FuelCell Energy’s quarterly results weren’t the reason for the year-end price surge from around USD 2 to over USD 11. At times, more than 200 million trades were concluded in one day, which exceeds the total shares outstanding. I believe we’re witnessing the impact of high-frequency or day trades or swarm-like investor activity via, e.g., Robinhood. Right before the rally, Heights Capital Management reported the purchase of 19 million FuelCell shares, giving the private equity firm a 6.7 percent stake in the fuel cell business.
What a year we’ve had. Rarely has so much, in such a short time, changed in the energy sector, particularly for the hydrogen industry. For starters, we have witnessed the arrival of a national hydrogen strategy, council and office, a European Green Deal, a European Clean Hydrogen Alliance, RED II and the IPCEI Hydrogen, as well as revisions to the German EEG.
One woman retires, another takes her place: On Oct. 1, 2020, Anke Kaysser-Pyzalla, was appointed chairwoman of the German Aerospace Center, DLR. A materials scientist and engineer, she took over for Pascale Ehrenfreund, who had held the position since August 2015. Kaysser-Pyzalla said she is looking forward to “leading such a multi-faceted, interdisciplinary organization.” In addition to developing aviation and aerospace technology, the DLR focuses on research into energy, transportation, safety and security, and digitalization solutions. More than 9,000 people work for a total of 51 DLR institutes at 30 locations in Germany.
In mid-November 2020, diesel and gas engine maker Cummins, which has more than 6,700 employees in Europe, announced plans to erect a production site above Germany’s defunct Ewald mine in Herten. The decision was not surprising. Hydrogenics Germany lies a mere 20 kilometers west of Herten, and Cummins acquired parent company Hydrogenics Corp. in September 2019.
As third-quarter results faded in the rear-view mirror, Bloom Energy stock rebounded with a vengeance following a temporary slump. Natural disasters, including storms and floods, prevented the completion of 41 projects, pushing revenue below the anticipated USD 225 million to USD 200 million, And yet, the company’s USD 12 million in the red means Bloom [NYSE: BE] performed much better than expected. The net loss was “only” USD 0.09 per share instead of USD 0.16 and including non-recurring revenues, that loss shrank to as little as USD 0.04 a share.
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