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BMW Wants to Hitch a Hydrogen Ride at Future Truck Stations
- Carmaker plans rollout of small fuel-cell test fleet
- Hydrogen cars will be an option for some 30% of customers: CEO
February 5, 2023
https://www.bloomberg.com/news/articles/2023-02-05/bmw-wants-to-hitch-a-hydrogen-ride-at-future-truck-stations
Notable quotes:
“The key is to build combined hydrogen gas stations for passenger cars and trucks,“ Jürgen Guldner, who leads BMW’s hydrogen technology program, said in an interview. “It’s much easier to set up hydrogen stations for larger truck fleets as logistics operators already show interest in this.”
Volvo AB, which formed a venture with Daimler Truck Holding AG in 2021 to lower the cost of hydrogen trucks, said carmakers joining in on hydrogen infrastructure would help speed its rollout. The world’s two biggest truckmakers plant to start making hydrogen fuel cells from 2025.
“The more we are who can unite around this network, the faster it will happen,” Volvo CEO Martin Lundstedt said. “It will probably be similar to what we see in the case of diesel. There you have coordination and piggy-backing even if there are specific pumps and such.”
Link to a very interesting PowerPoint presentation on General Motors' Hydrotec Fuel Cells Technology. https://www.energy.gov/sites/default/files/2022-03/H2-PACE-gm-6.pdf
Electric semi-trucks are ready to be deployed, but there aren't near enough plugs to charge them
Bianca Giacobone, Feb 4, 2023
https://www.businessinsider.com/electric-trucks-charging-infrastructure-trucking-manufacturer-daimler-ecascadia-2023-2
Lack of charging infrastructure is slowing down the deployment of electric semi-trucks, according to Daimler Truck North America president and CEO John O’Leary.
- Truck manufacturer Daimler has a production capacity of around 2000 electric semi-trucks per year.
- It has only deployed around 100 of them.
- Lack of charging infrastructure is slowing down adoption across the industry.
MM77, Sanjay recently mentioned that due to the three months delay from the drop in natural gas prices to when Plug Power starts to see the benefits, the huge recent drop in natural gas prices will not be rflected in the upcoming quarterly numbers. Like you, being an eternal optimist, I am still hoping for better than expected numbers. If not, and the share price sinks, looking at the glass as half full, I would consider it as a buying opportunity.
Thanks uk....would be nice to see the upcoming quarterly not as bad as advertised...in any event need to underpromise and overdelivered senerio otherwise the stock price will continue to feel pressure on the downside.
A smart move by Amazon, cannot wait for the bulk green hydrogen so install Bloom FCs which can easily convert to run on hydrogen when available (and economic - given current Nat gas price that is a few more years away).
At least PLUG has the volume supply agreement wh Amazon and now we know why the huge daily amount they want. I suspect we are already permitting land for a manufacturing hub in the north west
'EU taxpayer money for European benefit’ – European electrolyser manufacturers call for more support
By Charlie Currie
on Feb 01, 2023
https://www.h2-view.com/story/eu-taxpayer-money-for-european-benefit-european-electrolyser-manufacturers-call-for-more-support/
Notable quotes:
In a letter to the EC President and Executive Vice-President, a group of European electrolyser manufacturers have made a call for more support to develop a “sustainable European value chain for renewable hydrogen” adapted to the needs and expectations of the current global competitive and geopolitical landscape.
The letter cites the US Inflation Reduction Act which it says, “heralds a paradigm shift in global trade and hydrogen production.” The group added, “The stipulation on ‘buy American’ in the IRA, coupled with China’s known policies to promote state entities, squeezes European manufacturers from both ends.”
A recent Bloomberg study highlighted that based on current policies and trends, China would be the market dominant player for electrolyser manufacturing by 2025.
The group has said that EU funding mechanisms should:
- Be designed according to the state of the market, implying at the current stage a fixed premium model per kg of green H2 with no auctions for an initial period to ensure the development of the sector and a level playing field;
- Support the development of a renewable hydrogen value chain “made in Europe”;
- Support the creation of European jobs in clean tech manufacturing and a just transition;
- Support European research and development, thus promoting European centres of excellence.
