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Look at FCEL $1.77
Last week $2.27
Next week $3.17
Next month $4.17
Next year $8.17
Next 2 years $16.17
won’t see $1.77 and $2.77 bye bye bye
Pause rates tomorrow , FCEL heading $5.50
Plug heading $30 , BE heading $30 like GE , GEHC and TSLA
I learned my lesson from GE , GEHC , TSLA
Won’t happen again
Double down and adding more shares before it heading high and higher
IRA money coming soon
Let chase like TSLA , GE
I buy FCEL and have patient waiting FCEL hit double digit , anyone sell loss will have to wait over 30 days to buy it back price won’t same when you sold it
Exxon will ink deal FCEL soon ,FCEL double digit
Good to see You thinking positive about FCEL
Heading to $5
A wash sale occurs when you sell or trade securities at a loss and within 30 days before or after the sale you: Buy substantially identical securities, Acquire substantially identical securities in a fully taxable trade, or. Acquire a contract or option to buy substantially identical securities
Sell FCEL as loss of FCEL rebound to $3 or $4 next month or 2
FCEL low $1.77 $2.61 last week
Fed ruin everything , who ever bought FCEL $20 still holding why not buy FCEL for less
FCEL heading $4.36
Fed pause rates next week
Carbon capture and storage is ‘no free lunch’, warns climate chief
IPPC chair Hoesung Lee says over-reliance on the technology could mean the world misses 1.5C target
Fiona Harvey in Bonn
Tue 6 Jun 2023 11.52 EDT
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Over-reliance on carbon capture and storage technology could lead the world to surpass climate tipping points, the head of the world’s climate science authority has warned.
Hoesung Lee, chair of the Intergovernmental Panel on Climate Change, said using technologies that capture carbon dioxide or remove it from the atmosphere was “no free lunch” and that countries should be wary.
Lee noted that the IPCC had found it was likely that global temperatures could rise by more than 1.5C above pre-industrial levels but could then be made to return to below 1.5C by the end of the century. “The jargon for that is the overshoot,” he said. “Carbon dioxide removal methods will be much in demand if that overshoot indeed occurs.”
“But there will be a cost to doing that. There’s no free lunch. And that cost includes that the longer the period of overshoot, there will be additional global warming, and there will be consequences of increased warming. There is also the possibility of positive feedback from that additional warming, creating more losses and damages during the overshoot period,” he warned. “So one wishes to avoid such an overshoot scenario.”
https://amp.theguardian.com/environment/2023/jun/06/carbon-capture-and-storage-is-no-free-lunch-warns-climate-chief-hoesung-lee
Bloomberg) – European leaders looking to tackle climate change should look to U.S. policy and “let the market work” to avoid driving companies away with prescriptive regulations, ExxonMobil Corp. Chief Executive Officer Darren Woods said.
Exxon to continue producing oil, gas while pursing carbon capture technology, CEO says- oil and gas 360
“I think it’s a huge mistake to be picking winners and losers and focusing on specific technologies,” Woods told the CEO Norway’s Wealth Fund, Nicolai Tangen, on his podcast. “Instead, we should be looking more broadly at letting the markets figure out which solutions provide the most emissions reductions for the lowest cost.”
Europe has been working with a greater sense of urgency since the Biden administration last year passed its Inflation Reduction Act, with $370 billion in tax subsidies to cut carbon emissions. The package is turbo-charging interest in carbon capture and storage technologies, which for years have been considered too expensive and prone to failure. Exxon, which has pledged to spend $17 billion through 2027 on low-carbon initiatives, is among the companies ramping up plans to capture emissions.
“Carbon capture is going to play a really important role. It is a technology that exists today. It’s one that we have a lot of experience in,” Woods said. “Think carbon capture and storage, think hydrogen, think biofuels, all of those recognized by credible third parties are going to be needed as part of the solution.”
While other oil majors are looking to develop wind farms and solar parks, Exxon is focused on technologies that dovetail with the company’s strengths, Woods said. “At the end of the day, we’re a molecule company, not an electron company.”
Even as it pursues carbon capture and storage technology, Exxon will keep pumping oil and gas, Woods said.
“If we stop producing diesel and gasoline, the world demand doesn’t change. Somebody else will meet that,” he said. “I stop growing liquefied natural gas and the world burns more coal.”
Norway’s wealth fund will require the companies it invests in to reach net zero emissions by 2050 at the latest. It recently voted in favor of a proposal calling for Exxon to adopt a medium-term target to reduce its customers emissions — known as Scope 3 — but the demand was rejected by a majority of shareholders.
https://www.oilandgas360.com/exxon-to-continue-producing-oil-gas-while-pursing-carbon-capture-technology-ceo-says/
FCEL break $2.61 heading $4.36
Think positive
Stop thinking negative FCEL
If do not like FCEL sell it
FCEL will be fine
Hydrogen Energy Storage Market to hit $17.6 Bn by 2032, Says Graphical Research Powered by GMI.
