Close menu

August 30th, 2022 | 11:12 CEST

Plug Power, dynaCERT, First Hydrogen - The winners of the hydrogen revolution

  • Hydrogen
  • Technology
  • Investments
Photo credits:

Time is of the essence. The Western world is in turmoil. In addition to the already tight targets to achieve CO2 neutrality, the declared sanctions against Russian crude oil and natural gas have put additional pressure on the pipeline. Politicians have high hopes for hydrogen technology. The joint declaration of intent to invest in hydrogen and establish a transatlantic supply corridor between Canada and Germany represents a quantum leap. The partnership heralds a kind of special boom for companies in the hydrogen segment and promises opportunities for disproportionately rising profits in the future.

time to read: 5 minutes | Author: Stefan Feulner
ISIN: PLUG POWER INC. DL-_01 | US72919P2020 , First Hydrogen Corp. | CA32057N1042 , DYNACERT INC. | CA26780A1084

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


    First Hydrogen - With force to North America

    The new star in the hydrogen sky is igniting the next stage and plans to expand into North America. The planned value chain could enable the Canadians to access the Canadian government's subsidies from several sides. With the "Clean Fuel Standard," Trudeau & Co. developed a program that supports financing for zero-emission medium- and heavy-duty vehicles. CAD 547.5 million is to be made available over a four-year period. In addition, CAD 3 billion is already reserved in the 2022 budget for zero-emission vehicles and related infrastructure.

    First Hydrogen is working with global partners such as Ballard Power and AVL Powertrain UK on the commercial hydrogen vehicle of the future. It uses existing technologies and a proven chassis, which creates time and cost advantages. The first operational readiness test runs of the two demonstration vehicles have already been completed. The fuel cell systems, including the stack supplied by Ballard Power Systems, have undergone extensive calibration and testing. The Company plans to conduct operational trials under real-world conditions with major fleet operators in early 2023.

    In addition to the utility van, refueling systems and the Company's own production of green hydrogen are on the agenda. A cooperation agreement was signed with FEV Consulting GmbH, based in Aachen, Germany, to develop a prototype for a customized refueling system for the hydrogen mobility market. Four green hydrogen production sites have been identified in the UK, and two projects have already been submitted for a first round of funding to the UK government's Net Zero Hydrogen Fund through its subsidiary First Hydrogen Limited. With funding from the Canadian government, First Hydrogen plans to develop additional production sites in North America, primarily in Canada.

    In the current year, First Hydrogen has outperformed its peer group, but with a market capitalization of about CAD 210 million, it is well behind Plug Power and Nel Asa. The visions from first-class management are big. If these are even partially carried out, the valuation could be adjusted to the competition in the next few years.

    dynaCERT - Small steps to the goal

    The shares of the Canadian energy company attracted attention due to their high volatility. dynaCERT develops and sells technologies to reduce carbon emissions. Since the beginning of the year, the share of the Canadians lost about 66% in value to CAD 0.10. However, experienced chartists could already recognize a bottom formation here, especially since the RSI and the MACD showed a clearly oversold situation. With the breakout above the mark of CAD 0.15, some short-sellers were probably caught on the wrong foot, so the dynaCERT share could more than double again to CAD 0.33 within one week. Due to the rapid increase, the share appeared overheated and corrected to CAD 0.22 in the following trading days. Technically, there is still a gap to close, which is currently at the breakout level of CAD 0.15.

    Fundamentally, dynaCERT could celebrate successes concerning the application within the Verified Carbon Standard program of Verra. The Company announced that Verra's Chief Program Development and Innovation Officer has signed an agreement with Earthood Services Private Limited to provide independent verification services in connection with dynaCERT's application under the Verified Carbon Standard program. To date, dynaCERT and Verra have worked through several steps regarding carbon credit initiatives. Now, the only pending items are for Verra to engage an approved validator to provide services in connection with the "methodology validation" per the terms and conditions set forth in the Agreement and the VCS Regulations.

    Currently, the parties dynaCERT, Earthood, Verra, and dynaCERT's consultant, International Environmental Partners Limited, are engaged in completing the VCS process so that dynaCERT's carbon credits achieve Verra's Verified Carbon Standard. Jim Payne, President and CEO of dynaCERT, commented, "dynaCERT is pleased to have now reached that point where Verra has approved the engagement of Earthood to verify our application under the Verified Carbon Standard, and we thank them for this important milestone."

    In terms of personnel, the Canadians were able to further strengthen their team by appointing Jeff Zajac as a director of the Company. Zajac is the founder and CEO of Facial Stats Ai, a company specializing in neural networks, computer vision and artificial intelligence in the Canadian, US, Mexican and Central American markets.

    The fact is, should the final positive decision come from Verra and the "Verra Verified Carbon Standard seal" be handed to dynaCERT, the recent interim highs should be history. Operationally, the decision would also attract more prominent customers, so the roll-out of the promising technologies could virtually be a no-brainer.

