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Not yet, still 3 weeks left.
B_B - Nope. You have already lost your $10 by June, claim.
Why would I take your bet?
B_B!
Re: Jack_Bolander post# 56273
Monday, April 29, 2024 9:53:35 AM
Post#
56278
of 56395
JB, if Plug is still under $10 by the end of next month (May), I’ll stop posting here.
Let's make a bet 😁
If the Q1 2024 results disappoint and the closing price is negative, I will stop posting starting from Friday May 10, 2024.
But if the closing price tomorrow is positive, you will stop posting starting from Friday May 10, 2024.
Mik - That is NOT TRUE.
I have been playing PLUG from the Short side since the $50's, and the only time I buy PLUG shares is to cover an open position, and not to go long.
I am curious to see what post you are referring to.
And it would be nice if you would retract your erroneous post.
We know earnings will be not so good...I would like to think there there should be some upside potential but on the other hand Andy can't be trusted in my book....delema... still up on my holdings but hind sight is 20 20
Jack You said you were adding at 2.90 a couple weeks aga
I am concerned that tomorrow's earnings will be disappointing ... Again!
It doesn't help PLUG's share price that we still haven't heard about the final 45v rules or the DOE Loan.
B_B - This is called Spamming !
We know you only have a few days left , are you trying to get in a year's worth posts in before you go ?
June can't get here too soon.
The SK Group arm had spent about 700 billion won ($513 million) on the construction between September 2021 and 2023. It consists of three production facilities each with a capacity of producing 30-ton liquefied hydrogen daily, as well as six 20-ton storage facilities.
The plant is capable of producing 30,000-ton liquefied hydrogen annually, the world’s largest and enough to charge 5,000 hydrogen buses.
By Hyung-Kyu Kim 3 HOURS AGO
https://www.kedglobal.com/hydrogen-economy/newsView/ked202405080013
SK E&S's hydrogen liquefaction plant gets rolling
Wednesday May 8, 2024
Tank trailers carry liquefied hydrogen produced at SK E&S’s recently-built hydrogen liquefaction plant in Incheon on Wednesday. The plant is the world’s largest factory and can produce up to 30,000 tons of of the product, which can power around 5,000 hydrogen buses for a year. [SK E&S]
https://koreajoongangdaily.joins.com/news/2024-05-08/business/industry/SK-ESs-hydrogen-liquefaction-plant-gets-rolling/2042554
Bloom is still testing its solid-oxide electrolysers.
16 February 2024
Nearly all of the firm’s revenue to date has come from sales of its fuel cell power generators, which can run on biomethane, natural gas, or hydrogen, while its solid-oxide electrolyser, which operates at a high-temperature in order to produce more hydrogen per kilowatt-hour of electricity input compared to other technologies, is still “in the early stages of commercialization”.
https://www.hydrogeninsight.com/power/us-hydrogen-firm-bloom-energy-posts-209m-loss-for-2023-with-nearly-4bn-deficit-accrued-to-date/2-1-1600018
Plug Power electrolyzers
SK E&S finally begins full-scale operation of ‘world’s largest’ liquefied hydrogen plant
2024.05.08
15 TPD Georgia and 10 TPD Tennessee
April 23, 2024
Fertiglobe ships world’s first ISCC PLUS certified renewable ammonia
2023 November 21
OCI Global, Fertiglobe, the strategic partnership between ADNOC and OCI Global, has completed the first shipment of the world’s first internationally recognized renewable ammonia with ISCC PLUS (International Sustainability and Carbon Certification) certification.
The renewable ammonia was produced at the company’s facilities in Egypt using green hydrogen from the Egypt Green Hydrogen electrolyzer and will go into the production of near-zero emissions synthetic soda ash – a key ingredient in laundry powder – for Unilever.
…..
https://en.portnews.ru/news/356493/
World’s first offshore hydrogen pilot to scale up, passes sea trials
Sealhyfe, Lhyfe's offshore hydrogen pilot, triumphantly returns after meeting all objectives, marking a pivotal step in scaling up green hydrogen production offshore.
Can Emir Published: Nov 24, 2023
https://interestingengineering.com/science/worlds-first-offshore-hydrogen-scaleup
----------
Other electrolyzers
EXCLUSIVE | World's largest green hydrogen project 'has major problems due to its Chinese electrolysers': BNEF
All the electrolysers at Sinopec’s 260MW Kuqa facility in China — made by three prominent manufacturers — have safety issues related to renewable-energy fluctuations, says analyst
Leigh Collins 12 December 2023
…..