Additionally, it has called on the European Commission to consider requirements specifically supporting ESG and European standards when developing future funding tools and pre-qualification criteria such as:
- Projects should show significant contribution to European values and sustainability in form of specific ESG requirements;
- Projects should show significant contribution to job creation and centres of excellence; similar to requirements outlined in IPCEI;
- Projects should include certain sustainability requirements such as recycling obligations and CO2 footprint of electrolyser manufacturing facilities.
The group said, “Now more than ever, we need to maintain European technological leadership in electrolysers to ensure energy security and industrial competitiveness. We must learn from previous lessons such as the case of the solar industry.”
Under the REPowerEU plan, the EC also set the target to import 10 million tonnes of renewable hydrogen per year by 2030. A recent report by Aurora Energy Research concluded that importing renewable hydrogen from Australia, Chile, and Morocco couple compete with European domestic production by 2030.
Green hydrogen not available in mass...gotta get those green hydrogen plants up and running Andy....take your Geritol!!
Amazon fuel cells would use natural gas to power Oregon data centers, increasing carbon footprint
Published: Feb. 04, 2023
https://www.oregonlive.com/silicon-forest/2023/02/amazon-fuel-cells-would-use-natural-gas-to-power-oregon-data-centers-increasing-carbon-footprint.html
Notable quotes:
Amazon wants to power at least three of its Oregon data centers — and perhaps as many as seven — with natural gas fuel cells that regulators say would contribute even more to climate change than the grid electricity Amazon has been using.
The tech giant’s fuel cells would emit the equivalent of 250,000 tons of carbon dioxide annually, according to the Oregon Department of Environmental Quality. That means three Amazon data centers would generate a quarter of the carbon impact of the entire gas-fired power plant Portland General Electric operates nearby.
Oregon is home to a large cluster of data centers operated by many of the nation’s largest tech companies. They’re attracted by relatively cheap electricity, water, big parcels of rural land and huge tax breaks
... Amazon hopes to install the fuel cells at three data centers by August, potentially adding fuel cells at four more sites nearby in the future.
The records show Amazon fuel cells would come from a California company, Bloom Energy, which says in its filings they would provide reliable power without locking Amazon into long-term commitments.
The records describe Amazon’s fuel cell installations as 24.3 megawatts apiece. That’s just below a 25-megawatt limit on new, natural gas electrical plants the Oregon Legislature adopted in a landmark climate bill passed in 2021.
Bloom says its fuel cells are “essentially feedstock neutral,” so they could be adapted to use cleaner fuels such as renewable natural gas or hydrogen, which could reduce their climate impact.
While Amazon’s statement about its Oregon fuel cells describes a “pathway for less carbon intensive solutions,” its filings with the state do not include a plan to move to hydrogen. And if it ever does move to a cleaner fuel, it doesn’t appear it will be soon.
Amazon would build three connectors, each a little more than a mile, to link its data centers to spurs off the main GTN pipeline. That up-front investment suggests Amazon expects to use those gas pipelines for an extended period.
The owners of the GTN pipeline, which carries natural gas from Canada obtained by fracking, is seeking to expand its capacity to transport more gas. Last summer, attorneys general in Oregon, Washington and California sought to block that expansion, citing global warming concerns.
European Commission plans to subsidise green hydrogen production
By Charlie Currie
on Feb 02, 2023
https://www.h2-view.com/story/european-commission-plans-to-subsidise-green-hydrogen-production/
A message from Dr. David Wenger, Founder and CEO of Mission Hydrogen GmbH.
Dear all,
Last October, I “celebrated” my 18th anniversary in hydrogen storage. I have seen many innovations come – and go. People who had invented magic materials and systems to store hydrogen had been part of my journey wherever I was. In reality, only a few have been successful.
The question is: why? Is the problem so challenging? Did people not try hard enough? Do politicians not invest enough funding?
The correct answer is: hydrogen storage is extremely challenging. Take gaseous storage: the pressure is very high – up to 700 bar (10,000 psi). Lots of companies and research institutions have tried to build “conformable” tanks – none of them has been near commercialization. The “good old” cylindrical gas vessel is still the state of the art. Innovations have been Type IV vessels that use HDPE or PA liners, wrapped by a carbon fiber-resin matrix. This solution is lightweight but pretty expensive.
