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Tag: Green Hydrogen

  • Plug Power Stock: Dead, or a Future Clean-Energy Beast in the Making?

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    Plug Power (NASDAQ: PLUG), a developer of hydrogen charging technologies, went public in 1999 at an IPO price of $150, adjusted for a reverse split. Today, it trades at about $2. Is this green energy stock dead, or will it recover and deliver massive gains for its patient investors?

    Plug initially planned to build hydrogen charging systems for entire homes. However, high infrastructure costs, regulatory challenges, and soft consumer demand derailed those plans, and it pivoted toward selling hydrogen cells, electrolyzers, and storage systems.

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    Image source: Getty Images.

    Today, the company generates most of its revenue by selling fuel cells and charging systems for Amazon‘s (NASDAQ: AMZN) and Walmart‘s (NASDAQ: WMT) hydrogen-powered forklifts. Those two retail giants are also the company’s largest investors. As of this writing, it’s deployed 72,000 fuel cell systems and 275 fueling stations across the United States.

    Plug Power’s revenue rose 40% in 2022 and 27% in 2023, but much of that growth was driven by acquisitions of two smaller cryogenic storage companies rather than by organic growth in its core hydrogen fuel cell, charger, and electrolyzer businesses.

    In 2024, its revenue declined 29% as the macro headwinds drove many companies to rein in their hydrogen projects. Its operating margin also plummeted from negative 97% in 2022 to negative 321% in 2024, which suggested its capital-intensive business was unsustainable.

    Despite those challenges, analysts expect Plug Power’s revenue to rise 12% in 2025, then grow at a CAGR of 23% over the following two years as the macro environment stabilizes and the green hydrogen market expands. They also expect it to gradually narrow its net losses.

    But with a market cap of $2.9 billion, Plug Power still isn’t a screaming bargain at three times this year’s sales. More importantly, it could lose access to its $1.7 billion loan guarantee from the U.S. Department of Energy, which it secured in the final days of the Biden Administration, after the Trump Administration paused those commitments. It’s already suspended the construction of up to six green hydrogen plants associated with that loan.

    On the bright side, it’s still ramping up green hydrogen production in Texas and Georgia, launched a joint venture with Olin (NYSE: OLN) to build a new hydrogen liquefaction plant in Louisiana, it secured new green hydrogen projects in the U.K., and it’s streamlining its spending through its “Project Quantum Leap” initiative. Plug Power isn’t down for the count yet, but I don’t expect its stock to bounce back unless the Trump Administration changes its tune on the green hydrogen industry.

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    Leo Sun has positions in Amazon. The Motley Fool has positions in and recommends Amazon and Walmart. The Motley Fool has a disclosure policy.

    Plug Power Stock: Dead, or a Future Clean-Energy Beast in the Making? was originally published by The Motley Fool

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  • Dynapower to Support World’s Largest Green Hydrogen Storage Project

    Dynapower to Support World’s Largest Green Hydrogen Storage Project

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    Press Release


    Dec 7, 2022 11:00 EST

    Dynapower, a Sensata Technologies company and a global leader in power conversion and energy storage solutions, announced that it has been selected to provide 220 megawatts of IGBT chopper rectifiers to the Advanced Clean Energy Storage hub—powering the production of green hydrogen to accelerate the decarbonization of the Western United States.

    Located in Delta, Utah, the Advanced Clean Energy Storage hub will be the world’s largest renewable energy storage facility. The hub will capture excess wind and solar energy and—with the help of Dynapower’s power conversion systems—convert it to green hydrogen using electrolysis and store it in underground salt caverns. The first two caverns at the hub will store up to 300-gigawatt hours of dispatchable clean energy and feed it back to the grid when it’s most needed.

    Dynapower’s high-power, highly reliable IGBT chopper technology was chosen for this project due to several key advantages, including a high power factor across the input range, compliance with IEEE 519 grid harmonics, a simplified and lower-cost transformer design, low DC ripple, and a rapid response to changes in power generation.

    “We’re thrilled to support this project and expand the use of clean hydrogen to decarbonize the energy ecosystem,” said Adam M. Knudsen, Chief Executive Officer of Dynapower. “Our commitment to advancing a clean energy future is stronger than ever, and we’re honored to be able to contribute our expertise to a renewables project of this size and magnitude, paving the way for the future of green hydrogen power and a cleaner planet.”

    Dynapower brings 60 years of experience in power electronics, U.S.-based manufacturing, world-class service and support, and a proven track record of successful execution to the Advanced Clean Energy Storage hub project. More information about the hub can be found at https://aces-delta.com.