The alkaline electrolysers — supplied by three different Chinese manufacturers: Cockerill Jingli (120MW), Longi (80MW) and Peric (60MW) — each have their own technical issues, but all have one common problem related to their flexibility, according to BNEF analyst Xiaoting Wang.
She tells Hydrogen Insight that all three manufacturers promised an operating range of 30-100% of their electrolysis systems’ nameplate yield. In other words, if the amount of renewable energy entering the systems results in the production of less than 30% of its maximum output, the machines will stop releasing hydrogen.
“However, all those electrolysers failed tests at the 30% working point,” said Wang. “The actual working range could be narrower than 50-100%.”
She tells Hydrogen Insight that the problem of is rooted in product design and materials used in the product.
…..
https://www.hydrogeninsight.com/production/exclusive-worlds-largest-green-hydrogen-project-has-major-problems-due-to-its-chinese-electrolysers-bnef/2-1-1566679
EXCLUSIVE | Cummins issues electrolyser recall amid technical issues for 'a small number' of green hydrogen projects
Manufacturer tells Hydrogen Insight the issue is limited to a specific model, without disclosing which series has been affected
Polly Martin 25 August 2023
https://www.hydrogeninsight.com/electrolysers/exclusive-cummins-issues-electrolyser-recall-amid-technical-issues-for-a-small-number-of-green-hydrogen-projects/2-1-1501390
'Unacceptable performance' | ITM unveils new strategy, with staff cuts, exit from hydrogen refuelling — and biggest ever electrolyser order
Leigh Collins and Agnete Klevstrand Updated 31 January 2023
…..
“Most issues today arise from immature engineering processes, which materialise during manufacturing and lead to project delays and cost overruns. As one key priority, we will change the way we engineer our products and control design changes.”
…..
https://www.hydrogeninsight.com/electrolysers/unacceptable-performance-itm-unveils-new-strategy-with-staff-cuts-exit-from-hydrogen-refuelling-and-biggest-ever-electrolyser-order/2-1-1395972
SK E&S finally begins full-scale operation of ‘world’s largest’ liquefied hydrogen plant
bwahahaha 32m
https://stocktwits.com/bwahahaha/message/572124024
SK E&S finally begins full-scale operation of ‘world’s largest’ liquefied hydrogen plant
Signaling the opening of Korea's hydrogen mobility era... Stable supply of 30,000 tons/year
Plans to build 40 liquefied hydrogen charging stations across the country, 20 planned this year
President Choo Hyung-wook "This year is the first year of the liquefied hydrogen era, efforts to create a hydrogen ecosystem."
Reporter name Reporter Joo Byeong-guk 2024.05.08
[Gas News = Reporter Joo Byeong-guk] SK E&S completed construction of the world's largest liquefied hydrogen plant with an annual capacity of 30,000 tons in Incheon, announcing the beginning of the 'hydrogen mobility era'.
As large-scale supply of liquefied hydrogen becomes possible in Korea, the supply of hydrogen buses is expected to accelerate.
SK E&S held the Incheon Liquefied Hydrogen Plant completion ceremony at IGI Co., Ltd. in Wonchang-dong, Seo-gu, Incheon on the 8th. IGI is a subsidiary established by SK E&S in 2021 to promote the liquefied hydrogen business.
At the completion ceremony on this day, Minister of Trade, Industry and Energy Ahn Deok-geun, National Assembly Trade, Industry and Energy Small and Medium Venture Business Committee Chairman Lee Jae-jung, Incheon Metropolitan City Mayor Yoo Jeong-bok, KDB Chairman Kang Seok-hoon, SK CEO Jang Yong-ho, Export-Import Bank President Yoon Hee-sung, IBK Industrial Bank President Kim Seong-tae and Park Gyeong-guk of Korea President of Korea Gas Safety Corporation, Hyeong-wook Choo, CEO of SK E&S, and others attended.
Building the 'world's largest' liquefied hydrogen plant in Incheon
The Incheon liquefied hydrogen plant is a facility that produces liquefied hydrogen by purifying gaseous by-product hydrogen generated within the process of nearby SK Incheon Petrochemical into high-purity hydrogen and then cooling it. It is equipped with three 30-ton-per-day liquefaction facilities and six 20-ton-class storage facilities as its main facilities, and is capable of producing about 30,000 tons of liquefied hydrogen per year, the world's largest on a single plant basis. 30,000 tons of liquefied hydrogen is enough to operate about 5,000 hydrogen buses for one year.
