October 27th, 2021 | 14:53 CEST
Enapter, Plug Power, Ballard Power - This is the future!
In 1875, Jules Verne wrote in his book "The Mysterious Island": "Water is the coal of the future. Tomorrow's energy is water that has been broken down by electric current. The elements of water thus decomposed, hydrogen and oxygen, will secure the earth's energy supply for the unforeseeable time." The visionary was right. For a successful energy transition, we need hydrogen solutions. Mass production is increasingly within reach for many companies, but most companies are still in the red. Who will be ahead in the future?
time to read: 3 minutes
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Author:
Carsten Mainitz
ISIN:
ENAPTER AG INH O.N. | DE000A255G02 , PLUG POWER INC. DL-_01 | US72919P2020 , BALLARD PWR SYS | CA0585861085
Table of contents:
"[...] We can convert buses and trucks to be completely climate neutral. In doing so, we take a modular and incremental approach. That means we can work with all current vehicle types and respond to new technology and innovation [...]" Dirk Graszt, CEO, Clean Logistics SE
Author
Carsten Mainitz
The native Rhineland-Palatinate has been a passionate market participant for more than 25 years. After studying business administration in Mannheim, he worked as a journalist, in equity sales and many years in equity research.
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ENAPTER AG - Innovation made in Germany
This award-winning German Company manufactures highly efficient, modular hydrogen generators based on anion exchange membrane (AEM) technology. The core technology has been proven for more than 10 years. It forms the basis for the cost-effective and compact electrolyzer used in energy, mobility, telecommunications, heat generation, and industry sectors. The Company's innovative strength was recognized by the World Economic Forum this summer with the title of "Technology Pioneer 2021" for the development of the revolutionary AEM electrolysis technology.
In September, ground was broken for the Enapter Campus in North Rhine-Westphalia, which is to include a production facility for the mass production of 10,000 hydrogen generators per month. The Company is targeting the start of production in the fourth quarter of 2022. The Enapter Campus serves as a blueprint for the planned global roll-out of additional production facilities. In the medium term, the Company aims to build a production capacity of 280 MW per year.
Recently, the Company published a Sustainability Accounting Standards Board (SASB) report for the first time. Enapter is making key figures from environmental, social and governance (ESG) publicly available under the SASB standard and methodology. Undisputedly, ESG criteria have increasing weight in the investment decisions of investors.
The analysts at Pareto Securities and First Berlin advise a "buy" on the share, as they are convinced of the potential of the innovative technology. Both analyst firms formulate EUR 34 as a price target, representing an upside potential of around 20%.
Plug Power - Newsflow and higher medium-term targets fuel share price
Impressive success messages and the increase of the medium-term goals gave the share certificates of the Americans a clear upward drive recently. A painful price correction preceded this. The Company is currently valued at just under USD 19 billion. Sporty or not?
Plug Power had previously forecast sales of USD 200 million from its hydrogen division for 2024. Now the Company raised its 2025 targets to USD 1.5 billion. Analysts then believe the Company will have revenues of USD 4 billion and EBITDA of around USD 600 million in 2026. Should these high growth rates materialize, the current high valuation would quickly be put into perspective. The stock market is all about the future. Nevertheless, the fact remains that black zero is still years away.
The latest company announcements are generating a lot of imagination. To promote the marketing of hydrogen drones, Plug Power is working together with HevenDrones, among others. Together, the companies are developing a solution for powering and refueling the HevenDrones fleet. Flight time, range and payload should thus be improved. The collaboration with Airbus is also impressive. Plug Power will also develop scenarios for the refueling infrastructure here.
Ballard Power Systems Inc. - The big picture speaks for the share
Ballard Power Systems develops and manufactures proton exchange membrane fuel cells used to power buses, trucks, trains, ships and forklifts. The Canadian-based company is one of the few pioneers in the industry. Ballard focuses on heavy- and medium-duty propulsion applications, where fuel cells are compelling because of their range and refueling times. And the underlying conditions are conducive to the Company's success.
The European Commission, with its "Fit for 55" package, and the US Department of Energy, with its "Earthshot" program - both announced this summer - see the use of hydrogen as an energy source as a success factor in reducing carbon dioxide emissions. Ballard should benefit significantly from market growth. The Company has been marketing its fuel cell technology for some time, and the approximately 3,500 buses and trucks powered by its fuel cells have already traveled more than 100 million miles.
Hydrogen technology will establish itself as an essential component of the energy transition. It will still take a while before mass production and market penetration are achieved. However, the numerous advantages of the technology are obvious. Ballard Power is undeniably a pioneer in the industry. Plug Power should grow into its high valuation. Because of its innovative approach, Enapter is exciting. Analysts estimate an upside potential of around 20% here.
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