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I would not be surprised if they end up buying us out at some point. Hopefully, at $100+ down the road.
What’s your guess on how low we go ? Back to 12 or 15 ??
they have their symposium in October typically announcements will be there or in the days before.
There has been plenty of news recently. But we do need more on the Fuel cell business - with pedestal companies and a mobility partner for larger trucks expected.
In this market though announcements are not really useful - we are back down to a SP before the Amazon green hydrogen contract was announced for example. I would hold them until we have to announce or at the Symposium when the market and industry will be listening
All I see is PLUG working diligently with their chosen partners and on chosen projects. The opportunities are plentiful so you will see others get contracts for electrolysers especially) but we are actually shipping to our customers and for internal use. I would rather be generating revenues directly than talking about projects with delivery in 2024.
Seems like there have been no new announcements. They have gone very quite. I would think they have a bunch of new contracts to announce
PLUG CEO compensation is based on share price so he is not doing well.
Those who understand the market (see prior post video) should not be worried and make use of these prices. If Nat gas weren't so high our current financials would be ok, but they are also driving the speedier adoption of green hydrogen and hence electrolyser sales for delivery in 2023 and 2024 have probably already booked current manufacturing capacity.
Is this why the stock just keeps dropping ? PLUG CEO is doing well. Shareholders, not so much.
Why Hydrogen Stocks Will Make Investors EXTREMELY Rich
Posted Sep 27, 2022
Visceral Ace
In this video, I discuss the $11 trillion green hydrogen and fuel cell opportunity, where NextEra is now betting on hydrogen.
Steve - I can't wait to hear how huge the GSE market is for PLUG.
It will just be a short high and then reality will set back in. This economy is in a pickle. If they want inflation down, they have to continue to raise rates and kill the market and growth stocks like ours with no profits yet. The best thing Andy could do is cease all these stock options until we are profitable. Put becoming profitable as the #1 goal. Stop any dilution of the shareholders and stock. With the market down now this could be a prime time to pick up any technology that could make us more competitive and would be accretive. Continue the use of joint ventures that would expand the use of FC's and green H2 and use government funds as much as possible.
So, what does everyone want to hear during the Symposium?
Soon time for Andy Marsh to appear on Jim Cramer's show. Just a little hype could hlep push PLUG back to $30 during the Symposium.
Plug does less than 10% of it’s business in Europe so there won’t be much impact on earnings for several months at the earliest. Also, there may be exchange rate clauses in contracts that Plug has signed for it’s European customers that would negate any currency fluctuations.
As I have stated before, the natural gas price on the first of each month is what dictates the price Plug pays for gray hydrogen for the entire month so the daily price has no impact. The past 3 months have the highest average natural gas price Plug has experienced in their history. As we all know, the solution to stop the losses from purchasing grey hydrogen is for Plug to produce more of their own hydrogen. Plug is producing approximately 12.5 TPD and they are using approximately 50 TPD. If Plug is successful in their goal of producing 70 TPD by the end of 2022, the losses on hydrogen will be very close to disappearing. As soon as the WNY Stamp site is producing at full capacity the H2 business will be profitable.
With the Euro down to .95 this is not be helping our earnings. I hope the recent decline in Nat Gas will offset this somewhat. The lack of profits is not helping even when the Nasdaq is positive. My position is so far down now it is sickening.
Chris, thank you for the info. For those interested, the interview starts at minute 5:55 and the reference to Andy Marsh is in response to a question posed at minute 24:45 into the video
.WATCH: @alneuhauser hosts a conversation on long-term capital formation in climate tech following the enactment of the Inflation Reduction Act, feat. @ENERGY Loans Program Office director @JigarShahDC. https://t.co/WqmuyFovg9
— Axios (@axios) September 27, 2022
Jigar Shah, from the DoE Loan Office Program, gives examples of “leaders that can attract capital and have the technological sophistication to bring things to market,”
Plug CEO Andy Marsh is a “leader that can attract capital and have the technological sophistication to bring things to market," @JigarShahDC. We agree 😉 #greenhydrogenatwork https://t.co/UFGQ0mTHkA
— Plug Power Inc. (@PlugPowerInc) September 28, 2022
WATCH: @alneuhauser hosts a conversation on long-term capital formation in climate tech following the enactment of the Inflation Reduction Act, feat. @ENERGY Loans Program Office director @JigarShahDC. https://t.co/WqmuyFovg9
— Axios (@axios) September 27, 2022
I personally don’t think Andy would sell even if he was offered $1,000 per share for the company. He knows where this thing is going.
