Latest news with #greenhydrogen
Zawya
2 days ago
- Business
- Zawya
Acwa Power raises $1.9bln capital through new rights issue
Acwa Power, the world's largest private water desalination company, leader in energy transition and first mover into green hydrogen, has announced the successful completion of its SAR7.13 billion ($1.9 billion) rights issue, thus marking one of the largest capital increases in the history of the Saudi capital market. Despite the tight discount level and the volatile market of the recent months, the transaction drew exceptional investor interest, underscoring strong confidence in Acwa Power's growth trajectory and strategic vision, with an overall subscription of 96%, and a 6x over-subscription in the rump placement with an overwhelming majority going to international investors, said the utility major in a statement. The proceeds from the rights issue will be used to fund Acwa Power's growth in a bid to achieve its target of $250 billion of assets under management (AUMs) by 2030 from the current $7 billion, it stated. It will be deployed across Acwa Power's robust project development pipeline, including power, water desalination and green hydrogen projects, as well as selective M&A opportunities to complement our portfolio, it added. On the successful deal, Chief Financial Officer Abdulhameed Al Muhaidib said: "The overwhelming support we received in our capital raise is a resounding vote of confidence in our strategy, growth ambitions, and role in supporting Saudi Arabia's Vision 2030." Al Muhaidib said: "Acwa Power has a strong track record, having almost doubled the size of the company in the last 3 years, and we are deeply grateful for the trust and continued support of our shareholders to achieve our 2030 target." "We extend our sincere appreciation to the Capital Market Authority, the Saudi Stock Exchange, and all our transaction partners whose support and collaboration were instrumental to the success of this rights issue," he added. The total offering size amounted to SAR 7.125 billion, with 96.2% of the new shares subscribed during the subscription period. The rump offering, where the qualified institutional investors had the chance to bid for the remaining unsubscribed new shares, was oversubscribed by 592%, demonstrating significant interest from investors beyond the initial shareholder base. Acwa Power said foreign investors accounted for 97% of the allocated rump shares, thus reinforcing its strong appeal to the global investment community. In a first for the Saudi market, Acwa Power hosted a dedicated investor engagement event focused on the retail segment, which was attended by over 200 investors. This initiative highlighted the company's commitment to inclusivity, education, and long-term shareholder value. This successful offering not only reinforces Acwa Power's position but also contributes to Saudi Arabia's broader transition toward a sustainable and diversified energy future, it added. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Globe and Mail
2 days ago
- Business
- Globe and Mail
Plug Power vs. FuelCell Energy: Which Fuel Cell Stock has Greater Upside?
Plug Power Inc. PLUG and FuelCell Energy, Inc. FCEL are both prominent names operating in the fuel cell technology market. As rivals, both companies are engaged in manufacturing innovative fuel cell product solutions and electrolysis platforms in the United States and internationally. These companies are poised to benefit from significant growth opportunities in the green hydrogen market due to growing demand for clean energy solutions and government initiatives to decarbonize various sectors. Let's take a closer look at their fundamentals, growth prospects and challenges. The Case for Plug Power Plug Power has been subject to a high cash burn rate and negative gross margins over the past several quarters. Lower revenues from the sales of hydrogen equipment and related infrastructure have been weighing on its performance. The company has been witnessing lower sales of GenDrive units, GenSure stationary backup power units, cryogenic storage equipment and liquefiers. Despite this, PLUG has been focusing on scaling up its business and investing in hydrogen plants, given the long-term growth potential of the green hydrogen energy market. Going by some estimates, the green hydrogen energy market is expected to grow to $30 billion by 2030. PLUG intends to capitalize on the opportunity with increased green hydrogen production at its new plant in Georgia, as well as a new joint venture with Olin Corporation OLN in Louisiana. Also, in January 2025, it secured a loan guarantee worth $1.66 billion from the U.S. Department of Energy (DOE) to support the construction of six green hydrogen production facilities. This marks a significant step in the expansion of its hydrogen production capabilities. Plug Power's strong expertise in providing and installing electrolyzers is underlined by its deployment of substantial proton exchange membrane (PEM) electrolyzer systems to date. This is underlined by its successful PEM electrolyzer deployment at the largest U.S. electrolytic liquid hydrogen production plant in Georgia. PLUG's cost management and supply-chain optimization efforts have also supported it in slowing down its cash burn rate, which