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March 13th, 2023 | 13:04 CET

Nel ASA, dynaCERT, Enapter - Future green hydrogen

  • Hydrogen
  • greenhydrogen
  • GreenTech
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With the announcement of the Inflation Reduction Act and the Green Deal Industrial plan of the European Union, politicians worldwide are pumping money into the development of green energies. As a flexible and easily transportable energy carrier, green hydrogen is seen as a key element to transform industry and transport. Of course, the road to final implementation still has a number of hurdles to overcome. However, favourites are already emerging that have long-term multiplication potential.

time to read: 3 minutes | Author: Stefan Feulner
ISIN: NEL ASA NK-_20 | NO0010081235 , DYNACERT INC. | CA26780A1084 , ENAPTER AG INH O.N. | DE000A255G02

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


    dynaCERT - Strong 2023 forecast

    In connection with our participation in PDAC, the world's largest mining trade show, we took the opportunity to visit the headquarters of dynaCERT and talk in more detail with CEO Jim Payne about the current situation and the next steps of the Toronto-based Greentech company. The Company leader expects a strong rebound in the current fiscal year, 2023.

    Due to the requirements of politics, large mine operators, in particular, are forced to reduce their emissions significantly, he said. While switching to alternative drives will take decades, the licensed and multi-patented HydraGEN technology is already available today. This is why dynaCERT is seeing a significant increase in demand for the HG-4C series for heavy machinery for diesel engines with displacements between 40 and 60l. The price of a unit is around CAD 50,000, with a payback period of only 5 months.

    In addition, final acceptance into Verra's Verified Carbon Standard, the most widely used global greenhouse gas crediting program, is expected within the next 4 weeks. This will allow for the long-awaited trading of carbon credits, which is expected to generate recurring revenue for dynaCERT.

    The joint venture with Cipher Neutron, a Canadian company focused on electrolyzers for green hydrogen production and reversible fuel cells for power generation and energy storage solutions, could also catapult dynaCERT into a new league of valuation. The developed prototype of an AEM electrolyzer with an output of 5 KW was presented to us by the development department and is expected to be launched on the market in the current fiscal year. The electrolyzer developed by dynaCERT and Cipher Neutron would be the largest single-stack capacity electrolyzer in the world. With a successful market entry, the Canadians would thus be in the peer group with companies such as Nel ASA (market capitalization of EUR 2.1 billion) or the German company Enapter (EUR 348.10 million). The market capitalization of dynaCERT currently amounts to EUR 43.9 million. You can read a detailed update here.

    Enapter AG - Fresh money and the start of production

    Enapter AG is also working on further innovations and the expansion of its product portfolio. With the water-cooled electrolyzer EL 4.0 Liquid-Cooled (LC), production has now been started. The innovative device allows direct connection to an external cooling system to optimize heat management and efficiently use waste heat. This, the Company said, makes the electrolyzer suitable for the production of hydrogen at sites and operations where adequate cooling is not available due to external conditions.

    In addition, the Company announced the receipt of financing from the Patrimonium Middle Market Debt Fund for a total amount of EUR 25 million. The capital injection will be made by issuing a bearer bond. The financing has a term of 2 years and enables the implementation of the planned production orders. According to the Company, this is an important step for the growth company on its way to scaling its proprietary anion exchange technology for hydrogen generators.

    Nel ASA - Crash after financial injection

    It is well known that the Norwegian hydrogen specialist has a high cash burn rate. Now Nel ASA raised fresh cash in the amount of NOK 1.61 billion, equivalent to about EUR 142 million. A total of 108 million new shares were issued at a price of NOK 14.90 for institutional investors. The greenshoe makes it possible to issue a further 10 million shares.

    According to company statements, the proceeds of the issue are planned to be used for further expansion of the Heroya plant and for partial financing of the construction of a new factory in the United States.

    As a result of the announcement, the Scandinavian share price fell by about 10% towards the issue price. With the decline, the chart picture deteriorated significantly. A further drop to the area around NOK 13.65 would not be unlikely here.

    Optimistic about the future, the Canadian Greentech company dynaCERT expects rising sales figures for the full year 2023. Enapter starts production of its water-cooled electrolyzer. Nel ASA suffered a severe setback with the announcement of a private placement.

    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

    Stefan Feulner

    The native Franconian has more than 20 years of stock exchange experience and a broadly diversified network.
    He is passionate about analyzing a wide variety of business models and investigating new trends.

    About the author

    Related comments:

    Commented by André Will-Laudien on May 16th, 2024 | 07:00 CEST

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    It has finally happened! After months of sell-offs in hydrogen shares, there was a sigh of relief across the sector the day before yesterday. The reason: industry leader Plug Power received a government guarantee of USD 1.66 billion as backing for the construction of six-megawatt sites nationwide to create an initial hydrogen infrastructure. The Department of Energy (DOE) is thus demonstrating that the US is serious about investing in alternative energies. The decision boosted the entire energy sector, with uranium also continuing its recent upward trend. Where do the opportunities lie for investors?


    Commented by Fabian Lorenz on May 15th, 2024 | 07:00 CEST

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    The stock market is sometimes crazy. Plug Power reported a slump in sales and further increasing losses, yet the share price can rise significantly. Is this the turnaround for the hydrogen share? What caused the share price to rise? In contrast, the cash registers are ringing at TUI and Carbon Done Right Developments. The latter is benefiting from milestone payments from oil giant BP for a reforestation project to improve its environmental footprint. And business is also booming at TUI. The tourism group will present its financial results today, and the outlook for the summer season should be positive. Analysts see 50% upside potential.


    Commented by Armin Schulz on May 14th, 2024 | 07:15 CEST

    Nel ASA, dynaCERT, Plug Power - Growth in the hydrogen sector

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    The hydrogen market is currently experiencing an upswing, characterized by an increasing number of large orders and stronger demand for hydrogen technologies. One example of the momentum in this sector is the recent success of Canadian fuel cell manufacturer Ballard Power, which has received the largest order in its history from Polish bus manufacturer Solaris. This order, which includes the delivery of 1,000 fuel cell engines by 2027 to equip hydrogen buses, demonstrates the market's willingness to invest in sustainable and innovative mobility solutions. The German company Enapter increased its order intake in the first quarter by 730% compared to the previous year - reason enough to take a look at other hydrogen companies.