WeTheMarket
3 weeks ago
Biden administration rolls out strongest pollution standards for heavy-duty trucks and buses
March 29, 2024
https://edition.cnn.com/2024/03/29/climate/biden-administration-rule-heavy-duty-trucks-buses/index.html
One week after rolling out the country’s strongest-ever federal tailpipe standards for the cars most Americans drive, the Biden administration is doing the same with the biggest, most polluting vehicles on the roads: buses, commercial vans and freight trucks.
The new rules for heavy-duty vehicles bear many similarities to their counterparts for smaller cars and trucks and will push the industry toward zero-emission technology. The Environmental Protection Agency estimates the changes will cut 1 billion tons of planet-warming pollution by 2055.
“I’m so proud to announce that EPA is finalizing the strongest national greenhouse gas standards for heavy-duty vehicles in history,” Environmental Protection Agency administrator Michael Regan told reporters.
The rule is technology-neutral, meaning vehicle manufacturers can meet the standards how they choose: advanced internal combustion engine vehicles, hybrid vehicles, plug-in hybrid electric vehicles, battery electric vehicles and hydrogen fuel cell vehicles.
However, the rule won’t necessarily mean there will be many more electric heavy-duty trucks on the roads in the coming years. By the early 2030s, EPA modeling predicts between 12-25% of the biggest freight trucks on the road will be zero-emissions vehicles. For smaller classes, like beverage or dump trucks, it could be closer to 40%.
Like its light-duty counterpart, the new standards will be phased in gradually, giving vehicle manufacturers flexibility and allowing more time for clean fuel infrastructure to get up and running. The standards will ramp up more stringently after 2030.
While the light-duty cars and trucks that most Americans drive are the biggest contributors to transportation pollution, medium and heavy-duty trucks play an outsized role: They represent about 5% of the overall vehicle fleet, but contribute about 20% of total transportation climate pollution, according to White House national climate adviser Ali Zaidi.
Still, moving big trucks to cleaner fuels isn’t as easy as buying an EV. These vehicles – especially long-haul freight trucks – need to travel long distances and be able to carry heavy loads. Hydrogen fuel cell trucks are better for those reasons, but the technology is still relatively nascent compared to battery-electric models.
“We are making deep cuts to emissions from our nation’s transportation sector investing billions of dollars to replace older vehicles and engines with cleaner alternatives and creating thousands of good paying American jobs in the process,” Regan said.
Another issue is cost, as many cleaner vehicles are more expensive than diesel vehicles.
Biden administration strengthens Endangered Species Act protections weakened under Trump
The trucking industry has been split on the new rules. Some manufacturers like Ford and Cummins are supportive of the EPA’s timeline. But several industry groups, including one representing small business truckers, have voiced concerns about meeting the regulatory timeline.
“We are concerned that the final rule will end up being the most challenging, costly and potentially disruptive heavy-duty emissions rule in history,” said Jed Mandel, president of the Truck and Engine Manufacturers Association. To be successful in the transition, “all parties need to be better aligned on the realistic timing for delivering the products and infrastructures critical to achieving the successful outcome we all want.”
White House national climate adviser Ali Zaidi pointed to tax credits that can be used to defray the cost of buying clean commercial vehicles. The Biden administration has also made clean buses a major priority, replacing diesel school buses all over the country and awarding federal funding for some municipalities to replace their public buses, too.
Officials and environmental groups said the rule is major step forward for public health and environmental justice in communities near major trucking corridors.
“Today’s announcement is a big one in terms of cleaning up the pollution from these vehicles on our roads and highways and importantly, the pollution that impacts our communities and our kids,” Zaidi said.
WeTheMarket
3 weeks ago
US to unveil final plans for $1bn subsidy scheme for clean hydrogen users by end of September
A Contracts for Difference-style scheme is being considered, controversial programme leader Ernest Moniz tells conference
21 March 2024
https://www.hydrogeninsight.com/policy/us-to-unveil-final-plans-for-1bn-subsidy-scheme-for-clean-hydrogen-users-by-end-of-september/2-1-1616309
A US government plan for $1bn of subsidies for clean hydrogen users will be finalized by the end of September, the programme leader told the CERAWeek energy conference in Houston this week.
