RoPax vehicle ferry. The design is already DNV classed and is being successfully operated by Norled. Named MF Hydra, the ferry performs a triangular six nautical mile round-trip fueled with liquid hydrogen (LH2). The companies highlight it has a four-tonne LH2 tank (about the size of a 40-foot container) that fits easily on the top deck and receives fuel from an LH2 truck via a bunkering system using over-pressure in the truck to push the liquid to the ship. To date, MF Hydra has successfully received LH2 fuel approximately 50 times since starting hydrogen-powered operations in March 2023.
The RoPax vehicle ferry will have a service speed of 14 knots and is expected to require fueling only once per week (volume of 3000 kilograms from one LH2 truck) in a typical operation, with no requirement for shoreside electric charging infrastructure. While the design will require some further adapting to meet USCG requirements, SWITCH notes the larger steel hull of the vehicle ferry offers more flexibility in terms of space and weight compared to aluminum catamaran fast ferry designs, making it an ideal platform for introducing LH2 fueling in the U.S. The LH2 from the cryogenic storage tanks is vaporized onboard and used in the PEM fuel cells to create electricity for the electric motors. Like the GH2 fast ferries, the vessel’s only emissions will be pure H20 vapor, with zero carbon or other diesel-related emissions.
In addition to the Sea Change, SWITCH is also working on a 150-passenger, 25-knot catamaran to build for the SF Bay Ferry service, using the same gaseous H2 (GH2) storage and fuel cell equipment as the first vessel (to be revealed in Q1 2025). When designing larger zero-emissions harbor craft such as 300+ passenger ferries, vehicle ferries, and harbor tugs, SWITCH plans to transition from gaseous storage to cryogenic liquid H2.
SWITCH has focused on hydrogen for its potential to serve as a viable option highlighting its belief that other battery-only solutions fall short due to space and weight constraints. The company notes that generally, hydrogen as a fuel source can support greater range and power requirements due to its high energy density. Additionally, it simplifies zero-emissions vessel operations by eliminating the need for fixed shoreside charging infrastructure, allowing for fueling through established truck-to-ship or ship-to-ship practices. Compressed GH2 SWITCH says is well suited for small- to medium-sized vessels; however, as vessel size and energy demand increase, cryogenic LH2 becomes the preferred storage solution. Similar to Liquefied Natural Gas (LNG), cryogenic LH2 supports faster refueling speeds for large volumes (e.g. tons per hour).
https://www.maritime-executive.com/article/effort-to-develop-first-u-s-liquid-hydrogen-fueled-ropax-ferry
First Nations climate organization joins COP29 Canadian delegation
Key priorities include First Nations collaboration, nature-based solutions and partnering with Asian countries to help decarbonize their economies
Harvin Bhathal
39 minutes ago
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Countries from around the world will meet for climate negotiations at COP29 in Baku, Azerbaijan from Nov. 11 - Nov. 22.Zulfugar Graphics/Shutterstock
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The First Nations Climate Initiative (FNCI) is going to its third straight United Nations climate conference (COP29) with the Canadian delegation.
At the conference in Baku, Azerbaijan, a country off the coast of the Caspian Sea, FNCI plans to call on the B.C. and federal governments to make policy and regulatory changes that enable large net-zero infrastructure projects, boost economic development for B.C and Canada through partnerships, and further reconciliation with First Nations. They have several detailed goals for the global summit taking place between Monday, Nov. 11 to Friday, Nov. 22.
"Everybody knows that Canada's greenhouse gas emissions footprint isn't that significant in a global context. But our resources, if they're produced and managed in the right way, they can have a big impact. We can help others decarbonize, as well as decarbonize ourselves," said Alex Grzybowski, FNCI facilitator and CEO of K’uul Power+, who is a part of the delegation.
Decarbonization refers to shifting away from fossil fuels to renewable energy sources as quickly as possible.
"That's what it's all about acting globally and benefiting locally, transforming our economy while we participate in global trade that is oriented towards decarbonization," Grzybowski continued.
FNCI was established in 2019 and is led by the Haisla, Metlakatla, Nisga'a and Halfway River First Nations.
