27, 1999, the first residential fuel cell systems were to be launched in 2001 and 100,000 systems per year were to be sold by 2003.
#Plug power news registration#
As a leading designer and developer of on-site power generation systems supplying residential proton exchange membrane (PEM) fuel cells, as written in the FORM S-1 REGISTRATION STATEMENT of Aug. McNamee as a joint venture project of DTE Energy in cooperation with Mechanical Technology Inc.
Plug Power was founded in 1997 by George C. The consolidation is therefore unlikely to be over, and many companies will disappear from the price list altogether in the future. Despite the sharp corrections of individual stocks, overpriced valuations are still being paid. However, one should keep in mind that there is a lot of fantasy priced into the entire hydrogen segment. Compared to similar companies in the sector, the industry leader Plug Power is not overvalued. For this reason, only the price/sales ratio (P/S ratio) based on the annual figures for 2021 can be used as an indicator for peer group comparison. Profits are not yet to be found in hydrogen and fuel cell companies, and even the revenues generated do not justify in the slightest the stock market valuations, which are in some cases in the billions. Since the beginning of 2020, hydrogen and fuel cell company stocks have been rallying in a manner reminiscent of the New Market days of the early 2000s. In most modeled markets, this would bring prices below USD 1.00 per kg, undercutting traditional energy sources such as diesel. In conjunction with the expansion of wind and solar power, Bloomberg NEF 2Įxpects that there will be an 85% decrease in the extraction cost of green hydrogen by 2050. This is produced by electrolysis of water, whereby only electricity from renewable energies is used. The solution for a drastic medium-term price reduction lies in the production of green hydrogen.
Currently, 1kg still costs around EUR 9.50. It is therefore expensive and problematic to produce and transport. Since hydrogen does not occur in an unbound state, it must first be obtained using energy. The fact that fuel cells are not yet commercially widespread, as was hoped at the beginning of developments, is partly due to high costs. Mobile applications include fuel technologies for powering motor vehicles, forklifts, drones or boats, while stationary applications include systems for powering buildings.
#Plug power news portable#
Portable applications include powering electronic devices such as laptops and smartphones.
In the civilian sector, three main areas of application are being tested: portable, mobile and stationary. Up to now, fuel cells have been used almost exclusively for space or military purposes. The range of applications for hydrogen fuel cells extends from heat and power supply in buildings to off-grid applications and the propulsion of vehicles, aircraft and ships.Ĭurrently costs 1kg hydrogen at the filling station. By converting chemical energy directly into electrical energy and heat, hydrogen fuel cells have significantly higher efficiencies than conventional power plants. Fuel cells generate electricity and heat from hydrogen and oxygen. Key technology that can be used across all industriesįuel cell technology is needed to generate electricity from hydrogen. In this respect, the market leader Plug Power sees itself well-positioned. 1 Fuel cell technology is seen as a key element of the future. In 2021, the German federal government made EUR 8 billion available for 62 selected projects. The National Hydrogen Strategy aims to establish green hydrogen, especially from renewable energies. Hydrogen produced in a climate-friendly way makes it possible to significantly reduce CO2 emissions, especially in industry and transportation, where energy efficiency and the direct use of electricity from renewable sources are not sufficient. In his 1874 novel "The Mysterious Island," author Jules Verne described water as the "coal of the future". The vision of hydrogen as an energy carrier has been around for a long time. In addition to photovoltaics and wind energy, hydrogen, which can be used in a variety of ways, is considered a key element.
In order to successfully implement the energy transition and achieve the goal of climate neutrality, society needs alternatives to fossil fuels.
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