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Henrik Alex is a wanna be analyst. He writes lots of articles on Seeking Alpha and pretty negative on stocks that turn out be good investments. I am sure the CFO of PLUG wrote a letter to Seeking Alpha.
Seeking Alpha has some really bad articles and really bad advice. And they want people to pay for access to the garbage articles. Incredible. The latest article by Henrik is about ZIM. I have learned over the years to do the opposite of what people in SA write. So I bought a bunch of shares. Will see how it turn out.
Banger - Volume !
This is just for you:
What was really interesting about the Bloom - XEL announcements was how small the electrolyser is with no mention of it being a pilot and MOU for say 20MW.
Solid Oxide will be better there as the heat needed is coming from the powerplant, not from the electricity supply, just like SO or MC fuel cells associated with power plants already are.
I am assuming the long timelines for the installation is due to permitting any work around a reactor, or may be they do have a year backlog already for Korea.
To survive in this competitive market requires volume, so small one off projects better lead to high volume follow ons. This has been a criteria for PLUGs electrolyser and Fuel cell businesses.
You already have a nuke plant and they are just using excess power that is cheap and clean. Bloom is agnostic when it comes to the source and can use Green H2 as well but will use what the customer demands. Many customers look at the price and what is affordable and using what is available now.
Banger - I took profits in several stocks this year, Tesla for instance.
And as you know, I have also booked gains selling options and shorting .
If I had bought PLUG at $65 or higher, I would definitely be pushing the share price down in order to take full advantage of the tax losses.
Having a bunch of longs pushing down the price can't be good.
no,
they are probably down more on other stocks and know the recovery in PLUG could be quick.
under $18 may be. but tax loss needs to be off set against gains..... what do they sell to get a tax bill?
It looks as if we are in for another tough Friday.
Question: Do you think those who bought at $65, are considering dumping for tax losses?
New information on timing for the H2 Hubs. https://content.govdelivery.com/accounts/USEERE/bulletins/32e7092
The markets go down and we go down,... The markets go up and we go down.
WTM - Thank you. I never doubted that the concepts works. I do wonder if there are other, better, cheaper alternatives.
For instance, most data centers have natural gas connections (pipelines) . An RNG back-up generator, is a technology that has been around for decades, needs no fuel storage, and is already proven to be economical.
I am sure there are other alternatives as well which check all of the boxes.
It's not Green Hydrogen, though, since there is that nuclear waste to deal with.
When customers demand Green Hydrogen, it won't fit the bill, like PLUG's Green Hydrogen production will.
Thanks !
JMI
JB, according to the following article, Microsoft thinks that Plug Power hydrogen solution is a viable one. Quote: "That fast reaction and load following capability is well suited for backup power at datacenters," said Mark Monroe, a principal infrastructure engineer on Microsoft’s team for datacenter advanced development.
“We started looking at the projections of the costs and the availability of hydrogen and we started to really believe that this might be a solution,” said Monroe. “And, so, we built a vision. It took us from a rack to a row to a room to a datacenter.”
Rethinking the Data Center: Hydrogen Backup is Latest Microsoft Moonshot
BY RICH MILLER - AUGUST 1, 2022
A 3-megawatt hydrogen fuel cell developed for Microsoft by Plug Power, which may replace diesel generators in Microsoft data centers. (Image: Microsoft)
In the two years since it announced plans to become a carbon negative company, Microsoft has accelerated its bid to rethink the data center. Its research groups have unveiled a series of innovations to reduce the impact of its computing operations on the environment. The latest of these “moonshots” is the deployment of a 3-megawatt hydrogen generator producing that can replace diesel generators.
Microsoft and equipment partner Plug Power successfully tested the system, which pushes the boundaries of scalability for hydrogen fuel cells.
“What we just witnessed was, for the datacenter industry, a moon landing moment,” said Sean James, Microsoft’s director of datacenter research, after the June test at a Plug facility in Latham, N.Y. “We have a generator that produces no emissions. It’s mind-blowing.”