Liquefied hydrogen is hydrogen made in liquid form by cooling hydrogen that exists in gaseous form at room temperature to a cryogenic temperature of -253 degrees Celsius. Compared to gaseous hydrogen, the volume is 1/800th and the transport volume per time is about 10 times that of gaseous hydrogen, making it advantageous for large-capacity storage and transport. It is also highly safe as it can be transported at low pressure. In addition, it has strengths such as fast charging speed and short charging waiting time, so it is called a 'game changer' that will lead the conversion of commercial vehicles such as buses and trucks to hydrogen vehicles. For this reason, the hydrogen industry has matured in overseas countries such as the United States and Japan, focusing on liquefied hydrogen.
The Incheon liquefied hydrogen plant , a result of public-private cooperation in 'vitalizing the hydrogen economy based on liquefied hydrogen,'
is the first visible result of SK E&S's plan to build a hydrogen ecosystem. Since first announcing its plan to build a liquefied hydrogen plant in Incheon at the 3rd Hydrogen Economy Committee chaired by the Prime Minister in March 2021, SK Group has begun work on creating a hydrogen ecosystem centered on SK E&S. At the time, SK Group Chairman Chey Tae-won said, “SK will fulfill its corporate responsibility to realize carbon neutrality by 2050 by taking the lead in creating a hydrogen ecosystem in Korea.”
In the project implementation process, ‘public-private cooperation’ shone. Until now, there had been no cases of use of liquefied hydrogen in Korea, so there were no safety and technical standards within the current law, and 2 to 3 years were needed just to enact new laws. Although delay in the project seemed inevitable, the Ministry of Trade, Industry and Energy supported the project through the 'regulatory sandbox' system that supports the creation of new industries using innovative technologies. The Ministry of Environment also supported the construction of liquefied hydrogen charging stations, which are key infrastructure for distributing liquefied hydrogen, through the 'Private Capital Subsidy Project for Installing Hydrogen Charging Stations'.
Incheon City and Incheon Seo-gu Office also actively cooperated by leading to consultations with relevant ministries on the necessary licensing procedures for timely completion of the Incheon liquefied hydrogen plant. Incheon City, which has promoted the vision of becoming a 'hydrogen leading city' with the completion of the liquefied hydrogen plant, is expected to gain more momentum in the policy of converting city, metropolitan, and charter buses to hydrogen buses in the future.
Establishing a stable hydrogen supply base... With the completion of the Incheon Liquefied Hydrogen Plant , a 'signal' for the spread of hydrogen buses,
large-scale production of liquefied hydrogen becomes possible, and it is expected that issues of instability in hydrogen supply and demand, such as the recent 'hydrogen charging crisis', will be resolved. In addition, it is expected to lay the foundation for Korea to leap forward as a 'leading hydrogen economy'.
SK E&S plans to contribute to creating a full-cycle hydrogen mobility ecosystem by promoting not only large-scale liquefied hydrogen production but also liquefied hydrogen charging projects. To this end, SK E&S is pursuing the construction of about 40 liquefied hydrogen charging stations across the country, centered on its subsidiary 'SK Plug Hyverse'. Liquid hydrogen produced in Incheon will be stably supplied to each consumer through charging stations to be installed across the country, including Busan, Cheongju, and Icheon. The goal is to start operating about 20 liquefied hydrogen charging stations this year.
An official from SK E&S said, “By converting public transportation to hydrogen vehicles, which is the foot of citizens, we will contribute to reducing greenhouse gases in the transportation sector, and at the same time, it will be an opportunity for the ‘era of tangible hydrogen public transportation’ to begin in earnest in people’s daily lives.” .
Three liquefied hydrogen producers sign supply and demand cooperation.
With the completion ceremony on this day, the Korea Petroleum Quality & Distribution Authority, an organization dedicated to hydrogen distribution, and three domestic liquefied hydrogen producers, including IGI, Hyosung Hydrogen, and Hi Changwon, signed a business agreement to establish a liquefied hydrogen supply and demand cooperation system. ' was also signed. They plan to cooperate in future liquefied hydrogen volume exchanges and stock exchanges to ensure that there are no disruptions in the stable supply and demand of liquefied hydrogen.