Canada-Asia Decarbonization Opportunities project
In 2023, Robert Johnston independent research advisor to FNCI and research director of the Center on Global Energy Policy, completed a report that identified ways in which Canadian resources could contribute to decarbonization in Asia. Johnston is also part of the delegation travelling to Baku.
"In particular, we'd like to work with countries that have a lot of affinity with Canada, like Korea and Japan," said Grzybowski. "We get along really well, we have very similar policy orientations with respect to climate change and they need our help or our resources to decarbonize their economies.
In addition to presenting at the Canada Pavilion, FNCI is hosting an event at COP29 titled "Decarbonization in Asia: Contributions from Canadian Indigenous Communities & Their Partners, 'Lessons from the Grease Trail'." They hope to further their economic and environmental collaboration with Asian countries through this event.
Grzybowski shared an example of decarbonization that Japan is undertaking.
"Last year, Japan made a commitment of tens of billions of dollars in subsidies to purchase ammonia so that they reduce the GHG footprint of their coal-fired plants," he said. "What that means is they mix the ammonia with the coal and when they burn the mix, the carbon footprint of the process goes down because ammonia doesn't produce GHG."
"Where are they going to get the ammonia from?" he asked. "Canada."
"Right now we manufacture it using a technological process [called methane pyrolysis] that has been active for many years. We break down the methane molecule into solid carbon and hydrogen by heating it. We use the solid carbon for other purposes, like graphite for batteries, asphalt for roads and more. You can manufacture ammonia by combining hydrogen with nitrogen, which is the most common gas in the atmosphere. You get ammonia and it's GHG free."
There are four methane pyrolysis pilot projects in B.C., two of which are working with FNCI Nations — Innova Cleantech in Prince Rupert and New Wave Hydrogen in Burns Lake. There will be more details released regarding these projects following COP29, but FNCI is calling for Asian and Canadian private and public sector organizations to partner with them on these projects.
FortisBC is working with Australian tech company Hazer to set up a production facility. They received $8 million in provincial funding in 2022. They originally planned to build it at Suncor's Burrard terminal in Port Moody, but they withdrew in 2023 "as a result of a corporate portfolio review." FortisBC and Hazer are still searching for an alternative site in B.C.
Vancouver-based company Ekona Power is developing a methane pyrolysis reactor at its test facility in Burnaby. Operational testing is set for 2025 and it is expected to be commercially ready by 2026. One of Ekona's investors is Mitsui & Co., a Japanese global investment and trading company.
Grzybowski shared this process can be useful in other ways in Japan and Korea. These two countries are home to some of the biggest steel manufacturers in the world — Nippon Steel in Japan and POSCO in Korea.
"They're trying to make green steel, which the world needs. It's very difficult to decarbonize steel production. They're looking at ways to do it and we're looking at how we can partner with them," he said.
FNCI is calling for the B.C., Alberta and federal governments "to adopt policies and enter international partnerships that ensure that Canadian low-carbon resources and emerging decarbonized fuels contribute directly to GHG reductions and decarbonization in the countries that are our trading partners."
First Nations collaboration
One FCNI's goals is to show the benefits of working with First Nations on zero-emission and low-carbon energy and resource projects. First Nations across Canada are currently developing and partnering in major projects that will add billions of dollars to provincial coffers.
In May of this year, 35 First Nations throughout B.C. received 9.8 million dollars through the British Columbia Indigenous Clean Energy Initiative, or BCICEI, for alternative energy projects. These projects include small- and large-scale solar arrays, home energy efficiency retrofits, a 40-megawatt wind project and more. Since 2016, the BCICEI has supported 174 First Nations projects.
The initiative is a clean-energy funding partnership between the federal government, B.C. government and the New Relationship Trust.
Nature-based solutions
Another goal is to demonstrate how nature-based solutions such as restoring ecosystems act as carbon sinks with the newly designed B.C. Output-Based Pricing System, or B.C. OBPS, that FNCI has been advocating for. It is replacing the CleanBC Industrial Incentive Program that will be phased out by the end of 2024.
The new performance-based system ensures there are incentives for industrial emitters to reduce greenhouse gas emissions while also promoting innovation and competitiveness. Instead of paying the carbon tax on fuels and combustibles they use or burn, they will face a separate carbon price on the portion of their emissions that are above the product-specific emissions limit.
