November 3rd, 2021 | 13:50 CET
Plug Power, Enapter, SFC Energy - The hydrogen sector is alive
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"[...] Why should a modular electrolyzer cost more than a motorcycle? [...]" Sebastian-Justus Schmidt, CEO and Founder, Enapter AG
Hydrogen for the energy transition
To achieve long-term progress in climate protection, alternatives to fossil fuels are needed. Hydrogen is considered versatile in this respect and is likely to play a key 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.
On behalf of the National Hydrogen Council, three institutes of the Frauenhofer Institute analyzed the potential demand for hydrogen and hydrogen derivatives until 2050. The results showed that the more CO2 that is to be saved in Germany, the greater the demand for hydrogen. And the sooner the climate protection goals are to be achieved, the sooner these quantities must be available.
Enapter steps on the gas
A pioneering role is played by Enapter AG, the "Technology Pioneer 2021" awarded by the World Economic Forum. The first mover of the patented, modular AEM electrolysis technology is consistently implementing its plan to make green hydrogen cost-effective and thus competitive. The automated mass production of electrolyzers is scheduled to take place in the climate community of Saerbeck from the end of 2022. A production capacity of 10,000 units per month will be established in the Enapter campus, which covers more than 80,000 square meters.
The unique project is to be financed in part by a recently completed capital increase. In the process, 1.3 million shares were issued at EUR 23.00 each. The gross proceeds are therefore around EUR 30 million. The new shares were offered pre-placement through an accelerated bookbuilding process. They were allocated to a mix of German and international institutional investors, including "long-only" ESG investors from Norway, France, the UK and the US.
In addition to the 2021 Earthshot Prize initiated by Prince William, which recognizes companies researching inspiring and innovative solutions to address the grand environmental challenges of our time, an order was also announced for the new AEM Multicore System through distribution partner H2 Core Systems. The AEM Multicore System is a system for the production of hydrogen from alternative energy sources. The order in the low single-digit million range comes from the Steinbeis Innovation Center siz energie+, based in Braunschweig, Germany.
The analysts of Pareto Securities see Enapter AG as a buy candidate after the capital measure and assign a price target of EUR 34.00.
Still on the upswing
In the run-up to the share price increases, the fuel cell specialist Plug Power was already able to shine with promising partnerships. In addition to collaborations with the aircraft manufacturer Airbus and the refinery group Philipps 66, the US company announced a plan with Lhyfe, a producer of green hydrogen, to build plants in Europe. According to the plan, the goal is to produce a total hydrogen capacity of 300 MW by 2025 and develop a 1-GW production facility.
As part of this project, Plug Power's hydrogen electrolyzer technology will provide 1 MW of capacity for the world's first offshore hydrogen production facility, developed by Lhyfe. Plug Power's stock continues to present a strong performance. A sustained break above the USD 40 mark could generate further share price potential of around 30%.
Share price fireworks to an all-time high
The SFC Energy share is currently setting off a real price firework. By breaking out of the sideways range at EUR 30.00 that has existed since February, the shares of the manufacturer of direct methanol and hydrogen fuel cells, headquartered in Brunnthal near Munich, could climb to a new all-time high.
With PETRONAS Chemicals Group Berhad, SFC Energy was able to win an essential producer of high-purity methanol for its customers in the Asian region. From now on, users of EFOY fuel cells in the region can be supplied much more efficiently with methanol in commercially available fuel cartridges.
"We want to make our contribution in the Race-to-Zero by reducing the share of fossil raw materials in off-grid energy supply. High-purity methanol is an essential building block in achieving this goal. As part of our expansion in Asia, we can reach our local customers even better, save costs, and reduce our carbon footprint through more efficient logistics. In an environment of globally rising energy prices and tearing supply chains, we simultaneously increase the security of supply for all users of the EFOY fuel cell series", says Dr. Peter Podesser, CEO of SFC Energy AG.
After a long and severe correction, hydrogen stocks are performing again. Enapter was able to take a big step towards mass production by successfully completing a capital increase. Plug Power and SFC Energy both have strong momentum.
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