    Plug Power - Beware of dilution

    History repeats itself. What has just been hailed as a sensational deal between Plug Power and Amazon has happened many times in the past and is a clever financing strategy by the go-getting Plug Power CEO Andy Marsh.

    In 2017, Plug Power sold warrants to Amazon that gave the online giant the right to purchase up to 23%, or about 55,286,696 shares, of the Company's common stock tied to various events. The deal was struck partly to get Amazon to invest up to USD 600 million in Plug Power to make the warrants valid. Last year, these warrants were declared vested, and Amazon was thus able to dispose of them freely. The exercise price was USD 6.00. Since Amazon does not appear in the shareholder structure, the pieces were sold in 2021 at a significant profit. Plug Power closed a similar deal for the same number with Walmart in July 2017.

    For Plug Power, the current deal with Amazon represents a growth opportunity and could help the Company reach its revenue target of USD 3 billion in 2025. However, the exercise of the warrants will be significantly dilutive. So, once again, the remaining shareholders are footing the bill. Remember, Plug Power is not a stock market success story. Since the IPO in 1999, the share has lost 85% of its value.

    The agreement between Germany and Canada represents a quantum leap in the hydrogen industry. First Hydrogen could benefit by expanding into Canada. dynaCERT should rush to new shores once receiving a favourable ruling from Verra. Caution is advised for Plug Power despite the Amazon deal.

    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.

    Risk notice

    Apaton Finance GmbH offers editors, agencies and companies the opportunity to publish commentaries, interviews, summaries, news and the like on These contents are exclusively for the information of the readers and do not represent any call to action or recommendations, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. The contents do not replace individual expert investment advice and do not constitute an offer to sell the discussed share(s) or other financial instruments, nor an invitation to buy or sell such.

    The content is expressly not a financial analysis, but a journalistic or advertising text. Readers or users who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between Apaton Finance GmbH and its readers or the users of its offers, as our information only refers to the company and not to the investment decision of the reader or user.

    The acquisition of financial instruments involves high risks, which can lead to the total loss of the invested capital. The information published by Apaton Finance GmbH and its authors is based on careful research. Nevertheless, no liability is assumed for financial losses or a content-related guarantee for the topicality, correctness, appropriateness and completeness of the content provided here. Please also note our Terms of use.

    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 Fabian Lorenz on February 3rd, 2023 | 09:58 CET

    Hydrogen shares: New favourites First Hydrogen and PNE instead of Plug Power and ITM Power?

    • Hydrogen
    • greenhydrogen
    • renewableenergies

    Hydrogen stocks have electrified investors' imaginations for years. But 2022 pure plays like Plug Power, Nel and ITM Power have disappointed. Not just in terms of share price performance but operationally as well. In contrast, newcomer First Hydrogen was one of the high flyers. The share price shot up by more than 100%, and the hydrogen commercial vehicles passed the tests. The Canadians want to continue to step on the gas in the current year. The share should benefit from this again; at CAD 200 million, it does not appear expensive. Now the German PNE is also entering the billion-dollar market. Following the end of takeover speculation, new impetus from green hydrogen is welcome. ITM Power sends a sign of life with an order from Linde.


    Commented by Armin Schulz on February 1st, 2023 | 20:22 CET

    Altech Advanced Materials, Mercedes-Benz Group, NIO - Electric mobility on the verge of a revolution

    • Innovations
    • Technology
    • Electromobility

    Electric cars are becoming increasingly popular as a sustainable mode of transportation. As technology improves, this type of vehicle is becoming more attractive to investors looking for an environmentally friendly option. However, some important issues still need to be addressed before electric cars become a natural alternative for most people. Chief issues are battery charging times, limited range, and safety. Today, we look at Altech Advanced Materials, a company that has developed a solution to the problems, and look at the current status of two automakers.


    Commented by André Will-Laudien on January 31st, 2023 | 14:50 CET

    E-mobility 2023: The Tesla hunters are coming! BYD, Lucid Motors, Tocvan Ventures. Will the Varta share now also fly?

    • Mining
    • Gold
    • Electromobility
    • Investments

    It Is hard to believe! The Tesla share is once again making a name for itself. Analysts went into the presentation of the annual figures with cautious expectations because there were many negative rumors surrounding Elon Musk's electronics company: Fewer sales? Cars on stockpile? Again, it came as no one had expected it. Elon Musk delivered and simultaneously mocked all the shorties who wanted to push his stock below USD 100 at the turn of the year. This gambit went badly wrong because Tesla was able to deliver even better figures than expected, and there was no stopping the share. With plus 70% in only 4 weeks, the Tesla share belongs to the shooting stars since the turn of the year - the short sellers must have lost their desire completely. But the variety of interesting shares is significant. Where are the opportunities for e-investors lurking?