The hydrogen generator is part of a broader initiative to make data centers more sustainable. Microsoft wants to change the way they power, cool and manage a fleet of millions of servers across the globe. It is the boldest example of how hyperscale cloud operators are applying their technology, innovation and financial strength to slash the climate impact of data centers and build a digital future that doesn’t harm the planet.
Harnessing Innovation Leadership
Cloud operators like Microsoft are some of the largest users of energy. As the world confronts the growing urgency of the climate crisis, top cloud computing companies are stepping up their sustainability efforts. These huge tech companies are already the largest purchasers of renewable energy, and were among more than 70 companies joining the iMasons Climate Accord, which calls for new steps to track and reduce the environmental impact of the data centers that power the Internet.
Even among the strong industry responses, Microsoft has stood out with the volume of its R&D innovation to create greener data centers. These projects include:
- Grid-Interactive UPS Systems: Microsoft data centers will soon begin sharing energy from their UPS battery storage systems with Ireland’s power grid, part of a growing movement for data centers to collaborate more closely with the utility industry.
- Data Center Microgrids: Microsoft will integrate a microgrid at a new data center in San Jose, Calif., which will use renewable natural gas (RNG) instead of diesel fuel to power its emergency backup generators. The project with Enchanted Rock advances Microsoft’s goal of moving off diesel fuel by 2030.
- Cleaner Generator Fuel: While it advances its development of microgrids and hydrogen fuel cells, Microsoft will begin using lower-carbon renewable fuel for data center generators at its cloud region in Sweden.
- Slashing Water Usage: The company will reduce the use of water in its data centers by 95 percent by 2024 by refining how it designs and operates its massive cloud infrastructure. including operating its data centers at warmer temperatures.
- Using Immersion to Cool Servers: Microsoft has begun using immersion-cooled servers in production, the company said this week. The announcement is a meaningful milestone for adoption of two-phase immersion, which promises major gains in density and efficiency, and will also reduce the water use of its computing operations. Immersion may also help servers run faster by enabling more overclocking of processors.
- Next-Generation Data Storage: Microsoft is working on new storage technologies to house massive amounts of data in DNA and holograms. These storage technologies could disrupt how data centers are designed and operate.
- Low-Carbon Buildings: New research from Microsoft outlines the potential use of sustainable material in data center construction projects to create low-carbon cloud infrastructure. It is exploring the use of mushrooms, algae, agricultural waste and hemp as structural materials.
That’s a ton of innovation within a two-year period, and doesn’t even include Microsoft’s underwater data center Project Natick, which pushed the boundaries of where the cloud could live, and also found that servers housed in a sealed nitrogen environment were substantially more reliable than those in traditional data centers.
The Promise of Hydrogen Power
Hydrogen has always been envisioned as a potential fuel to power a clean revolution, as we noted in our recent DCF roundtable. But hydrogen fuel cells have remained elusive as a production option, lacking the economics and scale for data center production.
That began to change in July 2020, when Microsoft announced plans to end its reliance on diesel fuel by 2030, a decision with major implications for data centers around the world. Diesel generators play a central role in ensuring that mission-critical data center applications never go offline, as part of a redundant electrical infrastructure that also includes uninterruptible power supply (UPS) systems and batteries.
Several weeks later, Microsoft said it ran a row of 10 racks of Microsoft Azure cloud servers for 48 hours using a 250-kilowatt hydrogen-powered fuel cell system at a facility near Salt Lake City, Utah. That laid the groundwork for the 3-megawatt generator test with Plug Power, which brings development to a new level.
“Three megawatts is super interesting because that’s the size of the diesel generators that we use right now,” said Lucas Joppa, Microsoft’s chief environmental officer.
The Microsoft hydrogen generator uses a fuel cell technology known as proton exchange membrane (PEM) that combine hydrogen and oxygen in a chemical reaction that generates electricity, heat and water – with no combustion, no particulate matter and no carbon emissions.
