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Lewis Black
CEO | Almonty Industries
100 King Street West, M5X 1C7 Toronto (CAN)

+1 (647) 438-9766

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Nick Luksha
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Dirk Graszt, CEO, Clean Logistics SE

Dirk Graszt
CEO | Clean Logistics SE
Trettaustr.32, 21107 Hamburg (DE)


Interview Clean Logistics: Hydrogen challenge to Daimler + Co.

26. October 2021 | 10:31 CET

Nel ASA, First Hydrogen, Nikola - Fully on schedule

  • Hydrogen
Photo credits:

Time is pressing. From 2025, stricter emission targets issued by the European Union will apply, which gasoline and diesel engines will not meet. Due to the energy transition and decarbonization, carmakers globally are turning to battery-powered electric cars. However, electric mobility is unsuitable for transportation due to its short-range and long charging time. Here, the advantage currently lies very clearly with fuel cell technology.

time to read: 3 minutes by Stefan Feulner
ISIN: NEL ASA NK-_20 | NO0010081235 , First Hydrogen Corp. | CA32057N1042 , NIKOLA CORP. | US6541101050

Sebastian-Justus Schmidt, CEO and Founder, Enapter AG
"[...] Why should a modular electrolyzer cost more than a motorcycle? [...]" Sebastian-Justus Schmidt, CEO and Founder, Enapter AG

Full interview



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

The catalyst for change

The move away from fossil fuels is inevitable, but nothing but hydrogen can replace them on a large scale. Combined with wind or solar power, the price of hydrogen is expected to drop by over 50% in the next 3 years, making it significantly cheaper than diesel. As the cleanest fuel source of the future, major oil and gas companies are also making the biggest transition the world has ever seen - away from petroleum products to carbon capture "blue hydrogen".

First Hydrogen, formerly Pure Extraction, changed its name to reflect the Company's business content better. And the name says it all. A team of executives with globally recognized experience, the Canadians launched with a vision to become the leading designer and manufacturer of zero-emission, long-range hydrogen-powered commercial vehicles in the UK, EU and North America.

The best of the best

The strategy behind it is simple to explain. At First Hydrogen, investors own the opportunity to invest in a clean hydrogen mobility system built from the ground up - without the typical OEM legacy of fossil fuels or previous EV investments. A design and integration strategy and the use of a proven chassis provide First Hydrogen with tremendous production and cost advantages. In addition, two market leaders hugely important to the process were brought on board back in June. Ballard Power, a global provider of innovative clean energy with a hydrogen fuel cell fleet, was tapped for the technology. A definitive agreement was reached for the design with AVL Powertrain UK, the world's largest independent automotive engineering, simulation and testing company.

Now First Hydrogen announced that the initial development of its light commercial vehicles for demonstration purposes for the UK market has been successfully completed. Further development and construction of two hydrogen-powered light commercial vehicles for demonstration purposes is to begin at AVL's facilities in the United Kingdom. Delivery is scheduled for the third quarter of 2022, according to First Hydrogen management.

These vehicles will enable First Hydrogen to demonstrate to potential customers the functional parameters of a zero-emission hydrogen transporter - such as combined range and payload, towing capability, and refueling speed - as well as detail customer requirements and secure custom design orders for the UK, European, and North American markets.

As a second pillar, First Hydrogen will also offer fuel cell-powered CO2 extraction systems to allow users to operate the systems in remote locations where no power grid is available, or power supply is unstable. This previously developed supercritical CO2 extraction system is fully operational and can be monitored and supported remotely through the Company's fully integrated software operating system. The Company, also traded in Frankfurt, currently has a market capitalization of only EUR 42.26 million. Compared to the competition from the USA, there is significant upside potential for First Hydrogen once the prototypes have been successfully built.

