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Does this mean that the plan is for construction to start in 2026, or for commercial operations to start for real in 2026 ??
"We plan to take our #CCS expertise further starting in 2026 with a pilot project for Carbonate Fuel Cells (CFC) at our manufacturing site in Rotterdam, alongside FuelCell Energy."
I respect everyone's political views.
However, I think we can all agree that the man in this video is sadly not physically or mentally able to serve the country any longer. Let's be honest. This is sad.
https://www.google.com/search?sca_esv=e88f0e6c9c1a762d&sca_upv=1&q=biden+juneteenth&tbm=vid&source=lnms&fbs=AEQNm0CvspUPonaF8UH5s_LBD3JPsLt3iVi1ADG6L3-aaxxkBvONud3B_END6F_s_jMhjE1rH6rTCezxXsq0YwRhWG-0eev7qx8cWO5KltjOBAFXjrJ_Kxddqm0sqHBcq_sdhBIod8KA61mivAyuh0IGixMDEz4Hjib2j3jWc-PRpNkxJ-XFbrQdBkhkZdfbQbmwOcFC-4xbLF_udFz8BiG3ZcYRMDi6NA&sa=X&ved=2ahUKEwiG8LPQxdOGAxULoa8BHdk8JNEQ0pQJegQICxAB&biw=1024&bih=474&dpr=1.88#fpstate=ive&vld=cid:97ef1a92,vid:0vpIF65ISZU,st:0
Taiwan Minister touts AI data center power plans
https://www.taipeitimes.com/News/biz/archives/2024/06/06/2003818918
Taiwan has a new President who is in favor of Hydrogen. FCEL should pursue business in Taiwan. I wrote to FCEL directly already but of course they did not respond.
Nobody loves oil and coal besides those few who may work or oil companies.
But most people see Natural Gas as very clean, and especially see decarbonized Natural Gas as very very clean. And we all understand that Decarbonized Natural Gas = CCS and H2.
I have followed the politics as closely as anyone, and it is clear to me that Biden/Harris/Whoever do not support Decarbonized Natural Gas / CCS / H2 (regardless of what they say) and instead literally only support solar and wind, which is 100% not practical on very many levels, which I will not discuss because if it is not clear to anyone, then there is no use in discussing it.
So, I believe that your statement is based on oversimplification and is actually not accurate pertaining to FuelCell Energy's technology and well-being.
I agree that Trump did nothing for H2 and fuel cells. He gave lip service to clean coal but that was all. His selection of Rex Tillerson petered out into nothing as far as fuel cell potential.
On the other hand, although Biden Harris and others talk a good game about alternative energy, the reality is they are all in for only solar and wind and literally nothing else. All their talk about H2 and fuel cells is just talk. In fact their actions are totally destructive as the unwarranted and unprecedented and unconstitutional 2+ year delay on implementing the agreed upon law for 45V H2 tax credits is unforgivable.
Whoever chooses a VP who says they are willing to promote 'all of the above' and innovation, and specifically champions ccs and h2, then I am definitely grateful that these issues may be brought up, and perhaps may even be a significant part of the debate for the next election.
"Innovation, not Regulation"
I have heard Manchin say this a lot, and now Burgum. It means using CCUS and H2 tech.
But unfortunately journalists never ask them to elaborate on 'innovation', so nobody knows what they are talking about. Hopefully this will change if Burgum is a VP candidate and can bring this H2/CCS Innovation to national attention.
NYT scared of Burgum!
https://www.nytimes.com/2024/06/09/climate/burgum-energy-trump-oil.html
Pathetic attempt to malign Carbon Capture and 'All of the Above' energy policy. They are scared to acknowledge Hydrogen. Sad!
Burgum will shine the light on their twisted agenda!
Please can this guy be VP or Secretary of Energy? Thank you.
Company execs boast future 'hydrogen hub' in North Dakota
https://www.thedickinsonpress.com/business/company-execs-boast-future-hydrogen-hub-in-north-dakota
...