SK E&S President Choo Hyeong-wook said, “The Incheon Liquid Hydrogen Plant completion ceremony is the first starting point to turn SK E&S’ dream of the hydrogen era into reality, and this year will be remembered as the first year of the ‘liquefied hydrogen era’ that will change the flow of Korea’s energy industry history. “We will strive to contribute to creating a stable hydrogen supply and demand ecosystem by carrying out the plan to operate the Incheon liquefied hydrogen plant and build liquefied hydrogen charging infrastructure without a hitch,” he said.
http://www.gasnews.com/news/articleView.html?idxno=115227
(Google Translate)
US Department of Energy – Hydrogen and Fuel Cell Technologies Office Releases Multi-Year Program Plan
May 7, 2024
US Department of Energy – Hydrogen and Fuel Cell Technologies Office Releases Multi-Year Program Plan.
The U.S. Department of Energy’s (DOE’s) Hydrogen and Fuel Cell Technologies Office (HFTO) today announced the publication of its Multi-Year Program Plan (MYPP), a detailed strategy and planning document that will help guide clean hydrogen innovation and research in the coming years. The MYPP sets forth HFTO’s mission, goals, and strategic approach relative to broader DOE and national clean energy priorities.
The MYPP is aligned with the strategy and goals of the U.S. National Clean Hydrogen Strategy and Roadmap, and reflects the higher-level DOE strategy and goals laid out in the DOE Hydrogen Program Plan. Building off these foundations, the MYPP provides an assessment of the challenges that still must be overcome to realize large-scale adoption of clean hydrogen and a detailed, integrated plan for all RD&D and crosscutting activities conducted by HFTO, which includes:
Assessments of the current state of key metrics (e.g., electrolyzer capital cost).
Technical targets related to each of those key metrics.
Detailed plans for activities to meet those targets.
The MYPP serves as an operational guide and a valuable resource to communicate HFTO’s priorities and RD&D activities to stakeholders and the public. It provides an overview of HFTO’s priority areas—and relevant pathways—for RD&D critical to advancing and de-risking technologies primed to accelerate the emergence of the clean hydrogen economy.
Specific targets outlined in the MYPP include the following examples:
- Clean hydrogen production cost of $2 per kilogram by 2026 and $1 per kilogram by 2031.
- Electrolyzer system cost of $250 per kilowatt (low-temperature electrolyzers) and $500 per kilowatt (high-temperature electrolyzers) by 2026.
- Dispensed hydrogen cost for heavy-duty vehicles of $7 per kilogram by 2028.
- Fuel cell system cost for heavy-duty transportation of $80 per kilowatt by 2030.
https://hydrogen-central.com/us-department-of-energy-hydrogen-and-fuel-cell-technologies-office-releases-multi-year-program-plan/
https://www.energy.gov/eere/fuelcells/hydrogen-and-fuel-cell-technologies-office-multi-year-program-plan?utm_medium=email&utm_source=govdelivery
Mik - Before the Earnings Call or After ?
Bad Earnings
More Loan Delays
More 45 v Delays
And PLUG will be trading below $2.00 by June (2024)
The Trend is still NEGATIVE and there is little downside risk in the near term in waiting.
Thanks UK...I think I may add
HA HA
that is in alphabetical order. no wonder pLUG is 16th and Bloom number 1…
need to see the source of that report.
what pipeline?
what drilling fluids?
PLUG hasnt been active for months in New York STAMP.
but the fish and wildlife ay have pulled aa permit which would add to the reason to stop work.
no wonder they are only talking Texas at the moment (once loan is approved of course).
https://www.blackridgeresearch.com/blog/list-of-global-top-hydrogen-electrolyzer-manufacturers-companies-makers-suppliers-in-the-world We are 16th on the list despite what Andy makes you feel like you are the only one and best and that PEM is the only choice. For PEM- https://www.hydrogennewsletter.com/leading-pem-electrolyzer-manufacturers-for-green-hydrogen/
Of course, China leads and surely the cheapest
Who is building all these electrolizers in other countries ?
If they are not built by Plug , how efficient are they compared to Plug and how do they compare in cost.
Toofuzzy
I don't play with fire 😇
B_B - Have you tried lighting votive candles ?
I have found that lighting candles in church is a sure-fire investment strategy.
B_B - I am counting the days until you leave us for good.