Once green hydrogen is available and economically viable, this type of stationary backup power could be implemented across industries, from datacenters to commercial buildings and hospitals. PEM fuel cells are commonly used in the automotive industry because, like diesel engines, they are quick to turn on and off, and can follow a load up and down.
That fast reaction and load following capability is well suited for backup power at datacenters, said Mark Monroe, a principal infrastructure engineer on Microsoft’s team for datacenter advanced development.
“We started looking at the projections of the costs and the availability of hydrogen and we started to really believe that this might be a solution,” said Monroe. “And, so, we built a vision. It took us from a rack to a row to a room to a datacenter.”
The Road Ahead
Plug Power is a leader in energy products using green carbon, produced by splitting water into hydrogen and oxygen using renewable electricity. There are other flavors of hydrogen fuel that use less sustainable methodology, including “blue” hydrogen sourced from methane or natural gas.
Plug says it is now focused on rolling out an optimized commercial version of high-power stationary fuel cell systems that have a smaller footprint and a more streamlined and polished aesthetic than the one on the pad adjacent to the parking lot in Latham.
Microsoft will install one of these second-generation fuel cell systems at a research datacenter where engineers will learn how to work with and deploy the new technology, including the development of hydrogen safety protocols. The date of first deployment at a live datacenter is unknown, though it will likely occur at a new datacenter in a location where air quality standards prohibit diesel generators, James noted.
“I’m going to turn around when the excitement dies down and start to ask, ‘Okay, we did one, where can I get 1,000?’” he said. “We’ve got a commitment to be completely diesel free, and that supply chain has got to be robust – we’ve got to talk about scale across the entire hydrogen industry.”
The following is an article from October 27, 2021, announcing the partnership between Plug Power and Lhyfe.
Plug Power Inc. and Lhyfe Announces Partnership to Jointly Pursue and Develop Green Hydrogen Generation Plants Throughout Europe
Plug Power Inc. and Lhyfe announced a partnership to jointly pursue and develop green hydrogen generation plants throughout Europe. The initiative seeks to generate a total hydrogen capacity of 300 MW by 2025, and to start the development of a 1 GW production site.
The agreement builds upon the working relationship already established between the two companies early in year 2021. In that project, Plug Power's hydrogen electrolyzer technology will provide 1 MW of capacity to the offshore hydrogen production facility, developed by Lhyfe and powered by electricity from a floating wind turbine off the coast of Le Croisic, at SEM-REV, Centrale Nantes offshore test site, which will be operational by 2022.
Executives from Plug Power and Lhyfe gathered on October 27, 2021 in Paris, France, at Hyvolution 2021, where they signed a Memorandum of Understanding (MOU) outlining their respective roles and responsibilities, and their goals for the years ahead. Plug Power and Lhyfe will pursue opportunities to jointly develop green hydrogen generation plants throughout Europe, generated with PEM electrolysis technology and supplied with electrical power from renewable energy sources.
The new initiative will primarily serve on-road and off-road mobility applications. Finally, the two parties will also consider working together to co-develop a US-based offshore wind electrolyzer plant.
Tomorrow at 4:30 am CST. LHYFE will showcase it’s first renewable energy platform which PLUG is a partner with.
Here's a bigger deal and I suspect the first of many. This is an application that Oxide is better than PEM. https://finance.yahoo.com/news/bloom-energy-collaborates-xel-produce-131901741.html
PLUG has yet to commercialise its microgrid back up/supply solution
The farms solution wasn't therefore a PLUG prospect - FCEL maybe at that size of installation (4MW fuel cell 2MW direct solar).
Will be interesting to see how PLUG packages and designs these systems - Bloom has excellent physical design but we hired their marketing manager so I hope some of that is incorporated in PLUG solutions once announced.
WTM- I wouldn't count on Microsoft for much.