declined nearly 50% year over year in first-quarter 2025. In the same quarter, it launched Project Quantum Leap with a target to generate more than $200 million in annualized savings. As part of the project, the company stands to benefit from sales growth, pricing actions, inventory and capex management, and increased leverage of its hydrogen production platform. It expects the project to boost its cash flow and reduce the cash burn rate in the quarters ahead. The Case for FuelCell Energy FCEL continues to receive orders from its customers who need a 24/7 clean energy supply to efficiently run their operations. Earlier this year, the company received a contract to build a 7.4 MW fuel cell power plant in Hartford, CT. The project is expected to add more than $160 million of future revenues to FuelCell Energy's generation backlog. The backlog at the end of second-quarter fiscal 2025 (ended April 2025) was $1.26 billion, reflecting year-over-year growth of 18.7%. The company's strategic partnership with Diversied Energy and TESIAC Corp. is also expected to accelerate its entry into the data center market and expand its penetration in deployed microgrid applications. FuelCell Energy is also working on a global restructuring of its operations in the United States, Canada and Germany. This initiative will lower operating costs, realign resources toward advancing the company's core carbonate technologies and protect its competitive position in the clean energy market. However, FCEL has been subject to negative gross margins over the past few quarters. Its gross margin was a negative 26% in the first six months of fiscal 2025. Rising operating costs and expenses have been weighing on its margins and profitability. For instance, in the first half of fiscal 2025, its cost of revenues increased 23% from the year-ago period. FuelCell Energy's high debt level remains another concern. Its long-term debt balance at the end of second-quarter fiscal 2025 remained high at $124.1 million. Considering its high debt level, the company's cash and cash equivalents (unrestricted) of $116.1 million do not look impressive. How Does the Zacks Consensus Estimate Compare for PLUG & FCEL? The Zacks Consensus Estimate for PLUG's 2025 sales is $709.3 million, implying year-over-year growth of 12.8%. The consensus estimate for its bottom line is pegged at a loss of 59 cents per share. The Zacks Consensus Estimate for FCEL's fiscal 2025 (ending October 2025) sales is approximately $144.6 million, indicating growth of 28.9% year over year. Estimates for its bottom line are pegged at a loss of $6.22 per share. Price Performance and Valuation of PLUG & FCEL In the past three months, Plug Power's shares have surged 91.8%, while FuelCell Energy stock has gained 37.4%. From a valuation standpoint, Plug Power is trading at a forward price-to-earnings ratio of a negative 4.13X. In comparison, FuelCell Energy's forward earnings multiple currently sits at a negative 1.06X. Conclusion Plug Power and FuelCell Energy have a Zacks Rank #3 (Hold) each, which makes choosing one stock a difficult task. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. FuelCell Energy's strength in the fuel cell market and solid backlog level have been diluted by rising costs and expenses, which have been denting its profitability. While PLUG's negative gross margins and cash outflows remain a near-term concern, its strong foothold in the green hydrogen market and growth investments are likely to be beneficial in the long run. Additionally, PLUG's Quantum LEAP initiative and strong sales estimates instill investor confidence. Given these factors, PLUG seems a better choice for investors than FCEL currently. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They include Stock #1: A Disruptive Force with Notable Growth and Resilience Stock #2: Bullish Signs Signaling to Buy the Dip Stock #3: One of the Most Compelling Investments in the Market Stock #4: Leader In a Red-Hot Industry Poised for Growth Stock #5: Modern Omni-Channel Platform Coiled to Spring Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%. Download Atomic Opportunity: Nuclear Energy's Comeback free today. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Plug Power, Inc. (PLUG): Free Stock Analysis Report FuelCell Energy, Inc. (FCEL): Free Stock Analysis Report Olin Corporation (OLN): Free Stock Analysis Report
Yahoo
3 days ago
- Business
- Yahoo
First Hydrogen Expands SMR Design Collaboration with Renewable Thermal Laboratory at the University of Alberta to Advance Nuclear SMR Technology