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    About Dynapower

    Since 1963, Dynapower, a Sensata Technologies company, has provided power electronics solutions, along with an array of aftermarket services focused on continuous reliability and efficiency to an ever-expanding global customer base. Dynapower is a trusted leader in all types of power conversion equipment including high-power rectifiers, inverters, DC/DC converters, integrated battery energy storage systems, and transformers for use in hydrogen, e-mobility, energy storage, industrial, mining, defense, and research applications. With headquarters and a 150,000-square-foot vertically integrated manufacturing facility in South Burlington, VT, Dynapower is collaborating with its partners and clients to shift the way our world uses power and advance our resilient, clean energy future. Learn more at dynapower.com.

    About Sensata Technologies

    Sensata Technologies is a global industrial technology company striving to create a cleaner, more efficient, electrified and connected world. Through its broad portfolio of sensors, electrical protection components and sensor-rich solutions which create valuable business insights, Sensata helps its customers address increasingly complex engineering and operating performance requirements. With more than 21,000 employees and global operations in 13 countries, Sensata serves customers in the automotive, heavy vehicle & off-road, industrial, and aerospace markets. Learn more at www.sensata.com.

    Source: Dynapower

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  • Klean Industries Partners With H2Core Systems for the Rollout of Containerized Hydrogen Production Facilities

    Klean Industries Partners With H2Core Systems for the Rollout of Containerized Hydrogen Production Facilities

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    Klean Industries Inc (“Klean”), a leading equipment manufacturer that owns a commercialized portfolio of intellectual properties and know-how focusing on the recovery of clean energy and resources from waste, is pleased to announce that it has signed a partnership agreement with H2 Core Systems (“H2 Core”) to distribute and build green hydrogen projects around the globe.

    H2 Core Systems (“H2 Core”) is a leader in integrated design and engineering for modular and containerized green hydrogen production plants. H2 Core Systems develops, manufactures, and maintains modular and configurable electrolysis systems that are expandable and scalable at any time. H2 Core offers the perfect solutions in combination with photovoltaic (solar) or wind power systems for a decentralized, self-sufficient, integrated system that enables the creation of a green energy supply chain that can be used worldwide. Hydrogen plays a crucial role in providing a solution for the global path to a zero-emission future in transportation, industry, homes, and workplaces. H2 Core Systems understands the clean hydrogen value chains, technology integration, systems, people, and partnerships needed to ensure hydrogen’s role in the clean energy economy.

    The combination of this partnership in deploying hydrogen at scale is being built on the foundation of Enapter AG’s (“Enapter”) Anion Exchange Membrane (AEM) Electrolysers. Enapter provides this partnership with modular electrolyzers which can be deployed individually or at scale for any amount of on-site hydrogen and for any application. Inspired by the mind-blowing cost reduction of solar panels and microchips through standardization and mass production, Enapter has developed plug-and-play electrolyzers that can be manufactured at scale.

    “Klean, H2 Core, and Enapter share synergistic values and the understanding of what the world needs to achieve Net Zero, in a Circular Economy that supports the development of a sustainable society. The KleanTeam has conducted extensive due diligence on the hydrogen production marketplace, and we believe that H2 Core’s technology applications combined with Enapter’s AEM Electrolysers’ and energy management system (“EMS”) offer the perfect design for both Klean’s internal projects and our customers’ projects. The uniqueness of these designs also compliments the integration of our KleanLoop™ technology, which together represent a game changer for combined applications of alternative energy production,” said Marc Schwarzlose, Director of Project Development for Klean Industries Inc.

    Over the course of the next few months, Klean is planning the development of a modular and scalable 40′ containerized pilot project with the integration of an AEM MultiCore 1.0 megawatt (MW) electrolytic production unit designed by H2 Core for Klean’s flagship facility in Boardman, Oregon. This site is the perfect location for creating green hydrogen onsite from cost-effective, clean, reliable, and environmentally friendly hydroelectric power as Boardman has one of the lowest costs for electricity in North America. 

    The hydrogen produced at the Boardman facility is being engineered for its potential application and use in Klean’s modular oil upgrading units. The carbon emissions-free hydrogen produced can be utilized to upgrade recovered fuel oil (“rFO”) and pyrolysis oil into highly valuable, drop-in replacement fuel known as e-fuels to produce significantly lower CO2 gasoline and diesel to meet the needs of California’s Low Carbon Fuels Standards (“LCFS”).  