Ernest Moniz, a controversial figure who was US energy secretary under President Barack Obama, was appointed by the Department of Energy in January to lead a consortium tasked with designing and implementing “demand-side support mechanisms for unlocking the market potential” of the seven Regional Clean Hydrogen Hubs.
In other words, to ensure that the clean H2 produced at these hubs — which are backed with $7bn of government grants — is actually sold.
“We want the supply and delivery infrastructure and demand to work together in a way that builds markets, gets costs down, and ultimately allows the market to run with the hydrogen economy towards a low-carbon future,” Moniz told delegates on Tuesday.
The consortium, known as the Hydrogen Demand Initiative (H2DI) is currently considering the best ways to use the $1bn of funding, he said.
One potential model under consideration, Moniz continued, was a Contracts for Difference-style scheme — which could pay users the difference in cost between grey and clean hydrogen — although he did add that it might “not be the right match here”.
Moniz is a controversial figure for several reasons. He has been accused of accepting Big Oil funding while in charge of the MIT Energy Initiative and consequently producing dubious studies that backed climate inaction and fossil-fuel initiatives such as carbon capture and fracking, while ignoring warnings on methane emissions while in government.
His appearance in the 2022 BBC documentary, Big Oil v the World, which covered the fossil-fuel industry's climate denial campaigns of the 2000s and 2010s, implicated Moniz as part of the conspiracy, particularly when he refused to answer questions on the matter.
The H2DI consortium is led by Moniz’s EFI Foundation, and includes market intelligence firm S&P (which, incidentally, runs the CERAWeek conference), financial exchange operator Intercontinental Exchange, the MIT Energy Initiative and law firm Dentons.
WeTheMarket
3 weeks ago
China's largest green hydrogen refuelling station is selling H2 at a seventh of the cost of the fuel in California
Sany claims its integrated production and fuelling complex supplies hydrogen at cost parity with diesel
15 March 2024
https://www.hydrogeninsight.com/transport/chinas-largest-green-hydrogen-refuelling-station-is-selling-h2-at-a-seventh-of-the-cost-of-the-fuel-in-california/2-1-1613409
The largest integrated green hydrogen production and refuelling complex in China is able to supply hydrogen at 35 yuan per kilo ($4.86/kg), near cost parity with diesel, according to reporting by the Chinese newspaper Hunan Daily.
Unlike the vast majority of China's hydrogen refuelling stations, engineering firm Sany’s filling spot in the city of Changsha, Hunan province, which entered into a testing phase this week, produces its own H2 onsite via alkaline electrolysers, thus avoiding transportation costs.
The electrolysers are capable of producing up to 180kg an hour, but the pumps can only dispense two tonnes per day — enough to fill up more than 100 vehicles.
By way of comparison, hydrogen fuel is being sold at the pump elsewhere in China for 75 yuan per kilo — which is still cheaper than in other countries. The largest H2 fuel market in the US, California, is currently seeing pump prices of $36/kg — more than seven times higher than the Changsha facility — while in Germany, Europe's largest market, current per-kg prices are between €12.85 and €15.75 ($14-16.60).
If the price of H2 fuel in China drops below 30 yuan per kilogram, such as via future technology upgrades, “hydrogen fuel vehicles are more competitive than diesel vehicles” even without subsidies, said Wang Zhimin, director of Sany Hydrogen Energy Hydrogenation Equipment Institute.
While hydrogen is often highlighted as a way to decarbonise heavy, long-haul transport, the switch from existing trucks will depend on logistics firms committing to high upfront costs or renting from emerging pay-to-use schemes such as a programme run by Shell in Germany.
However, because diesel is already a relatively expensive fossil fuel, particularly in markets with higher taxes, some green hydrogen investors have suggested that the cost gap is easier to bridge than with cheap natural gas or even grey H2, potentially making it an easier sell for use in road transport than by industrial offtakers.