Major hydrogen energy storage market participants include Air Liquide, Air Products and Chemicals, Inc., Nel ASA, McPhy Energy S.A., Linde plc, ENGIE, ITM Power PLC, FuelCell Energy, Inc., GKN Hydrogen, Gravitricity Ltd, SSE, HYDROGEN IN MOTION, and Cockerill Jingli Hydrogen.
May 29, 2023 21:00 ET
Selbyville, Delaware, May 29, 2023 (GLOBE NEWSWIRE) --
Hydrogen Energy Storage Market is expected to cross a valuation of USD 17.6 billion by 2032 according to the recent research report by Global Market Insights Inc..
With the fuel cell vehicle deployment, governments are increasingly investing in hydrogen-based infrastructure. Globally, vehicle manufacturers and hydrogen producers are heavily spending on the deployment of fuel cell vehicles. This has led to steady development in hydrogen infrastructure networks. Over the coming years, the industry growth will increase with the rising automotive developments
Rising investments in liquid hydrogen storage systems
Hydrogen energy storage market share from the liquid segment was more than 14% in 2022. Liquid hydrogen is one of the cleanest energy sources currently available as it only emits water vapor when burned. The public and corporate sectors have both increased their investments to support the use of liquid hydrogen as a form of energy storage. The rising investments are expected to create new opportunities
https://www.globenewswire.com/news-release/2023/05/30/2677950/0/en/Hydrogen-Energy-Storage-Market-to-hit-17-6-Bn-by-2032-Says-Graphical-Research-Powered-by-GMI.html
Don’t think negative
I holding FCEL until I die
Won’t happen look at SIRI
A Ford-led consortium is testing hydrogen fuel cell technology on the E-Transit in a small UK-based prototype fleet developed by Ford Pro. The UK-based project will establish if hydrogen fuel cell technology can help to deliver enhanced zero-emission-driving range for E-Transit customers with energy-intensive use cases.
Part-funded by the Advanced Propulsion Centre (APC), Ford’s consortium of six automotive technology leader and fleet operator partners will also help to determine the supporting hydrogen refuelling infrastructure required.
Ford Pro, the company’s commercial vehicle (CV) and services division, will use the pilot to expand its conversion expertise, supported by on-site engineers and E-Transit specialists from the company’s Dagenham site and Dunton Technical Centre, in Essex, UK.
Ford believes that the primary application of fuel cells could be in its largest, heaviest CVs to ensure they are emission-free, while satisfying the high daily energy requirements our customers demand.
—Tim Slatter, chair of Ford in Britain
Ford’s hydrogen fuel cell E-Transit project with the APC will validate the vehicle’s business case by linking Ford with fuel cell powertrain experts and fleet operators including Ocado Retail. Other partners on the project are bp, capturing hydrogen usage and infrastructure requirements; Cambustion, testing the fuel cell system; Viritech, designing hydrogen storage systems; and Cygnet Texkimp, providing the pressure vessels’ carbon fiber tooling.
Ford has researched fuel cell technology since the 1990s, developing many prototypes, refining test fleet vehicles in partnership with customers, and in 2021 demonstrated an E-Transit fuel cell vehicle at the CENEX Low Carbon Vehicle Show. At a European level, Ford is still involved in a number of publicly-funded projects that are also exploring the use of hydrogen technologies, both for use with internal combustion engine-powered vehicles and fuel cells.
A test fleet of eight hydrogen fuel cell Ford E-Transits will run for six-month periods over the three-year project to 2025. The test fleet data will provide insights into the total cost of owning and operating a large van with enhanced zero-emission range and uptime that matches a diesel-powered equivalent.
The prototype Ford E-Transits will be fitted with a high-power fuel cell stack, in conjunction with significant hydrogen storage capability, optimized for safety, capacity, cost, and weight. An important project element will evaluate efficient and viable recycling for end-of-life components.
https://www.greencarcongress.com/2023/05/20230514-ford.html
Winners: Carbon capture and storage and hydrogen
The rules shine a spotlight on two lesser-known technologies.
Companies like NextEra Energy have already eyed clean hydrogen for its potential, and they may be right: the technology is named as an option for utilities to also use at gas and coal plants.
Carbon capture and storage, more controversially, also get a boost. There are only a few existing handfuls of examples of carbon capture and sequestration’s use in the US and around the world (and just as memorable examples of these plants shutting down because of shaky economic conditions). The EPA makes the case that this technology is ready for the primetime, though, because of new government investments bringing down its cost.