Companies are obligated to emit less than their annual emission limit, which is determined by the capacity of their operation. For example, if a company emits over the limit of 10,000 tonnes of carbon dioxide equivalent — all greenhouse gasses emitted, not just carbon emissions — they must pay for each tonne above the limit.
Companies have the option of paying a monetary amount or through compliance mechanisms. If monetary, the charge is 80 dollars per tonne of carbon dioxide equivalent, and that price will rise 15 dollars each year. Compliance mechanisms include purchasing B.C. offset units, which could include investing in an approved project on the B.C. Carbon Registry, such as a First Nations ecosystem restoration project.
Purchasing an offset unit is cheaper than paying the carbon tax and more effective, said Grzybowski.
"If companies pay the industrial carbon tax, how much of it actually goes into mitigating climate change? It's a very difficult question to answer," he said. Instead, "when they purchase a credit or offset from First Nations, their money goes into restoring those ecosystems so they can suck carbon dioxide out of the atmosphere. That's a really significant difference."
"Which would you rather do? It's kind of a no-brainer," he continued.
If companies emit under their annual emissions limit, they will also earn credits in the form B.C. OBPS earned credits. These credits can be traded to companies who were over the limit or saved up to meet a future compliance obligation.
Either way, projects in the B.C. Carbon Registry get investment and carbon is potentially removed from the atmosphere.
According to a press release, "FNCI has buyers ready to purchase millions of tonnes of high-quality offsets—those that are verified, additional and credible—from these and other Indigenous NBS (Nature Based Solutions) projects in B.C."
However, the use of these units is limited. In 2024, a maximum of 50 per cent of the compensation can be met with offset or earned units, reducing to 40 per cent in 2025, and fixed at 30 per cent from 2026 to 2030, according to the B.C. OBPS framework.
FNCI expressed that for NBS projects to proceed, "atmospheric benefit sharing agreements must be put into place and the Province must adjust the policy and regulatory framework to increase the volume of NBS credits that can be used to offset carbon tax obligations, which would result in more climate benefits."
Atmospheric Benefit Sharing Agreements enable First Nations to sell carbon credits. Only 14 First Nations are currently part of the agreement.
Renewable energy infrastructure in northwest B.C.
FNCI plans to highlight progress that has been made on the construction of renewable energy infrastructure in northwest B.C.
In 2022, BC Hydro proposed to build a 500 kilovolt (kV) transmission line between Prince George and Terrace to meet the clean energy demands of northwest B.C. The North Coast Electrification project would be built in two phases or as two separate projects.
The Prince George to Glenannan Transmission Project, or PGGT, would be a 170 km line from Williston to Glenannan substation. The Glenannan to Terrace Transmission Project, or GTTT, would be a 130 km line from Glenanna substation to Telkwa substation and 145 km from Telkwa substation to Skeena substation.
These projects would also include additional infrastructure, such as a fibre optic cable, expansion of capacitor stations through the Prince George to Terrace Capacitors Project (PGCP), and upgrades or expansion of substations.
north-coast-electrification-project-map-full-size_page-0001
The proposed schedule for the PGGT line to be in operation is by 2030 and the GTTT line is proposed to be operational by 2032.
BC Hydro has worked with First Nations to identify leading routes for each project, prioritizing route options that are within existing BC Hydro rights-of-way or parallel to them to mitigate potential impacts.
Chief Wes Sam of the Ts’il kaz Koh First Nation and chair of K’uul Power+, shared these projects need to be owned, wholly or in part, by the Nations who are affected. Sam is part of the Canadian delegation at COP29.
K'uul Power+ was formed in October 2023 to support First Nations that wanted to work together to build these two projects, as well as, future renewable energy projects. They would prefer to be owners of the projects before they are commissioned as once they are, many of the consequential decisions would already have been made.
"We would like to see green power that is in partnership with First Nations. Right now, we're in negotiations with BC Hydro. We have a number of boards of directors and Nations working to accomplish a deal moving forward," Sam shared.
FNCI is calling on the B.C. and federal governments to "proactively invest in Indigenous-led renewable energy transmission and generation infrastructure to support the creation of a decarbonized economy in northwestern B.C."