But others have pointed out that most of the pump price at hydrogen refuelling sites is not based on the price of the H2 molecule, but the capex of the filling station as well as extra costs from compression and maintenance.
While Sany appears to be leveraging economies of scale, the 37-million-yuan station will not be open to the public but rather supply fuel-cell trucks used in company operations — which could limit its utilisation rate.
Similarly, although the engineering firm uses solar panels to power the electrolysers, it is unclear whether the complex has another source of renewable electricity or uses grid power for production during night.
WeTheMarket
3 weeks ago
Green Hydrogen Will Become The 21st Century Version Of Oil
Ken Silverstein, Senior Contributor, I cover global energy and climate issues
Mar 18, 2024
https://www.forbes.com/sites/kensilverstein/2024/03/18/green-hydrogen-will-become-the-21st-century-version-of-oil/
When green hydrogen gets its legs, it will become the ‘new oil’—the energy source that drives the global economy. As such, countries are now preparing and forming international coalitions to position themselves for that future.
The quest to hit net zero by 2050 is generating interest in clean hydrogen, which also has the potential to decarbonize hard-to-abate sectors such as steel, chemicals, and shipping. While technology and clean energy prices are falling, they must decline more to complete this energy transformation.
"We need to reduce emissions and provide clean energy, which will require new investments in the technology and production of green hydrogen," says Fredrik Mowill, chief executive of Hystar, in an interview. "If you need clean energy, then green hydrogen is an important part of that transition. The money flowing in will create new jobs, technologies, and markets, tremendously impacting the entire value chain. We will spend less money on traditional carbon-based fuels, too."
The green hydrogen market will expand from about $1 billion today to $30 billion in 2030, according to MarketsandMarkets. Low renewable energy prices and advancements in electrolysis will drive the growth. However, a lack of transportation and storage infrastructure is a barrier. That’s why countries and companies are partnering to build economies of scale.
The advantages of hydrogen are that it is abundant, renewable, and non-polluting. But it is expensive to make, transport, and store.
Today, coal and natural gas reactions produce almost all hydrogen, referred to as "grey hydrogen," and do nothing to limit CO2 emissions. The goal is to create hydrogen from low-carbon sources, or "green hydrogen."
For example, the United Arab Emirates targets a 25% global market share of low-carbon hydrogen by 2030. It is joining forces with Germany to expand its portfolio. Furthermore, Japan announced a $100 million investment to convert fossil-fired plants into ammonia and hydrogen-based plants. South Korea, meanwhile, has set aside $40 billion to expand its hydrogen infrastructure by 2040—from production tools to fuel cells to filling stations.
"As a result of this energy transition and increased investment in green hydrogen, we are seeing international consortiums in the United States, Australia, and the Middle East," says Mowill. “The challenge is to scale up and meet the demand."
Scale Is The Goal
Consider: Solar panels may create excess power—energy stored in a battery and used in an electrolyzer to make pure hydrogen and produce electricity. The electrolyzer creates an electric current to split the hydrogen and oxygen from water.
To that end, the Norwegian energy conglomerate Equinor is working with Hystar to test electrolyzers associated with offshore wind power. Plug PowerPLUG -5%, and Fortescue Future Industries are partnering to build a gigafactory in Queensland, Australia, to produce those devices. European and Asian companies are deploying Enapter's electrolyzer. Hydrogen Insights 2023 says manufacturers had $8 billion of electrolyzers in the queue through October 2023.
Cost is the obstacle. Scale is the goal. Steel and shipping are among the most complex sectors in which to decarbonize. Enter green ammonia, an interim step for industrial users—a fuel that wind and solar power can produce and that traditional engines or fuel cells can use. Traditionally, industries burn gas to boil water to make steam or coal to heat a boiler, which uses a lot of fuel and creates too many emissions.
DNV GL predicts widespread adoption of ammonia fuel will begin in 2037 — expected to make up 25% of the maritime fuel mix by 2050; shipping comprises 13% of all transportation-related CO2 releases. Samsung Heavy Industries, Lloyd’s Register, and MAN Energy Solutions are developing an ammonia-fuel ship.