“Today’s proposed rules elevate the role of carbon capture by naming it as one of the available technologies for reaching emissions standards for new and existing fossil fuel-fired power plants,” said Jessie Stolark, executive director of the Carbon Capture Coalition, a group that represents corporate interests on carbon capture.
https://www.vox.com/platform/amp/policy/2023/5/13/23719080/environmental-protection-agency-limit-power-plant-pollution
EPA announces new rules to get carbon out of electricity production
John Timmer 05/11/2023 8:00 pm Categories: Science
View non-AMP version at arstechnica.com
Natural gas plants like these may find themselves burning hydrogen over the next 20 years.
Ron and Patty Thomas
Today, the Biden administration formally announced its planned rules for limiting carbon emissions from the electrical grid. The rules will largely take effect in the 2030s and apply to gas- and coal-fired generating plants. Should the new plan go into effect, the operators of those plants will either need to capture carbon or replace a large fraction of their fuel with hydrogen. The rules will likely hasten coal's disappearance from the US grid and start pushing natural gas turbines to a supplemental source of power.
Whether they go into effect will largely depend on legal maneuvering and the results of future elections. But first, the rules themselves.
Clearing the air
In 2007, the US Supreme Court ruled that the Clean Air Act applied to greenhouse gas emissions. This allows the EPA to set state-level standards to limit the release of greenhouse gasses, with the states given some leeway on how they reach those standards. Since then, the court has clarified that these standards must be met on a per-plant basis rather than at the grid level; the EPA can't set rules that assume that the grid has more generation from solar and less from coal plants.
The new plan reflects those rulings, creating compliance rules that need to be met by existing coal and natural gas plants. It also sets targets for any new natural gas plants brought into service but skips rules for new coal plants because there is no indication that anybody will ever want to build one. (And these rules make it even less likely that someone will.)
To meet those targets, the EPA assumes two nascent technologies continue to mature: carbon capture and storage, and the production of green hydrogen. (The latter is either produced using renewable energy or produced from fossil fuels with the carbon released in that process captured and sequestered.) Both of those technologies exist at present but have only recently started to move beyond small, demonstration-level projects. The new rules assume that they'll continue to scale up to the point where they can be applied to almost every fossil fuel plant within the US, starting in the early 2030s. Even if you're skeptical that will come to pass, the Clean Air Act simply calls for the "best system of emission reduction," and those two appear to be it.
https://arstechnica.com/science/2023/05/epas-new-rules-will-shift-power-plants-to-carbon-capture-green-hydrogen/amp/
If finalized, the proposed regulation would mark the first time the federal government has restricted carbon dioxide emissions from existing power plants, which generate about 25% of U.S. greenhouse gas pollution, second only to the transportation sector. The rule also would apply to future electric plants and would avoid up to 617 million metric tons of carbon dioxide through 2042, equivalent to annual emissions of 137 million passenger vehicles, the EPA said.
Almost all coal plants — along with large, frequently used gas-fired plants — would have to cut or capture nearly all their carbon dioxide emissions by 2038, the EPA said. Plants that cannot meet the new standards would be forced to retire.
Better air
The EPA anticipates the proposal will cost the power industry over $10 billion, while yielding health and climate benefits of around $85 billion.
It said the Inflation Reduction Act, President Joe Biden’s signature climate bill, will offer billions of dollars in tax incentives and credits that will bring down costs for deployment of CCS and green hydrogen, justifying its decision to base new standards on those technologies.
According to the proposal, new and existing large natural gas plants will be expected to install CCS that removes 90% of their carbon emissions by 2035, or alternatively to co-fire with 30% hydrogen by 2032 and 96% hydrogen by 2038.
https://www.climatechangenews.com/2023/05/11/after-court-blocks-renewables-push-us-promotes-carbon-capture-hydrogen/
Exxon has promised to inject billions of dollars into a new business line focused on what it calls low-carbon technologies such as carbon capture and hydrogen. The company has also brought outsiders into key senior roles, including leading the energy transition effort, which many see as a big cultural change at a company that historically promoted those steeped in the Exxon worldview into its upper ranks.
“Setting up a low-carbon solutions business, I would chalk that up as a definitive win for what we were talking about,” says James, whose campaign won three seats on Exxon’s board. “This was a company that was kicking and screaming going into the energy transition and then started talking about it after the campaign.”
But has Exxon changed? The company says it is pouring cash into lower-emission technologies to aid the climate fight. But critics note it is only about 10 per cent of overall spending over five years, and that the company remains fundamentally wedded to a future of ever more demand for fossil fuels — a future all serious climate models say would unleash huge environmental damage.
