New Energies, new possibilities

https://fuelcellsworks.com/news/improving-manufacturing-processes-to-reduce-hydrogen-production-costs/

Hyundai Motor entered a separate MOU with China Iron and Steel Research Institute Group and Hebei Iron and Steel Group to encourage popularization of a hydrogen mobilities in Jing-Jin-Ji region

Hyundai Motor Company is spearheading development of a hydrogen society and fuel cell commercial vehicle ecosystem in China with regional partners.

Hyundai Motor announced today that it has signed an MOU with Shanghai Electric Power Co., Ltd., Shanghai Sunwise New Energy System Co., Ltd., and Shanghai Ronghe Electric Technology Financial Leasing Co., Ltd., with an aim of establishing a hydrogen mobility ecosystem around Shanghai and Yangtze River Delta area.

The company also signed a separate MOU with China Iron and Steel Research Institute Group (CISRI) and Hebei Iron and Steel Group (HBIS Group) for an equivalent aim in Jing-Jin-Ji area as it introduced Hyundai XCIENT Fuel Cell heavy-duty truck for the first time in China at the 2020 China International Import Expo (CIIE).

“Hyundai believe China has a massive potential for hydrogen powered commercial vehicle,” said In Cheol Lee, Executive Vice President and Head of Commercial Vehicle Division at Hyundai Motor. “The company is committed to becoming a FCEV solution provider by creating a business cluster across the entire hydrogen ecosystem in China.”

The MOU among Hyundai, Shanghai Electric Power, Shanghai Sunwise New Energy System and Shanghai Ronghe Electric Technology Financial Leasing will form a cooperative system that connects production of hydrogen, construction of refueling stations and financing of fleet operations based on supply of Hyundai’s fuel cell electric commercial vehicles in the Yangtze River Delta area. In addition, it plans to promote a pilot operation business of fuel cell electric vehicles.

Shanghai Electric Power will lead investments in constructing hydrogen refueling stations and an electrolytic hydrogen production process using renewable energy as well as propelling a hydrogen production project through Integrated Gasification Combined Cycle (IGCC).

Shanghai Sunwise will build and operate hydrogen refueling stations and provide comprehensive solutions for hydrogen refueling, while Shanghai Ronghe Electric Technology Financial Leasing will provide financial support services for the fuel cell electric commercial vehicle pilot operations.

Hyundai Motor will supply its fuel cell electric commercial vehicles to major logistics companies in the Yangtze River Delta area where the company is going to establish and manage a fuel cell electric commercial vehicle operating company.

Through the MOU, the four parties aim to construct a cost-competitive and highly efficient business model drawing on each company’s respective expertise, supplying more than 3,000 fuel cell electric trucks in the Yangtze River Delta area by 2025.

Another MOU with China Iron and Steel Research Institute Group and Hebei Iron and Steel Group is aiming to build a cooperative system for hydrogen mobility in the Jing-Jin-Ji cluster. As a home to the country’s major steelmakers, the cluster boasts a stable and abundant supply of by-product hydrogen. It also has high demand of heavy-duty trucks due to heavy freight volume in the region.

Tangshan city government in the Jing-Jin-Ji area is pushing ahead with a plan to construct a hydrogen industry cluster facilitating development of fuel cell electric vehicles, especially heavy-duty trucks, logistics and urban maintenance vehicles. The government also is building infrastructure for supplying low-cost, high efficiency by-product hydrogen.

Through this MOU, the CISRI is responsible for providing technology related to hydrogen storage, transportation and refueling as well as support for the construction of hydrogen refueling stations. HBIS Group will supply hydrogen using by-product resources and identify sources for fuel cell commercial vehicle demand while Hyundai Motor will develop and distribute hydrogen electric trucks suitable for the needs of the local market in cooperation with a local commercial vehicle subsidiary.

The three parties will undertake a trial run project of fuel cell commercial trucks in the Jing-Jin-Ji area with the aim of supplying 1,000 fuel cell commercial trucks by 2025.

Hyundai is cooperating closely with its Chinese partners in line with the Chinese government’s fuel cell roadmap, which aims to have 1 million fuel cell electric vehicles by 2030. Hyundai’s goal is to supply over 27,000 FCEV units in China by 2030 as the company plans to further strengthen its position as a leading global FCEV technology brand through this multilateral cooperation in China.

Hyundai Motor last month successfully handed over the first seven units of its XCIENT Fuel Cell, the world’s first mass-produced fuel cell electric heavy-duty truck, to customers in Switzerland, with a total of 50 hitting the roads there this year. The delivery of XCIENT Fuel Cell marks the official entry of Hyundai’s commercial vehicles in the European market, a touchstone for the company’s expansion into the North American and Chinese commercial markets.

