#Cleantech and #ClimateChange Podcast – Hydrogen and #FuelCell Stocks on the Run - (NASDAQ: $BLDP) (TSX: $BLDP.TO), (NASDAQ: $FCEL) (NASDAQ: $PLUG)
Automotive Fuel Cell Market to reach USD 17.24 Billion by 2026, Better Fuel Efficiency Properties of Vehicles to Help Boost Market, says Fortune Business Insights
Point Roberts WA, Delta BC, January 7, 2020 – Investorideas.com, a global news source and leading investor resource covering cleantech and renewable energy stocks issues today’s edition of the Cleantech and Climate Change Podcast, talking about today's problems and solutions for the future.
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Read this in full at https://www.investorideas.com/news/2020/cleantech-climatechange/01071BLDP-FCEL-PLUG.asp
Note all stock prices referenced were at the close of January 6, 2020.
Transcript/overview
Today we are looking at Hydrogen and Fuel Cell Stocks (NASDAQ: BLDP) (TSX: BLDP), (NASDAQ: FCEL) (NASDAQ: PLUG)
Ballard Power Systems (NASDAQ: BLDP) ( TSX: BLDP) had no news out but the stock closed at $8.30+0.49 (+6.27%) on over 3 million shares.
Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, announced it had received an order at the close of 2019 from a Fortune 100 customer for hydrogen fuel cell deployments across their distribution network over the next two years. This contract, valued at more than $172 million, is for Plug Power's GenDrive fuel cell power, GenFuel hydrogen fuel, storage and dispensing infrastructure, and GenCare aftermarket service and support.
The global total available market for material handling is currently valued at $30 billion. Plug Power's turnkey hydrogen and fuel cell solutions are attractive in high utilization environments, where they have a distinct advantage as compared to batteries. Hydrogen fuel cells are adopted to increase productivity, lower operational costs and reduce greenhouse gas emissions. Plug Power customers have reported a 15% productivity increase, and savings per year greater than $1 million in sites with approximately 200 forklift trucks.
The stock closed at $3.8200+0.5900 (+18.27%) on over 38 million shares.
FuelCell Energy, Inc. (NASDAQ: FCEL) a global leader in delivering clean, innovative and affordable fuel cell solutions provided an update on the development and successful launch of production stack modules with extended life. As previously reported, the company transitioned production from its five-year stack design to its seven-year stack design in the fourth quarter of fiscal year 2018. This transition followed an innovation effort focusing on improving the stability of the core cell components as well as improving overall stack and stack module designs. The seven year carbonate fuel cell stack life improvement was achieved with less than 5% increase in the cost of the stack module.
The stocks closed at $2.2200+0.1600 (+7.77%) on over 34 million shares with a day’s high of $2.35.
Highlights included:
Production shifted from 5-year to 7-year life stack design in 2018, and subsequent fleet performance is meeting expectations for the new design
Early prototype stacks with two-years of operation and production stacks with more than one year of operation are trending according to seven-year life expectations
40% increase in kWh output expected from each stack before module refurbishment
40% decrease in effective cost expected per kWh output from longer-lived stacks, significantly reducing operating costs
Leading the industry in stack life among high temperature fuel cell suppliers
Looking at the sector, according to a recent report from Fortune Business Insights; “The Automotive Fuel Cell Market will reach USD 17.24 Billion by 2026, Better Fuel Efficiency Properties of Vehicles will Help Boost the Market.”
The report goes on to say, ”Key factors promoting the Automotive Fuel Cell Market growth include better fuel efficiency, a decline in fossil fuel dependency, quick refilling, no greenhouse gas emission in the atmosphere. Besides this, the rise in demand for incorporating alternative fuel cells in automobiles for keeping a check on the environment is likely to help attract high Automotive Fuel Cell Market revenue in the forthcoming years. Various countries are adopting the implementation of new policies for promoting hydrogen-based automotive vehicles and this is further anticipated to increase the market shares in the coming years.”
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Thanks, that’s it for today. Do something good for this beautiful planet each and every day.
Podcast host: Dawn Van Zant
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