Some say this shift is less about a newfound belief in the need to transition to cleaner energy and more about taking advantage of the Biden administration’s flagship climate law, the Inflation Reduction Act, which includes generous subsidies for a range of green technologies.
https://www.ft.com/content/b79a9804-4f28-4945-a4bd-1144eb729e78
Breakthrough Tech’s Kickstarting the $11 Trillion Hydrogen Revolution
With favorable politics, improving tech and plummeting costs, hydrogen is set to “tip” into hypergrowth mode this year
9h ago · By Luke Lango, InvestorPlace Senior Investment Analyst
A hydrogen power source will be infinitely more energy-dense than a power source made with anything else.
Hydrogen – unlike other alternative energy sources such as solar and wind – is storable, packageable, and transportable.
The Hydrogen Economy will tip into its long overdue renaissance in the 2020s. And this will create what Morgan Stanley sees as an $11 trillion market in the coming decades.
https://investorplace.com/hypergrowthinvesting/2023/05/hydrogen-stocks-will-produce-the-next-tesla-in-its-11-trillion-revolution/
Toyota Sweetens Mirai Fuel Cell Pot With Hydrogen From Biogas
Toyota’s Mirai hydrogen fuel cell electric car could make a bigger impact on decarbonization than its sales figures suggest.
ByTina Casey
Published21 seconds ago?
No matter how dismal the future looks for its Mirai hydrogen fuel cell sedan, Toyota is not giving up or surrendering. Perhaps it is onto something after all. Even if the Mirai ultimately slides into the dustbin of automotive history, the car is helping to lay the groundwork for renewable hydrogen to play a leading role in global decarbonization
https://cleantechnica.com/2023/05/08/toyota-sweetens-mirai-fuel-cell-pot-with-hydrogen-from-biogas/amp/
An interactive map by the Clean Air Task Force, which has been tracking the hub proposals, shows New Hampshire is one of only four states (along with Florida, South Dakota, and Idaho) that have not joined at least one hub proposal.
It’s a “missed opportunity” for New Hampshire, said Evans-Brown, specifically the free federal money “especially if another state is taking a lead on writing the application.” It’s yet another instance of New Hampshire furthering its outlier status in the region when it comes to action on climate change and clean energy.
Evans-Brown believes the state’s absence from the regional effort is indicative of its relatively new Department of Energy – created in 2021 – that doesn’t have the capacity or staff to go after competitive grants.
“Across the board, it’s like pulling teeth to get state agencies to go after this stuff,” he said.
Outside of the regional initiative, lawmakers are still trying to ready the state for the future of hydrogen.
This week, Sen. David Watters testified in front of the House Science, Technology, and Energy Committee on behalf of a bill he introduced to support the development of green hydrogen in the Granite State.
“I don’t want New Hampshire to be the black hole where industry says don’t go there because you can’t get anything built,” Watters said. “… I want that investment to come here, both federal money and private dollars to come in, and I think we have huge potential here.”
https://newhampshirebulletin.com/2023/04/13/new-hampshire-sits-out-on-3-6b-northeast-clean-hydrogen-hub-proposal/
FuelCell Energy aims to commercialise carbon capture technology in cooperation with Exxon Mobil
By Vaughn Entwistle
on May 02, 2023
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NEWS CCUS
Fuel cell powerplants offer many advantages: high efficiency, low emission of pollutants, quiet operation, and quick installation.
FuelCell Energy offers the only known platform that can capture carbon from an external source while simultaneously generating power, something that other fuel cells and conventional absorption systems cannot do.
Power generation improves the net cost of capture economics, making the fuel cell a practical solution on the path to Net-Zero.
In many cases, the excess CO2 has potential to be sold or recycled into a valuable end-product. Once captured and concentrated, CO2 has many potential uses.
https://www.gasworld.com/story/fuelcell-energy-aims-to-commercialise-carbon-capture-technology-in-cooperation-with-exxon-mobil/
Exxon is shifting to focusing on technologies that it says can be scaled-up more quickly, such as carbon capture and hydrogen — move that was reinforced by subsidies for those technologies in the Biden administration’s Inflation Reduction Act, Exxon’s CEO Darren Woods said during the company’s fourth quarter earnings call.
“Our business requires that we make decisions around the commercial viability of R&D projects,” Spitler said. “We announced plans to invest $17 billion in lower emission initiatives from 2022 to 2027. This includes investments in carbon capture and storage, hydrogen and other biofuels.”
https://coloradosun.com/2023/03/06/algae-biofuel-mines-nrel-exxon/
Carbon Capture Is Beginning To Take Off
By Tsvetana Paraskova - May 02, 2023, 5:00 PM CDT
Carbon capture projects and carbon removal credits have received new impetus with major government support over the past year as part of the solutions to cut greenhouse gas emissions and put the world on track to reach the Paris Agreement targets.
