New Energies, new possibilities

YOKOHAMA, Japan, July 31, 2020 – (JCN Newswire) – Mitsubishi Hitachi Power Systems, Ltd. (MHPS), a part of Mitsubishi Heavy Industries (MHI) Group, announced on April 24, 2020, that it will change its name to “Mitsubishi Power, Ltd.” in conjunction with the transfer of shares in MHPS held by Hitachi, Ltd. to MHI. The date of the company name change, which was not fixed at that time, is on the schedule below.

Since its founding, MHPS has steadily improved its strength in three core areas: technology, comprehensive engineering, and after-sales servicing so as to respond to the needs of customers and society. The Company also continues to successfully achieve global business expansion. In this way, the Company is able to provide products of superlative quality and reliability, deliver projects around the world, and consistently meet user needs.

Under its new name, Mitsubishi Power, as one of the core subsidiaries of MHI Group, offers cutting-edge technologies and energy solutions for the power industry, supporting affordable and reliable power supplies in regions throughout the world. Further, by providing world-leading technologies, Mitsubishi Power is a key participant in creating a decarbonized, sustainable economy, helping to solve the challenges facing our global society.

Date of the Change of Company Name: September 1, 2020

Group Companies: The names of some Group companies in China and India, which had not been determined previously, have been decided as shown in the attachment.

See MHPS’ Group Companies Name: https://www.mhps.com/news/pdf/20200731.pdf

About Mitsubishi Hitachi Power Systems, Ltd.
Mitsubishi Hitachi Power Systems, Ltd. (MHPS), headquartered in Yokohama, Japan, is a joint venture formed in February 2014 by Mitsubishi Heavy Industries, Ltd. and Hitachi, Ltd. integrating their operations in thermal power generation systems and other related businesses. MHPS today ranks among the world’s leading suppliers of equipment and services to the power generation market, backed by 100 billion yen in capital and approximately 20,000 employees worldwide. The Company’s products include GTCC (gas turbine combined-cycle) and IGCC (integrated coal gasification combined-cycle) power plants, gas/coal/oil-fired (steam) power plants, boilers, generators, gas and steam turbines, geothermal power plants, AQCS (air quality control systems), power plant peripheral equipment, digital solutions and solid-oxide fuel cells (SOFC).

For more information, please visit www.mhps.com.

https://www.powermag.com/press-releases/mhps-to-change-company-name-to-mitsubishi-power/

Shanghai (Gasgoo)- On July 28, GAC Group offered the first glimpse of its first hydrogen fuel cell vehicle model, the Aion LX Fuel Cell, at the GAC Tech Day 2020.

Built on the GEP (GAC Electric Platform) 2.0, the newly-unveiled fuel cell vehicle shares a similar look to that of the Aion LX. With respect to its powertrain solution, the FCV gets a maximum output of over 150kW through the combined effort of the fuel cell system and the power battery system. The permanent magnet motor it adopts is able to deliver a peak torque of 350 N·m. Filled up with hydrogen, the vehicle will have a NEDC-rated range of over 650km.

(Aion LX Fuel Cell)

According to Feng Xingya, president of GAC Group, the automaker will kick off this year the pilot operation of its hydrogen vehicles.

Meanwhile, GAC Group also introduced the GPMA (GAC global platform modular architecture) and the GEP platforms, which respectively take aim at traditional fuel-burning and pure electric vehicles. The GPMA fits the development of sedan, SUV, MPV, PHEV and HEV models and is compatible with powertrains like conventional engines, PHEV and HEV power systems.

The BEV-focused GEP 2.0 uses the high-energy-density cells, the highly integrated module-free architecture and the high-precision BMS to create a battery system with high range and low electricity consumption, said GAC Group. Besides, the high-voltage platform and high-power charging technology are applied to solve consumer's pain point over charging issue.

GAC Group also showcased 3D structural graphene (3DG) production technology at the Tech Day. The company noted that it started researching the scale production of graphene as early as 2014, and has to-day obtained the 3DG manufacturing technology with independent intellectual property rights.

