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June 2nd, 2022 | 12:23 CEST

First Hydrogen, Plug Power, BYD - Green energy as a propulsion accelerator

  • Hydrogen
  • GreenTech
  • Electromobility
Photo credits: pixabay.com

Nine million people worldwide died from air pollution in 2019. According to the journal The Lancet Planetary Health, that makes dirty air more dangerous than deaths from drug abuse or alcohol consumption. Governments in Europe and China are developing new incentive programs to encourage industry partners to move faster than planned to green energy. First Hydrogen, BYD and Plug Power demonstrate what is happening in the market through their current projects.

time to read: 3 minutes | Author: Juliane Zielonka
ISIN: First Hydrogen Corp. | CA32057N1042 , PLUG POWER INC. DL-_01 | US72919P2020 , BYD CO. LTD H YC 1 | CNE100000296

Table of contents:


    Dirk Graszt, CEO, Clean Logistics SE
    "[...] 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

    Full interview

     

    First Hydrogen - Green energy with German partner FEV

    With the EU's oil and gas embargo, Europeans face turbulent times. Sanctions have a habit of primarily harming those who initiate them rather than specifically checkmating opponents. The Russia-Ukraine crisis, however, can be the springboard for accelerated innovation.

    A pioneer in the field of renewable energy is the Canadian-English company First Hydrogen. The Company focuses on zero-emission vehicles and the production and distribution of green hydrogen and carbon dioxide extraction systems. So it is fortunate that the German government has adopted a national hydrogen strategy. Green hydrogen is the only way to make certain processes in the chemical industry are climate-friendly while at the same time preserving jobs. Green hydrogen can be used in transportation and offers many advantages - especially where electrification is not practical or possible.

    The UK government is also looking to increase its use of green hydrogen. Since green hydrogen is the only option that does not require fossil fuels, it is the only form that is truly climate-friendly. First Hydrogen recognized the need long before any possible government decisions and is in the process of implementing it.

    Another partner in the First Hydrogen network is the German company FEV. FEV is the world's leading engineering service provider in vehicle and powertrain development and digital mobility. In 2017, the engineering service provider established a global Center of Excellence (CoE) to further advance the interdisciplinary development topics around connectivity and automation of future vehicle developments. FEV provides consulting support in developing software for autonomous driving, electrical and electronic architecture, and the selection of hardware for product design.

    BYD - Government pushes CO2 neutrality in its own country

    Chinese electric mobility company BYD (Build Your Dreams) is the world's leading manufacturer of battery-electric buses. Pilot projects in the US already demonstrate the sophisticated technology BYD uses to make vehicles emission-free. The Chinese government is also taking care of CO2 reduction with new measures. According to Reuters, the ruling party there is planning new financial instruments to help local companies move toward zero emissions.

    More than 4,000 people die every day in China from air pollution. US researchers report that 17% of all deaths are due to high levels of pollutants in the air. Every day, 38% of the billion-strong population breathes bad air. Every year, 1.6 million people die as a result of smog.

    The new guidelines aim to "create a tax and fiscal policy system that promotes the efficient use of resources and environmentally friendly, low-carbon development," the ministry said. According to the recommendations, the tax system should be adjusted to include more preferential measures to promote energy and water conservation and reduce carbon emissions. Import tariffs should also be adjusted to meet the requirements of low-carbon development, it says.

    In countries like China, the economy has grown since 2015. That means more energy consumption and, therefore, more polluted air from burning coal, oil and gas. BYD is leading by example.

    Plug Power - Leading by green example in the State of Denmark

    Plug Power Inc is a leading provider of turnkey hydrogen solutions for the global green hydrogen economy. The company has been awarded a contract to supply a one gigawatt (GW) electrolyzer to hydrogen company H2 Energy Europe. An electrolyzer is a device that breaks water down into its basic components - hydrogen and oxygen. This electrolyzer, planned for a green hydrogen production complex in Denmark, is the largest electrolyzer plant in the world to date. Through offshore wind energy, Plug's electrolyzer technology will be able to produce up to 100,000 tons of green hydrogen annually for the energy and transportation sectors in Northern Europe.

    "We see green hydrogen as the future and have made significant investments in green hydrogen, including the construction of a gigafactory for electrolyzer production," said Andy Marsh, CEO of Plug. "Our operational readiness and production capabilities were key to us being selected for the largest contract in the world to date, and we are pleased to be part of this project with H2 Energy."

    Just recently, Plug Power released its quarterly figures. Revenue for the quarter was EUR 131.3 compared to EUR 67 million in the first quarter of 2021. Material handling revenue for the quarter was EUR 89.5 million, while other product offerings generated approximately EUR 41.7 million in the first quarter of 2022, including electrolyzer solutions and recent acquisitions.


    Both governments and the private sector are making a strong case for the shift to renewables. While fuel rebates and 9-Euro Tickets are being experimented with in this country, companies such as First Hydrogen are focusing on developing state-of-the-art electric vehicles using green hydrogen. Plug Power is also working in large-scale industry on environmentally friendly energy production systems. And BYD is now receiving backing from the Chinese government. There, too, they now want to become more climate-neutral.


    Conflict of interest

    Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a "Transaction"). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company.

    In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships.

    For this reason, there is a concrete conflict of interest.

    The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies.

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    Der Autor

    Juliane Zielonka

    Born in Bielefeld, she studied German, English and psychology. The emergence of the Internet in the early '90s led her from university to training in graphic design and marketing communications. After years of agency work in corporate branding, she switched to publishing and learned her editorial craft at Hubert Burda Media.

    About the author



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