In the U.K., the Spring Budget in March made up to $25 billion (£20 billion) available for Carbon Capture, Utilization and Storage (CCUS), while the U.S. Inflation Reduction Act has significantly raised the incentives for carbon capture projects, including direct air capture (DAC).
As governments move to back carbon capture projects and corporations look to reduce their carbon footprint, the market for carbon removal projects and carbon removal credits is expected to thrive in the coming years.
The schemes face criticism from environmental advocates who say that carbon removal credits do not address the problem of emissions reduction and could lead to more greenwashing from the big polluters.
Government Support Accelerates Carbon Capture Projects
The U.K. government pledged to provide up to £20 billion in funding for early deployment of Carbon Capture, Usage and Storage (CCUS) to help meet the government's climate commitments.
The government recognized the Viking CCS project as one of two leading transport and storage system contenders for the next phase of projects. This has incentivized supermajor B.P. to enter into an agreement with Harbour Energy, the biggest oil producer in the U.K. North Sea, to develop the Viking CCS project.
In the United States, the IRA increased credit values across the board, with the tax credit for carbon storage from carbon capture on industrial and power generation facilities rising from $50 to $85 per ton, and the tax incentives for storage from DAC jumping from $50 to $180 per ton. The provisions also extend the construction window by seven years to January 1, 2033. This means that projects must begin physical work by then to qualify for the credit.
Related: WTI Crude Falls 4% As Economic Fears Trigger Selloff
The significantly higher incentives in the IRA are giving impetus to projects.
"The CCS market has just taken off," Nick Cooper, CEO at carbon capture and storage developer Storegga, told the Financial Times.
"This feels a bit like the U.S. shale boom 15 years ago".
The historic legislation "builds the foundation for a budding direct air capture industry in the U.S.," says Aaron Benjamin, UK and Europe Lead at Direct Air Capture Coalition.
"Above all, the IRA sends a strong signal to the rest of the world that the U.S. is backing the reality of a carbon capture and removal industry," Benjamin added.
New Life For Carbon Capture Projects
The IRA and the growing commitment of companies - from banks to the fashion industry - to become carbon neutral within a decade or two are spurring construction projects in the U.S. and the U.K.
Occidental, for example, via its subsidiary 1PointFive, held last week a groundbreaking ceremony for its first Direct Air Capture facility in the Permian basin in West Texas. The facility, STRATOS, will be the world's largest direct air capture facility, expected to capture up to 500,000 tons of CO2 per year. It will be the first of many such plants Oxy and 1PointFive plan to build, the oil giant says.
DAC is the most expensive application of carbon capture, the International Energy Agency (IEA) says. Capture cost estimates for DAC are estimated at between $125 and $335 per ton of CO2 for a large-scale plant built today.
But the incentives in the IRA could bridge the gap in costs, analysts say.
Carbon Removal Deals Abound
Companies are signing long-term carbon credit agreements with developers of carbon capture technologies, which supports the investment case of CCS projects, according to experts.
Just last month, major deals for carbon removal and credits were signed.
NextGen, a joint venture of climate project developer South Pole and Mitsubishi Corporation, announced the advance purchase of 193,125 tons of carbon dioxide removals (CDRs) from carbon removal projects, including from 1PointFive's DAC project in Texas.
Partners Group, a global private markets firm, signed last month a 13-year agreement with Climeworks, a Swiss provider of carbon dioxide removal via direct air capture. Partners Group announced last year that it would develop a decarbonization program to achieve net-zero corporate greenhouse gas emissions by 2030.
"While a priority of the program will be to reduce the firm's overall emissions, removing residual emissions via capture and storage of atmospheric CO2 will also play a role in achieving the net zero goal," Partners Group said.
"High-quality carbon removal must be scaled to gigaton level by 2050, and multi-year agreements like this one are a crucial lever," said Christoph Gebald, co-founder and co-CEO of Climeworks.
"Partners Group's commitment to high-quality carbon removals underlines the leading role of the financial services industry in this scale-up."
Climate groups, however, are not convinced that carbon removal deals would accelerate global emissions reduction.
For example, the European Commission's proposed Carbon Removal Certification Framework (CRCF) "leaves many important questions unanswered and vital issues unaddressed, and could usher in an era of greenwashed and money-wasting carbon removals," non-profit think tank Carbon Market Watch says.
In the EC's draft regulation, "there is a risk for the framework to be turned into a greenwashing exercise and provide another excuse for big polluters to avoid cutting their emissions," according to WWF.
https://oilprice.com/Energy/Energy-General/Carbon-Capture-Is-Beginning-To-Take-Off.amp.html
Long-haul trucking is a highly promising use case for the US hydrogen industry, and California and Texas are two large potential markets for pioneering hydrogen-fueled trucking. Both states have excellent green hydrogen potential and are taking initial steps to become hydrogen trucking hubs. When it comes to decarbonizing heavy-duty transportation, hydrogen is here for the long-haul.