Gov. Doug Burgum joined executives from Mitsubishi Power Americas and the North Dakota producer Bakken Energy to disclose a potential deal to acquire the financially-addled Great Plains Synfuels Plant, currently owned by the utility co-op Basin Electric, and convert it into the "largest producer of clean hydrogen in North America" — a first step in broader ambitions to establish North Dakota as a "world-class hydrogen hub.
Please can this guy be VP or Secretary of Energy ? Thank you.
Company execs boast future 'hydrogen hub' in North Dakota
https://www.thedickinsonpress.com/business/company-execs-boast-future-hydrogen-hub-in-north-dakota
...
Gov. Doug Burgum joined executives from Mitsubishi Power Americas and the North Dakota producer Bakken Energy to disclose a potential deal to acquire the financially-addled Great Plains Synfuels Plant, currently owned by the utility co-op Basin Electric, and convert it into the "largest producer of clean hydrogen in North America" — a first step in broader ambitions to establish North Dakota as a "world-class hydrogen hub.
One example of Burgum's ideas for CCS/H2:
https://www.inforum.com/news/north-dakota/company-proposes-upcycling-minnesota-iron-mine-waste-in-central-north-dakota
I want this guy in charge of US Energy. LFG!
My new H2-Man-Crush:
Doug Burgum, governor of North Dakota and big fan of Carbon Capture.
This guy is probably going to be either Trump's VP pick or potential choice for Secretary of Energy.
Trump's previous pick of Rick Perry was a total nothing-burger for H2/CCS.
Biden-Harris administration has had four years to show their true colors. Unfortunately, their great H2 words were not matched by deeds, actually the exact opposite as 45V makes obvious to anyone unbiasedly paying attention.
Burgum as VP or DOE secretary would be a game-changer for CCS and H2.
Might be our only hope come November.....
Hmmmm....3,000 Youtube comments on this video which shows amazing 45V H2 tax credit exchange.
No interest on FCEL ihub board.
Hmmmm....3,000 Youtube comments on this video which shows amazing 45V H2 tax credit exchange.
No interest on FCEL ihub board.
p.s. ..... Look at the YouTube comments in that Yellen/Manchin video.
Wow! I have rarely seen virtually every single comment in agreement when there are politics/politicians involved. Seems like everyone supports Manchin on this H2 issue. I wonder if Ds will understand this and change the 45V tax credits, if for no other reason, then for pure political points. But who knows what promises they have already made, and to whom? ...?
Manchin Questions Treasury Secretary On Inflation Reduction Act Implementation, Back To Work Act
Anyone who cares about 45V status should watch this, starting at about 5:50 in the video.
Sad to see Grandma Yellen bumble and mumble through things, pretending that she doesn't understand what is really going on.
Manchin is Moderate/'All of the Above Energy' guy who supports H2. If either Ds or Rs picked him as VP then they would win election. But everyone loves "their side" so that's not going to happen.
Japan and EU agree to work on creating hydrogen demand and supply
https://www.japantimes.co.jp/environment/2024/06/04/energy/japan-eu-hydrogen-cooperation/
Thanks Max for those links.
I do not understand all the rules - but I did search on the word 'discretion' and it came up 22 times in that document. So, it seems like the rules are not set in stone for companies that are slighltly under $1.
Regardless, it seems to me that if there is any good news/good earnings/good permitting/good 45v sanity then there will be clear sailing over $1 and no problems. If not, there will be more problems.
While Reverse Splits are usually bad, I have owned a biotech previously that reversed split 1-for-10 to yield $10/share, and soon after it was bought out at $100/share. So reverse splits seem bad not necessarily a big deal - imo the bigger issues are the 45v/new contracts/H2 acceptance, etc.
No dude, I specifically schooled you on every single point. You attempt to generalize and ignore all of the issues. Therefore, it's time for you to go back under your Ignore rock.