Once MS does the math, I think they will determine that there are other, better alternatives for back-up power.
JB, that's OK, Plug Power will get Walmart, Amazon and Microsoft.
UK, the conclusion is the same, Plug Power is not worried about a recession. Great points on Plug Power labor force, meant to say it many times in the past, you often hear companies say, "Our biggest asset is our workforce," definitely true for Plug Power.
WTM - Here's more good news for a PLUG Competitor:
https://seekingalpha.com/news/3884833-taylor-foods-taps-bloom-energy-to-take-biggest-food-processing-plant-off-grid?mailingid=29121160&messageid=2900&serial=29121160.3250&source=email_2900&utm_campaign=rta-stock-news&utm_content=link-3&utm_medium=email&utm_source=seeking_alpha&utm_term=29121160.3250
Related news from a Plug Power competitor. Not a problem, the Total Tangible Market (TTM) in this category is projected to be so big (510,000 carbon- free medium and heavy-duty vehicles on California’s roads in 2035, increasing to 1.2 million in 2045 and nearly 1.6 million in 2050) that there is plenty of room for everybody to make money and succeed. https://blog.ballard.com/partnering-to-accelerate-the-adoption-of-fuel-cell-power-for-trucks
its is more indicative of them having a clear view of their business over the next 12+ months.
Typically they can list the delivery schedule for 75% of their business before a year starts. Hence their revenue forecasts. I think every electrolyser they can make in the next 12 months has an address label printed - hence the need for expanded manufacturing.
Labor is one of the biggest risks for them as they grow. Their acquisitions were ideal for gaining knowledge and then being able to cross trains teams in their geographies to deliver the whole H2 ecosystem. Their relationships with universities is getting good talent all around as well. Some good HR activity going on.
That makes sense since Plug has so many ongoing projects and recent deals. We are just starting to see the begging of massive layoffs starting. This recession could be as bad or worse than the one in 1980's when Volker raised rates to 20%. While I don't see 20% I would not be surprised to eventually see 8% or more depending on what happens in the next few quarters. Will we start seeing prices come down? With Union contracts forcing up labor cost and the recent $15+ push in minimum wages the only way to get this sticky cost down is layoffs. When people start moving back in with their parents and rents come down along with housing prices we should start turning around, but this might take a year or two. As for Plug being profitable in 2025 I thought Andy said 2024? Amit and Andy need to get on the same page. AS for me I will believe it when I finally see it. We should weather this storm better than most due to the Government tax credits, but we are not immune to the recession.
As a follow up to my previous post, Plug Power currently has 421 open positions, indicating to me that they are currently not worried about the possibility of an upcoming recession. https://plugpower.wd5.myworkdayjobs.com/Plug_Power_Inc
The only assumption is growth rate. I assume he is using actual waited cost of capital and cash flow. I am not allowed to post his full report.
Discounted Cash Flow (DCF) analysis is based on assumptions.
Amit should spell out all those assumptions, especially after the next Quarterly Loss.
Comments from Amit.
“We are projecting net revenues to rise from $886M in 2022 to $23.8B in 2032, at a ten-year CAGR of 39.0%. We believe that the company should be able to grow its gross margins from negative levels today to 15.7% on 2023 and subsequently reach approximately 35.0% by 2030 as revenues continue to rise.
We expect Plug to begin generating quarterly operating profits during 2025. We have utilized a DCF analysis to arrive at our $78.00 price target using a discount rate of 7.9% that is derived from the company’s weighted average cost of capital (WACC).”
It’s my belief that 2032 revenues will be closer to $30 billion. The annual growth rate should be considerably higher than 39%.
Chrisp C.
Steve, agree, I share your concerns. I just hope that Plug does better than others, like during the peak of the COVID crisis, after all, food, energy and transportation are essentials that people cannot do without.