Cleaning up hydrogen
Today, the vast majority of hydrogen is produced from reforming the methane in coal or natural gas in a process that produces ten times more carbon dioxide than hydrogen by mass. It is principally used for refining heavy sour oil and producing ammonia for fertilizer.
https://www.atlanticcouncil.org/blogs/energysource/green-hydrogen-loaded-up-and-long-haul-trucking/
What is the IRA benefit of hydrogen?
On average, the IRA tax credits for renewable electricity and clean hydrogen can reduce the cost of green hydrogen production by almost half, falling to nearly $3 per kg hydrogen for a project starting in 2023. The credits' impacts fade steadily after 2023, until they expire in 2032.Jan
Exxon Excited About $6 Trillion Decarbonization Business
by
Vasil Velev
April 6, 2023
2 minute read
Exxon Excited About Decarbonization Business - Carbon Herald
In a presentation to investors earlier this week, Exxon CEO Darren Woods and the company’s president of Low Carbon Solutions Dan Ammann, said the company’s decarbonization arm has the potential to surpass oil and gas revenue.
“The world’s climate challenge is immense, and the opportunity it creates is equally immense,” said Darren Woods, during the presentation, which contained projections that the addressable market can be $6 trillion by 2050.
https://carbonherald.com/exxon-decarbonization-business/
Exxon Excited About $6 Trillion Decarbonization Business
by
Vasil Velev
April 6, 2023
2 minute read
Exxon Excited About Decarbonization Business - Carbon Herald
In a presentation to investors earlier this week, Exxon CEO Darren Woods and the company’s president of Low Carbon Solutions Dan Ammann, said the company’s decarbonization arm has the potential to surpass oil and gas revenue.
“The world’s climate challenge is immense, and the opportunity it creates is equally immense,” said Darren Woods, during the presentation, which contained projections that the addressable market can be $6 trillion by 2050.
“(This business)… is going to have a much more stable, or less cyclical, profile,” added Dan Ammann.
The investor presentation provided details about the five energy-related sectors Exxon will focus its efforts – electricity generation (which generates 40% of CO2 emissions as of 2021), industrial (28%), commercial transport (14%), light-duty transport (10%) and residential/commercial (10%).
The $6 trillion figure for the potential size of low-carbon markets (called “Molecules” by the company) consists of carbon capture, hydrogen and biofuels and is part of a broader $14 trillion market that also includes wind, solar, geo/hydro and nuclear.
https://carbonherald.com/exxon-decarbonization-business/
US Postal Service Carrier Orders 50 Fuel Cell Trucks From Nikola
The California firm AJR Trucking will use its new zero emission fuel cell trucks from Nikola Motor to haul mail for the US Postal Service.
ByTina Casey
Published2 hours ago?
Nikola Motor seems to have not gotten the memo about the demise of fuel cell electric vehicles. Nikola has just nailed down an order for 50 Class 8 fuel cell trucks from the Los Angeles firm AJR Trucking. In the big world of trucking, 50 trucks is not a particularly impressive figure. However, the news is significant because gives Nikola a big bump-up for its footprint in the US, and because AJR happens to be a longtime carrier for the US Postal Service, which is under pressure to electrify.
50 Nikola Class 8 Fuel Cell Trucks Are Heading This Way
CleanTechnica’s Tim Tyler covered the news earlier this week here, when Tom’s Truck Center of California announced that it has put down a 50-truck order from Nikola for its two dealerships. To put that number in perspective, on March 29th, Nikola announced that it finally reached the 100-unit milestone for total sales of its Tre fuel cell trucks in the US, which it first teased all the way back during the Obama administration.
Nikola has weathered a series of fits and starts since launching its zero emission journey in 2014 (see our complete coverage). The company has had somewhat better luck cracking the fuel cell truck market in Europe, one recent example being a 100-truck commitment from the integrated energy firm GP Joule.
What About The Fuel For Those Fuel Cell Trucks?
If you want to buy some of Nikola’s Class 8 fuel cell trucks from Tom’s Truck Center, get in line. It appears that the leading US shipping company AJR Trucking has already staked a claim to all 50 trucks.
In a press release dated May 2, Nikola re-announced the news from AJR Trucking, which issued a press release of its own on May 1. AJR took note of the copious tax incentives provided to zero emission Class 8 truck buyers in California.
With an assist from Nikola and Tom’s, AJR expects to receive $270,000 per truck from California’s point-of-sale incentives, and another $40,000 per truck in federal tax credits from the federal Inflation Reduction Act.
If you’re wondering where AJR expects to fuel up its new fuel cell trucks, that’s a good question. Fuel cells run on hydrogen, and hydrogen fueling stations are few and far between here in the US.