Your attempts to justify filthy and expensive Solar panels don't cut it.
Back onto ignore you go!
Just as Big Oil has $$ protecting vested interests, so does Big Solar.
Need specific evidence, just ask Hunter and the Big Guy. You don't have to be too bright to understand what "Chinese Energy Companies" are asking for when there is money changing hands.
Nice try Mojo but your attempt to dismiss the issues fails on all levels. (see below).
Also, after installation, your points are not valid.
Solar is not at all cheap as you claim, only highly subsidized.
Nor is it environmentally friendly, as hundreds of miles of copper wire are needed. Have you ever seen the humongous pits of a copper mine and the huge diesel trucks involved? And ever consider the vast energy and toxicity involved incopper refining?
Oh yeah, and after all of these huge issues then of course solar only works for a few hours each day. Great.
Facts about Natural Gas-based Hydrogen:
1) Renewable - Natural Gas is generated from within the molten core of the earth and is a natural process of the earth which has emitted since the beginning of the earth. (The term 'fossil fuel' was coined by the oil companies to pretend that their product was rare and therefore worth a lot (similar to diamonds)).
2) Clean - no toxiciy. Burning Nat Gas safe enough for home use, unlike coal or oil/gasoline. Carbon capture can decarbonize natural has.
3) Green - very small environmental footprint.
4) Affordable - H2 using Nat Gas is affordable, although the additional step of CCS/'Blue' Hydrogen does incur costs which justly deserve subsidies (as solar panels have had for 30 years) to level the playing field.
5) Nothing to recycle
But other than that, they are great!
California clean energy project threatens thousands of protected Joshua trees: reports
https://www.foxnews.com/us/california-clean-energy-project-threatens-thousands-protected-joshua-trees-reports
Sad!
Facts about Solar Panels/Batteries:
1) Not Renewable (production and distribution require fossil fuels and strip mining of limited minerals)
2) Not Clean (refining produces highly toxic waste during manufacuring)
3) Not Green (installation requires natural landscape and ecosystem to be destroyed)
4) Not Affordable (Prices are highly subsidized by taxpayers)
5) Not Recycleable (they will end up in landfills, leaching toxic chemicals for centuries)
But other than that, they are great!
Air Products unveils plans for statewide hydrogen station network in California
https://www.gasworld.com/story/air-products-unveils-plans-for-statewide-hydrogen-station-network-in-california/2139390.article/
I wonder if their MOU with FCEL will ever amount to anything.....
Air Products Sign MOU With FuelCell Energy To Market Stationary Fuel Cell Power
https://www.rttnews.com/1841109/air-products-sign-mou-with-fuelcell-energy-to-market-stationary-fuel-cell-power.aspx
Germany to Fast Track Hydrogen Projects to Cut Carbon Emissions
https://www.bloomberg.com/news/articles/2024-05-29/germany-to-fast-track-hydrogen-projects-to-cut-carbon-emissions
ExxonMobil Urges EU to Remove ‘Policy Hurdles’ Slowing Oil Industry’s Hydrogen Plans
https://www.desmog.com/2024/05/22/exxonmobil-urges-eu-to-remove-policy-hurdles-slowing-oil-industrys-hydrogen-plans/
Indonesian Govt to mandate all vehicles to be hydrogen-based in IKN
https://www.thestar.com.my/business/business-news/2024/05/21/govt-to-mandate-all-vehicles-to-be-hydrogen-based-in-ikn
"JAKARTA: The government wants to mandate all vehicles in the future capital city of Nusantara (IKN) to be based on hydrogen, in a move that appears to mark a shift from its initial focus on battery-based electric vehicles (EVs) in the planned new capital in East Kalimantan."