    Additionally, Klean and H2 Core see an opportunity for a number of Klean’s projects to have their own hydrogen-generating plants for producing 100% renewable green hydrogen, which could be used in Klean’s fleet vehicles for the collection and transportation of feedstock and output products. This alone offers a significant environmental advantage to our projects and the communities in which Klean operates. This concept is further reinforced by the ability to also integrate fuel cells, engines, and boilers that are powered by green hydrogen to offset energy costs in terms of electrical demand, with the added benefit of also providing both heating and cooling applications in various projects. 

    Beyond Klean’s internal applications, H2 Core and Klean see increasing market demand for green hydrogen produced by electrolysis. Together through this partnership, Klean plans to work with its project partners in Canada, the United States, and Australia to deploy H2 Core’s fully integrated containerized solutions. By doing so, they aim to unlock hydrogen’s true potential in reducing pollution and climate change by building hydrogen supply solutions and station networks to support the rollout of fuel-cell electric vehicles and decentralized renewable energy plants.

    “Partnerships make what we do at H2 Core Systems possible. Enapter, H2 Core Systems, and Klean Industries are aligned in our commitment to both deploying and developing a renewable hydrogen value chain. We believe this partnership is a great first step in what we hope will become a long and successful relationship,” said Ulf Joergensen, CEO H2 Core Systems.

    “We believe Enapter’s mass-produced AEM Electrolysers will enable low-cost green hydrogen to be deployed at a massive scale in the shortest amount of time. It is partnerships like this that illustrate the demand and opportunity throughout various industries for green hydrogen worldwide. By combining technologies and applications, this partnership offers integrated solutions that address both climate protection and decentralized energy generation. To make all of this happen, we must act with urgency, opt for simplicity, and insist on transparency and global partnerships,” said Sebastian-Justus Schmidt, CEO Enapter GmbH.

    “Developing clean energy projects in partnership with leading technology providers such as Enapter and H2Core Systems supports Klean’s strategic focus and enables our companies to create a symbiosis between waste, resources, and energy, while simultaneously creating a circular low carbon economy,” said Jesse Klinkhamer, CEO of Klean Industries Inc. 

    About H2 Core Systems

    H2 Core Systems (“H2 Core”) develops, manufactures, and maintains modular and configurable electrolysis systems that are expandable and scalable at any time. The perfect solution in combination with photovoltaic or wind power systems for a decentralized, self-sufficient, and green energy supply that can be used worldwide. H2 Core provides solutions for making green hydrogen available for everyone and everywhere, from 100% renewable energy sources in a standardized, flexible, and intelligent way. Their systems and containerized units replace fossil power with carbon emissions-free alternatives, combining their know-how of fluid systems with innovative Enapter AEM electrolysers and their energy management system (“EMS”). H2 Core is building standardized, flexible, and smart hydrogen sources that utilize a long track record of experience in industrial services. H2 Core, builds, upgrades, and maintains the systems they provide throughout its lifecycle.  

    See H2 Core Systems website for more information – www.h2coresystems.com

    About Enapter

    Enapter is an innovative energy technology company that manufactures highly efficient hydrogen generators – known as electrolysers – to replace fossil fuels and thus drive the global energy transition. Their patented and proven Anion Exchange Membrane (AEM) technology enables the mass production of cost-effective plug-&-play electrolyzers for green hydrogen production at any scale. Their modular systems are already used in 50 countries across the energy, mobility, industrial, heating, and telecommunications sectors. Enapter has its main offices in Italy and Germany. 

    See Enapter website for more information – www.enapter.com

    About Klean Industries

    Klean Industries (“Klean”) provides best-in-class technologies and solutions in the waste-to-value industry. Our international team of award-winning experts has decades of experience in the design, engineering, and manufacturing of the highest-quality equipment to convert waste streams into valuable energy and resources. Our unique products and services are a result of combined knowledge in the design of recycling, resource recovery, waste management, and power generation projects. Our global project management expertise safeguards timelines and budgets enabling projects to be delivered in less time and at lower costs.

    Klean uses proprietary technologies to rapidly develop projects that produce the highest quality fuels, recovered Carbon Blacks (“rCB”), and green hydrogen from various kinds of carbon-based wastes. Our know-how and skillfulness provide a specialization in building projects that use advanced thermal technologies such as gasification, pyrolysis, and carbonization, which convert scrap tires, waste plastics, and municipal solid waste into domestic energy, sustainable commodities, and new cleantech jobs. We create a symbiosis between waste, resources, and energy. Klean Industries is the link between the low carbon, circular economy, and the goal of zero waste to landfill. 

    See Klean Industries website for more information – www.kleanindustries.com 

    Source: Klean Industries Inc

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