December 1st, 2021 | 14:49 CET
Nel ASA, First Hydrogen, Plug Power - When will the next hydrogen wave come?
It can be frightening to watch the prices on the stock markets flashing red everywhere in the short term. The number of infections continues to rise worldwide, and a mutant called Omicron is spilling over from South Africa. On the other hand, the central banks continue to pour new money into the markets to promote economic growth. Hydrogen stocks are also correcting sharply at the moment, an opportunity for bold investors to position themselves for the long term.
time to read: 3 minutes
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Author:
Stefan Feulner
ISIN:
NEL ASA NK-_20 | NO0010081235 , First Hydrogen Corp. | CA32057N1042 , PLUG POWER INC. DL-_01 | US72919P2020
Table of contents:
"[...] 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
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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Powerful political support
Companies in the hydrogen sector have an advantage due to stricter climate targets, decided by politicians at the recently concluded World Climate Conference; the industry is massively promoted and subsidized. Gas is seen as the missing piece of the puzzle when transforming fossil carriers into renewable energies. Hydrogen is seen as versatile and is likely to play a critical role in the future. Green hydrogen, in particular, makes it possible to significantly reduce CO2 emissions in industry and transportation in areas where energy efficiency and the direct use of electricity from renewable sources such as wind and solar power are not sufficient.
Heavy cars with hydrogen
In contrast to the passenger car sector, currently relying mainly on battery-powered vehicles, research into heavy vehicles such as trucks and ships is focusing on hydrogen-powered engines, as they offer a greater range and shorter recharging times. Entering this market, First Hydrogen, a Canadian company based in Vancouver, aims to become the leading designer and manufacturer of zero-emission, long-range hydrogen-powered commercial vehicles in the UK, EU and North America.
With strong partnerships and a "Best of Strategy" - here, for example, the Company uses a proven chassis - it aims to save time and money. Joining them on board are two global players that support the production of light commercial vehicles with a range of over 500 km. Ballard Power, a global provider of innovative clean energy with a hydrogen fuel cell fleet, has been enlisted for its technology. A definitive agreement was reached for the design with AVL Powertrain UK, the world's largest independent automotive engineering, simulation and testing company.
In addition, First Hydrogen will also offer fuel cell-powered supercritical CO2 extraction systems, allowing users to operate them in remote locations where no power grid is available, or power supply is unstable. The Company, which is also listed in Frankfurt, has a market capitalization of EUR 58.22 million. Still, a moderate valuation compared to its US competitors.
Launch in Norway
Nel ASA is a globally operating Norwegian company based in Oslo that supplies solutions for the production of hydrogen from electrical energy and its storage and distribution. The music for the Norwegians, however, is currently being played in their home country. Here, they recently started production in the fully automated plant in Heroya. If the strategy of the CEO of Nel ASA, Jon André Lokke, is correct, the orders for Nikola and Everfuel will be started.
From a technical perspective, the stock could be getting ready to retest the EUR 2.06 level. On the downside, holding the prominent support at EUR 1.70 would be of enormous importance to jeopardize the recovery that has been underway since the beginning of October.
Further cooperation
Plug Power is currently focusing on cooperations with strong partners. The latest joint venture has now been concluded with ACCIONA Energia, the world's largest 100% renewable energy company that does not rely on fossil fuels and has more than 11 GW of renewable energy in 16 countries, under the name AccionaPlug. The partner company is based in Madrid. From there, green hydrogen projects will be developed, operated and maintained throughout Spain and Portugal.
AccionaPlug also plans to offer its customers storage, transportation, and delivery services, initially targeting the industrial and mobility business segments. AccionaPlug targets hydrogen production facilities located directly at industrial customers and stand-alone facilities that produce hydrogen for regional distribution. The first plants are expected to be operational in 2023. The new company aims to have a significant market share of the green hydrogen business in Spain and Portugal by 2030 and plans to produce over 100t of green hydrogen per day in the medium term.
Even if the short term is turbulent because of the new Corona variant, further rising prices are projected. There is high long-term potential in the hydrogen sector. Plug Power is increasingly strengthening its position through cooperations. First Hydrogen also has good prospects thanks to globally leading partners.
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