I hope you become a millionaire several times over.
Chrisp C.
Chris, I'd be a millionaire. What about the shorts?
It’s very unlikely Plug would be acquired. They have an extremely large shelf offering that would prevent it. I was in the room when someone asked Andy Marsh about about a possible sale and he said he would think about it for $1,000 per share. He was dead serious.
Any chance someone acquires plug? Thoughts on who and how much?
Some unique perspectives of the IRA from industry insiders. https://www.utilitydive.com/news/ira-subsidies-green-hydrogen/632599/?fbclid=IwAR1C1P1_G241YNiMLHmTd7IBxcozcNYXnpWwQSNo0mAzIrVZCZqd9UBwD5U
The Airbus presentation is now available.
https://www.airbus.com/en/capital-market-day-2022
Sabine Klauke’s comments on hydrogen begin at 2 hr 18 min and her response to 2 questions about hydrogen are at 2 hr 30 min.
On page 13 of the presentation slides you will see that Plug Power is a hydrogen infrastructure partner.
Chrisp C.
I thought California was ahead of the curve.
What if the natural gas is 50% hydrogen mixed in?
Adding the extra electricity capacity need to comply with this is going to cause more pollution than they clear.
They need to be expressing renewable energy projects - heard wind farms and solar farms are very hard to get permitted - first. Why isn't their water canal covered in solar panels - that was identified years ago yet they havent started....
Agree with the diesel engine phase out but inside the home appliances has to be addressed by the fuel source.
Many concepts to consider:
While the PLUG Institutional Ownership is high it is also relatively flat since the early 2021 spike and drop in stock price. A good sign that Institutions maintain ownership.
Europe is suffering worse than the US and PLUG is selling more electrolyzers.
The emphasis on green hydrogen has Warren Buffett taking a contrarian position as Berkshire Hathaway received FERC approval to buy up to 50% of Occidental Petroleum stock. Fossil fuels are necessary to make a smooth transition to "clean energy."
The 2022 and 2024 elections have real bearing on a PLUG future stock price vis-a-vis oil. Climate change may not be a political factor.
The Annual Report has several pages of Risk Factors which are generic to all companies; one being intensive competition.
California moves to ban natural gas furnaces and heaters by 2030
BY ANGEL ADEGBESAN
BLOOMBERG SEPT. 23, 2022
https://www.latimes.com/business/story/2022-09-23/california-moves-to-ban-natural-gas-furnaces-and-heaters-by-2030
California is committing to a plan that will make it the first U.S. state to phase out gas-fueled furnaces and water heaters in homes, a move environmentalists are betting will provide a template for other states.
The Golden State will ban the sale of all new natural gas-fired space heaters and water-heating appliances by 2030, under a proposal unanimously approved by the California Air Resources Board on Thursday.
“We need to take every action we can to deliver on our commitments to protect public health from the adverse impacts of air pollution, and this strategy identifies how we can do just that,” board Chair Liane Randolph said. “While this strategy will clean the air for all Californians, it will also lead to reduced emissions in the many low-income and disadvantaged communities that experience greater levels of persistent air pollution.
“But to truly meet the ozone standard, California needs more federal action to clean up harmful diesel pollution from primarily federally controlled sources, from locomotives and ocean-going vessels to aircraft, which are all concentrated in communities that continue to bear the brunt of poor air quality. We simply cannot provide clean air to Californians without the federal government doing its part,” Randolph said.
The vote Thursday wasn’t the final say on the matter. Rather, it directed state agencies to draft a rule for phasing out gas-fueled appliances that will be up for a final vote in 2025.
“We’re really hopeful that this is the beginning of a domino effect and other states will follow California’s lead,” said Leah Louis-Prescott, a senior associate at RMI , a nonprofit focused on the transition to clean energy.
The proposal is part of a road map of commitments that the state is pursuing to shrink its carbon footprint and comply with federal air-quality standards. That far-reaching plan contains measures that would allow the state to transition away from burning gas and reduce emissions that cause air pollution and contribute to smog.