The solution cooked up by Nikola is a fleet of mobile hydrogen fueling stations, with which AJR expects to engage.
For the record, the global hydrogen market of today is almost entirely dependent on hydrogen extracted from natural gas, and coal to a lesser extent.
On a brighter note, the cost of green hydrogen from water and other renewable sources is beginning to come down (our complete coverage is here). Nikola has been jumping on a number of opportunities in the green hydrogen field, including partnerships with Plug Power, Fortescue Future Industries, and the Canadian company Klean Industries.
More Alternative Fuel Vehicles For The US Postal Service
AJR already has a plan for those new fuel cell trucks. The plan is to deploy the new trucks for the US Postal Service, as the next step in a 30-year mail hauling relationship between the agency and AJR.
“We look forward to working with Nikola and USPS to integrate the FCEVs into our mail hauling operations starting in Southern Calif. and envision expanding the use of these trucks throughout our operations nationwide,” said Jack Khudikyan, who is the owner of AJR.
“AJR Trucking has been performing mail hauling operations for USPS for over 30 years and prides itself on being a leader in the deployment of the latest truck technology and supporting the advancement of alternatively fueled vehicles into its fleets,” the company added.
AJR also notes that it was among the first to introduce compressed natural gas to the US Postal Service fleet. The company is currently sourcing its gas from renewable feedstocks through a partnership with the alternative fuels company U.S. Gain, a subsidiary of the diversified firm U.S. Venture.
https://cleantechnica.com/2023/05/03/us-postal-service-carrier-orders-50-fuel-cell-trucks-from-nikola/amp/
Global Hydrogen Fuel Cell Market Report 2023: Reduced Dependency on Non-conventional Energy Sources Fuels the Sector
Research and Markets
Wed, 3 May 2023 at 6:53 am GMT-7·5-min read
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Dublin, May 03, 2023 (GLOBE NEWSWIRE) -- The "Hydrogen Fuel Cell Market by Type, Application, End-user: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global hydrogen fuel market size was valued at $2.7 billion in 2021, and is projected to reach $5.7 billion by 2031, growing at a CAGR of 8.1% from 2022 to 2031.
Key Market Players
AFC Energy
Nedstack Fuel Cell Technology
Doosan Fuel Cell Co. Ltd.
Ballard Power Systems
SFC Energy AG
FuelCell Energy, Inc.
Ceres
Plug Power Inc.
Bloom Energy
Intelligent Energy
A fuel cell is an electrochemical device that uses two redox processes to transform the chemical energy of a fuel (typically hydrogen) and an oxidizing agent (commonly oxygen) into electrical energy. In contrast to most batteries, fuel cells require a constant supply of fuel and oxygen to sustain the chemical reaction.
Electricity is generated by using hydrogen to operate a hydrogen fuel cell. Hydrogen Fuel Cell Vehicle possess high potential to reduce emissions related to the transportation sector. They do not produce any greenhouse gas (GHG) emissions during vehicle operation.
The increased environmental concerns, increased government initiatives for the construction of hydrogen fuel cells infrastructure, expensive initial infrastructure investment, and technology advancement are all significant factors influencing the growth of the global hydrogen fuel cells market.
https://uk.finance.yahoo.com/news/global-hydrogen-fuel-cell-market-135300870.html
Government urged to speed up green hydrogen deployment
03 May 2023
Professional Engineering
'The UK has the potential to become a global leader in green hydrogen' (Credit: Shutterstock)
'The UK has the potential to become a global leader in green hydrogen' (Credit: Shutterstock)
A renewable energy organisation has urged the government to work closely with the UK’s “world class green hydrogen industry” to speed up deployment of major new projects.
Government policies could kickstart a “major new green energy industry”, according to a report published today (3 May) by trade organisation RenewableUK.
The document, Surveying the UK’s Green Hydrogen Supply Chain Capability, warns that the UK stands at a “critical juncture”, with other countries taking steps to move ahead in the global race to create thousands of jobs and attract billions in private investment in the decades ahead.
Green hydrogen is made using zero-carbon power in electrolysers that split water into hydrogen and oxygen. The UK is home to world renowned electrolyser companies like ITM Power and Ceres, whose cutting edge technology has been licensed worldwide, RenewableUK said.
The country’s pipeline of electrolyser projects stands at 1.5GW, with a significant amount of new capacity expected to enter the pipeline soon, although only 4MW are fully operational. The government has set a target of 10GW of low carbon hydrogen production capacity by 2030, at least half of which will be green hydrogen.
To reach this target, the report recommends building multiple large projects as soon as possible, to demonstrate there is a viable market for investors and suppliers. Government support schemes, such as the Hydrogen Business Model and the Net Zero Hydrogen Fund, could play key roles in this and so should be sped up, the report says.