I pray for the stock price to double three times, but my secret wish is five times 🙏
1 time : $3 -> $6
2 times : $6 -> $12
3 times : $12 -> $24
4 times : $24 ->$48
5 times : $48 -> $96
US aims to drastically reduce costs of hydrogen electrolysers within two years
The Hydrogen and Fuel Cell Technologies Office also plans to demonstrate next-generation tech to produce extremely low-cost H2 by 2031
Polly Martin Published 17 minutes ago
The US government’s Hydrogen and Fuel Cell Technologies Office (HFTO) plans to drive the cost of proton exchange membrane (PEM) electrolysers to a quarter of their current cost within two years, according to its latest Multi-Year Program Plan.
The agency, which is the Department of Energy’s office for H2 research, development and deployment with a budget of $301m for this year, targets an uninstalled capital cost of $250/kW for PEM electrolysers with an 80,000-hour lifetime and 51kWh/kg energy efficiency by 2026.
.....
https://www.hydrogeninsight.com/policy/us-aims-to-drastically-reduce-costs-of-hydrogen-electrolysers-within-two-years/2-1-1640218
Wow. They dropped the ball again and once again kept this quiet from shareholders. Is this being a good fiduciary Mr. Marsh to shareholders and citizens in this county. How does this fit in with all the EGS, environmentally friendly, sustainable bs you have been espousing?
Date: May 9, 2024 first quarter 2024 financial results
Plug Power
Time: 8:30 AM ET (before markets open)
Bloom Energy
Time: 5:00 PM ET (after markets close)
Join us TOMORROW for a FREE SFT Webinar!
Register at https://nafa.users.membersuite.com/events/0bf51f0a-0078-cc90-4da9-0b469a861b32/details
Hydrogen: Considerations in Fleet Use
Wednesday, May 8, 2024 | 2–3:30 p.m.
This webinar will focus on hydrogen as a transportation fleet. Come listen to subject matter experts discuss the logistics you should consider when using hydrogen as a fuel for your fleet.
Metacon, Siemens partner to manufacture Chinese-designed electrolysers in EU
By Charlie Currie on May 07, 2024
Sweden’s Metacon has entered into a partnership with Siemens AB to manufacture Chinese-designed hydrogen electrolyser systems for the European market.
It comes after Metacon at the start of 2024 was granted the exclusive rights to manufacture complete electrolysis plants based on Chinese-based PERIC’s pressurised alkaline electrolysis modules.
The Swedish-based firm has access to PERIC’s 5MW and 10MW electrolyser modules, with rights applying to “most” European countries.
.....
https://www.h2-view.com/story/metacon-siemens-partner-to-manufacture-chinese-designed-electrolysers-in-eu/2109763.article/
MORE BAD NEWS !
Feds revoke major permit for STAMP industrial park
Ruling is the latest setback for the massive industrial park being developed in rural Genesee County. STAMP also faces two lawsuits over the pipeline.
Plug Power told the Town of Alabama recently it was pausing construction of its two hydrogen-producing electrolyzers.
The Fish and Wildlife Service issued a permit for the work in 2022, but ordered work stopped last fall after construction resulted in hundreds of gallons of drilling fluids spilling in protected wetlands in August and September.
"Plug Power told the Town of Alabama recently it was pausing construction of its two hydrogen-producing electrolyzers."
~Investigative Post, April 25, 2024
US targets massive cost reduction in hydrogen for deployment in transport and industry this decade
The Hydrogen and Fuel Cell Technologies Office aims for H2 to cost less than $7/kg at pump for heavy vehicles in less than four years
Polly Martin Updated 33 minutes ago
The US government’s Hydrogen and Fuel Cell Technologies Office (HFTO) has outlined a long list of interim targets in its latest Multi-Year Program Plan, with an eye towards massively driving down the cost of clean H2 for use in transportation and industry.
The HFTO — a wing of the Department of Energy responsible for allocating funds towards hydrogen research, development and demonstration — estimates that today, green hydrogen costs $5-7/kg to produce and $12-16/kg to dispense at refuelling stations.
However, in addition to aiming for the cost of electrolysis to fall to $2/kg by 2026, the HFTO has also set a target for H2 delivered to heavy vehicles to cost less than $7/kg by 2028 — or roughly halving the current cost in less than four years.
The agency is also targeting a reduction in fuel-cell system costs for trucks, to fall from $170/kW today to $140/kW by 2025 and $80/kW by 2030, with a longer-term ambition to bring these costs even further down to $60/kW.
.....
The HFTO also aims for three fuel-cell trucks to be developed via the government-funded “Super Truck” programme of subsidies for auto manufacturers.