Two rather unknown disadvantages of current high-pressure tanks are:
1. Hard to develop: The production process of high-pressure tanks is a so-called “wet winding” process. The carbon fiber is immersed in resin and wrapped around the liner. This process is pretty difficult to engineer and to control, which makes it very expensive and complex to develop and scale. Or to put it in the words of e.g. automotive quality control engineers: “This is not a process, this is a nightmare.”
2. Recycling: The material used for 99.9% of the tanks today is epoxy resin. The main disadvantage is its poor recyclability (“poor” in this case means “not at all”). So if we look into the future and expect millions of hydrogen-powered cars, we’ll have millions of tanks that will not be recycled at the end of their lifetime. (No, that’s not good.)
What can we do?
The good news is that there are alternatives. They are not state-of-the-art yet, mainly because of cost issues. However, I believe this can be fixed.
The solution would be thermoplastic resins instead of epoxy resins. These resins could then be used to produce so-called towpregs – carbon fibres impregnated with resin in the fiber factory instead of the tank factory. This would simplify the process, reduce the parameters involved in the tank production, improve controllability and eventually reduce the cost. And since the resin is easier to recycle, the environmental benefits would come on top.
Here’s what I suggest if you want to learn more:
AFPT is a manufacturer of winding machines to produce such tanks. So the answer is: the process is real, and it’s going to happen. Maybe not today, but tomorrow. AFPT is working on it with different partners, and as soon as the industry starts to scale up, we will see thermoplastic tanks. And AFPT currently has the only industrial solution for the production of thermoplastic containers. Please contact coert.kok@afpt.de. He will share more information with you.
If you want to learn even more on the subject: Join the largest interactive hydrogen workshop, Hydrogen Online Workshop on March 23 with thousands of hydrogen pioneers live for free: www.hydrogen-online-workshop.com. Please forward the link to your friends, colleagues and LinkedIn followers.
David
Dr. David Wenger
Founder and CEO, Mission Hydrogen GmbH
Hydrogen in heavy duty mobility news.
Air Liquide and TotalEnergies join forces to develop a network of over 100 H2 stations
02 Feb 2023
https://h2-tech.com/news/2023/02-2023/air-liquide-and-totalenergies-join-forces-to-develop-a-network-of-over-100-h-sub-2-sub-stations/
Air Liquide and TotalEnergies announce their decision to create an equally owned joint venture to develop a network of H2 stations, geared towards heavy-duty vehicles on major European road corridors. This initiative will help facilitate access to H2, enabling the development of its use for goods transportation and further strengthening the H2 sector.
The partners aim to deploy more than 100 H2 stations on major European roads—in France, Benelux and Germany—in the coming years. These stations, under the TotalEnergies brand, will be located on major strategic corridors.
This agreement will lead to the creation of a major player in H2 refueling solutions and contribute to the decarbonization of road transportation in Europe. The two companies will combine their know-how and expertise in infrastructure, H2 distribution and mobility:
- Air Liquide will contribute with its expertise in technologies and its mastery of the entire H2 value chain,
TotalEnergies will bring its expertise in the operation and management of stations networks and the distribution of energies to BtoB customers.
- The joint venture, which will be jointly managed by Air Liquide and TotalEnergies, will invest, build and operate these stations, as well as procure H2 from the market and dispense it to its transport customers.
Matthieu Giard, Vice President and Executive Committee Member of the Air Liquide Group, supervising the H2 activities, said, "H2 offers clear benefits for heavy duty mobility. To promote its widespread use, it is imperative to accelerate the development of refueling infrastructures and to offer vehicle manufacturers and transport operators a sufficiently dense network of stations. It is precisely the ambition of this joint venture, which will benefit from the complementary expertise of Air Liquide and TotalEnergies. As a leader for over 60 years and with unique know-how and technologies, Air Liquide is a major player to accelerate and scale up the development of H2, a key element for the emergence of a low-carbon society."
Thierry Pflimlin, President Marketing & Services de TotalEnergies, said, "Following the recent signature of a partnership for the production of renewable and low-carbon H2 on our Grandpuits Zero Crude Platform, we are pleased to once again join forces with Air Liquide and continue our common efforts to decarbonize mobility. As pioneers in H2 mobility, we are convinced of the necessity to start building now a heavy-duty network that will benefit our customers. This new partnership with Air Liquide will enable us to continue our development across the entire H2 value chain."