The goal is impact, not credit
For the First Nations Climate Initiative, it is not about whether Canada gets credit or not, according to their Climate Action Plan.
"It's about creating partnerships that ensure that our resources are being used in the right way that we are contributing to decarbonization," said Grzybowski.
The complete delegation that will represent Canada at COP29 includes: Chief Sam; Chief Darlene Hunter of the Halfway River First Nation; David Myers, a technical representative of the Halfway River First Nation; Miles Jolliffe, advisor for the Wet’suwet’en First Nation; Robert Johnston and Alex Grzybowski.
No Worries.
Industry Leaders Call for Decisive Action on Clean Hydrogen at COP29
Industrial leaders from across the globe call for collective commitment to scale demand for clean hydrogen and its derivatives by 2030 underpinned by robust incentives and mandates.
BRUSSELS, November 11, 2024 – As world leaders gather in Baku this week, a coalition of nearly two dozen industry associations around the globe is calling for urgent action to scale demand for clean hydrogen and its derivatives by 2030, underpinned by robust incentives and mandates.
Accelerating the implementation of the government policies that drive hydrogen deployment can unlock significant environmental, economic and societal benefits by mid-century:
Abatement of 60-80 gigatons of CO2,
Savings of some $3.7 trillion in capital investments, driven by cross-border supply chains for hydrogen and its derivatives,
Creation of some 25 million good-quality jobs worldwide.[1]
Global investment in hydrogen has grown 7-fold in just the last four years, reaching $75 billion in committed capital across 434 large-scale projects past FID. However, to fully realize its benefits, hydrogen deployment across end use sectors would need to reach some 75 Mt p.a. by 2030. Whereas the mandates and demand-side incentives put forward by governments to date could translate into 7 Mt p.a. by 2030 globally.
This is why the Hydrogen Council, together with the leading partner associations worldwide* put the spotlight on practical actions that can be taken by governments in the next two years to advance deployment, including the implementation of relevant incentives and mandates, infrastructure development, as well as the opportunity to incorporate hydrogen in countries’ 2025 Nationally Determined Contributions to signal continued commitment and attract investment.
We stand ready to work together with governments to accelerate the energy transition, strengthen energy security, and support political stability and just transitions world-wide.
*Ammonia Energy Association, Ammonia Europe, Australian Hydrogen Council, ABH2 Associação Brasileira do Hidrogênio, Canadian Hydrogen Association, H2 Chile Asociación Chilena de Hidrógeno, Clean Fuel Ammonia Association, Hidrogeno Columbia, Hydrogen Council, Hydrogen Europe, FCHEA Fuel Cell & Hydrogen Energy Association, IH2A India Hydrogen Alliance, Hydrogen Ireland, Japan Hydrogen Association, H2 México Asociación Mexicana de Hidrógeno, MENA Hydrogen Alliance, Hydrogen New Zealand, Hydrogen UK.
Emerging trade corridors for hydrogen and its derivatives, Hydrogen Council – International Hydrogen Trade Forum joint initiative, May 2024
About The Hydrogen Council
The Hydrogen Council is a global CEO-led initiative with a united vision and long-term ambition for hydrogen to accelerate the clean energy transition. It brings together a diverse group of 140 companies from 20 countries across Americas, Europe, Africa, the Middle East and Asia Pacific. Spanning the entire value chain, and including large multinationals, innovative start-ups as well as investors, the Council’s membership represents some $9 trillion in market capitalization, 6.8 million in FTEs and some $6.4 trillion in revenues.
The Council is committed to unlocking the sustainability potential of clean hydrogen, fostering business and technological innovation as drivers for sustainable growth, creating quality jobs and delivering social value. Using its global reach to promote collaboration between industry, governments, investors, and the civil society, the Council provides insights on and pathways for accelerating the deployment of hydrogen ecosystems around the world. It also supports the development of international safety and sustainability standards, paving the way for the deployment of reliable hydrogen solutions at scale.