Steel is also hard to decarbonize—a $1 trillion industry contributing about 7% of global greenhouse gas emissions. Germany's Uniper focuses on producing hydrogen from green sources, while Salzgitter is a vast steel maker that wants to produce steel using green hydrogen. In this case, Uniper is developing green hydrogen projects to convert green ammonia back to hydrogen.
DNV GL says, "Green hydrogen from electrolysis will be the main long-term solution for decarbonizing hard-to-abate sectors."
Suppose green hydrogen hits its potential: Manufacturers could reduce their production costs and emissions—a win-win in a competitive global economy. That’s the force behind many international partnerships and why green hydrogen may likely become this century’s energy king.
WeTheMarket
4 weeks ago
HYZON ANNOUNCES FOURTH QUARTER 2023 FINANCIAL AND OPERATING RESULTS
MARCH 22, 2024
Link to Press Release https://investors.hyzonfuelcell.com/news/news-details/2024/HYZON-ANNOUNCES-FOURTH-QUARTER-2023-FINANCIAL-AND-OPERATING-RESULTS/
Link to Presentation https://investors.hyzonfuelcell.com/files/doc_financials/2023/q4/Q4-2023-Earnings-Deck_FINAL.pdf
Link to Webcast https://app.webinar.net/3N1AlbDLw9M
Link to Previous (Q3 2023) Results https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173217238
Announces first commercial delivery of fuel cell electric truck in the U.S.
BOLINGBROOK, Ill., March 22, 2024 /PRNewswire/ -- Hyzon (NASDAQ: HYZN) (Hyzon or the Company), a U.S.-based manufacturer and global supplier of high-performance hydrogen fuel cell systems focused on providing zero-emission power to decarbonize the most demanding industries, today announced its fourth quarter 2023 financial and operational results:
Recent Highlights
- Advanced single stack 200kW fuel cell technology from B-sample to C-sample development phase
- Completed first deliveries in the United States, including four fuel cell electric vehicles (FCEVs) to Performance Food Group (PFG) at its Vistar facility in Fontana, California
- Commenced trial deployment of a fuel cell electric waste collection truck with REMONDIS Australia, a global recycling, service, and water company
- Deployed 19 FCEVs in 2023 at the high-end of 15-20 FCEV guidance range, including PFG deliveries and REMONDIS commercial trial vehicle
- Accelerated refuse program in North America through a recently announced Joint Development Agreement with New Way Trucks, the largest private refuse equipment manufacturer in North America
- Unrestricted cash, cash equivalents, and short term investments of $112.3 million as of December 31, 2023, from $137.8 million as of September 30, 2023
"2023 was an inflection point for Hyzon from a commercial and operational standpoint. We deployed 19 vehicles globally, including to both large fleet and drayage customers and our first heavy-duty fuel cell electric truck in the United States. Additionally, we advanced our industry-leading single stack 200kW fuel cell technology from B-sample to C-sample development by completing manufacturing and factory acceptance testing, full design verification, and certain durability testing of 25 200kW fuel cell system B-samples. Operationally, we took steps to drive efficiencies and significantly reduce our monthly cash burn rate while accelerating our leading 200kW fuel cell system technology and FCEV commercialization," said Hyzon Chief Executive Officer (CEO) Parker Meeks.
Fourth Quarter 2023 Business Highlights
Fuel Cell Electric Vehicle Deployments
As of December 31, 2023, Hyzon deployed 19 vehicles under commercial agreements to customers in 2023, towards the upper end of its annual guidance range of 15-20 vehicles. Of those vehicles, five were deployed in the U.S. to both drayage and large fleet customers, three in Europe, and 11 in Australia.
In Q4 2023, as a part of the 19 deployments, the Company also announced the commercial trial deployment of its first fuel cell electric waste collection truck to REMONDIS Australia. The four month trial completed successfully, and Hyzon is working with REMONDIS to transfer ownership of the truck to REMONDIS under the existing commercial agreement.
