This Monday, January 11th, 2021 Plug Power(PLUG) closed at $53.97 in the latest share trading session, it has gained 98% over the past month. Today with a fresh expansion announcement it is standing at $64.02 at this moment of time. Clearly, Plug Power is outpacing the Industrial Sector. It belongs as one of the alternative energy company stocks that focuses on green hydrogen, the present ultimate answer to as close as you can get to a zero-carbon fuel.
So what is going on? What is causing this incredible jump and market sentiment?
To add a little more to this “what is going on” let me do something else.
Why do I compare Plug Power to Apple in past years? It is simply how its stock has rapidly accelerated away in the past year or perhaps the growing expectation of sizable growth to come, on new products and market penetration.
Being restricted, not able to travel has its benefits, you gain more time to climb into your own reading, research or passions. For me, this has been my “Energy Transition” year.
The sheer amount of articles, reports or webinars around all aspects of energy have been partly overwhelming but significant in their reference and knowledge gaining. This intensity of purpose towards the energy transition has given me an enormous boost in its understanding.
When I reflect back on this 2020 year, recognising the needs to make a significant energy change has really gained a very high awareness.
We are at the point where “the rubber hits the road” or in Green Hydrogen’s case “the water needs to turn into H2 at scale and real value” and for that to happen it needs a massive commitment across so much that is work-in-progress today.
So much of where we are in Hydrogen is more of a promise theory or intent, than a reality. We need to moderate our rhetoric and provide realism before we completely overhype the green hydrogen. Impatience and growing frustration might kill off the hydrogen solution (again).
We need to massively be able to scale out solutions like the electrolyzer. We need to radically bring down existing production costs through different technology applications and design. We have to build a dedicated infrastructure and create real sustaining market demand. Today producing hydrogen means possible energy losses on the alternative. Continue reading “A Massive Dose of Hydrogen Reality”
Further major Energy Solution Providers have announced their intentions of withdrawing from Coal.
Toshiba will stop taking orders for coal-fired power plants in line with growing global trends toward reducing carbon emissions. Toshiba holds 11% of the global thermal-power generation market, excluding China. This includes building power plants, producing steam turbines and providing maintenance. While the company will stop accepting new orders for coal-burning plants, it will build 10 stations under existing orders in Japan, Vietnam and other countries.
Siemens Energy, which builds steam turbines for power plants, will no longer take on new business to supply coal-fired powered stations, it said on 10th November 2020 making it the latest firm to scale back fossil fuel-related operations. Selling turbines to coal-fired power plants accounts for a low single-digit percentage of the company’s sales or roughly 820 million euros ($970 million) based on 2020 figures. According to a recent comment, the business was profitable. Siemens Energy has stated it will still meet existing commitments, including placed bids, and honour service contracts for combined heat and power stations but not engage in further coal business (Source Reuters).
Also Black & Veatch, an engineering and construction firm, has announced it also will cease participation in any further coal-based power design and construction. This shift allows its workforce to further accelerate the creation of solutions that help transform the industry, including helping clients reduce dependence on coal power assets and minimize the impact of those assets to the environment. The company says its transition away from any coal-related activity is about a commitment to sustainability and accelerating efforts toward a carbon-free energy future, reported the press release.
I have just finished the third and final day of panel events offered by #SiemensEnergyME in their #EnergyWeek. I took the time to attend all of the panels, the debates, the complexities, and the significant differences as starting points in the #energytransition we are all undertaking was well brought home.
The panels were full of highly knowledgeable people, the hands-on ones that are dealing with the energy issues of today each day, and thinking through the ones for tomorrow. Siemens drew in Ministers, CEO’s, Senior Management, CFO’s, CTO’s and Director-Generals to offer insights and create the atmosphere for what I would call “creative tension” that good knowledge brings to a debate.
The big four needs of the Energy Transition for clean energy are achieving greater Electrification from renewables, building out Hydrogen, sustainable Bioenergy, and Carbon Capture. These are suggested as the main pillars to get us moving towards the Net Zero targets of eradicating the harmful emissions by the 2050 to 2070 range. We have a long way to go in time, commitment, and investments. I also feel in belief!
Hydrogen is undoubtedly becoming the big agenda ticket within any Energy Transition. It is the promise of being a central pillar for many parts of the world to achieve their decarbonization targets to get as close as they can to zero carbon by mid-century.
Hydrogen seems to hold, it seems, such a promise, but it is nearly all to do. There is so much to validate, prove, and certainly scale. We have some exciting pilots, even some emerging commercial-scale projects.
Still, these pilots or pockets of limited commercialization are not connected up or integrated into a Hydrogen Economy. So far we are not able to scale sufficiently to generate that same unstoppable momentum that Wind and Solar as sustainable renewables are achieving, in dislodging fossil fuels.
Today we do not yet have a Hydrogen infrastructure, market and price competitiveness, or overarching policies to build into a movement that shifts the energy needle.