To find out more visit?www.hydrogencouncil.com?and follow us on?LinkedIn and X?@HydrogenCouncil.
https://hydrogencouncil.com/en/industry-leaders-call-for-decisive-action-on-clean-hydrogen-at-cop29/
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The United Nations (UN) has reiterated the need to expedite projected emissions reductions from the use of fossil fuels. According to a recent UN assessment, while the global emissions curve is evolving, the goal of limiting global temperature rise to 1.5 °C is still not being met.
Rather than reducing emissions by 45 % by 2030, they are expected to increase by 11 %.1
Failing to meet intermediate targets risks missing the goal of reaching net zero emissions by 2050, which is a legally enforceable obligation for many countries. The International Energy Agency describes an inflection point that will speed the transition from fossil fuels to cleaner alternatives.
Emissions Trading Programs
The world's leading economies have programs to encourage participants to cut their emissions, many of which take a 'cap and trade' approach.
The European Commission (EC) explains the European Union's (EU) Emissions Trading System (ETS) as follows:
“A cap is set on the total amount of certain greenhouse gases that can be emitted by the operators covered by the system. The cap is reduced over time so that total emissions fall. Within the cap, operators buy or receive emissions allowances, which they can trade with one another as needed. The limit on the total number of allowances available ensures that they have a value. The price signal incentivizes emission reductions and promotes investment in innovative, low-carbon technologies, whilst trading brings flexibility that ensures emissions are cut where it costs least to do so. After each year, an operator must surrender enough allowances to cover fully its emissions, otherwise heavy fines are imposed. If an installation reduces its emissions, it can keep the spare allowances to cover its future needs or else sell them to another operator that is short of allowances.”2
Despite no longer being a member of the EU, the UK ETS adheres to the same rules as the EU ETS. The United States also operates a 'cap and trade' scheme to incentivize greenhouse gas reductions.
Energy-intensive sectors, such as oil refining, metallurgy, and power generation, must comply with CO2 emission restrictions. Noncompliance carries penalties; in the EU and UK, they are currently set at £100 and €100 per ton, respectively.
The Hydrogen Element
Hydrogen generated from "clean" renewable energy can help make the transition away from fossil fuels more feasible.
The primary emission from burning hydrogen is water, and while hydrogen combustion produces NOx emissions, it does not cause carbon emissions.
In the United Kingdom, the Energy Networks Association (ENA) announced Britain’s Hydrogen Blending Delivery Plan, stating that gas grid firms will reach the government's aim of blending 20 % hydrogen into natural gas provided to British homes and businesses.
According to the ENA, adding 20 % hydrogen to the gas grid will reduce carbon yearly emissions by the equivalent of taking 2.5 million automobiles off the road.3
The European Commission's Joint Research Centre (JRC) published a report titled Blending Hydrogen from Electrolysis into the European Gas Grid.
According to the findings, up to 5 to 10 % by volume of hydrogen could be injected into the natural gas grid without requiring end users to adjust installations or large modifications to transmission structures.
Solar and wind power generation can reduce the use of fossil fuels for hydrogen generation. However, the JRC states that additional renewables and storage will be required to reduce reliance on fossil fuel-based electricity and that JRC modeling suggests that storing just a few hours of supply can reduce the carbon intensity of hydrogen produced by electrolysis by up to 40%.4
In support of the measures above, the UK and EU are developing infrastructure to create and use growing amounts of hydrogen. In the north of the United Kingdom, one such project, "HyNet", is intended to capture and store CO2 and manufacture, transport, and store hydrogen.5
This project is already underway; captured CO2 will be stored in almost empty gas fields beneath the sea at Liverpool Bay, while low-carbon and flexible hydrogen production will support the supply of cleaner hydrogen for use by nearby industries and eventually blended into the gas grid for homes and businesses.
A buffer hydrogen supply will be kept in former salt caverns that currently store natural gas. These repurposed caverns will hold 35,000 tons of hydrogen to help manage energy demand peaks and troughs. Figure 1 shows the structure of HyNet Northwest.
