Ballard Power: Good Start with Strong First Quarter

Kenworth
Rendering model of the H2-driven T680, © Kenworth

One good piece of fuel cell news after another: Businesses on the stock exchange, such as the ones discussed in these news articles, have announced a series of large orders, new strategic partnerships, technological advances and new investors (also strategic ones), and some (quarterly) results or forecasts promise interesting times ahead on the way to a hydrogen society. Share prices are gradually starting to reflect the positive development

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Plug Power: Big Amazon Order and Investment

Amazon
Amazon also has interest in solar, © Amazon

First-quarter figures this year differed from expectations. You could say: They were abysmal. A net loss of USD 24.1 million attributable to common shareholders, meaning a loss of USD 0.13 instead of USD 0.07 per diluted share. Plug’s possibly very disadvantageous Walmart business (forklift retrofits financed through leasing) is still making an impact that shows on the balance sheet.

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FuelCell Energy: Unexpected Capital Raise

shares
© www.wallstreet-online.de, May 20, 2017

On April 27, 2017, FuelCell Energy (NASDAQ: FCEL) took everyone by surprise when it announced that it intended to raise USD 15.4 million in capital through an underwritten public offering. The net proceeds amounted to USD 13.8 million at USD 1.28 per share, meaning 15 per cent above current stock quotes. At the same time, it issued one-year warrants priced at USD 1.28 per share, exercisable at any time, and five-year ones at USD 1.60 per share, including the same option (convertible into shares).

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Hydrogenics: Chinese Investor Confirmed

stack
Presenting the new electrolysis stacks

Before the capital raise, a Chinese-based investor, Fuzhou Bonded Zone Hejili Equity, made a private placement to Hydrogenics (NASDAQ: HYGS) at a price that was 10 per cent above the average stock quote, meaning USD 7.83 per share. This has all the hallmarks of a good deal for Hydrogenics and shows the trust that the strategic investor has in its decision. Hejili paid USD 21 million for those shares

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Tesla: Squeeze, Bull Trap, Hangover?

Tesla
Model 3, © Tesla

Profit from 2017‘s first quarter was less than persuasive, as minus USD 1.33 per share (before extraordinary items/losses) was a much higher fall than the, on average, USD 0.81 in loss analysts had expected. First-quarter net loss added up to around USD 330 million. That revenue grew strongly by 69 per cent (compared to the same quarter last year) to USD 2.7 billion is a positive.

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ITM Power: New to the Market

Shell
Shell station by ITM Power in the UK, © ITM

ITM Power (NASDAQ: ITMPF) is the first R&D fuel cell business from the UK making the jump onto the British stock exchange. ITM manufacturers power-to-gas systems, H2 filling stations and electrolyzers. Currently, it is working on a module-based electrolyzer that could allow for combinations offering up to 100 MW capacity.

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Linde Wants Praxair

Since last December, industrial gas supplier Linde has been trying in a second attempt to merge with its American competitor Praxair. On June 2, 2017, Linde’s supervisory board finally approved the merger, a decision that was not without controversy. As Reuters has reported, one of the six worker representatives had abstained from voting, effectively turning a split decision into a six-to-five vote in favor of the deal.

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Build-up of an H2 Economy

Stack
Next Generation Fuel Cell Stack, © GM

Japan remains fully committed to integrating hydrogen into its national energy mix, and is looking to Europe and to a lesser extent the U.S. for markets and research support. Developers f residential fuel cell systems have all found European partners to bid for FCH-JU funding. And Japan’s Toyota has quietly led an international effort to engage corporations

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Electrolyzer Manufacturers Stake Their Claims

M-Series
M Series, © Proton OnSite

There has been quite an interest in energy storage recently. And as ever more power-to-gas systems have been popping up all over Germany, project planners are increasingly turning their attention to the key elements found on-site: electrolyzers. These electrochemical units to create hydrogen have been around for a long time.

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H2 Producers Show Confidence

Sunfire
Container solution, © sunfire

When we compiled our list of currently available electrolyzers, we also asked manufacturers for their opinion on the market outlook of hydrogen technologies in Europe. Their assessment tended toward the positive; all ten businesses participating in the survey at least somewhat agreed that hydrogen technologies were developing at a satisfactory rate across the continent.

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