Honda to Debut Class 8 Hydrogen Fuel Cell Truck Concept at ACT Expo 2024
https://hydrogen-central.com/honda-to-debut-class-8-hydrogen-fuel-cell-truck-concept-at-act-expo-2024/
"“Honda is actively seeking business collaborations and customers to help bring these hydrogen fuel cell solutions to market here in North America.”
Theoretically, a company will sell shares at a high price, for the overall benefit of the company and shareholders. They may even release news or other things to drive the price up beforehand.
Realistically, many companies will do the exact opposite. That is, they sell shares at the absolute lowest price. The existing shareholders are hurt but those large insiders who are allowed to buy the free/cheap shares benefit.
OK Max - I think I get it.
This is not a power plant in Rotterdam. It is a refinery. So, the number of modules and the metrics are not the same as it would be for a power plant, and it is not measured in MWs, I guess.
Thanks to everyone for the info. It helps me understand.
I look forward to Rotterdam completion - but still seems like a turtle's pace for Exxon to be demonstrating FCEL tech. Why can they not - in parallel - be demonsrating 90% capture at one of their many power plants? Well ... whatever ... I hope FCEL/Exxon come through in the long run ....
Max you said this:
"While you are correct that a 500MW power plant would require 35-40 2.8MW modules...this Rotterdam project is not that."
I don't know how you know this to be true or not. I am in agreement that it is most likely true. But I only base that on the $11 million figure that has been thrown around. I have not heard anything else about the number of modules or the capture rate for the apparently 500 MW power station.
I am at a loss to understand why they would not capture at 90% and then proudly tell the world that they have the very best system to be used throughout the world. There must be some reason for that. Because after 3 years more, to then say that they have successfully captured 5% or 10% at this plant will be totally laughable and inconsequential and just such a joke because the entire world is going to require 90%, and all of the political discussion is centering around the fact that CCS cannot cut it at scale, and therefore all of CCS and all of blue hydrogen should never be supported because it is a dead end and only green hydrogen and solar panels and wind should be the only avenues for public policy.
Maybe I'm wrong about some of my assumptions, such as the size of the power plant being 500 megawatts. Maybe it is only 50 megawatts or something like that and that is considered to be 'at scale'. But that is not how I understand the issue as it is being discussed politically in all the articles I have read regarding the EPA rules for CCS.
Anyway, like I said it would sure be nice to get clarity from Exxon and/or FCEL. Not sure why there is no clarity.
Carbon capture plan faces doubts after $2.4-billion project cancelled
https://www.theglobeandmail.com/business/article-capital-power-alberta-carbon/
CCS Tax Credits are the key issue in all this. So many politicians saying that climate change will literally kill us all. Yet they will not give sufficient tax credits to save us all. smh.
My point about the 90% capture rate:
I understand that FCEL and Exxon have both said 90% capture is possible. Therefore I wonder why if FCEL/Few have not been forthcoming with information about the project. From what I understand the modules are currently under construction so why should we have to guess as to how many modules this will entail? Will it be one 2.8 MW module or will it be more like 35 such modules? And if it is 35 modules, which from what I understand is necessary to capture 90% at a 500 megawatt power plant, then will they basically be giving them away for free to Exxon for 11 million dollars? Or are the terms something much different than that?
Why do we need to debate this here why do we need to ask ourselves what's going on? why is neither Exxon nor FCEL forthcoming with the information which apparently has already been determined because the modules are apparently under construction? Why are the analysts not asking these questions?
This is a huge issue because not only has Biden mandated that future new gas plants will need 90% capture rate but the G7 countries and soon probably the rest of the world will be moving that way. And there is serious doubt whether anybody can provide 90% carbon capture at scale (meaning for real at a 500 mw plant) to do this. So one would think under normal business conditions if a company like fuel cell is the first to be able to do this, then they would be singing the praises so high and yelling that they have a project which will soon deliver on the 90% capture rate. And the financial terms would not be a secret. But it is the opposite. There is no clarity. Why?
Exxon and FCEL have both repeatedly stated for years that CCS was possible at 90% rate.
