A few months ago, Plug Power [Nasdaq: PLUG] was forced to revise several of its previously published financial statements. While the accounting errors were not severe enough to have a material impact on the statements, they resulted in a USD 62.9 million decrease in R&D costs in the years 2018 to 2020 and a corresponding rise in cost revenue. Furthermore, non-cash charges, including charges associated with warrants Plug granted to Amazon and Walmart, exceeded USD 400 million. That’s pretty notable. Do these charges have anything to do with Plug’s relatively high amount of short interest, which comes to over 50 million shares? Could Amazon and Walmart have exercised warrants? Or have they now shorted stock to shore up their unrealized gains running into the billions of dollars?
H2 projects in Norway, the Netherlands, Portugal and France
In June 2020, the German government adopted a national hydrogen strategy, spelling out clear ambitions, concrete targets and a solid plan of action for the next 20 years, including an increase in production capacity to 5 gigawatts by 2030 and 10 gigawatts by 2040. Overall, the country will invest EUR 9 billion in new business and R&D ventures. By 2050, hydrogen produced in Germany could cost less than EUR 1 per kilogram.
Fuel cell stack monitoring
A fuel cell stack is a living organism and individual cell voltages report its vital signs. Which is why fuel cell vehicles are usually equipped with a monitoring system promptly drawing attention to critical operating conditions and enabling immediate response. It is absolutely necessary to reduce system costs before mass production can begin. Automated installations is a good place to start.
HYPOS has been successful in making the transition from an idea on the drawing board to a big consortium that has sparked a variety of projects. Ten years ago, almost nobody knew of the combined hydrogen expertise in mid-Germany. Now, HYPOS has amassed a network of 116 partners, 75 from business and 41 from the scientific community.
As predicted several times before, #dieselgate is the driver of upcoming changes at German carmaker Volkswagen. In March 2016, it was said that the Wolfsburg-based corporation would concentrate all fuel cell activities at its Audi subsidiary. This will necessitate a move of most of the fuel cell research, which has so far been conducted in the German city of Salzgitter. Stefan Knirsch, board member and head of development at Audi, told the magazine Automobilwoche: “This January, the task of corporate research on fuel cell engines was given to Audi.” And VW’s board of directors had supported the concentration of activities.
Japan’s federal R,D&D budget for the 2016 fiscal year, which starts April 1, 2016, is 37.1 billion yen (285 million Euro), according to a recent report from Technova, a Japanese advanced technology consultancy. The total includes continuing support for the successful Ene-Farm residential fuel cell program, which will support an estimated 50,000 residential installations this year.
Since August 1, there has been a new CEO at the helm of H-Tec’s electrolysis division: Michael Seehuber, who is now managing H-Tec Systems. Seehuber will take over the responsibilities previously held by Uwe Küter, who founded H-Tec in 1997 together with Stefan Höller and left the company in 2014. The company’s former Head of Sales, Ake Johnson, will manage the training division, H-Tec Education. For seven years, Michael Seehuber was CEO of REFUsol, a specialist in inverters, which was bought up by AEI Power in 2013. In August 2014, the electrical engineer established PV4Life, a consultancy for power electronics. Ove Petersen,