A similar initiative in Europe is underway, known as the European Hydrogen Backbone (EHB); this program, which is supported by 31 energy infrastructure companies from 28 countries, aims to establish a Pan-European hydrogen pipeline infrastructure necessary to ensure demand and supply security, as recognized by the EC's hydrogen and decarbonized gas package, which was published in December 2021.6
The EC aims to develop a 20.6 Mt renewable and low-carbon hydrogen market by 2023. EHB is supporting this by creating “five Pan-Europe hydrogen supply and import corridors connecting industrial clusters, ports and hydrogen valleys to regions of abundant hydrogen supply”.
Global Hydrogen Powered Transport Market Forecast To Reach $84.04 Billion By 2028 With 59.0% Annual Growth
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TBRC Business Research Pvt Ltd.
November 11, 2024, 12:15 GMT
The Business Research Company
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The Business Research Company's Hydrogen Powered Transport Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The hydrogen-powered transport market has experienced remarkable growth in recent years, projected to expand from $8.27 billion in 2023 to $13.16 billion in 2024, reflecting a compound annual growth rate (CAGR) of 59.2%. This historical growth can be attributed to factors such as environmental concerns, government subsidies and incentives, energy security, global regulations, and increasing public awareness and acceptance.
What Are the Market Size Estimates for the Global Hydrogen Powered Transport Market and Its Expected Growth Rate?
The hydrogen-powered transport market is anticipated to experience exponential growth in the coming years, projected to reach $84.04 billion by 2028, with a compound annual growth rate (CAGR) of 59.0%. This growth during the forecast period can be linked to advancements in infrastructure, international collaboration, economic viability, stringent emission standards, and corporate sustainability initiatives.
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What Are The Primary Growth Drivers Of The Hydrogen Powered Transport Market?
The growth of the hydrogen-powered transport market is significantly influenced by the rise in government initiatives aimed at developing hydrogen fuel cell infrastructure. Various governments have adopted multiple strategies to address environmental concerns and promote cleaner transportation solutions.
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Who Are The Top Market Players Contributing To The Growth Of The Hydrogen Powered Transport Market?
Key players in the hydrogen powered transport market include Volkswagen Group, Toyota Motor Corporation, Bayerische Motoren Werke AG (BMW), Mercedes-Benz Group AG, General Motors Company, Honda Motor Co. Ltd., Hyundai Motor Group, SAIC Motor Corporation Limited, FAW Group Corporation, Audi AG, Kia Corporation, Volvo Group AB, Groupe Renault, Tata Motors Limited, Mazda Motor Corporation, Great Wall Motor Company Limited, Dongfeng Motor Corporation, MAN Truck & Bus SE, Beiqi Foton Motor Co. Ltd., Plug Power Inc., Dayun Group, Ballard Power Systems Inc., ZeroAvia Inc., Nikola Corporation, ULEMCo Limited, Hyperion Motors, Hyzon Motors Inc., Tevva Motors Ltd.
What Emerging Trends Are Affecting The Size Of The Hydrogen Powered Transport Market?
Key players in the hydrogen-powered transport market are creating innovative products, such as high-performance hydrogen fuel cell electric vehicle platforms, to enhance their competitive advantage. A high-performance hydrogen fuel cell electric vehicle (FCEV) platform serves as an advanced and adaptable base for the design and production of vehicles powered primarily by hydrogen fuel cells.
How Is the Global Hydrogen Powered Transport Market Segmented?
1) By Fuel Cell Technology Type: Proton Exchange Membrane Fuel Cells, Phosphoric Acid Fuel Cells, Other Fuel Cell Technologies
2) By Vehicle Type: Cars, Buses, Trucks, Other Vehicles
3) By End Use: Passenger Vehicle, Commercial Vehicle
Geographical Analysis: North America Emerges as the Hydrogen Powered Transport Market Leader
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition And Overview Of The Hydrogen Powered Transport Market?
Hydrogen-powered transport refers to vehicles that utilize hydrogen as their primary fuel source. These vehicles operate with powertrains that can either burn hydrogen in internal combustion engines or use fuel cells. In fuel cell systems, hydrogen reacts with oxygen to generate mechanical energy, which powers electric motors, offering a clean and efficient alternative to traditional fuel sources.
The Hydrogen Powered Transport Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Hydrogen Powered Transport Market Report: Trends, Opportunities, Strategies, and More
The Hydrogen Powered Transport Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into hydrogen powered transport market size, hydrogen powered transport market drivers and trends, hydrogen powered transport competitors' revenues, and hydrogen powered transport market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Worth posting again.
