As a result of the war in Ukraine, the switch to renewable energy, electric cars and green hydrogen is happening much faster. This not only drives their expansion, but also encourages price competition. The more expensive oil, gas and gasoline become, the more new technologies will benefit.
Nel gets a new job
The Norwegian company Nel (WKN: A0B733) produces electrolysers and hydrogen filling stations. Currently, companies are still expanding, so losses are incurred. But starting around 2025, the company is aiming for profitability with falling unit costs.
Recently, Nel from France received a new order. HysetCo wants to set up a fleet of hydrogen-powered taxis in Paris, for which it needs the right infrastructure. That’s why HysetCo is now ordering various fueling station modules from Nel Hydrogen Fueling.
While the parties do not provide details on the value and scope of the contract, HysetCo has already communicated that it intends to own around 20 hydrogen fueling stations by 2024. A major order could therefore be in the offing for Nel.
Air Liquide expands its hydrogen business
liquid air (WKN: 850133) is one of the world’s largest gas manufacturers. The French group is adapting to new developments. Green hydrogen will be needed in large quantities in the future to reduce industrial CO2 emissions. However, Air Liquide also wants its own production to be CO2 neutral by 2050 and is therefore investing in green hydrogen production.
The company would also like to use the gas to fuel its own sales growth. Therefore, around half of future investments will flow into energy transition technologies, with gas playing an important role. By 2030, Air Liquide wants to have an electrolyser capacity of 3 GW and by 2035, hydrogen sales should increase to more than 6 billion euros.
Thyssenkrupp cooperates with Steag
thyssenkrupp (WKN: 750000) wants to produce its steel without CO2 emissions in the future. To do this, the group uses green hydrogen produced with the help of renewable energies. For this reason, Thyssenkrupp has entered into a cooperation with the utility company Steag. It will supply the steel group at the Duisburg-Walsum site with renewable energy and green hydrogen.
Steag would like to build an electrolyser system with a capacity of 520 MW here by 2025. Thyssenkrupp also intends to use the oxygen produced during production for steel production. The group projects a new direct reduction plant for 1,200 million euros that uses green hydrogen instead of coke.
Sunfire supplies hydrogen electrolyser
Dresden-based company Sunfire will deliver a 20 MW alkaline electrolyser for a hydrogen project in Harjavalta, Finland, by 2023. The plant, operated by P2X Solutions, is scheduled to come online in 2024. In addition to supplying industry , P2X Solutions also wants to produce synthetic fuels.
The article Hydrogen: 4 News from Nel Stock, Air Liquide Stock, Thyssenkrupp Stock and Sunfire first appeared in The Motley Fool Germany.
Christof Welzel does not own any of the shares mentioned. The Motley Fool does not own any of the shares mentioned.
Motley Fool Germany 2022