Because California still gets about 40% of its power from fossil fuels, the transition won’t eliminate carbon emissions. The state is targeting a carbon-free grid by 2045.
The proposal does not include gas stoves, but about 50 cities and towns in California, including Los Angeles and San Francisco, have adopted regulations that ban or discourage the use of gas-fueled stoves in new buildings.
The Los Angeles City Council voted in May to ban most gas appliances in new construction, a policy that’s expected to result in new homes and businesses coming equipped with electric stoves, clothes dryers, water heaters and furnaces. The motion left the details to city agencies, directing them to draft a regulation and bring it back to the council for approval by the end of 2022.
More than 20 countries agree to boost low-emission hydrogen output by 2030
CONTRIBUTOR Yuka Obayashi Reuters
PUBLISHED SEP 26, 2022 04:41AM EDT
https://www.nasdaq.com/articles/more-than-20-countries-agree-to-boost-low-emission-hydrogen-output-by-2030
TOKYO, Sept 26 (Reuters) - More than 20 countries, led by Japan, have agreed to boost output of low-emission hydrogen to at least 90 million tonnes a year by 2030 from 1 million tonnes now, the Japanese industry ministry said on Monday.
The agreement between countries including the United States, Australia and Germany came at the Hydrogen Energy Ministerial Meeting in Tokyo.
Many countries, including resource-poor Japan, are facing a historic energy security risk following Moscow's invasion of Ukraine, with the threat of gas supply disruptions at a time when global supply is tight and spot prices are sky-high.
"We believe strategically increasing the sustainable production and use of low carbon and renewable hydrogen can contribute significantly to ensuring energy security, resilience and climate goals," Tokyo said, without giving details of how the output goal could be reached other than to note the need for more countries and regions to take concrete measures to increase sustainable hydrogen production.
Hydrogen is seen as the future green fuel of choice and key to decarbonising industries that rely on coal, gas and oil - such as steel and chemicals - in turn helping in the fight against global warming. It is also key to Japan's goal to achieve net-zero emissions by 2050.
The global goal of producing 90 million tonnes of blue hydrogen - produced from natural gas but eliminating emissions by capturing and storing the emitted carbon - and green hydrogen - extracted from water using electrolysis powered by renewable energy - a year by 2030 is slightly below the 95 million tonnes that the International Energy Agency (IEA) says is required over the same time frame to help achieve its 2050 net zero scenario.
"Greater policy support is needed to drive new and cleaner uses of (hydrogen) in heavy industry and long-distance transport," the IEA said in a recent report.
Japan aims to boost its annual hydrogen supply, including imports, to 3 million tonnes by 2030 from about 2 million now.
Apparently the replay is not yet available but ere are some points she made.
“The R&D budget is 2 billion this year with several hundred million going toward developing Hydrogen technology
Our big ambition is to bring commercial aircraft based on Hydrogen into market by 2035
We have zero emissions development centers working on CFRP tanks to store Hydrogen
If you really want get to 100% zero emissions, It's all about Hydrogen”
Agree. Just wish I better understood the dynamic around the downward draft. That said, the market tanked pretty hard during that same period. Volume seemed low on the way down as well.
Thanks. Good luck
J, I am not an investor advisor, but in my opinion, it is a great buying opportunity.
I guess the author got the last sentence wrong as plug is down 25% over the past few days. Not much of a boost.
Something seems off with PLUG. From 30 to 22 in a blink of an eye is a problem
Plug Power Institutional Ownership. https://fintel.io/so/us/plug
Here's What Drove Alternative Energy Stocks Like Plug Power Higher Early Monday
CONTRIBUTOR Howard Smith, The Motley Fool
PUBLISHED SEP 26, 2022 03:27PM EDT
https://www.nasdaq.com/articles/heres-what-drove-alternative-energy-stocks-like-plug-power-higher-early-monday
What happened
Many stocks in the alternative energy sector jumped Monday morning. Shares of hydrogen fuel cell company Plug Power (NASDAQ: PLUG) rose as much as 3.6%, while hydrogen-powered vehicle maker Hyzon Motors (NASDAQ: HYZN) soared nearly 15% at its peak. Solar technology company First Solar (NASDAQ: FSLR) was up as much as 2.4%.