The two partners plan to establish their joint venture in 2023, subject to the finalization of the appropriate contractual documentation and to the receipt of the necessary regulatory approvals.
The IRA includes a hydrogen production tax credit of a maximum $3 per kilogram if hydrogen is produced without releasing any carbon emissions. Experts say the tax credit makes nuclear hydrogen highly competitive with fossil fuel produced hydrogen, as companies can look to make clean hydrogen without losing any money. The U.S. Department of Energy has a goal to eventually reduce the cost of clean hydrogen to $1 per kilogram in a decade. Right now, it can cost $5 per kilogram to produce with renewable energy.
Fuel-cell manufacturer Plug Power has been in the clean energy industry for decades, but its focus is increasingly on hydrogen production. The company is rated as overweight on FactSet with a target price of $26.80, which suggests shares could gain as much as 74% from Thursday’s close. The stock is up 22% this month.
Wonder why it dropped in the afternoon. Bloom did as well
Today, big volume UP and big volume DOWN.
Looking at the chart, PLUG was once over $70.
Andy Marsh has been traveling the globe working on joint ventures. He did get a major concession from the globalists in Washington DC which will pay off later this year maybe.
Latest Hydrogen Podcast.
Posted 8 hrs ago.
We are so manipulated! hit $18.88 and up over 6% while the Naz is still way up. No news and we fall off the cliff. Andy needs to have the stock trading investigated.
Last time we hit 30ish golden cross formed obviously to downside
...lets just not run down to the low teens
UK, thank you for the chart analysis. Very specific and informative.
so some basic chart analysis shows that at current price ($18.48) we have completed the head and shoulders (inverted) and a cup and handle formation , we are touching on the 200 DMA (19.01) .
a pause here would be normal but if we go through strong later today/tomorrow the $20 resistance is pretty strong. Then we are looking at $26 and $30 resistances. The last $20-30 run took three weeks. in which time we will be getting the annual results...
PLUG has another dollar or two before reaching my average purchase price. Volume is heavy this morning which helps, but must remember that Andy Marsh is still steering the ship.
Andy's opening comments on the CC did not give confidence as "Paul is still working on the numbers." Andy Marsh has no idea on the numbers which is not good.
Also, Federal Reserve not finished yet. Keep some cash for the inevitable recession. There will be a better buying opportunity for PLUG investors.
Let's keep a level head and remember the last time we ran to $18 and then retraced. I hope this time is different, but nothing would surprise me. We have Amazon earnings tonight, on 2\9 we have Bloom and then even though we preannounced things would not be as good we have no idea just how bad the loss will be in March so we could go down then.
Well, that should help, especially with our new partner J Matthey and others like Hyvia, and Acciona etc.
PLUG is up over 40% YTD so not sure we’re seeing the rally fade. I think we have much more upside. Glad I’m not short PLUG
PLUG’s at 18.04 pre market. Shorts must not be happy. Up 40% plus YTD. We should be at 30 pretty soon. Few more big announcements and boom. Glad I’m not short this stock
Nice find. Glad I’m long PLUG
New Pininfarina with Swappable Hydrogen Bottles Which Threaten Tesla’s Electric Vehicles are Set for Production
February 1, 2023
https://hydrogen-central.com/new-pininfarina-swappable-hydrogen-bottles-which-threaten-teslas-electric-vehicles-are-set-for-production/
Key quotes from the article:
Musk said hydrogen-powered vehicles are “mind-bogglingly stupid,” — but a 2017 survey of 1,000 auto executives conducted by KPMG (Klynveld Peat Marwick Goerdeler) told a different story, CNBC reports.
KPMG’s survey had 78 percent say that hydrogen fuel cells have a better long-term future than electric vehicles (EVs) and will act as the real automotive breakthrough.
The executives cited hydrogen-powered models’ short refueling time of a few minutes as a significant advantage over EVs.
Would not want to be short PLUG Power.
Morgan Stanley reiterates Plug Power as overweight
The firm said it likes Plug’s “winning” green hydrogen strategy.
$18 competes an inverted head and shoulders from October , so if it runs above then at least $30 is on the cards.
That’s if you believe charts
I’m only going to talk about PLUG. Up so so much YTD. Would hate to be short this stock based on what it’s done so far this year. I see us running to 50
Since some of you track my positions,
I have a straddle in place through earnings. I have already had a long term position with JM, so a straddle on PLUG seemed logical in case PLUG does another run.
