May 17th, 2023 | 07:55 CEST
Movement in the hydrogen sector: What are Nel ASA, ThyssenKrupp and dynaCERT doing?
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"[...] Why should a modular electrolyzer cost more than a motorcycle? [...]" Sebastian-Justus Schmidt, CEO and Founder, Enapter AG
dynaCERT: When will the knot burst?
dynaCERT could also become attractive for a large vehicle manufacturer. After all, the Canadians have positive newsflow in the current year. On the one hand, orders from large mining companies for the HydraGEN series HG4C fill the books and should make the cash register ring in the current year. The HydraGEN technology reduces fuel consumption and CO2 emissions as well as NOx emissions (nitrogen oxides) and CO and THC emissions from commercial vehicles. In addition, engine power and torque are increased, leading to more extended engine and oil life. In the current year, the breakthrough may finally be achieved.
In addition, dynaCERT is entering the production of green hydrogen with its partner Cipher Neutron. The aim is to offer particularly low-cost production processes and thus decisively improve the competitiveness of green hydrogen. The first 5 KW anion exchange membrane electrolyzer (AAM) should already be ready for the market this year. Due to its higher current density, it is expected to produce 28 times more hydrogen gas than a classic alkali electrolyzer. A large 250 KW AAM electrolyzer is also already in development. Most recently, a customer or partner has already been found. For Molymet, a leading manufacturer of molybdenum and rhenium products from Chile, a plant for the production of green hydrogen is to be developed. Molymet wants to use this to supply its factories with energy. In addition, the rhenium products developed by Molymet could be suitable for further improving the efficiency of electrolyzers. Finally, dynaCERT has also raised fresh capital of EUR 2 million. So there should be no threat of a capital measure at the moment. In recent weeks, the dynaCERT share price has settled between CAD 0.10 and CAD 0.14. If the positive newsflow continues, the share price will rise, and the market capitalization of under CAD 70 million is anything but high. For those who are now curious, you can watch the presentation of the dynaCERT CEO at the latest IIF. Click here (https://www.youtube.com/watch?v=y5h4U5o2npU&t=5s) for the YouTube recording.
Nel: New orders from Everfuel soon?
With a market capitalization of NOK 24.8 billion, Nel ASA is certainly no bargain. But the hydrogen pioneer from Norway is finally getting a grip on its operating business. Sales are rising, and losses are finally falling. This sets the Norwegians positively apart from the other hydrogen pioneer Plug Power.
And Nel ASA is the partner of another automotive giant that - like Stellantis - is investing in hydrogen: General Motors. General Motors has its headquarters in Detroit. Not far from there, Nel wants to invest around EUR 400 million and build an automated electrolyzer factory. In several expansion stages, the production capacity of alkaline and PEM electrolyzers is to increase to up to 4 GW. The concept of a fully automated factory is intended to serve as a reference. Perhaps Everfuel will also order such a factory soon. Nel has a stake of more than 10% in Everfuel and is already producing for the Danes. More orders could follow soon because Everfuel has founded a joint venture with Hy24. Hy24 is the world's largest infrastructure fund for clean hydrogen. Over the next few years, the joint venture aims to enable 1 GW of green hydrogen projects in Scandinavia. For this purpose, EUR 200 million in equity capital is available. The investment budget is expected to be significantly higher due to EU subsidies and debt capital.
ThyssenKrupp aims to scale hydrogen
ThyssenKrupp, specifically its subsidiary nucera, is considered a German hydrogen hopeful. The subsidiary has long been rumored to be an IPO candidate and appears to be preparing for its stock market debut. A new product name has been introduced for the innovative solution for the production of green hydrogen. This 20 MW module is now called "scalum." This was announced by the provider of world-leading technologies for highly efficient electrolysis plants at the international industry trade fair "World Hydrogen Summit 2023" in Rotterdam. The new product name is derived from the term scale. It pays tribute to the scalability of the module, which interconnects several modules to form very high plant capacities. Scalability plays a central role in the use of green hydrogen as a new, carbon-free energy carrier of the future. For the decarbonization of energy-intensive industries, large-scale water electrolysis plants must be used to produce this climate-friendly energy carrier on a large scale using renewable energy sources. This will minimize the industry's carbon footprint. "To reliably represent capacities for the production of green hydrogen on a scale of several hundred megawatts or even gigawatts of power, our plants must guarantee a high degree of scalability and availability. Our product name, 'scalum', reflects this quality promise that we make to our customers and by which we measure ourselves," says Dr Christoph Noeres, Head of Green Hydrogen. "scalum" is intended to be the start of a new company-wide uniform naming system for ThyssenKrupp nucera's AWE product family in the hydrogen sector.
Hydrogen will make an important contribution to the energy mix of the future. The race for technology and market leadership is on. Plug Power has suffered setbacks in recent weeks but should certainly not be written off yet. Nel is certainly looking better at the moment, but the Norwegians still have a long way to go before they are profitable. dynaCERT could become a surprise candidate in the current year. The Canadians seem to be making a breakthrough this year. At ThyssenKrupp, further news on the nucera IPO is eagerly awaited.
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