Investment in hydrogen could surge. In fact, according to a new report from Bloomberg Intelligence, as noted by Energy Global, “During 2018 - 2020, investments averaged approximately US$1.5 billion a year, Bloomberg data shows. This will likely increase to US$38 billion per annum during 2019 - 2040 and US$181 billion annually during 2041 - 2070, according to International Energy Agency (IEA) projections.” That could be big news for companies like
Jericho Energy Ventures (TSXV:JEV)(OTC:JROOF), Plug Power (NASDAQ:PLUG), Ballard Power (NASDAQ:BLDP), Bloom Energy (NYSE:BE), and FuelCell Energy (NASDAQ:FCEL).
Plus, with countries all over the world pledging to reduce emissions, “Hydrogen would be necessary for the world's largest emitters – the US, China, and Europe – to achieve net-zero climate targets by 2050 - 2060 by decarbonizing hard to abate industries,” they added.
Look at Jericho Energy Ventures (TSXV:JEV)(OTC:JROOF)
Jericho Energy Ventures just announced its wholly owned subsidiary, Hydrogen Technologies Inc has introduced its newest Generation 2.0 cleanH2steam DCC Boiler 3000 Series design.
Since Jericho’s acquisition of HTI in February 2021, HTI’s engineering team along with their UK manufacturing partner, UnitBirwelco, has been refining and improving their previous Generation 1.0 design to meet and exceed customer expectations in the steam boiler market. HTI’s Generation 2.0 DCC™ Boiler has an improved and streamlined fuel delivery system featuring high precision mass flow meters, increased process monitoring and remote management options. The engineering team also made improvements to the ignitor design providing optimum combustion resulting in higher thermal efficiencies.
The engineering design was also accompanied by an active procurement strategy which led to metallurgy changes that address the current high cost and long lead time of stainless steel in global supply chains. Providing a cost effective cleanH2steam DCC™ boiler is one of HTI’s highest priorities.
Brian Williamson, CEO of JEV, stated, “We are proud to introduce our new Generation 2.0 of our breakthrough cleanH2steam DCC™ boiler solution. We are grateful for the teamwork and ongoing relationship with UnitBirwelco and look forward to helping reduce global emissions as we commercialize our zero emission boiler for the commercial and industrial steam market. I would also like to thank HTI’s President, Janet Reiser along with the Founder & Chief Technology Officer of HTI, Ed Stockton, for leading the charge to improve upon this world class technology.”
Other related developments from around the markets include:
Plug Power, a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, announces Benjamin Haycraft as the Company’s newest Vice President of Strategy and Business Development, Europe. This appointment confirms Plug Power's desire to accelerate its development opportunities in Europe. Before joining Plug Power, Benjamin Haycraft advised the Company as a Santander banker, resulting in the announcement of the joint-venture projects at the start of 2021 with European leaders including the Renault Group in France and Acciona in the Iberian Peninsula. Located in France, Benjamin Haycraft will be responsible for executing the European Plug Power strategy, sourcing external growth opportunities, acting as commercial interface between Plug Power and its partners, and deploying green hydrogen generation and distribution infrastructure.
Ballard Power announced consolidated financial results for the first quarter ended March 31, 2021. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS). “Supported by a strengthening policy backdrop and increased customer engagement, we have clearer line of sight on long-term growth in our core medium- and heavy-duty motive applications of bus, truck, rail and marine,” said Randy MacEwen, President and CEO. “As a result, 2021 will be marked by increased and accelerated investment ahead of market tipping points. Bolstered by a fortified balance sheet, we will deepen our investments in talent, technology, products, advanced manufacturing, localization and customer experience.”
Bloom Energyannounced an agreement with Idaho National Laboratory (INL) to independently test the use of nuclear energy to create clean hydrogen through Bloom Energy’s solid oxide, high-temperature electrolyzer. This carbon-free hydrogen is obtained through electrolysis that is powered by nuclear generation. When the electric grid has ample power, rather than ramping down power generation, the electricity generated by nuclear plants can be used to produce cost-effective hydrogen in support of the burgeoning hydrogen economy.
FuelCell Energy, a global leader in fuel cell technology with a purpose of utilizing its proprietary, state-of-the-art fuel cell platforms to enable a world empowered by clean energy— announces progress toward achieving commercial deployment of its solid oxide fuel cell (SOFC) technology. The technical progress in ongoing programs is further advanced with additional funding provided by the U.S. Department of Energy (DOE). The Company is pleased to report that based on its progress and differentiated platform it has been awarded Phase 2 funding in the amount of $8 million for the previously announced ARPA-E project for development of ultra-high efficiency SOFC systems for power generation.
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