The government agency cites previous examples of driving down costs for hydrogen technologies through government-funded research and development. For example, it notes that the cost of fuel cells for light-duty vehicles dropped by 70% between 2008 and 2020.
The HFTO estimates that fuel cells for heavy vehicles have gradually fallen in cost from $200/kW in 2021 to $170/kW last year — implying that another $30/kW drop could be achievable within two years.
.....
When it comes to integration with the country’s power system, the HFTO will this year validate at least 1MW of fuel-cell generator capacity at a data centre, conducting performance tests between 24 and 48 hours to evaluate how well such a system could ramp up to full power and maintain it during a power outage.
It also aims to:
- Trial behind-the-meter integration of a 1.25MW proton-exchange membrane (PEM) electrolyser with a nuclear power plant this year, with a high-temperature electrolysis system tested in similar conditions by 2025;
- Test and demonstrate the potential for fuel-cell generators to be used in microgrids by 2025;
- Demonstrate at least six integrated electrolyser systems, with a combined capacity of more than 3MW, with at least two different types of electricity generation by 2025, and increase this capacity to 10MW by 2027.
.....
https://www.hydrogeninsight.com/policy/us-targets-massive-cost-reduction-in-hydrogen-for-deployment-in-transport-and-industry-this-decade/2-1-1640023
January 20, 2025, is a bad date for Hydrogen. Sell-off starts early.
Seems the Investors Village is joining the Fool on hit pieces. Up to Andy to prove them wrong because they have been right like the shorts for the last few years. Yes, I hate them too, and I think they tend to tell half-truths just like Andy, but they were more right than wrong. The thing is only Andy, and his gang can right the ship. It sure would be nice if the bums bought shares as a sign of faith in the company growing and surviving.
Oil and gas companies/countries are feeling the heat.
They are under pressure to act on climate change and they see the rapid widespread hydrogen adoption and development in 2024.
Soon the anti Plug Power cartel will fall apart and the negative manipulation will stop.
Hopefully some Exxon whistleblowers will come forward.
Please read this article, very interesting.
https://link.houstonchronicle.com/view/5f43b2d1b6526f4e32712223l04ht.3fe/4fb29419
Please read this article, very interesting.
Will making hydrogen ‘green’ depend on China?
By Christian Robles | 05/06/2024
https://www.eenews.net/articles/will-making-hydrogen-green-depend-on-china/
BB, sounds like Plug Power could raise the price of their electrolyzers to make them even more profitable.
Will making hydrogen ‘green’ depend on China?
By Christian Robles | 05/06/2024
Machinery that makes hydrogen fuel from water could become another energy technology whose production is centered in Asia.
China’s dominance of supply chains for solar panels, electric vehicles and lithium-ion batteries is rippling through the U.S. energy sector and drawing political fire on Capitol Hill.
Now, another industry may be added to the list of concerns: “green” hydrogen.
China leads the world in producing the essential technology for green hydrogen made from renewables: electrolyzers. The machines use electricity to make hydrogen fuel from water. The Biden administration has prioritized domestic electrolyzer manufacturing as part of its goal of producing 10 million metric tons of “clean” hydrogen annually by 2030.
Industry experts say the administration’s hopes for a domestic supply chain hinge on final regulations for the 2022 Inflation Reduction Act’s hydrogen tax subsidies known as 45V.
“The 45V tax credits will be important in determining the future of electrolyzer manufacturing in the US,” said Payal Kaur, a hydrogen analyst for BloombergNEF, in an email. “If the final guidance is not well received it may impact the pace of growth in the market.”
…..
https://www.eenews.net/articles/will-making-hydrogen-green-depend-on-china/
I expect Fertiglobe and Fortescue FID before July 2024.
At the moment Plug Power is the only company with a proven PEM electrolyzer and an electrolyzer gagafactory with more than 1 GW capacity.
For Fertiglobe and Forstescue there is no other alternative if they want to produce hydrogen as soon as possible.
There will be a fight for Plug Power’s electrolyzers.
The Race for Green Hydrogen Dominance is Heating Up
By Felicity Bradstock - May 05, 2024
- China dominates the green hydrogen sector with over 1000 kilotonnes of electrolysis-based hydrogen capacity in development.
- Saudi Arabia is constructing the world's largest green hydrogen project, with a capacity of 600 tonnes per day.
- The EU aims to produce and import 10 million tonnes of green hydrogen by 2030 to power transport and decarbonize industry.