While there was a catalyst for those moves, the gains didn't all hold, as technology stocks represented by the Nasdaq Composite Index went from a 1% rise into negative territory. As of 3:10 p.m. ET, Plug stock had also gone negative, down 1.9%. First Solar and Hyzon Motors, however, held on to gains of 0.4% and 7%, respectively.
So what
The initial surge came after a deal was reported for powering the country's first hydrogen-powered train. That was a reminder for investors of the future potential for these and other stocks in the renewable energy sector.
While word that Ballard Power Systems would supply six fuel cell engines to power the first hydrogen train in the U.S. didn't directly impact Plug or Hyzon, it's easy to see why investors associated other hydrogen fuel companies with the news. Last week, Ballard also announced it would be supplying fuel cell modules for a fleet of seven hydrogen passenger trains in Germany. That fleet will be the Berlin and Brandenburg region's first hydrogen-powered rail network.
Now what
Those deals show there is growing momentum for developing more uses for hydrogen as a fuel. Plug Power management has been investing based on that exact premise. The company has been building out a network of green hydrogen production facilities across the United States. It has also announced deals to provide electrolyzers for producing hydrogen in Europe.
Last month, the company said it was expanding its relationship with Amazon to supply the e-commerce giant with liquid green hydrogen to fuel its operations beginning in 2025. Plug has already been supplying Amazon and other companies with fuel cells to power forklifts in warehouse operations. But the new agreement shows Amazon wants to expand the use of hydrogen to help attain its climate goals.
Hyzon makes hydrogen-powered commercial vehicles, so it also has much to gain from a growing hydrogen economy. The company has had issues recently that have hit its stock price. Hyzon had to delay its most recent quarterly report filing after it discovered "operational inefficiencies" at its European joint venture facility. It also subsequently appointed a new CEO.
When investors saw the update on the country's first hydrogen train today, they looked beyond those issues for now, boosting renewable energy company stocks like Plug, Hyzon, and First Solar.
Jack
I thought that was the motto of the department store Korvetts.
We lose money on every sale but make it up in volume.
Toofuzzy
It also seems to move with the Nasdaq and on very low volume when
jammy - PLUG moves on headlines, hype and rumor at the moment.
I am surprised that some of the PR has had little effect. It didn't take long for people to determine some of the recent news was just more nothing burgers and more MULAG/ GSE Hype.
Where do you see the bottom ? Also, in your opinion, what changed as we shot up to 30 and now 22.
jammy - How low is DOWN ? We know losses will be a new record, and that is one source of downward pressure, but what really worries me is missed targets for cheap, green hydrogen.
For years we have been promised cheap, green hydrogen and if it doesn't show up, this will add to the losses and downward pressure.
How much downside do you think is left ? Didn’t Goldman just buy a ton of stock. Don’t the analysts have a pretty good rating in plug
I don’t think it’s a 70 dollar company but why 30 to 22 in a blink of an eye. What’s next 10.
jammy - From $3.00 to $70 made no sense either. But there are those here who still believe that PLUG is a $70 to $100 stock.
This stock seems to have no bottom. What is going on. From 30 to 22 makes no sense
Yes, it is way down, for now at least. Not sure what happens when it gets cold. Europe already preparing. I do worry about the exchange rates with the strong dollar. That could hurt us against European competition and revenue. It might help with my trip to Inverness the end of October and last stop in Amsterdam.
The companies that supply Plug with hydrogen set their price each month based upon the price of natural gas on the first day of each month. Here are the prices for natural gas by month so far this year.
Jan. 3.73
Feb. 4.75
Mar. 4.57
Apr. 5.72
May 7.48
June 8.70
July 5.73
Aug. 8.28
Sept 9.26
The loss for Q3 2022 from supplying hydrogen is going to be big.
Natural gas prices up slightly today, but down 27% over the last month. https://markets.businessinsider.com/commodities/natural-gas-price
James West of Evercore, “Our favorite investment on green hydrogen is PLUG.”
