Editing FuelCell Energy, Inc.
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The use of electrolysis to abstract hydrogen as opposed to the steam methane process is due to experience a 16% annual growth rate up to 2028 (www.businesswire.com/news/home/20190618005111/en/Navigant-Research-Report-Shows-the-Global-Market-for-Electrolyzers-is-Expected-to-Grow-at-16-Annually-Through-2028) | The use of electrolysis to abstract hydrogen as opposed to the steam methane process is due to experience a 16% annual growth rate up to 2028 (www.businesswire.com/news/home/20190618005111/en/Navigant-Research-Report-Shows-the-Global-Market-for-Electrolyzers-is-Expected-to-Grow-at-16-Annually-Through-2028) | ||
== Traction of Hydrogen produced by Fuel Cell Energy == | == Traction of Hydrogen produced by Fuel Cell Energy == | ||
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The annual growth of hyrdrogen energy of 8.8% to 2030 is based off the assumption the current cost ratio between the different energy sources. | The annual growth of hyrdrogen energy of 8.8% to 2030 is based off the assumption the current cost ratio between the different energy sources. | ||
Green hydrogen currently costs | Green hydrogen currently costs about 4.1$ . kg ([https://sustainability.crugroup.com/article/energy-from-green-hydrogen-will-be-expensive-even-in-2050#:~:text=Some%20level%20of%20storage%20will,%2Fkg%20(real%202022). https://sustainability.crugroup.com/article/energy-from-green-hydrogen-will-be-expensive-even-in-2050#:~:text=Some%20level%20of%20storage%20will,%2Fkg%20(real%202022).]) | ||
In October 2021 the cost of green hydrogen was lower than the cost of grey hydrogen in many parts of the world (https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/electric-power/102221-european-green-hydrogen-costs-already-competitive-with-fossil-fuels-say-producers). This was mainly due to the energy crisis caused by the Ukraine war. Although caused by a singular event, it appears the war is projected to last years. This will likely shift the balance between grey and green hydrogen as well as hydrogen energy itself against fossil fuels. | In October 2021 the cost of green hydrogen was lower than the cost of grey hydrogen in many parts of the world (https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/electric-power/102221-european-green-hydrogen-costs-already-competitive-with-fossil-fuels-say-producers). This was mainly due to the energy crisis caused by the Ukraine war. Although caused by a singular event, it appears the war is projected to last years. This will likely shift the balance between grey and green hydrogen as well as hydrogen energy itself against fossil fuels. | ||
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Combined with this, heating of homes from hydrogen will almost inevitably undergo an exponential surge towards 2030. The UK government has stated that 3 million homes in the UK will be heated by hydrogen by 2030 (https://www.thisismoney.co.uk/money/bills/article-9905101/Millions-homes-hydrogen-powered-2030-drive-energy-bills.html). This is over 10% of UK homes. | Combined with this, heating of homes from hydrogen will almost inevitably undergo an exponential surge towards 2030. The UK government has stated that 3 million homes in the UK will be heated by hydrogen by 2030 (https://www.thisismoney.co.uk/money/bills/article-9905101/Millions-homes-hydrogen-powered-2030-drive-energy-bills.html). This is over 10% of UK homes. | ||
Thus the average projection of growth of hydrogen production of 8.8% annually is likely to be accurate for the coming years but in the few years before 2030 it is likely to be underplayed. I thus project a great 'surge' in hydrogen production towards 2030 (https://renewablesnow.com/news/hydrogen-production-to-surge-by-2030-as-more-countries-embrace-it-720430/). | Thus the average projection of growth of hydrogen production of 8.8% annually is likely to be accurate for the coming years but in the few years before 2030 it is likely to be underplayed. I thus project a great 'surge' in hydrogen production towards 2030 (https://renewablesnow.com/news/hydrogen-production-to-surge-by-2030-as-more-countries-embrace-it-720430/). | ||
== Main Competitors == | == Main Competitors == | ||
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* gross loss in 2021 of 6.5, 23.5 million in 2022. This jump has been explained by extra costs incurred by REFHYNE I and Leuna projects.([https://itm-power-assets.s3.eu-west-2.amazonaws.com/2022_Annual_Report_d61e87a868.pdf https://itm-power-assets.s3.eu-west-2.amazonaws.com/2022_Annual_Report_d61e87a868.pdf)] | * gross loss in 2021 of 6.5, 23.5 million in 2022. This jump has been explained by extra costs incurred by REFHYNE I and Leuna projects.([https://itm-power-assets.s3.eu-west-2.amazonaws.com/2022_Annual_Report_d61e87a868.pdf https://itm-power-assets.s3.eu-west-2.amazonaws.com/2022_Annual_Report_d61e87a868.pdf)] | ||
* Pre tax loss of 27.6 million in 2021 and 46.7 in 2022 | * Pre tax loss of 27.6 million in 2021 and 46.7 in 2022 | ||
== Recent Financial Performance == | == Recent Financial Performance == |