It’s been over 20 years since the “Magazin für Wasserstoff und Brennstoffzellen” started covering the hydrogen and fuel cell sector. H2Tec, as it was called at the time, was launched by Hanover-based SunMedia Verlags GmbH at the turn of this century. In 2005, the company decided to cease publication and transfer the rights to the trade magazine to Hydrogeit Verlag, then and now Germany’s premier source for books about hydrogen and fuel cells.
Many events that were to be held this spring have been either cancelled or postponed because of public health concerns over Covid-19. Hannover Messe and Düsseldorf-based Energy Storage Europe will only return in 2021, the latter between March 16 and 18 next year. Essen-based SHK, the largest show for heating and sanitation in Germany, has been rescheduled to take place in late summer, from Sept. 1 through 4, 2020.
Since the beginning of the year, the fuel cell stocks covered in this issue had seen a fast uptrend, which ended with the spread of Covid-19 around the world. Fears over the impact of the disease on the global economy meant some gains were quickly lost. Still, in light of increased news coverage, multiple project announcements and the growing popularity of green hydrogen, it has become clear that hydrogen and fuel cells are entering the mainstream and their breakthrough into the market is approaching rapidly.
Cashing in around the USD 5 mark, as I recommended, may have been a bit premature, seeing that the price rose as high as USD 6, but was ultimately a prudent move. At present, Plug Power’s stock again trades around USD 3. You may wonder what happened in the meantime. Simply put, expectations were too high. The net loss per share amounted to USD 0.06 in the fourth quarter of 2019. Revenue rose to USD 91.7 million, compared to USD 59.8 million generated in the prior-year quarter, which means there is some good news.
The manufacture of the new powerful LCS stack, through a Weichai-Ballard joint venture in China, will start in the second half, or around the middle, of 2020. In my opinion, it will lay the foundation for high, long-term growth in revenue and profit. Considering what month it is, we will not have to wait long to find out. The positive news coming from this will form the basis for price trends throughout the year. I estimate a big jump, as Ballard Power is the global leader in manufacturing fuel cells.
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