Commercial Progress
The Company announced sale and delivery of a heavy-duty FCEV in the United States to a U.S. drayage customer operating at the ports of Los Angeles and Long Beach, California, marking Hyzon's entry into the U.S. drayage market in Q4 2023.
Hyzon also delivered four FCEVs to leading food distributor and supplier, PFG, in December 2023. Contingent upon a successful trial with Hyzon's 200kW FCEV, Hyzon and PFG plan to collaborate on an agreement for 15 200kW FCEVs, with an option for an additional 30 FCEVs.
Hyzon entered into a revised commercial agreement with TR Group, New Zealand's largest heavy-duty truck fleet owner, for up to 20 FCEVs upfit with Hyzon's single stack 200kW fuel cell system. Following the initial commercial trial, TR Group has an option to purchase the two trial trucks as well as to upfit another 18 trucks with Hyzon's 200kW fuel cell systems.
Single Stack 200kW Fuel Cell System Advances to C-Sample Development Phase
Hyzon completed its B-sample development phase of the 200kW Fuel Cell System (FCS) in Q4 2023, and advanced to C-sample development phase. In Hyzon's C-sample phase, FCSs are built with production tooling to meet all technical requirements. This step precedes Start of Production (SOP), which is currently on track for the second half of 2024.
The Company develops and builds key components for its 200kW FCSs in-house at its fuel cell production facility in Bolingbrook, Ill., including proprietary electrode formulations and Hyzon's roll-to-roll, Membrane Electrode Assembly manufacturing line. Hyzon has less than $5 million in estimated remaining capital expenditures to reach SOP, with an expected capacity at SOP of 700 200kW fuel cell systems over three shifts.
Newly Appointed Chief Technology Officer
In December 2023, Hyzon announced the appointment of Dr. Christian Mohrdieck as Chief Technology Officer. Mohrdieck joins Hyzon with extensive C-Suite experience, most recently serving as Chief Commercial Officer of cellcentric GmbH & Co. KG, a joint venture between Daimler Truck AG and the Volvo Group AB.
Prior to his role at cellcentric, Mohrdieck was Chief Executive Officer of Mercedes-Benz Fuel Cell GmbH since 2015, before it merged into Daimler Truck Fuel Cell GmbH & Co. KG.
Fourth Quarter 2023 Financial Updates
As of December 31, 2023, unrestricted cash, cash equivalents, and short-term investments were $112.3 million, approximately $25.5 million lower than the September 30, 2023 balance of $137.8 million. Net cash burn of $25.5 million during the quarter represented the lowest quarterly net cash burn over the last nine quarters and the fourth consecutive quarter of declining net cash burn.
"We are pleased with the continued progress we have made on reducing our net cash burn through focused operational efficiencies, cash management, lower legal and professional services expenses, and strategic focus. Our quarterly net cash burn in Q4 came to $25.5 million representing a fourth consecutive quarter of declining burn, showing our continued focus on prudent cash and capital management while driving our technology and commercialization progress forward," said Hyzon Chief Financial Officer Stephen Weiland.
Conference Call Information
The Hyzon management team will host a conference call to discuss its fourth quarter financial results on Friday, March 22, 2024 at 8:30 am Eastern Time.
Participants may access the call at 1-888-800-7840, international callers may use 1-646-307-1856 and enter the access code 5240234. To listen to the live audio webcast and Q&A, visit the Hyzon investor relations website at https://investors.hyzonfuelcell.com/.
About Hyzon
Hyzon is a global supplier of high-performance hydrogen fuel cell technology focused on providing zero-emission power to decarbonize demanding industries. With agile, high-power technology designed for heavy-duty applications, Hyzon is at the center of a new industrial revolution fueled by hydrogen, an abundant and clean energy source. Hyzon focuses on deploying its fuel cell technology in heavy-duty commercial vehicles across North America, Europe, and Australia/New Zealand today and in tomorrow's power generation and energy storage, mining, construction, rail, marine, and airport ecosystems. To learn more about how Hyzon partners across the hydrogen value chain to accelerate the clean energy transition, visit www.hyzonfuelcell.com.