By virtue of graphene's outstanding electric conductivity and the special 3D structure, GAC has developed a super-fast-charging battery which can be charged to 80% of its capacity within 8 minutes and achieve 200-300km range on a 10-minute charge, said the company (photo source: GAC Group's WeChat account).

autonews.gasgoo.com/china_news/70017386.html

Ceres Power PLC (LON:CWR) can be worth five times its current value if full advantage is taken of the opportunities now opening up says broker Berenberg - a huge fan of the fuel cell specialist.

Investor interest in the hydrogen and fuel cell sector has moved beyond how the technology works, adds the broker and is now focused on competitive dynamics, market opportunities and electrolysis.

In this scenario, Ceres offers one of the best opportunities for equity investors, argues Berenberg.

The AIM-listed group has leading solid-oxide fuel cell (SOFC) technology, a roster of global OEM partners and numerous upcoming near-term catalysts, it adds.

Berenberg has analysed the market and believes as industries seek to decarbonise and electrification needs increase, several winners will emerge with Ceres at the forefront of SOFC adoption.

SOFCs have a huge opportunity given their higher operating efficiency and ability to better address markets such as steel, where alternatives such as proton exchange membrane (PEM) and alkaline versions are less suited.

In numerous business segments, Ceres screens very favourably, Berenberg says, particularly in stationary power applications and based just on existing partnerships it estimates an addressable market of 500GW.

In revenue terms, that amounts to a more than £950mln a year opportunity or 32 times this year’s forecast.

New areas such as rail, shipping and electrolysis are all sources of additional potential upside, adds the broker.

On a modestly favourable penetration rate of SteelCell in the stationary power market, Berenberg gets to a price target of 580p, but full penetration moves the number to 2,000p or 400% upside.

'Buy' is its investment view

Shares rose 5% to 451p

https://www.proactiveinvestors.co.uk/LON:CWR/Ceres-Power-Holdings-PLC/

Who is this rival?

Hyundai is done watching Tesla dominate the battery electric vehicle market. Although the South Korean automaker already sells the popular Hyundai Kona EV, and there are more EVs in development, Hyundai knows that more investment in EVs is required. Several years ago, Hyundai was one of the first major automakers to work on hydrogen cars, but the situation has now changed. It's not that hydrogen fuel cell vehicles won't gain in popularity, but battery electrics are the dominant propulsion system right now and for the foreseeable future. Also, Hyundai doesn't like seeing shiny new Teslas driving around its home country.

Reuters reports Hyundai has a new plan to introduce not one but two production lines dedicated solely to EVs. The first one is scheduled to begin operations next year while the other will go online in 2024.

Hyundai Motor Company, which includes its namesake Hyundai division along with Kia and Genesis, has also been reportedly holding talks with fellow South Korean companies Samsung, LG, and SK Group, all of whom design and manufacturer batteries. These battery supplier discussions are critical because Hyundai needs to quickly secure enough batteries as the EV battle enters a new phase. There's simply not enough batteries at the moment and automakers are competing to sign battery supplier contracts. What Hyundai aims to do is work directly with those fellow domestic battery suppliers "to scale up" is electric vehicle production more efficiently.

Earlier this month, Hyundai executive chairman Euisun Chung announced a goal of selling 1 million battery EVs a year by 2025. It also hopes to achieve a global market share of more than 10 percent that year.

A lot needs to happen between now and then to achieve that. For example, Hyundai sold 86,434 battery EVs last year. Tesla sold 367,500 that year. But why has it taken this long for Hyundai to take Tesla seriously? One reason: the Tesla Model 3. Up until its 2017 launch, Tesla only built expensive luxury vehicles, but the Model 3 has now become the world's best-selling EV in history.

And now it's becoming even more popular in Hyundai's home turf, South Korea. "Hyundai did not expect Tesla to dominate the EV market so quickly," one person familiar with the company's thinking said.

https://carbuzz.com/news/teslas-next-major-rival-announces-big-plans