With respect to the computerized trading you referred to in your post, the following are the key levels to look out for:
(Source
While I'd like to see this, and I think we have a better chance than most due to recent government incentives the world is going into recession. Europe is there and so are we by the typical definition. 2023 will be another rough year it looks like with Europe at negative growth and us 1% and that is very doubtful. While we are still growing our customers may suffer cutbacks and therefore our growth maybe stunted also. We may see projects delayed and less sales increases in the forklift sector. I hope the other areas will more than make up for this. I'm also hearing we may have a sharp leg down in the market as a whole since so much is computer traded. This may provide opportunities for cheaper shares. Long term it should not matter but it could be a bumpy road until 2024. I'm sure we have a few more bumps while the market continues its downward trend.
Analysts Are Bullish on Top Technology Stocks: Cognex (CGNX), Plug Power (PLUG)
Brian Anderson
Sep 20, 2022, 06:30 AM
https://www.tipranks.com/news/blurbs/analysts-are-bullish-on-top-technology-stocks-cognex-cgnx-plug-power-plug
Plug Power (PLUG)
In a report released today, Amit Dayal from H.C. Wainwright maintained a Buy rating on Plug Power, with a price target of $78.00. The company’s shares closed last Monday at $27.71.
According to TipRanks.com, Dayal is a top 25 analyst with an average return of 46.1% and a 43.0% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as TOMI Environmental Solutions, Pioneer Power Solutions, and Westport Fuel Systems.
Currently, the analyst consensus on Plug Power is a Moderate Buy with an average price target of $35.83, implying a 29.4% upside from current levels. In a report issued on September 6, Seaport Global also maintained a Buy rating on the stock with a $38.00 price target.
Big change for big rigs: California unveils mandate to phase out diesel trucks
BY NADIA LOPEZ, SEPTEMBER 15, 2022
https://calmatters.org/environment/2022/09/california-phase-out-diesel-trucks-zero-emission/
Shipments of cargo leave the Port of Oakland on July 25, 2022. Photo by Martin do Nascimento, CalMatters
IN SUMMARY
In another worldwide first, California would require new trucks to be zero-emissions in 2040. Large companies would gradually convert fleets. Truckers worry about the costs and practicality of electric trucks.
New big rigs and other trucks will have to be zero-emissions in 2040 — ending their decades-long reliance on high-polluting diesel — under a proposed regulation unveiled by the California Air Resources Board.
Under the proposal, manufacturers couldn’t sell new medium-duty and heavy-duty trucks fueled by diesel or gasoline that operate in California, instead turning to electric models. In addition, large trucking companies would have to gradually convert their existing fleets to zero-emission vehicles, buying more over time until all are zero emissions by 2042.
In another worldwide first, California aims to amp up its efforts to end the use of fossil fuels by setting requirements for clean-burning big rigs, garbage trucks, delivery trucks and other large trucks. Transportation is California’s largest contributor to climate-warming greenhouse gases as well as smog and other air pollutants.
Chris Shimoda, a senior vice president at the California Trucking Association, which represents truck drivers, said zero-emission truck technology has great possibilities, but truckers worry about “the practical unknowns,” such as the high cost of the trucks, a lack of charging stations and the limited range of the vehicles.
“We’re flying blind into some pretty major questions about the practicality of actually implementing this rule,” Shimoda said.
The air board did not include cost estimates for trucking companies and truck drivers in its proposal, only saying that their upfront costs would be high but they’d save money over time.
About 1.8 million heavy-duty trucks on California’s roads would be affected by the regulation, according to the report.
The proposed rule could put about 510,000 carbon- free medium and heavy-duty vehicles on California’s roads in 2035, increasing to 1.2 million in 2045 and nearly 1.6 million in 2050, according to the air board. Currently there are only 1,943 zero emission medium and heavy duty vehicles on the state’s roads, and nearly all of them are buses.