Are We There Yet? Treasury Promises Final Section 45V Hydrogen Tax Credit Regulations by Year-End
October 9, 2024
https://btlaw.com/insights/alerts/2024/are-we-there-yet-treasury-promises-final-section-45v-hydrogen-tax-credit-regulations-by-year-end
"The hydrogen has to be produced somewhere and also safely delivered to your home."
Will These Make Hydrogen Cars Easier to Own?
Toyota showcases portable hydrogen canisters, but there are still plenty of practical issues to solve.
By Jay RameyPublished: Oct 23, 2024 10:47 AM EDT
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portable hydrogen canisters
Toyota reveals prototype portable hydrogen canisters at Japan Mobility Show Bizweek 2024 in Chiba prefecture, Japan, showcasing a hydrogen FCEV charging concept for vehicles and appliances.
The hydrogen canisters could be used to refill FCEVs at home, extending their range and offering greater convenience.
The hydrogen canisters could be provided as part of a home delivery service and are light enough to be carried by a person, but plenty of practical and safety-related issues remain to be addressed.
Hydrogen fuel-cell cars might promise the best of both worlds: Avoiding emissions and avoiding spending hours recharging a battery. But this bargain comes with a heavy price when it comes to practicality, as hydrogen stations are a little hard to find in most countries, and hydrogen doesn't flow into your home from a special faucet.
But what if the hydrogen could, in fact, come to you?
That's what Toyota is working on at the moment, having revealed a prototype hydrogen canister that is small enough to be carried by a person, including in a special backpack.
"The technology Toyota has cultivated in the development of FCEVs is used to reduce the size and weight of hydrogen tanks, which were previously large and difficult to carry, to a size that can be carried by hand," the automaker said. "They are designed to make hydrogen a familiar and safe energy source that can be used in a variety of everyday situations."
However, Toyota hasn't indicated just where one would be able to procure these cylinders to fill up your car at home, or how many it would take to fill up something like a Mirai. There are also some safety considerations to take into account, as hydrogen in FCEVs is stored under some unique requirements that make its transportation expensive.
"The hydrogen that powers the Mirai is stored at a high pressure of 700 bar in two compact, lightweight tanks," the automaker notes. "We have been working on their design in-house since 2000 and are more than satisfied with their strength and safety levels."
portable hydrogen canisters
Toyota
The portable canisters would allow FCEV owners to fill up their cars at home, at least after the canisters are somehow delivered to the home.
Similar safety considerations have gone into the engineering of the portable canisters, but the volumes the two types of tanks can hold are expected to be different.
One thing is clear: Such cylinders could readily solve the issue of running out of hydrogen at home or in the middle of nowhere, allowing one to avoid the Tow Truck of Shame.
A few of these could be brought on a longer trip to boost an FCEV's range, at least in a universe where the transportation of certain hazardous materials is not regulated.
The hydrogen has to be produced somewhere and also safely delivered to your home.
But the idea of buying refillable hydrogen gas cylinders for your car, like propane tanks for a grill, perhaps makes owning an EV look like a much easier overall experience.
Hydrogen fuel-cell vehicles are, at their core, also EVs. Bringing hydrogen gas cylinders to your house, perhaps by driving the same FCEV or another car, seems like missing the point of the wide and easy availability of electricity.
Then there's still the issue of the so-called carbon footprint of hydrogen production and delivery.
toyota really believes hydrogen is the future, despite where almost every other carmaker is headed
Toyota Doubles Down on Hydrogen With a New Mirai
The hydrogen has to be produced somewhere and also safely delivered to your home, making this operation analogous to a gasoline delivery service, raising issues of price.
A number of automakers, including BMW, are still keen on making hydrogen happen as a ZEV power source, even as they work on boosting their EV lineups. So Toyota is hardly alone in this field, even if scale remains elusive for infrastructure reasons.
Time will tell if Toyota will be able to make portable hydrogen cartridges a commonplace item, but it's clear the automaker isn't giving up on the idea of FCEVs, even if the hydrogen infrastructure hasn't made quite as much progress over the past decade as expected.
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