Lights out, ovens off: Europe preps for winter energy crisis
by: DAVID McHUGH, JUSTIN SPIKE, KAREL JANICEK and VESELIN TOSHKOV, Associated Press
Posted: Sep 26, 2022
https://www.wane.com/news/business/ap-business/ap-lights-out-ovens-off-europe-preps-for-winter-energy-crisis/
FRANKFURT, Germany (AP) — As Europe heads into winter in the throes of an energy crisis, offices are getting chillier. Statues and historic buildings are going dark. Bakers who can’t afford to heat their ovens are talking about giving up, while fruit and vegetable growers face letting greenhouses stand idle.
In poorer eastern Europe, people are stocking up on firewood, while in wealthier Germany, the wait for an energy-saving heat pump can take half a year. And businesses don’t know how much more they can cut back.
“We can’t turn off the lights and make our guests sit in the dark,” said Richard Kovacs, business development manager for Hungarian burger chain Zing Burger. The restaurants already run the grills no more than necessary and use motion detectors to turn off lights in storage, with some stores facing a 750% increase in electricity bills since the beginning of the year.
With costs high and energy supplies tight, Europe is rolling out relief programs and plans to shake up electricity and natural gas markets as it prepares for rising energy use this winter. The question is whether it will be enough to avoid government-imposed rationing and rolling blackouts after Russia cut back natural gas needed to heat homes, run factories and generate electricity to a tenth of what it was before invading Ukraine.
Europe’s dependence on Russian energy has turned the war into an energy and economic crisis, with prices rising to record highs in recent months and fluctuating wildly.
In response, governments have worked hard to find new supplies and conserve energy, with gas storage facilities now 86% full ahead of the winter heating season — beating the goal of 80% by November. They have committed to lower gas use by 15%, meaning the Eiffel Tower will plunge into darkness over an hour earlier than normal while shops and buildings shut off lights at night or lower thermostats.
Europe’s ability to get through the winter may ultimately depend on how cold it is and what happens in China. Shutdowns aimed at halting the spread of COVID-19 have idled large parts of China’s economy and meant less competition for scarce energy supplies.
German Chancellor Olaf Scholz said this month that early preparations mean Europe’s biggest economy is “now in a position in which we can go bravely and courageously into this winter, in which our country will withstand this.”
“No one could have said that three, four, five months ago, or at the beginning of this year,” he added.
Even if there is gas this winter, high prices already are pushing people and businesses to use less and forcing some energy-intensive factories like glassmakers to close.
It’s a decision also facing fruit and vegetable growers in the Netherlands who are key to Europe’s winter food supply: shutter greenhouses or take a loss after costs skyrocketed for gas heating and electric light.
Bosch Growers, which grows green peppers and blackberries, has put up extra insulation, idled one greenhouse and experimented with lower temperatures. The cost? Smaller yields, blackberries taking longer to ripen, and potentially operating in the red to maintain customer relationships even at lower volumes.
“We want to stay on the market, not to ruin the reputation that we have developed over the years,” said Wouter van den Bosch, the sixth generation of his family to help run the business. “We are in survival mode.”
Kovacs, grower van den Bosch and bakers like Andreas Schmitt in Frankfurt, Germany, are facing the hard reality that conservation only goes so far.
Schmitt is heating fewer ovens at his 25 Cafe Ernst bakeries, running them longer to spare startup energy, narrowing his pastry selection to ensure ovens run full, and storing less dough to cut refrigeration costs. That might save 5-10% off an energy bill that is set to rise from 300,000 euros per year, to 1.1 million next year.
“It’s not going to shift the world,” he said. The bulk of his costs is “the energy required to get dough to bread, and that is a given quantity of energy.”
Schmitt, head of the local bakers’ guild, said some small bakeries are contemplating giving up. Government help will be key in the short term, he said, while a longer-term solution involves reforming energy markets themselves.
Europe is targeting both, though the spending required may be unsustainable. Nations have allocated 500 billion euros to ease high utility bills since September 2021, according to an analysis from the Bruegel think tank in Brussels, and they are bailing out utilities that can’t afford to buy gas to fulfill their contracts.
Governments have lined up additional gas supply from pipelines running to Norway and Azerbaijan and ramped up their purchase of expensive liquefied natural gas that comes by ship, largely from the U.S.
At the same time, the EU is weighing drastic interventions like taxing energy companies’ windfall profits and revamping electricity markets so natural gas costs play less of a role in determining power prices.