The new truck mandate is “really a critical piece of the state’s climate and clean air objectives,” said Patricio Portillo, a clean transportation advocate at the Natural Resources Defense Council. “A common sight on California’s highways are trucks clogging lanes, blowing thick smoke into the sky while overheated trucks rest at the side. It’s so normal that we stop thinking about it, but that exhaust permeating the air harms our lungs and bodies.”
The air board will hold a public hearing on the proposal on Oct. 27, after a 45-day public comment period. It comes just a few weeks after the air board passed another far-reaching mandate that bans sales of gas-powered cars by 2035.
California has been ratcheting down emissions from diesel-powered trucks and buses for decades in an effort to combat the state’s severe air pollution. The new proposal builds on a clean trucks regulation passed in 2020, which gradually increases the number of zero-emission trucks that manufacturers must sell, starting in 2024.
The provisions requiring turnover of existing fleets would apply only to federal agencies and so-called “high-priority fleets,” which are owned or operated by companies with 50 or more trucks or $50 million or more in annual revenue. Included are trucks weighing 10,001 pounds or more and package delivery vehicles of 8,500 lbs or more, including U.S. Postal Service, FedEx, UPS and Amazon fleets.
These large companies and federal agencies would have a choice on how to comply: They could purchase only zero-emission vehicles beginning in 2024 while retiring diesel trucks at the end of their useful life. Or they could phase-in zero-emission trucks as a percentage of their total fleet, starting with 10% of delivery trucks and other types that are the easiest to electrify in 2025, then ramping up to 100% between 2035 and 2042.
The requirements for converting fleets would not apply to smaller companies, unless they were using a larger company’s trucks. They could keep their trucks as long as they want under the proposal, although their new purchases would have to be zero-emission by 2040, according to Tony Brasil, chief of the air board’s transportation and technology branch.
“We also believe that some of the market dynamics will probably encourage fleets to replace their trucks earlier,” Brasil said. “As new zero emission trucks become available, the cost of operation is considerably lower.”
Working toward the 2040 ban on new diesel and gas trucks, the proposal has other deadlines for phasing in new sales, varying based on the type of truck.
Drayage trucks — used largely to transport cargo from ports and railways — would have the strictest timeline. New models would be zero-emission in 2024, while diesel and gas drayage trucks must retire after 18 years to guarantee that they meet a zero-emission requirement by 2035.
In addition, half of all new trucks purchased by state and local governments would be zero-emission in 2024, increasing to 100% by 2027. Some exemptions are allowed, if there is a lack of available models. Counties with small populations, including Inyo, Butte, Mendocino and Tuolumne, would be exempt until 2027.
The new rule banning sale of diesel vehicles would not apply to emergency vehicles, such as ambulances.
Some manufacturers have already announced plans to ramp up sales of electric truck fleets. Tesla plans to roll out electric semi trucks with 500 miles of range later this year, while Volvo Trucks and Nikola Inc. have launched electric big-rigs and other models with ranges of up to 350 miles. Volvo Trucks this year set a global goal that half of its truck sales would be electric by 2030.
“We are determined to lead the transformation of the transport industry,” Roger Alm, president of Volvo Trucks, said in a statement. “The interest among customers is high and it’s quickly becoming a competitive advantage for transporters to be able to offer electric, sustainable transports.”
But challenges with the transition remain.
Many electric heavy-duty trucks currently on the market still lack the range needed to transport cargo statewide and across state lines. Some vehicles like drayage trucks are better suited for electrification because those vehicles may not need as long of a vehicle range, said Shimoda of the California Trucking Association. But for long-haulers, the mandate could pose serious problems, he said.
Long-haul diesel trucks can operate up to 1,000 miles before needing to refill the tank, which takes 10 to 15 minutes to fill up. But electric models have to be charged often because they have “significantly shorter range” and they take hours to charge.
“The charging infrastructure that is necessary to support these trucks is basically non-existent today. Even the fastest available chargers right now are going to take three to four hours to charge up to a full state,” said Shimoda, who represents California truckers.