What happened 

Shares of hydrogen fuel cell company Bloom Energy (NYSE:BE) fell 29.7% in October, according to data from S&P Global Market Intelligence, as earnings were released. And this is just the latest volatile month for this renewable energy stock. 

So what 

A big reason for part of the drop was just that Bloom Energy's stock has skyrocketed since March. Shares are up 96% so far this year and nearly 400% from its March low, so it's still been an outstanding year for this renewable energy stock. 

Image source: Bloom Energy.

The two notable news items were paying off $249 million worth of 10% convertible promissory notes due 2021 and calling the outstanding $79 million on its 10% senior secured notes due 2024. This follows selling $230 million of 2.5% green convertible senior notes due 2025. 

Bloom Energy also released earnings for the third quarter of 2020, showing $200.3 million of revenue and a loss of $12.0 million. On the positive side, the operating margin improved from 2.7% a year ago to 7.7%, and adjusted EBITDA was $27.7 million.

Now what 

As bad as the stock performed last month, the operating news was fairly positive. Debt was refinanced at a much lower rate and Bloom Energy is EBITDA positive and slowly improving the bottom line. I chalk last month's move up to volatility for renewable energy stocks and see this as a buying opportunity for investors. 

https://www.fool.com/investing/2020/11/08/why-bloom-energys-shares-plunged-297-in-october/

Both Class 8 trucks ascended the famed road without any harmful tailpipe emissions, being the first of their kind to do so.

The hillclimb route up to Pikes Peak in Colorado is renowned as one of the most grueling and challenging of its kind, through its mix of length, altitude and myriad of treacherous high-speed turns. You’d not expect it to be used to promote alternatively powered Class 8 trucks, but that’s exactly what PACCAR did with models from its Peterbilt and Kenworth brands.

According to Kyle Quinn, PACCAR chief technology officer, they

‘ Are very excited about the work Kenworth and Peterbilt have done in the development of zero emissions technology. Conquering Pikes Peak demonstrates PACCAR’s leadership in fuel cell and commercial vehicle electrification. ‘

The trucks that did it are Peterbilt Model 579EV battery electric truck and the Kenworth T680 fuel cell electric truck are apparently the first Class 8 zero emissions vehicles to be driven all the way up to the 14,115-foot (4,302-meter) peak.

With up to 670 horsepower and 150 miles (241  km) of range from its thermally-controlled lithium iron phosphate battery pack, the Model 579EV is an electric truck that is already seeing active service. There are apparently already 22 units on the road right now.

Jason Skoog, Peterbilt general manager and PACCAR vice president, explained that

‘ Taking the Peterbilt Model 579EV to the summit of ‘America’s Mountain’ is an important milestone for Peterbilt and our entire lineup of battery electric commercial vehicles. Being the first battery electric Class 8 truck to climb to the top of Pikes Peak is further validation of all the real-world miles Peterbilt has accumulated across our entire EV test fleet and demonstrates we are ready to deliver production vehicles to our customers next year. ‘

(Bloomberg) -- China’s push for more fuel-cell vehicles is inspiring startup Anhui Mingtian Hydrogen Energy Technology Co. to step up its growth, with the technology provider working on fresh fundraising en route toward an initial share sale.

Mingtian is talking to investors and plans to raise about 200 million yuan ($30 million) at a valuation of as much as 2 billion yuan by the end of the first half next year, Chairman Wang Chaoyun said in an interview in Beijing. The company wants an initial public offering on Shanghai’s Star Board in three years, he said.

While there are few hydrogen cars on China’s roads, the government unveiled the first national policy this year that’s aimed at boosting demand for the environmentally friendly vehicles. Annual sales of fuel-cell vehicles in China are set to rise by 10 times in five years to 50,000 units before hitting half a million by 2035, Wang estimated.

“The government polices are like a blessing” for the industry, Wang said. “The market is heating up.”

China has been providing subsidies to buyers of fuel-cell vehicles since 2009, but demand has been low. As of July, there were only about 7,200 fuel-cell automobiles in use and 80 hydrogen charging stations in the country. That compares with millions of battery-electric cars, seen as an alternative to hydrogen vehicles.In September, the government announced new steps to accelerate the fuel-cell segment’s growth. Among the measures, it said it is introducing rewards to cities that carry out hydrogen-vehicle pilots.

Mingtian, which means bright sky in Chinese, develops fuel-cell stacks and other inner workings for hydrogen vehicles. The company expects to have its stacks installed in 2,000 vehicles in 2022 and about 10,000 vehicles in 2025, Wang said.