WeTheMarket
1 month ago
HYZON ANNOUNCES STEPHANIE MUDGETT AS HEAD OF GLOBAL COMMUNICATIONS AND BRANDING
February 08 2024
https://ih.advfn.com/stock-market/NASDAQ/hyzon-motors-HYZN/stock-news/93235748/hyzon-announces-stephanie-mudgett-as-head-of-globa
Seasoned Professional Brings Decades of Experience Leading Fortune 50 Strategic Corporate Communications to Hyzon
BOLINGBROOK, Ill., Feb. 8, 2024 /PRNewswire/ -- Hyzon Motors Inc. (NASDAQ: HYZN) (Hyzon or the company), a leading hydrogen fuel cell technology developer and global supplier of zero-emission heavy-duty fuel cell electric vehicles (FCEVs), today announced Stephanie Mudgett in the capacity of Head of Global Communications and Branding, effective immediately.
Stephanie J. Mudgett Photo Credit: Dave Sizer
"Stephanie is a consummate communications leader who brings her extensive experience, accomplished strategic communications and public relations track record and unmatched energy to Hyzon. From her decades in the aviation industry at The Boeing Company to advising C-suite executives and overseeing business communications for Fortune 50 brands, Stephanie has done it all and we are excited to have her advising Hyzon," said Hyzon CEO Parker Meeks. "As our first Head of Global Communications and Branding, Stephanie's role is a vital next step in communicating the unique value of Hyzon's technology and commercialization as we work to accelerate the hydrogen transition and decarbonize transport and stationary applications."
As Head of Global Communications and Branding, Mudgett will lead all of Hyzon's communications functions, including branding and marketing, as well as the development and execution of the company's internal and external messaging. She will also oversee corporate reputation management, and strategic planning in support of the company's primary business objectives. Mudgett's involvement comes at a critical time for Hyzon as the company begins 2024 anticipating achievement of significant milestones ahead, such as the Start of Production (SOP) for the 200kW fuel cell system and the delivery of the first 200kW FCEVs into trial.
Mudgett, a Seattle native, is an industry veteran with 35 years of communications, branding, and public relations experience, including more than 30 years at The Boeing Company as both an employee and consultant, where she led global communications and branding efforts for airplane programs and executive communications. She also led numerous strategic communication efforts for some of The Boeing Company's most innovative technologies, impactful initiatives and product launches across their full lifecycle. Her deep knowledge of manufacturing, engineering and employee engagement will further support Hyzon's mission of accelerating decarbonization and the fight against climate change.
Since 2017, Mudgett has served as Vice President of Communications for global investment firm WestRiver Group (WRG), where she managed executive communications and public relations for WGR internally as well as for its innovative portfolio companies in the clean energy, technology, and life science industries, among others. She will continue to serve as an executive public relations counselor for WRG. In addition, Mudgett is a senior consultant at West Coast public relations and communications firm Fearey, where she provides strategic advice and counsel for legendary brands and clients regarding various issues.
Mudgett earned a Bachelor of Arts in broadcast journalism from Western Washington University with advanced studies at Cornell University. Mudgett is serving in her leadership capacity at Hyzon though a contractual agreement with her firm, Easton Communications.
About Hyzon
Hyzon Motors is a global supplier of high-power fuel cell technology focused on integrating its solutions into zero-emission heavy-duty fuel cell electric vehicles. Utilizing its proven and proprietary hydrogen fuel cell technology, Hyzon aims to supply zero-emission heavy duty trucks to customers in North America, Europe, Australia, and New Zealand to mitigate emissions from diesel transportation - one of the single largest sources of global carbon emissions. Hyzon collaborates with partners across the hydrogen value chain to bring clean hydrogen to the market to support fuel cell vehicle deployments. Hyzon is contributing to the adoption of fuel cell electric vehicles through its demonstrated technology advantage, fuel cell performance and history of rapid innovation. Visit www.hyzonmotors.com.
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