Todd Spencer, president and CEO of the Owner-Operator Independent Drivers Association, said charging times of more than two hours could “cause total disruption” of the industry.
“Neither the technology nor the interstate infrastructure will be available in the foreseeable future to support a zero-emission requirement for long-haul interstate trucks,” he said.
Some new technology, however, has already surfaced that dramatically cuts the charging time. The newest model of the Volvo eVNR tractor-trailer can recharge to 80% in just 90 minutes.
The mandate also would increase demand on the state’s already-fragile electric grid.
“These charging stations are going to be a huge, huge power draw,” Shimoda said. “To put into context, the Levi’s Stadium in Santa Clara on a game day uses around 300 to 350 kilowatts of power. A charging station needed for a big rig is going to be like 30 times larger.”
Stanley Young, an Air Resources Board spokesperson, said many concerns over the charging infrastructure are already being addressed under the buildout of the grid outlined in the state’s proposed scoping plan, its climate change blueprint.
Though new model prices are high, electric trucks would need much lower maintenance costs over time compared to fossil-fueled engines and would save money to recharge with electricity than diesel.
Shane Levy of Proterra, an electric vehicle technology company, said the company has rapidly scaled up its battery technology in recent years. It is currently working with more than a dozen manufacturers to electrify medium- and heavy-duty trucks and has delivered battery systems for more than a thousand commercial vehicles.
He said the new rule could accelerate the market.
“Commercial vehicles are ripe for electrification – benefiting not only how we move people around cities and towns, but also how we provide goods and services to the communities we live in,” he added.
Some state and federal subsidy programs could also help provide relief to companies and truck drivers.
Although the board provided no cost data, staff said the long-term economic net benefits are expected to save companies about $22 billion over the life of the regulation and will save more than 5,000 California lives between 2024 and 2050, according to air board staff’s estimates.
Environmental groups say the deadlines should be accelerated by four years, from 2040 to 2036 for all sales of new zero-emission trucks.
Portillo, of the Natural Resources Defense Council, said speeding up the transition would have health benefits for low-income, disadvantaged communities that live near highways, railyards and ports, where trucks spew toxic diesel exhaust and smog-forming pollutants.
Diesel exhaust is one of the most harmful pollutants that threaten Californians’ health, containing more than 40 carcinogens as well as particles that contribute to cardiovascular and respiratory disease.
Link to registration for the live webcast of Plug Power symposium on October 18 and 19, 2022 https://plugpower.us5.list-manage.com/track/click?u=47de40297eda00a808edde8b9&id=cb7be61a22&e=9cb2360c4d
Maybe we should by this company
Reuters: Loop Energy says new hydrogen fuel cell more efficient than diesel engine.
https://www.reuters.com/business/autos-transportation/loop-energy-says-new-hydrogen-fuel-cell-more-efficient-than-diesel-engine-2022-09-18/
CleanTechnica: Giant Steps & Baby Steps For Fuel Cell Trucks In The US.
https://cleantechnica.com/2022/09/15/giant-steps-baby-steps-for-fuel-cell-trucks-in-the-us/
Thanks for that,... Exciting stuff! I look forward to what they will do in Europe, it would be great if we did a similar deal with a similar US transportation company,.... Thanks for posting!
Hyvia out with their initial customer list:
https://www.hyvia.eu/app/uploads/2022/09/20220916-press-release-v2.pdf
This is a lot of pilots for different industries. H2 mobility is hot in Europe.
HYVIA participates in the IAA Transportation in Hanover, Germany, from 20 to 25 September 2022, next to the Renault booth (E70 - Hall 13). The brand exhibits, for the first time at a major car show, its whole range of hydrogen-powered vehicles: Master Van H2-TECH, Master City Bus H2-TECH (in a sublimated version), and Master Chassis Cab H2-TECH, as well as H2 refueling station and fuel cell prototypes.