But as countries scramble to replace Russian fossil fuels and even reactivate polluting coal-fired power plants, environmentalists and the EU itself say renewables are the way out long term.
Neighbors in Madrid looking to cut electricity costs and aid the energy transition installed solar panels this month to supply their housing development after years of work.
“I have suddenly reduced my gas consumption by 40%, with very little use of three radiators strategically placed in the house,” neighbor Manuel Ruiz said.
Governments have dismissed Russia as an energy supplier but President Vladimir Putin still has leverage, analysts say. Some Russian gas is still flowing and a hard winter could undermine public support for Ukraine in some countries. There have already been protests in places like Czechia and Belgium.
“The market is very tight and every molecule counts,” said Agata Loskot-Strachota, senior fellow for energy policy at the Center for Eastern Studies in Warsaw. “This is the leverage that Putin still has — that Europe would have to face disappointed or impoverished societies.”
In Bulgaria, the poorest of the EU’s 27 members, surging energy costs are forcing families to cut extra spending ahead of winter to ensure there is enough money to buy food and medicine.
More than a quarter of Bulgaria’s 7 million people can’t afford to heat their home, according to EU statistics office Eurostat, the highest in the 27-nation bloc due to poorly insulated buildings and low incomes. Nearly half of households use firewood in winter as the cheapest and most accessible fuel, but rising demand and galloping inflation have driven prices above last year’s levels.
In the capital, Sofia, where almost half a million households have heating provided by central plants, many sought other options after a 40% price increase was announced.
Grigor Iliev, a 68-year-old retired bookkeeper, and his wife decided to cancel their central heating and buy a combined air conditioner-heating unit for their two-room apartment.
“It’s a costly device, but in the long run, we will recoup our investment,” he said.
Meanwhile, businesses are trying to stay afloat without alienating customers. Klara Aurell, owner of two Prague restaurants, said she’s done all she can to conserve energy.
“We use LED bulbs, we turn the lights off during the day, the heating is only when it gets really cold and we use it only in a limited way,” she said. “We also take measures to save water and use energy-efficient equipment. We can hardly do anything else. The only thing to remain is to increase prices. That’s how it is.”
The gourmet Babushka Artisanal Bakery in an affluent district of Budapest has had to raise prices by 10%. The bakery used less air conditioning despite Hungary’s hottest summer on record and is ensuring the ovens don’t run without bread inside.
While it has enough traffic to stay open for now, further jumps in energy costs could threaten its viability, owner Eszter Roboz said.
“A twofold increase in energy costs still fits into the operation of our business and into our calculations,” she said. “But in the case of a three- to fourfold increase, we will really need to think about whether we can continue this.”
Last link did not work,...
https://splash247.com/floating-wind-powered-offshore-hydrogen-production-unit-set-for-french-debut/
Repeat article from another source,...
https://splash247.com/?p
The US wants to become a hydrogen production powerhouse
Justine Calma - Yesterday 5:07 PM
https://www.msn.com/en-us/news/technology/the-us-wants-to-become-a-hydrogen-production-powerhouse/ar-AA12auTQ
Ramping up production of hydrogen fuel is now a high priority for the Biden administration as it tries to put an end to the fossil fuel pollution causing climate change. The Department of Energy wants to produce 10 million metric tons of “clean” hydrogen by 2030, according to a draft National Clean Hydrogen Strategy and Roadmap released yesterday.
About 10 million metric tons of hydrogen is already produced in the US each year, but that’s mostly “gray” hydrogen made with dirty natural gas. The shift would be to pair that natural gas with controversial technologies that capture carbon dioxide emissions as well as make more hydrogen using renewable energy sources and nuclear energy.
“A high priority technology for this administration”
Clean hydrogen is “a high priority technology for this administration,” Deputy Secretary of Energy David Turk said in a press briefing yesterday. “I will say one word about why that is, and that is versatility.”
Hydrogen is seen as an alternative fuel to fossil fuels. It might be a cleaner fuel for planes or ships, for instance. There’s also hope that using hydrogen as fuel could potentially reduce greenhouse gas emissions from industrial processes that need to reach extremely high temperatures, something that’s harder for renewables like wind and solar to accomplish. When hydrogen is made with excess wind and solar energy, it also serves as a kind of “energy storage,” similar to a battery, so that abundant renewable power doesn’t go to waste when electricity demand is low.
