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September 30th, 2022 | 14:17 CEST

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

  • renewableenergies
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High diesel and gasoline prices on the one hand, the achievement of climate targets with the conversion of fossil fuels to freedom energies on the other. The economy, and the transport sector in particular, is facing a mammoth task. One company may now have achieved a breakthrough. The patented technology combines two solutions to the problem: fuel saving while minimizing CO2 emissions. So far, this breakthrough has been little noticed by the broader market.

time to read: 4 minutes | Author: Stefan Feulner
ISIN: DYNACERT INC. | CA26780A1084 , PLUG POWER INC. DL-_01 | US72919P2020 , NEL ASA NK-_20 | NO0010081235

Table of contents:

    Plug Power - Offshore project with a world premiere

    The long-term vision of the US company, the market leader in fuel cell technology, is to build a comprehensive ecosystem for green hydrogen, from production to storage, delivery and power generation. With the joint venture partner, the French producer of green hydrogen, Lhyfe, a milestone for future H2 production was reached in the "Sealhyfe" project.

    This announced the world's first production of hydrogen at sea on a floating platform using a state-of-the-art 1 MW electrolyzer from Plug at an offshore green hydrogen site in Saint-Nazaire, France. Here, Plug Power's electrolyzer is powered directly by offshore wind turbines. Plug's 1 MW EX-425D electrolyzer will be the first electrolyzer to operate on a floating platform in extreme conditions. The electrolyzer system has been marinized to meet acceleration, tilt and other marine specifications. In doing so, the Sealhyfe project can be considered a proof of concept for future offshore green hydrogen production. The project will be operated for 6 months at the pier and then for 12 months off the coast of Le Croisic at the SEM-REV offshore test site of the French engineering school Centrale Nantes.

    Despite the pioneering work with a view to future offshore projects, Plug Power's shares are again clearly on the retreat after three unsuccessful attempts to sustainably crack the USD 30 mark. The share is currently quoted at USD 21.04. Still wide open is the price gap that broke at the end of August, which would not be closed until USD 17.32.

    dynaCERT - Open for the mass market

    On Tuesday, CEO Jim Payne presented the merits of the patented HydraGEN technology at the 4th IIF - International Investment Forum. dynaCERT Inc. manufactures and markets the Carbon Emissions Reduction Technology along with the Company's proprietary HydraLytica telematics, a means of monitoring fuel consumption and calculating GHG emissions savings designed to track potential future carbon credits for use with internal combustion engines.

    Due to the massive Corona restrictions, there have been postponements over the past two years, which has prevented the innovative technology from achieving a breakthrough in commercialization. Of particular interest during the Q&A session at the IIF was the question about the cash situation. According to this, dynaCERT has enough funds for another 5 months without generating any sales. The experienced company leader is not thinking of a capital increase, instead, he recommends following the extensive announcements in the next quarter. Major technology sales are expected here, which could put dynaCERT in a good financial position.

    The collaboration with Alectra Utilities, the largest municipal electric utility in Canada by total customers served, could now open the door wide for HydraGEN technology to enter the mass market. In fact, Alectra Utilities Corp. was recognized by the Windfall Ecology Centre, a Canadian nonprofit, for using dynaCERT's HydraGEN technology to reduce fleet vehicle emissions and fuel costs.

    Last year, Alectra launched a pilot program that closely monitored 13 of the utility's vehicles equipped with dynaCERT's patented technology. It saved over 8,000kg of CO2, and each vehicle reduced its diesel consumption by an average of 230l for various utility vehicles. The results of the pilot program showed that Alectra was able to reduce its CO2 emissions and fuel costs by more than 10%**, based on 2021 data from Alectra's entire fleet.

    "We are honored to receive the Most Innovative Leader Award for this pilot project," said Brian Bentz, president and CEO of Alectra Inc. "We are significantly reducing our emissions and fuel costs for our fleet. That will bring us one step closer to achieving our net-zero goal by 2050. We look forward to doing our part and collaborating on more groundbreaking projects to help create a low-carbon future." Alectra maintains 605 fleet vehicles, according to last year's financial statements.

    Nel ASA - competitors step on the gas

    While French competitor Lhyfe is pioneering with the inauguration of its offshore green hydrogen production plant, Norwegian competitor Nel ASA is left with only a spectator role at the moment. The French company's press release, for example, clearly stated its unique selling point so far: "The production of hydrogen with offshore wind turbines could allow all countries with a coastline to have access to renewable green hydrogen produced locally, beyond the horizon line and in industrial quantities to decarbonize transport and industry. To date, however, no one has produced hydrogen at sea."

    From a chart perspective, the Norwegian share threatens to retest the year's lows at NOK 10.50. It would now be imperative to hold the current support level at NOK 11.49.

    The transition from fossil fuels requires innovations. Plug Power could make history in collaboration with Lhyfe. With the successfully tested HydraGEN technology by Alectra Utilities, dynaCERT should be ready for the mass market. Nel ASA is again facing the threat of a fall towards the lows for the year.

    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

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