• HYVIA is initiating tests of Master Van H2-TECH with innovative partners like:
o CHRONOPOST, French leader in express delivery, ENGIE, a global reference in low- carbon energy and services, ORANGE, one of the leaders in telecommunications services in France and around the world, as well as EQUANS, world leader in multi-
technical services
o In Germany: HAMBURGER HAFEN UND LOGISTIK AG, a major European logistics
company, PACKETA, a digital platform for e-commerce and solutions for parcel delivery across the world, and MAXIMATOR HYDROGEN GmbH, leading provider and developer of hydrogen refueling stations and H2 technologies.
• Concerning the Master City Bus H2-TECH:
o ThedistributionnetworkistakingshapewithpartnerssuchasPVI(France),MELLOR
(Sweden, Norway and Finland), TRIBUS (Germany, Netherlands, Denmark, Belgium
and Luxembourg) and QIBUS (Italy).
o Thefirstpilotcustomers:RATPDev,amajorplayerinpassengertransportinEurope,
B.E. GREEN, a pioneer in zero-emission bus rental in France, MILLA, a pioneer in autonomous buses in France, and STROOMLIJN, a public transport specialist in Netherlands.
• Conversion projects on Master Chassis Cab H2-TECH are progressing in particular for refrigerated, tipper, bucket or large volume versions.
• Last but not least, a strategic asset of our ecosystem: after-sales is being set up with the training and preparation of pilot dealers in Europe.
some people don't understand that the problem is not with generating electricity it is with storage. Hydrogen solves that problem and allows the energy to be used when the sun isn't shining or the wind isn't blowing. Batteries will never be able to do it at the scale needed.
Registration is open for the Plug 2022 Symposium. https://mailchi.mp/242968340fbf/plugsymposiumregistration?e=105f44f7e7
Fully expect this to get some press next week and at the symposium.
https://www.linkedin.com/posts/lhyfe_innovation-greenhydrogen-decarbonation-activity-6976523309769273344-6AEC?utm_source=share&utm_medium=member_desktop
Can’t recall their plans for roll out once first unit is proven
Interesting project as they hope to be online in 2025, yet not sure they have actually shipped any of their SOE electrolysers yet.
scaling up production is one thing but actually being able to instal and integrate into a commercial process another.
no deliveries to US for some time and then it's to a "south west" plant so the location may not be known and permitting will take another 2 years unless Schumer's bill gets passed.
Lots of these first time companies launching on the back of the European energy crisis. Some will succeed some will fail. this company has big $$ backing but is scaling to only meet the needs of this one project.
Bloom of course has SOE electrolysers already.
PLUG has green ammonia making project already under construction and going to demo at COP 27 in Egypt
The Administration will not give this project any $$ if they aren't made in the USA, they cant dictate what private companies decide to buy but they can influence through subsidies.
As Andy has said - "many are talking - we are doing"
jammy - It's just a Law of Physics , but we will see.
Another Mega deal in our backyard from a foreign country? I thought this administration wanted to do business with American companies. https://www.rechargenews.com/energy-transition/topsoe-wins-world-s-largest-ever-hydrogen-electrolyser-order-in-5gw-green-ammonia-deal/2-1-1299119
That’s not what I’ve been reading. We will see
Ironic. It takes 2 units of electricity to produce 1 unit of hydrogen.
It sounds like this will cause more damage than good.
I'm expecting to here a lot more about the commercialization of this solution at the Symposium. If it can be packaged to the right size (both in terms of #EV's charged between H2 fill ups and physical space used is 1000 EVs a realistic size?) and delivered off the shelf may be by authorized distributors it could be a real winner.
Need to focus on the 4 Ps of marketing which hasn't recently been PLUGs strategy:
Product
Price
Place
Promotion
So true. California is telling people to buy EV but not to charge them. In comes PLUG
Hydrogen for EV Charging Stations Will Get More EVs on the Road
Where do you think the stock is heading by year end ?
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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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