Jack_Bolander
3 시간 전
Here is an Interesting Read.
MORE BAD NEWS :
WTM - Here is a Letter from a Hydrogen Industry Thought Leader :
Dear all,
I was in Paris for three days to attend an international workshop on de-risking hydrogen projects and HyVolution. Here's my summary:
The workshop was coordinated by Mikaa Blugeon-Mered, and there were some 45 high-level experts from all continents. And me. I was the VUP in the room. I usually don't attend policy and finance workshops, because that's just none of my business. I am a technology guy, and I let others figure out how to deal with currency risks, political risks in developing countries and certification schemes. But this workshop was extremely interesting, and I learned a lot.
We'll do a webinar about the outcome in the near future (to be announced). [If you don't know what a VUP is: a Very Unimportant Person. ]
It was my first time at HyVolution. The mood was rather depressed. Of course, some of the usual suspects were still telling me that they are optimistic, but after a while they started talking about "restructuring" (which is code for "laying off people"), "management pressure" (which is code for "we don't sell enough"), "overcapacity" (which is code for "we have built a factory but don't know what to do with it because the market does not ramp up as expected") and so on.
Not good.
I am still wondering who can supply a 10 MW electrolyzer that I can simply plug in without issues. Some people don't even answer the phone (because 10 MW are too small), and some people only have small systems and I fear I would be their guinea pig again. There's not much in between. Interesting, isn't it?
The most interesting statement - that I can fully confirm - came from a guy that was in Australia recently. He said "When Australians wake up in the morning, they start talking about 5 GW projects or even more immediately. Nothing smaller. Then we went to see the largest electrolyzer in the southern hemisphere. It has 2.5 MW."
And that, my friends, is the truth: On PowerPoint, you can design hundreds of Gigawatts easily. But you have to deploy them as well. And from experience I can tell you that it's not easy. You need the right suppliers, you need trained and experienced people, and you need experience yourself. Real life experience, not experience from social media and studies. So you have to be willing to invest money - a lot of money - into that ramp-up. And if this does not happen, the suppliers will be gone, and the dream will remain a dream.
Long story short: the global, political and financial side is still bullish on hydrogen. Many people who have to get things done, sell sensors, valves and systems are in the "trough of disillusionment." Let's see where we are at the end of 2025.
In the meantime, we’ll continue our webinar series, and I hope you have registered for the next ones. If not: www.mission-hydrogen.com.
David
delerious1
3 일 전
Plug Power Boosts Liquidity with $30 Million Federal Investment Tax Credit Transfer
SLINGERLANDS, N.Y., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, boosted its liquidity by approximately $30 million through the transfer of the Federal Investment Tax Credit (ITC) on January 24, 2025, to a major investor with a strong track record of purchasing comparable credits. The $30 million ITC transfer represents Plug's first use of the transferability rules under the Inflation Reduction Act (IRA) of 2022 and is among one of the first transfer deals for hydrogen storage and liquefaction assets.
Under the IRA, facilities like Plug’s plant in Woodbine, Georgia that produce, liquify, and store green hydrogen can claim the Section 45V Production Tax Credit (PTC) for green hydrogen produced as well as the ITC on the hydrogen storage and liquefaction assets at the facility. Plug secured the ITC through its investment in liquefaction and storage technologies at its green hydrogen plant in Woodbine, Georgia, which began production in early 2024. This development builds on Plug’s announcement in June 2024 of utilizing the PTC at its Woodbine, Georgia facility — allowing the company to benefit from both the PTC and ITC.
The IRA introduced new tax credits for hydrogen storage and liquefaction assets, as well as provisions for transferring certain previously non-transferable tax credits. These changes enable businesses to better monetize their tax credits and simplify financing processes.
“Plug is leveraging tax credit transferability to offset a portion of our investment in our hydrogen plants, which will provide liquidity and reduce future fuel costs,” explained Plug CFO Paul Middleton. “This transaction represents a key non-dilutive balance sheet leverage opportunity and sets the stage for future ITC monetization opportunities as we continue build out our green hydrogen ecosystem.”
"We’re excited to have launched the largest liquid green hydrogen facility in the U.S. and to start leveraging these benefits put in place to advance the industry,” said Plug CEO Andy Marsh. “Tax credits like these propel us towards green hydrogen expansion, energy independence, and significant job growth — shared goals with Plug, the industry, and the U.S. government. We look forward to continuing our collaboration with policymakers to drive innovation and progress in the energy transition."
This transaction highlights Plug's strategic use of the new tax credit transferability provisions under the IRA and highlights the IRA’s role in fostering clean energy investments.
About Plug
Plug is building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation, to help its customers meet their business goals and decarbonize the economy. In creating the first commercially viable market for hydrogen fuel cell technology, the Company has deployed more than 69,000 fuel cell systems and over 250 fueling stations, more than anyone else in the world, and is the largest buyer of liquid hydrogen.
With plans to operate a green hydrogen highway across North America and Europe, Plug built a state-of-the-art Gigafactory to produce electrolyzers and fuel cells and is developing multiple green hydrogen production plants for commercial operation. Plug delivers its green hydrogen solutions directly to its customers and through joint venture partners into multiple environments, including material handling, e-mobility, power generation, and industrial applications.
slicknick617
1 주 전
Energy Sec. C. Wright on Nuclear
In his testimony before the Senate Energy and Natural Resources Committee, Wright expressed support for a range of energy technologies, saying during an exchange with Sen. Angus King, I-Maine, "I am for improving all energy technologies that can better human lives and reduce emissions. They go together."
He particularly emphasized the roles of commercial nuclear energy, liquefied natural gas and geothermal energy in his envisioned expansion of domestic energy production.
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BottomBounce
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