March 13th, 2023 | 13:04 CET
Nel ASA, dynaCERT, Enapter - Future green hydrogen
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
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Author:
Stefan Feulner
ISIN:
NEL ASA NK-_20 | NO0010081235 , DYNACERT INC. | CA26780A1084 , ENAPTER AG INH O.N. | DE000A255G02
Table of contents:
Author
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.
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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.
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