So why not 90% in Rotterdam?
Makes no sense unless games/politics are in control.
https://corporate.exxonmobil.com/what-we-do/delivering-industrial-solutions/carbon-capture-and-storage/advanced-carbonate-fuel-cell-technology-in-carbon-capture-and-storage
The world’s most advanced economies just agreed to end coal use by 2035 – with a catch
https://sg.news.yahoo.com/g7-agrees-shut-down-coal-170656815.html
OK - so Rotterdam is worth $11 million ?
It seems hard to get excited about this.
Thanks for all the info - I wish the numbers were much better ....
What's all this $$$ about ??
Is this part of the Rotterdam deal ..... ??
(from previous post ....)
Remaining Performance Obligations
Remaining performance obligations are the aggregate amount of total contract transaction price that is unsatisfied or partially unsatisfied. As of January 31, 2024, the Company’s total remaining performance obligations were: $140.4 million for service agreements (expected to be recognized as revenue over approximately three to fifteen years which is based on the remaining term of the service agreements), $346.0 million for generation power purchase agreements (“PPAs”) (expected to be recognized as revenue over approximately nineteen to twenty years based on the PPA terms remaining), $18.3 million for Advanced Technologies contracts (expected to be recognized within approximately two years) and $0 for product purchase agreements.
Biden has mandated 90% rate for CCS for all power plants.
The critics all say that CCS has not been demonstrated 'at scale'. So my assumpiton has been that Rotterdam must produce 90% CCS rate. This, as I said in another post, is legally required for the EPA to claim that this has been 'adequately demonstrate'. So, whether 90% was originally envisioned at Rotterdam or not, it seems like it now must be 90% rate. Otherwise, after all the effort, the same argument that 'this has never been demonstrated at scale' will still persist, and hence Biden's EPA mandate of 90% will be in limbo and there will be lawsuits. Maybe I am wrong about all this. But the way I see it is that Exxon must show 90% capure rate. Then again, as I have said before, I think Exxon is not really motivated to show/claim 90% capture ability until they maxmimize the tax credits/permiting process. So it's probably complicated ..
Thanks Hog! I appreciate the post -
I am still not really sure what it means, in terms of the scope/terms of the contract, for now and for future.
Would sure be nice for Few to discuss this in detail. ......
This is a very important issue imho.
If Rotterdam is all bout one 2.8 MW module a few years from now, then it is basically a nothing burger which means nothing, and is probably a delay deal so that the insiders can drive down the price for 500 million new shares to under $1.
On the other hand, if this is a real demonstration project of 90% CCS 'at scale' - which means a 500 MW power plant or more - which truly addresses all of the YES/NO decisions being arugued about all around the world, then this will be much more than one 2.8 MW unit, imo, from all I have read.
Not sure what the real deal is, or what type of games are being played. If there is not absolute clarity by the end of 2024, as far as the scope of this project, then it will probably be a disappointment. There is tremendous potential - but it may all be 'set-up'. Only time will tell.
Hog, these are two different issues, in my mind. Both are huge issues.
The part about demonstrating 90% successful CCS will take time, probaby around end of 2026 and that would be a humongous event.
But much before that is the contract/manufacuring for modules for Rotterdam project. You said that manufacturing has probably begun. Wouldn't that need to be news/8k ? And with associated terms/scope of the contract? I don' know SEC rules governing 8k/news. I would think that this would be required. Maybe somehow Exxon is able to tell FCEL no to announce it ???? But as far as I can tell, manufacturing has not begun, nor has any conract been signed with Exxon. And not even sure if we are talking about one or two 2.8 MW modules, or more like 40 or 50 such modules. A lot of confusion for a project tha may or may not be moving forward. ???
Then again, the CEO for NKLA opened his mouth too much and made some questionable statements and not only did he lose his job and billions but they literally sentenced him to jail for years .... so I can understand FCEL relectuance to say anything ....