October 28th, 2026 | 05:42 CET
Climate Protection at Nel and Daimler Truck at a Dead End: Why Hydrogen and Electric Trucks Are Stalling—and How dynaCERT Is Bridging the Gap
The logistics industry is currently facing an existential challenge characterised by sharply rising energy costs. According to the European Commission's Oil Bulletin, the average diesel price across the EU stood at EUR 2.136 per litre in mid-October, almost 40% higher than a year earlier. At the same time, the rollout of zero-emission infrastructure for heavy-duty transport is experiencing significant delays. As a result, solutions that reduce fuel consumption across existing fleets are becoming increasingly important for freight and logistics companies.
time to read: 3 minutes | Author: Nico Popp
ISIN: dynaCERT Inc | CA26780A1084 , Nel ASA | NO0010081235 , Daimler Truck Holding AG | DE000DTR0013
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Author
Nico Popp
At home in Southern Germany, the passionate stock exchange expert has been accompanying the capital markets for about twenty years. With a soft spot for smaller companies, he is constantly on the lookout for exciting investment stories.
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Nel: Full order books and stalled project implementation in electrolysis
The Norwegian manufacturer Nel exemplifies the pronounced stagnation in industrial hydrogen projects. In the third quarter, the company reported a 339% increase in order intake to NOK 253 million. At the same time, however, actual revenue from customer contracts slumped by 63% to NOK 112 million, according to the latest quarterly report. The alkaline electrolysis business, which traditionally serves as the backbone for large-scale industrial projects, fell by 91%. As market observers emphasise, high borrowing costs and the lack of long-term offtake agreements are preventing project developers worldwide from making final investment decisions. The only bright spot in the financial statements remains the more compact PEM technology, whose revenue rose by 65% to NOK 89 million, according to Nel.
Daimler Truck: Battery-electric sales under pressure
The transition on the road is also stalling, as Daimler Truck's delivery figures demonstrate. The commercial vehicle manufacturer increased its total unit sales by 26% to 91,260 in the third quarter. However, Daimler Truck's battery-electric models found few buyers: according to company data, only 1,207 units were sold, representing a decline of 28%. An electric truck such as the eActros 600 costs around two to two-and-a-half times as much to purchase as a conventional diesel equivalent. Insufficient charging infrastructure along motorways and reduced payload capacity make an immediate switch economically unattractive for logistics operators at current costs. Many freight companies are therefore sticking with their Euro 6 diesel fleets for the time being.
dynaCERT: Pragmatic bridging technology for everyday diesel use
In this infrastructure vacuum, dynaCERT is positioning itself with a compelling on-board solution. The Canadian company's HydraGEN™ system produces hydrogen and oxygen from distilled water through electrolysis directly on the truck. These gases are fed into the diesel engine's air intake system on demand to optimise thermodynamic combustion efficiency. According to the company, this reduces fuel consumption and soot emissions, while the diesel particulate filter requires less frequent regeneration. These cumulative operating-cost benefits offset high fuel prices. The hardware purchase therefore pays for itself relatively quickly, depending on the specific scenario. Initial commercial progress is already evident: following a series order in Vietnam in June, the company announced a follow-up order from an existing customer in the French market in early October as part of its collaboration with distribution partner IPMD.
dynaCERT: Telematics and carbon credits as a potential second business pillar
An additional growth driver for dynaCERT could lie in telematics. Using the proprietary HydraLytica™ software, the system captures engine performance data directly from the engine control unit, without manual intervention. Certification organisation Verra's VMR0004 methodology, revised in 2024 and co-developed by dynaCERT, allows such vehicle-specific monitoring via telematics. On this basis, verified emissions savings could be converted into carbon credits in future. Both dynaCERT and its customers could then benefit from potential proceeds from such credits. In addition, the company acquired a 15% stake in AEM electrolyser specialist Cipher Neutron in 2024.
Conclusion: Operational scaling as the next crucial hurdle
Although HydraGEN™ retrofits can pay for themselves relatively quickly for fleet operators, the cleantech company faces the challenge of moving from pilot projects to global mass production. The CAD 5 million in convertible debenture financing secured in June provides management with some financial flexibility for the time being. Given the complexities of scaling operations and its dependence on capital markets, dynaCERT shares remain a speculative investment but offer promising opportunities for a fundamental revaluation if it successfully establishes a global distribution network.
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