Back to normality

After the Norwegian hydrogen specialist Nel ASA shone with record figures last week, sales increased by 55% to EUR 23.63 million. Still, the loss in EBITDA increased from minus EUR 4.34 million to minus EUR 11.64 million due to start-up costs for the new plant in Heroya - calm is returning. After a brilliant 20% rally, the share price of the Norwegian Company shot up to the EUR 1.72 level. Here, however, was a striking resistance, which let the price sink back to EUR 1.59. The share would generate a buy signal if it sustainably broke above the EUR 1.73 mark. In contrast, breaking the EUR 1.50 mark would end the bottoming phase and retest the annual lows.

By 2025, Nel ASA has set a target that 1 kg of green hydrogen should cost USD 1.5. To achieve this, Nel wants to expand the electrolyzer capacity of its plants in Norway. Currently, the capacity is 40 MW per year, thanks to the Notodden plant. But when the large-scale project in Heroya is completed, the total will be 500 MW per year. In addition, there is said to be so much space at Heroya that Nel's electrolyzer capacity in Norway could be increased to 2 GW per year.

Nel ASA CEO Jon André Lokke's statement should have given investors new hope: "We are proud to have produced the first batch of electrodes in our new, fully automated production facility at Herøya in the third quarter, and we are ready to start producing the Nikola and Everfuel orders in the fourth quarter."

Hydrogen is the missing piece of the puzzle in the energy transition. While battery-powered vehicles are relied on for passenger cars, nothing can beat fuel cells for heavy-duty transport. First Hydrogen has made a breakthrough with its partners, and at Nel ASA, the start of the fully automated production plant in the next few months will show where the road leads.


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

Conflict of interest & risk note

In accordance with §34b WpHG we would like to point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH may hold long or short positions in the aforementioned companies and that there may therefore be a conflict of interest. Apaton Finance GmbH may have a paid contractual relationship with the company, which is reported on in the context of the Apaton Finance GmbH Internet offer as well as in the social media, on partner sites or in e-mail messages. Further details can be found in our Conflict of Interest & Risk Disclosure.

Related comments:

26. November 2021 | 13:04 CET | by Fabian Lorenz

Plug Power with a bang - what are Nel and First Hydrogen up to?

  • Hydrogen

Hydrogen shares are in demand again. The basis for the industry is the political will for hydrogen to become a central pillar of the energy transition. It applies to numerous industrialized countries, and Germany's new traffic light coalition will also stick to it. But there is also positive news from the companies in operational terms. Following ThyssenKrupp's plans to float its hydrogen division on the stock market, Plug Power has now reported a major order with charisma. That should also give new impetus to hydrogen shares such as First Hydrogen and Nel.


25. November 2021 | 12:58 CET | by André Will-Laudien

Nel ASA, Enapter, Plug Power, ThyssenKrupp - Hydrogen now or never!

  • Hydrogen

It sounds crazy, yet we have arrived at the times when billionaires ask social platforms if they can flog a part of their shares to flush some money into the empty state coffers. In an age of powerful wealth shifts in favor of stock owners, this is perhaps legitimate, or nice, as it is sometimes referred to in the press. But appearances are deceptive. Behind a generally formulated question about whether one should sell shares lies the precise calculation of shifting blame if the announced sale causes a significant price loss. What then happens is a self-fulfilling prophecy with one small difference: the intention to sell was previously legitimized, so to speak, by public vote.


24. November 2021 | 13:25 CET | by Carsten Mainitz

Clean Logistics, Ballard Power Systems, Nel ASA - Hydrogen shows its strengths in logistics!

  • Hydrogen

It may seem as though the race for drive concepts of the future has been decided, and the e-drive in combination with battery storage has prevailed. However, in the area of transport logistics, the last word does not seem to have been spoken yet. Prominent examples here include the new cooperative concepts of Nikola and Bosch in fuel cell development or the cooperation between TotalEnergies and Renault in the area of small delivery vehicles. The following companies are also likely to benefit significantly from further advances in hydrogen technology.