…..
The countries with the most ambitious green hydrogen production pipeline include China, Saudi Arabia, Sweden, the U.S., the U.K., Germany, Vietnam, Australia, Oman, France, and Canada. In 2023, China had 1060.9 kilotonnes of electrolysis-based hydrogen capacity in the final stages of development. While the second biggest green hydrogen power, Saudi Arabia, had 339 kT, followed by Sweden with 230.8 kT, demonstrating China’s dominance of the sector. Saudi Arabia is currently constructing the world’s biggest green hydrogen project to date, a facility that is expected to include ?up to 4 GW of solar and wind energy to produce up to 600 tonnes of green hydrogen per day, or up to 200 GW of green hydrogen every year.
The European Union aims to produce 10 million tonnes and import a further 10 million tonnes of green hydrogen by 2030, which it will use to power transport and decarbonise industry. Germany has big plans for a future in green hydrogen, with almost $14.2 billion in state funding earmarked for the development of around two dozen hydrogen projects. Meanwhile, Sweden opened its largest electrolyser facility last year, with more expected to follow. In the U.K., the government believes “low carbon hydrogen has a critical role to play in [its] transition to net zero.” The U.K. plans to develop 5 GW of low-carbon hydrogen production capacity by 2030, equivalent to the amount of gas consumed by over 3 million households annually.
In the Middle East and North Africa (MENA) region, several states are developing their green hydrogen capacity, supported by state and private funding. This month, in Oman, the state-owned group overseeing green hydrogen development, Hydrom, surpassed its annual funding aims with the signing of two new projects in Dhofar worth $11 billion. Oman’s total green hydrogen production is now expected to reach 1.38 million tonnes per year (mtpa) by 2030. The second round of green hydrogen auctions by Hydrom attracted more than 200 companies looking to invest in the sector in Oman.
Meanwhile, in March, the Moroccan government stated that it would be allocating one million hectares to green hydrogen projects, with 300,000 hectares designated for the first phase of development. This is expected to attract greater private investment in the sector. The Prime Minister of Morocco said he expected to help the North African country “play a major role in the field of energy transition globally.” Over 100 investors have already shown interest in producing green hydrogen in Morocco, encouraged by the country’s favourable conditions for solar and wind energy production.
In Asia, China is rapidly developing its green hydrogen capacity, with an estimated installed capacity of 1.2 GW at the end of 2023. The Hydrogen Council and McKinsey predict that China will be the biggest single market for clean hydrogen by the mid-century, transporting most of its supplies via pipeline for domestic use. Meanwhile, in Vietnam, the government launched its national hydrogen development strategy in February. Vietnam aims to produce between 100,000 MT and 500,000 MT a year of hydrogen, derived from renewable energy and carbon capture by the end of the decade. This is expected to increase to between 10 million MT and 20 million MT a year by 2050.
…..
https://oilprice.com/Energy/Energy-General/The-Race-for-Green-Hydrogen-Dominance-is-Heating-Up.html
The Perfect Storm
- Israel-Gaza war: Ceasefire talks intensify in Cairo
13 hours ago By Anna Foster & Andre Rhoden-Paul
https://www.bbc.com/news/world-middle-east-68956549
- The Meme Mania Returns
Move over, meme-stock millennials. Your grandma wants to trade options.
May 4, 2024 By Beth Pinsker
https://www.marketwatch.com/story/move-over-meme-stock-millennials-your-grandma-wants-to-trade-options-8d7f2757
- Fed Meeting: Rate Cuts Will Wait, But QT Relief Offers Stealth Easing; S&P 500 Slips
JED GRAHAM 05/01/2024
…..
The Fed statement reiterated that rate cuts will wait until policymakers have "gained greater confidence that inflation is moving sustainably toward 2%."
However, policymakers announced a slower pace for unloading holdings of Treasuries from the Fed's balance sheet.
"Beginning in June, the Committee will slow the pace of decline of its securities holdings by reducing the monthly redemption cap on Treasury securities from $60 billion to $25 billion."
Approving relief from quantitative tightening, or QT, may be seen on Wall Street as throwing a bone to markets.
…..
https://www.investors.com/news/economy/federal-reserve-meeting-may-jerome-powell-qt-rate-cuts/
- Conditional approval of DOE loan
- Plug Power Announces 2023 First Quarter Results with record revenue and narrowed losses. Andy will also raise expectations.
