Swiss energy concern Axpo had intended to build a hydrogen production facility at the Eglisau-Glattfelden hydroelectric power plant. However the project, which was to be located directly on the German-Swiss border, has now been stopped due to complaints about the granting of a special license.
The hydrogen plant was expected to have a capacity of over 2.5 megawatts and produce around 350 metric tons of green hydrogen annually. Sufficient to save approximately 1.5 million liters of diesel from road transport every year, according to the supplier’s calculations. The plant could have been enlarged to 5 megawatts as demand increased. Plans indicated potential for several refueling stations in the area to be supplied with hydrogen.
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Nevertheless, in order for construction work in Eglisau-Glattfelden to go ahead, an existing building belonging to the power plant, located outside the construction area, would have needed to be demolished and replaced. To allow this to happen, Axpo had submitted an application for a special license which was then approved by the local authority. This prompted objections to be lodged by three private individuals at the court of appeal for building matters in the canton of Zürich, which then upheld their complaints. It was said that there are “no particularly significant and objective grounds” for conferring the special license. The public interest in producing energy here was purportedly given less weight by the court than the anticipated traffic noise from trucks resulting from the project.
Commenting on the decision, Guy Bühler, project lead at Axpo, warned: “The decision to narrowly interpret the law even in the case of an environmentally beneficial plant that is in line with the 2050 energy strategy will hamper decarbonization efforts.” He added: “We very much regret that we will once again be prevented from making a greater contribution to Switzerland’s decarbonization.”
Despite the project coming to an abrupt halt, Axpo intends to proceed with other building plans involving green hydrogen and complete further projects in Switzerland. Bühler now sees legislators as bearing responsibility. “Conditions need to be created that enable innovative projects to be carried out and thus make it possible to channel urgently needed investment into the energy transition.”
For many years Swedish company myFC repeatedly made headlines with its specialist fuel cell applications – ranging from fuel cell systems for cell phones to electrically powered bicycles. In fall 2022 the disclosure was made that the company, which has been listed on the Nasdaq First North Growth Market since 2014, had filed for insolvency at the district court in Stockholm on June 30. Trading platforms indicated a liquidity squeeze as the cause.
The Scandinavian company had previously presented test models of an initial user-friendly portable charging device back in 2008 (see HZwei, April 2011). In 2011 it introduced Powertrekk, a hybrid device consisting of a PEM fuel cell and a lithium-ion battery for supplying power to mobile terminals. The Powertrekk 2.0 came “onto the market” in 2015 but failed to make a profit.
It seems like Nikola Motors [Nasdaq: NKLA] was able to stop the bleeding of the past few months. The stock is rising again. Up to 30 million shares are now traded each day, a comparatively high volume for the company. The new-found optimism among investors seems to stem from reports about Nikola’s recent progress in meeting its targets. Construction of the Arizona factory is well underway. Then there are new production facilities being built in Ulm, Germany. And another boost for the stock came when competitor Daimler Truck announced its intention to have 5,000 hydrogen-fueled heavy-duty vehicles on the road over the next few years, with business partner Shell providing the fueling infrastructure. Sounds a lot like Nikola’s business model, the difference being that Nikola will produce its own hydrogen, and be able to keep the revenue, instead of outsourcing the task to another company.
Burckhardt Compression, formerly a subsidiary of Swiss engineering group Sulzer, could become the next stock to pique the interest of investors. The world’s foremost manufacturer of piston compressors, Burckhardt [SIX: BCHN] is increasingly producing equipment that is later used in hydrogen production or transport, as in gas networks delivering hydrogen blends or in electrolyzers, providing the company with new and huge opportunities for growth. Burckhardt is expected to generate CHF 620 million to CHF 650 million in revenue this fiscal year. Its performance last year had already resulted in earnings of CHF 13 a share, including CHF 6.5 in dividend payouts. In its annual report, Burckhardt noted that 2020 saw a “substantial increase” in demand for hydrogen-related components in the transportation and energy sectors.
On June 8, the EU followed Germany’s example by announcing a hydrogen strategy. The European Commission even published two road maps, one for energy systems integration and another for clean hydrogen as part of the NextGenerationEU stimulus package and the European Green Deal.
Taking an innovative approach to raising fresh capital, Enapter, an electrolyzer manufacturer based in Pisa, Italy, has launched an equity crowdfunding campaign. In late March, it began offering shares for only a few hundred euros, promising investors dividend payments over a period of five years. Germany’s financial services regulator BaFin greenlighted the investment strategy in spring, the company said.
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