If one takes into account order bookings, collaborations, product developments and prospective markets, buying shares of fuel cell companies looks ever more promising. But the capitalization of the market leaders in fuel cells described in this article amount to a mere USD 750 million – a stark contrast to Tesla, the electric car pioneer, which has a market cap of USD 34 billion. These companies may very well get closer over the coming years, if Tesla gradually loses in value while fuel cell shares increase considerably in price.
Who would have thought that the world’s largest oil corporation and biggest US gas company is having a change of heart? In May this year, ExxonMobil concluded a research agreement with FCEL to develop the carbon capture technology into something that created a “more economical pathway.” Carbon dioxide from chemical and coal plants is said to be added together with hydrogen to produce methane, which would then be converted at high efficiency into electricity and heat. What is most important here is the technology‘s economic benefit
An energy self-sufficiency project is set to be tested on the Orkney Islands, UK: Hydrogen from wind power will be used for fuel cell range extenders integrated into electric vans to offer clean transportation. In April 2016, twelve partner companies from six EU countries were awarded the contract for this project
The idea to use fuel cells as range extenders for electric cars is gaining in popularity. Now, Magna International presented its own approach during the 37th International Motor Symposium in Vienna, Austria, at the end of April. As a base component, the Austrian automotive supplier uses a medium-size van, which can go 90 kilometers (56 miles) on electricity alone. But when the battery charge drops below a certain threshold, the fuel cell is turned on to regenerate the power storage
On May 1, 2016, Nikolas Iwan became the new CEO of H2 MOBILITY Germany. Iwan had previously worked for eight years in different management positions at Shell. His predecessor, Frank Sreball, who has had his own consultancy for management and interim management since 2005, had been the one originally setting up H2 MOBILITY on his own.
Many prominent figures from politics and business showed up to the H2Mobility conference in Berlin, Germany, in order to re-assure each other of the promises they had already made. Alexander Dobrindt kicked off the event held on the premises of his government department, the Federal Ministry of Transport and Digital Infrastructure (BMVI), before the Chinese transportation minister, Wan Gang, addressed the audience.
Large fuel cell systems in the megawatt range have so far been set up primarily in South Korea or the States. Now, Germany is said to get its first 1.4 MW plant. The new system by FuelCell Energy Solutions is currently being built in the Friedrichsfeld suburb of Mannheim (see photo). E.ON Connecting Energies has been implementing the Direct FuelCell® unit
Being nominated for this year’s GreenTec Awards had already been a success in its own right. But the company based in Rostock, Germany, even won the special startup award during the ninth edition of the eco-prize ceremony. The prizes were handed over during a gala at the International Congress Center Munich on May 29, 2016.
Elcore, a manufacturer of fuel cell heating systems, had already elevated Sascha Kuhn to a board position at the beginning of this year. The former CEO of Bayerngas Energy Trading is expected to use his management skills to advance the growth of the company located in Munich, Germany. Kuhn has had longtime experience in the energy industry and is considered a specialist in helping growth-phase businesses. At Elcore, he has taken over the commercial tasks at board level.
Roland Käppner‘s journey continues: After he had worked for Siemens for many years, he became CEO of McPhy Energy Germany. In August 2015, he then left for GKN Sinter Metals (see Roland Käppner Leaves for GKN). On July 1, 2016, he changed jobs and took on the position of head of business development and sales at the industrial division of thyssenkrupp.