Hydrogen: 1 project and 2 good news about the Clean Logistics share and the Plug Power share

Hydrogen: 1 project and 2 good news about the Clean Logistics share and the Plug Power share

Green hydrogen can only be produced where large amounts of renewable energy are available. That is why many current projects are located in the vicinity of offshore wind farms. The Netherlands is a good example of this.

ScottishPower plans hydrogen project

But there are also many offshore wind farms and corresponding hydrogen production plants in the ports in Great Britain. The Iberdrola (WKN: A0M46B) subsidiary ScottishPower is now planning to build a 100-megawatt plant in the port of Felixstowe. After completion, it will produce up to 40 tons of green hydrogen per day, which could supply 1,300 hydrogen trucks.

Operation can later be expanded to several hundred megawatts and is intended to make industry, transport and the port as emission-free as possible. But ScottishPower is also exploring export opportunities and the production of green ammonia and methanol.

Clean logistics with a mega order

So far, many investors have not had the Clean Logistics (WKN: A1YDAZ) share on their list. This is now likely to change. Shortly after presenting its fuel cell truck, the company received a major order. The GP Joule Group has signed a framework agreement with Clean Logistics to purchase 5,000 hydrogen trucks.

The total contract volume is in the lower single-digit billion euro range. Clean Logistics will deliver the vehicles between 2023 and 2027.

So far, Clean Logistics has converted combustion trucks to hydrogen drives. In the future, the company will also produce new fuel cell trucks. With the takeover of the Dutch truck manufacturer GINAF, Clean Logistics sees itself in an excellent position to significantly ramp up the independent production of trucks and buses with emission-free hydrogen drives within the group of companies.

Through the takeover of GINAF, Clean Logistics now has a group company with the status of an independent producer with the corresponding approval requirements for its own vehicles in Europe.

Plug Power benefits twice over

The American hydrogen company Plug Power (WKN: A1JA81) will benefit from the US climate agreement worth billions. In addition, the company recently received another order.

For example, New Fortress Energy (NASDAQ:PLNG) selected Plug Power as its partner to build a 120-megawatt facility. It will be built near Beaumont (Texas, USA) and will be scalable to up to 500 megawatts. The possible production capacity is up to 50 tons of green hydrogen per day. Local industry and heavy goods traffic are possible buyers.

Plug Power supplies the required PEM electrolyser technology and equipment. New Fortress Energy is planning further projects so that Plug Power can count on follow-up orders.

“We are excited about this agreement, which marks the beginning of our collaboration with Plug, a leader in electrolysis technology that shares our vision of hydrogen’s role in accelerating a clean and safe energy transition around the world,” according to New Fortress Energy CEO Wes Edens.