At the start of 2021, we were still seeing a real hype around hydrogen stocks. Then came a powerful backlash. I see this as a healthy correction to a short-term overheating that is now clearly bottoming out. Despite prices retreating recently, it will result in a stable upward trend in the long run for these stocks in 2022. Still, the plans being announced across the world at present to expand the hydrogen economy are triggering a kind of gold rush. And it is not just the many conferences, strategies and projects that are contributing to this picture but the specific intentions of numerous countries and companies to use technology to combat climate change too. (more…)
Bloom Energy gained its South Korean customer and corporate partner of many years, SK ecoplant, as a shareholder and, thanks to the existing good working relationship, has even bagged a USD 4.5 billion order – for hardware and software and also service revenue – for 500 megawatts for the time being. This order should only be the start though and so ought to have further potential. SK ecoplant, part of the SK Group, is the largest energy corporation in South Korea and is planning to invest multiple billions in fuel cells and hydrogen, said to be about USD 25 billion. (more…)
Although the price of Weichai Power fell away steadily in recent months, it has bounced back very strongly in recent weeks by more than 35 percent. Weichai, as a leading producer of diesel engines in China, is the perfect counterpart to the American corporation Cummins, which is very aggressively expanding its hydrogen and fuel cell activities, and as such is hedging Weichai’s future strategy. For Cummins, the acquisition of Canadian firm Hydrogenics was its ticket into the world of hydrogen. For Weichai, it was its stake in Ballard Power (probably currently standing at about 15 percent) and the joint production of commercial vehicle stacks in a joint venture (51:49). (more…)
The two-part trade fair concept was particularly well received by exhibitors. In addition to the halls at the fairgrounds, the Munich city center was also used as an exhibition area. Especially suppliers in the area of fuel cell drives had new things to present. They recognize the high market potential and feel that the technology will penetrate the passenger car sector through the commercial vehicle sector. (more…)
Plug Power is benefiting from the fact that a variety of analysts view the company to be a front-runner in an American hydrogen economy in 2023/24 and one that should be very well positioned to produce green hydrogen through the development of its own electrolyzer capacity in the longer term. In nine years’ time, a revenue of USD 9 billion may even be possible. Until then, a hydrogen price of USD 1 per kilogram should be achievable, according to Evercore analyst James West. (more…)
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