A new poll reveals that Canadians are increasingly supportive of sustainable shipping practices. They are willing to pay a premium for imported goods with reduced carbon emissions and favor the use of domestically produced hydrogen to decarbonize the industry. This demonstrates a growing public awareness and commitment to reducing the environmental impact of shipping.
Jordi Zonneveld, a former oil and gas engineer, felt compelled to shift his career toward a cleaner future. Driven by his desire for his children to inherit a healthier planet, he led Frames Group, his former employer, towards a hydrogen-focused business model, ultimately leading to its acquisition by Plug Power. This move exemplifies the growing shift towards sustainable energy solutions, particularly in the face of the climate crisis.
Truist Securities initiated coverage on GE Vernova (GEV) with a Buy rating and a price target of $300, citing the company’s strong position in the energy transition. Analyst Jordan Levy expects GEV to benefit from increasing demand for electrification and hydrogen technologies, leading to significant growth and margin expansion.
CRRC Corporation Limited, a global energy technology leader, is showcasing its comprehensive wind-solar-hydrogen-storage integration solutions at WindEnergy Hamburg. The company’s exhibit highlights its complete industry chain for wind power equipment, including wind turbines, generators, blades, and more. CRRC also showcases its advanced PV inverters and flexible green power-to-hydrogen system, emphasizing its commitment to a sustainable energy future.
Plug Power, a hydrogen solutions provider, has launched an equipment lease financing platform designed to unlock capital from its assets and drive sales growth. The platform has already secured $44 million in deals with GTL Leasing, demonstrating its potential to fuel Plug Power’s expansion in the green hydrogen sector.
HNO International (HNOI) has signed an offtake agreement to supply hydrogen generated from its SHEP platform to a Texas-based leader in zero-emission transportation. This partnership will see HNOI’s clean hydrogen fuel Class 8 fuel cell electric vehicles (FCEVs), marking a significant step towards cleaner transportation in the trucking industry.
The global clean hydrogen project pipeline is growing rapidly, with a significant increase in projects reaching final investment decision (FID). However, the pace and scale of deployment need to accelerate dramatically to meet global climate goals. The Hydrogen Insights 2024 report, co-authored by McKinsey & Company, reveals that despite the progress, the hydrogen sector faces macroeconomic headwinds and sector-specific challenges.
Ballard Power Systems, a leading fuel cell technology company, announced a global restructuring plan to reduce costs and adapt to the slower-than-expected adoption of hydrogen fuel cells. The company cited a delayed market for low-cost hydrogen and refueling infrastructure as the primary reason for the restructuring, which includes workforce reductions, product development program rationalization, and operational consolidation. While acknowledging the challenges, Ballard remains confident in the long-term potential of hydrogen fuel cells and will continue focusing on developing next-generation, cost-effective products for heavy mobility and stationary power applications.
The University of Tulsa is partnering with Sagebrush, LLC to research the effectiveness of blending hydrogen into natural gas pipelines. This project aims to reduce carbon emissions by replacing methane with hydrogen, which burns without producing carbon dioxide. The university’s unique facilities and expertise allow for rapid testing and results, providing valuable insights to industry partners.
ExxonMobil has partnered with Abu Dhabi National Oil Company (ADNOC) to build a world-scale low-carbon hydrogen and ammonia production facility in Baytown, Texas. This project, expected to be operational in 2029, will produce enough hydrogen to power millions of homes and signifies ExxonMobil’s commitment to reducing emissions and meeting the growing demand for low-carbon fuels.