“If the UK does not step up, it risks being left behind due to ambitious tax incentives and subsidies offered abroad, such as the United States Inflation Reduction Act, which may attract investment and prospective suppliers away from this country,” a RenewableUK announcement said.
“The report recommends that ministers should consider consulting with the industry and setting up a joint working group to establish how tax incentives and other financial institutions, such as the UK Infrastructure Bank, could be used to make the UK a more competitive market for investment in the green hydrogen supply chain.”
The report also recommends the creation of a new government-industry taskforce, to establish a ‘roadmap’ setting out how the UK can reach at least 5GW of green hydrogen by 2030. New pipelines will be needed to carry green hydrogen, both locally and to markets in Europe, as well as underground storage in disused gas fields.
Most green hydrogen will be produced using electricity generated by offshore wind, the announcement added, so a detailed study of how those technologies can operate alongside each other could help create more flexibility in the electricity system and strengthen Britain’s energy security.
“The UK has the potential to become a global leader in green hydrogen,” said RenewableUK senior policy analyst Laurie Heyworth.
“We’re at a pivotal moment at which we can take decisive strategic action, enabling us to seize the opportunity to deliver growth and jobs by developing robust local supply chains in the burgeoning green hydrogen industry, creating opportunities to export our technology worldwide.
“But the development of green hydrogen has been hampered by a lack of clear policy direction and investment in comparison to blue hydrogen made from fossil fuels. Delays in bringing in vital financial support mechanisms have slowed down our ability to build projects on a scale big enough to act as proof points for investors and suppliers to enable us to grow our domestic supply chain.
“This report sets out how these issues can be addressed, with industry and government working together to maximise the economic and environmental benefits which this innovative technology offers.”
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Content published by Professional Engineering does not necessarily represent the views of the Institution of Mechanical Engineers.
https://www.imeche.org/news/news-article/government-urged-to-speed-up-green-hydrogen-deployment
FuelCell Energy aims to commercialise carbon capture technology in cooperation with Exxon Mobil
By Vaughn Entwistle
on May 02, 2023
Fuel cell powerplants offer many advantages: high efficiency, low emission of pollutants, quiet operation, and quick installation.
FuelCell Energy offers the only known platform that can capture carbon from an external source while simultaneously generating power, something that other fuel cells and conventional absorption systems cannot do.
Power generation improves the net cost of capture economics, making the fuel cell a practical solution on the path to Net-Zero.
In many cases, the excess CO2 has potential to be sold or recycled into a valuable end-product. Once captured and concentrated, CO2 has many potential uses.
Typical examples of industrial uses for CO2 are beverage bottling, meat processing, and cooling for frozen food. It can also be used to make dry ice, applied to water treatment processes, or aid in the production of cement and plastics.
FuelCell Energy’s carbonate platform is so named for its electrolyte, which is made from potassium and lithium carbonates. The carbonate atoms migrate between the fuel and air electrodes. Carbonate fuel cells operate at a relatively high temperature, about 1000 degrees F.
Fuel Cell Energy is currently working toward achieving large scale commercialisation of its technology.
Jason Few, President and Chief Executive Officer of FuelCell Energy commented, “We believe that this technology will address one of the largest environmental challenges of today, CO2 emissions from industrial and commercial exhaust streams and power generation. We see market demand across various commercial and industrial segments to scale and commercialise our unique carbon capture solution, which captures carbon dioxide from various exhaust streams, while generating additional power and hydrogen. We believe our carbon capture solution is the only solution that can capture carbon while producing electricity and hydrogen at the same time. Traditional amine solutions penalise power output by 20-35% of total power production.”
In a typical FuelCell Energy application, combustion exhaust from an external source, such as a flue stream, is directed to the fuel cell, which electrochemically reacts with fuel and air to produce power, while capturing and concentrating carbon dioxide for use or permanent storage. The modular design enables the technology to be deployed at a wide range of locations, operate at high efficiency, and advance business goals at hard-to-decarbonise industrial and commercial applications.
The carbonate fuel cells can run on natural gas or biogas, both of which contain methane, a potent greenhouse gas. However, inside the fuel cell, methane is steam-reformed at 600 degrees Celsius and converted into hydrogen and CO2. The fuel cell produces electricity, heat, water, and CO2, which can be exhausted or captured to be recycled into a valuable end-product.
FuelCell Energy’s plants produce additional power rather than consume it during the carbon capture process. Since there is no burning of the fuel source during the electrochemical process, air emissions are minimal and much lower than traditional combustion systems.
https://www.gasworld.com/story/fuelcell-energy-aims-to-commercialise-carbon-capture-technology-in-cooperation-with-exxon-mobil/2123090.article/