Hopefully if it does run, it will take JM along.
I am impressed with how JM is positioning to capture some US taxpayer money.
Based on the futures, I think PLUG goes up another buck. So glad I’m not short on this winner
I don’t think that’s the case. I think PLUG has plenty of cash
Could you share a reading or 2
Based on what I have been reading, it looks like PLUG has already tapped into those funds to build green hydrogen and production facilities.
Based on what I’ve been reading, I believe that they , PLUG, won’t need to touch the money.
That only works if they don't touch any of the $3 Billion. Doubtful
With 3 billion in cash at 4.5 % should give plug another 145 million in cash flow this year
And an even better deal for Johnson Matthey. They are a UK company now able to tap into the US Tax Credits, and PLUG carries all of the upfront risk.
I am very happy for buying more JMAT stock months ago.
What a great partnership for PLUG. I’m very happy and will be happier when the stock hits 50 by year end
Plug is UP another 1% after hour. Way to go Andy
PLUG is up 43% YTD that’s some serious growth on the PPS. I’m happy I never shorted. Was a good call on my part. Keep going PLUG.
This more great news. Thanks for sharing. PLUG is going up and I’m glad I bought shares
Europe unveils $270 billion response to US green subsidies
By Hanna Ziady, CNN
Updated 9:47 AM EST, Wed February 01, 2023
https://www.cnn.com/2023/02/01/business/europe-green-deal-industrial-plan/index.html
London(CNN)Stung by the Biden administration's huge green subsidy program, the European Union unveiled plans for its own "Green Deal" Wednesday to cut red tape and deliver tax breaks.
The Green Deal Industrial Plan will "enhance the competitiveness of Europe's net-zero industry" by simplifying regulation, speeding up access to finance, enhancing skills and building "resilient" supply chains through new trade deals, the European Commission said in a statement.
The proposals, which will be debated by EU leaders next week, would make €250 billion ($272 billion) available from existing EU funds for the greening of industry, including offering tax breaks to businesses investing in net-zero technologies.
In a document detailing its new green industry plan, the European Commission also fingered China, saying it has provided green subsidies at a level twice as high as those in the European Union, relative to GDP. "Europe and its partners must do more to combat the effect of such unfair subsidies and prolonged market distortion," it added.
The EU green plan proposes a loosening of state aid rules that would allow member states to match the aid offered by a third country for initial investments into "targeted" sectors relevant to the net-zero transition.
It also makes provision for a European Sovereignty Fund to ensure Europe has an edge on "critical and emerging technologies" such as microelectronics and artificial intelligence.
Also proposed in the plan is the Net Zero Industry Act, which would speed up the issuance of permits for green projects, and the Critical Raw Materials Act, which would aim to secure the EU supply of rare earth minerals vital to developing net-zero technologies.
EU Mulls Easing Tax Credit Curbs in Response to US Subsidies: FT
BY LEONARD KEHNSCHERPER
Jan. 30, 2023
https://news.bloombergtax.com/daily-tax-report-international/eu-mulls-easing-tax-credit-curbs-in-response-to-us-subsidies-ft
The European Union is planning to relax restrictions on states handing out tax credits to firms that are increasing green investments, Financial Times reports, citing a European Commission draft it has seen.
The measure is part of a broader response from the EU to the United States’ Inflation Reduction Act
I sold at the top and bought the bottom. LOL. Doesn’t everyone. PLUG has been a great investment YTD and has just annihilated shorts. Love it
PLUG is responsible for building the factory JM will supply the equipment
expansion to 10 GW of CCM/MEA a year but 5GW initially (matches there current UK facility. I think PLUGs Rochester makes 1GW of MEA a year using the CCM they get from JM.
On this scale PLUG has to be building a new electrolyser factory.
I did not, I did sell on the way up to buy a car.
but held everything on the way down (across the board even my non EV/ESG stocks like SHOP TTD etc)
Learned a lot and still up significantly though. LIke WTM the Andy selling was a definite flag to lighten up.
I like Cummins to add to your list of traditional stocks. JM probably doesn't get the attention it deserves as it is a UK stock.
waiting for some inheritance money so just buying a few calls here and there.
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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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