- Final Guidance for 45V with less restrictive requirements
- Data Centre Backup Power initial testing
- Louisiana plant update/partial producing hydrogen gas (planning operational was Q3 2024)
The rapid widespread adoption and development of hydrogen in 2024 will change the meaning of FID for hydrogen projects.
Fast Investment Decision instead of Final Investment Decision
If by some miracle the stock price hits a three-year high and the majority of shareholders do not bother to attend the shareholders' meeting, then it will be easier to meet the one-third quorum requirement instead of the 50%.
(I think)
On April 24, 2024, the Board of Directors of Plug Power Inc., a Delaware corporation (the “Company”), approved and adopted the Company’s Seventh Amended and Restated Bylaws (the “Seventh Amended and Restated Bylaws”), which became effective immediately, solely to reduce the quorum required to hold meetings of the Company’s stockholders. The Seventh Amended and Restated Bylaws reduces the quorum requirement from a majority to one-third of the voting power of the outstanding stock entitled to vote, and present in person or represented by proxy, at the Company’s stockholder meetings.
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001093691/029ec88d-f459-4ee2-959c-c571212afd2f.pdf
IRS Expects Updates To Hydrogen Credit Emissions Model
By Kat Lucero · May 3, 2024, 5:40 PM EDT
The Internal Revenue Service expects the U.S. Department of Energy to update a model used to determine eligibility for the new clean hydrogen production tax credit under recently proposed rules, an...
https://www.law360.com/tax-authority/state-local/articles/1833286/irs-expects-updates-to-hydrogen-credit-emissions-model
Exactly. Andy Marsh stands a much better chance of achieving political office because he's the much better polished liar.
Ole Hoffelmann with his speech mannerisms couldn't be elected dog catcher.
Velcro, it's not just that, he looks and sounds as if he's sitting on the toilet constipated, no enthusiasm whatsoever, painful to watch.
Groping for a thought in our modern age is taken as a major downer. It's unbecoming to pause to think. Politicians never grope for a thought; they just keep lying. Now you take the well-spoken Andy Marsh who talks smooth as silk, never missing a beat, and never needing to think. It gets old and less and less believable.
Joe Biden is no longer a skillful orator and will lose the 2024 election because he actually reads the teleprompter "pause."
Steve, great questions I don't have the answers to. I was just going to comment that once again he demonstrated that he has poor communication skills and is not a good spokesperson for a company. If you recall, he had a major breakdown during an important presentation for Plug Power, maybe the reason why he was let go. I don't know, I can only speculate. Hopefully he departed in good terms.
Nothing personal, as I also have terrible communication skills, but I don't hold a key level position in a company.
FORTESCUE LAUNCHES ITS FIRST U.S. GREEN HYDROGEN PRODUCTION FACILITY IN BUCKEYE
Representing a $550 million investment, the facility will produce up to 11,000 tons of liquid green hydrogen annually
BUCKEYE, AZ (May 3, 2024) – Fortescue marked a new phase in the development of the company’s $550 million venture into green hydrogen production in the United States, the first of Fortescue’s planned green energy investments in North America with a soil turn ceremony and renaming of our green hydrogen facility in Buckeye, Arizona to Arizona Hydrogen.
On May 2, Fortescue Executive Chair and Founder Dr. Andrew Forrest AO was joined by local government, economic development and community leaders including Gila River Indian Community Governor Steven Roe Lewis, Sandra Watson, President and CEO of the Arizona Commerce Authority and Buckeye Mayor Eric Orsborn.
At the 158-acre facility site, Dr. Forrest praised the Biden Administration’s commitment to the energy transition, but cautioned there is more work to be done.
“The U.S. has made serious strides in attracting global investment in green hydrogen and decarbonization projects, like Fortescue’s solar and wind-powered Arizona Hydrogen facility. Fortescue is unashamedly a first-mover in this space, the world needs us to move quickly,” Dr. Forrest said.
“I am hopeful that the Biden Administration will continue supporting the growth of the green hydrogen industry, particularly as they work to finalize the 45V green hydrogen tax credits. The current Treasury rules limit project opportunities, create investment risk, and significantly increases costs for green hydrogen production. Fortescue shares the Biden Administration’s ambitious climate goals, and hopes the Treasury will ensure early movers like Fortescue can continue investing and creating jobs here in the U.S.”
.....
https://www.azcommerce.com/news-events/news/2024/5/fortescue-launches-its-first-us-green-hydrogen-production-facility-in-buckeye/
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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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