Hydrogen releases water vapor when burned, which is why it’s being sold as a clean fuel. The big caveat is that hydrogen is essentially only as clean as the energy source used to produce it. One way to make hydrogen is through electrolysis, which uses electricity to separate water molecules into hydrogen and oxygen. “Green” hydrogen can be made by splitting water molecules using renewable energy. There’s also “pink” hydrogen, made through electrolysis powered by nuclear energy.
But the majority of hydrogen produced today is “gray” and greenhouse gas-emitting. To make gray hydrogen, methane gas reacts with high-temperature steam under high pressure in a process that releases carbon dioxide while making the hydrogen. Now, the Biden administration wants to rely on technologies that scrub CO2 out of smokestack emissions to try to make that gray hydrogen clean.
That’s a contentious proposition since critics argue it would prolong, rather than phase out, the reign of fossil fuels. And capturing CO2 doesn’t deal with methane leaks, which are a huge problem for natural gas infrastructure. There are also worries that a new hydrogen industry could create its own problems. Citing safety concerns about leaks from hydrogen pipelines and storage facilities, several environmental groups sent a letter to US Secretary of Energy Jennifer Granholm earlier this week that urged the Department of Energy to drop hydrogen projects from the Biden administration’s environmental justice initiatives.
Critics argue it would prolong, rather than phase out, the reign of fossil fuels
Nevertheless, the Biden administration looks poised to push forward with its hydrogen ambitions. The roadmap issued yesterday includes clean hydrogen production goals that grow with time: 20 million metric tons of clean hydrogen by 2040 and 50 million metric tons by 2050. The Department of Energy thinks that could ultimately reduce US greenhouse gas emissions by 10 percent by 2050. The roadmap, however, is still a draft, and the DOE says it’s soliciting feedback before finalizing the strategy.
The Biden administration has already set in motion plans to develop up to 10 regional hubs for hydrogen production across the US. At least one of the hubs should use renewable energy to make hydrogen fuel, the DOE says, and another hub is supposed to harness nuclear energy. But the DOE is also looking for at least two hubs in regions with “abundant natural gas resources.” Yesterday, the DOE opened up $7 billion in funding opportunities to develop those hubs, which the agency says will be “one of the largest investments in DOE history.”
Yahoo Finance: Plug 1MW Electrolyzer Commissioned at World’s First Floating Offshore Green Hydrogen Production Site.
https://finance.yahoo.com/news/plug-1mw-electrolyzer-commissioned-world-110000509.html
The CTO for Airbus has some interesting points about the future of hydrogen in aviation. Sabine Klauke Presentation. https://www.airbus.com/en/capital-market-day-2022
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Page is currently being updated - watch for more information about their recent acquisitions and competitors
Welcome to Plug Power
http://www.plugpower.com/Home.aspx
Plug Power is the leading provider of clean hydrogen and zero-emission fuel cell solutions that are both cost-effective and reliable.
In 2020/21 Plug Power cemented two major partnerships
https://www.plugpower.com/plug-power-and-sk-group-partnership/
https://www.ir.plugpower.com/Press-Releases/Press-Release-Details/2021/Groupe-Renault--Plug-Power-Join-Forces-to-Become-Leader-in-Hydrogen-LCV/default.aspx
The architect of modern hydrogen and fuel cell technology, Plug Power is the innovator that has taken hydrogen and fuel cell technology from concept to commercialization. Plug Power has revolutionized the material handling industry with its full-service GenKey solution, which is designed to increase productivity, lower operating costs and reduce carbon footprints in a reliable, cost-effective way. The Company’s GenKey solution couples together all the necessary elements to power, fuel and serve a customer. With proven hydrogen and fuel cell products, Plug Power replaces lead-acid batteries to power electric industrial vehicles, such as the lift trucks customers use in their distribution centers.
Extending its reach into the on-road electric vehicle market, Plug Power’s ProGen platform of modular fuel cell engines empowers OEMs and system integrators to rapidly adopt hydrogen fuel cell technology. ProGen engines are proven today, with thousands in service, supporting some of the most rugged operations in the world. Plug Power is the partner that customers trust to take their businesses into the future.
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