Vancouver, British Columbia--(Newsfile Corp. - July 28, 2025) - First Hydrogen Corp. (TSXV: FHYD) (OTC Pink: FHYDF) (FSE: FIT) ("FIRST HYDROGEN" or the "Company") is pleased to announce, further to the Company's news release of June 9, 2025, the addition of Small Modular Nuclear Reactor (SMR) design in the collaboration with Professor Muhammad Taha Manzoor from the University of Alberta. The project will focus on fuel reactor materials, reactor design and reactor design optimization taking into consideration the growth of artificial intelligence (AI) data centres. SMRs offer some key benefits compared to traditional nuclear reactors: SMRs are compact and can be installed in remote locations, can be factory-fabricated and shipped to the site, scale incrementally with demand, are safer due to its simplified designs, potentially use fuels other than enriched uranium, longer periods between refueling and have lower upfront costs. Canada is globally recognized for its exceptional nuclear expertise, notably through its renowned CANDU (Canadian Deuterium-Uranium) reactors, widely considered among the safest and most reliable nuclear technologies in the world. Leveraging SMRs, First Hydrogen aims to deliver stable, cost-effective, and efficient process for producing green hydrogen, addressing the growing demand for clean energy solutions worldwide. By integrating advanced nuclear technology with green hydrogen production, the Company is positioned to meet rising global demand for clean energy. The Company is currently reviewing potential sites in Canada and Europe. First Hydrogen believes Canada's strong nuclear expertise and proven track record position its technologies as a leading choice for SMR development. Prime Minister Carney has endorsed SMR technology as crucial to ensuring energy independence and transforming the country into a leading energy superpower. As per the Government of Canada (January 8, 2025), there are currently five nuclear power plants situated in three provinces housing 22 nuclear power reactors. These power plants produce 15% of Canada's electricity. Notable Canadian SMR projects include Ontario Power Generation's (OPG) Darlington SMR initiative aiming to build four reactors, New Brunswick's focus on fourth-generation SMRs including ARC Clean Energy's development at Point Lepreau, and Saskatchewan's active exploration into SMRs for grid-scale power generation. Goldman Sachs projects that artificial intelligence will drive a 160% increase in data center power demand by 2030, reshaping global energy consumption. Unlike previous years when efficiency improvements offset growing workloads, AI's heavy computational needs-like a ChatGPT query using nearly 10× the electricity of a Google search-are overwhelming those gains. Currently responsible for about 1-2% of global electricity, data centers could reach 3-4% by decade's end, with AI accounting for 19% of that demand by 2028. U.S. utilities needing $50 billion in new generation capacity and Europe facing over $1.7 trillion in grid and renewable investments. (AI is poised to drive 160% increase in data center power demand | Goldman Sachs) Dr. Manzoor commented, "We are pleased to see our collaboration with First Nuclear expanding, as they broaden their small modular reactor (SMR) approach by integrating design elements and committing additional support to this challenging yet exciting endeavor. SMR design is a complex, multidisciplinary problem that requires assembling a diverse team of experts. We look forward to deepening our partnerships across Canadian academia and industry in the years ahead." About First Nuclear Corp. ( First Hydrogen Corp. is committed to developing and commercializing advanced clean energy solutions, including green hydrogen produced by state-of-the-art Small Modular Reactors. The Company aims to provide scalable, sustainable, and economically viable alternatives to meet global climate goals and enhance energy security. About First Hydrogen Corp. ( First Hydrogen Corp. is a Vancouver, Montreal, Germany and London UK-based company focused on zero-emission vehicles, green hydrogen production and distribution. The Company has designed and built two hydrogen- fuel-cell-powered light commercial vehicles ("FCEV"). The FCEV are road-legal in the United Kingdom (excluding Northern Ireland) with 6,000 km of testing completed and have achieved a range of 630+ kilometres on a single refueling. The vehicles have successfully been trialled in real-world conditions with fleet operators in the United Kingdom. On behalf of the Board of Directors of FIRST HYDROGEN CORP."Balraj Mann"Chairman & Chief Executive Officer Contact:Balraj MannFirst Hydrogen Corp.604-601-2018investors@ Cautionary Note Regarding Forward-Looking Statements This news release contains information or statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of First Hydrogen, and includes statements about, among other things, future developments and the future operations, strengths and strategies of First Hydrogen. Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results. The forward-looking statements made in this news release are based on management's assumptions and analysis and other factors that may be drawn upon by management to form conclusions and make forecasts or projections, including management's experience and assessments of historical trends, current conditions and expected future developments. Although management believes that these assumptions, analyses and assessments are reasonable at the time the statements contained in this news release are made, actual results may differ materially from those projected in any forward-looking statements. Examples of risks and factors that could cause actual results to materially differ from forward-looking statements may include: the timing and unpredictability of regulatory actions; regulatory, legislative, legal or other developments with respect to its operations or business; limited marketing and sales capabilities; early stage of the industry and product development; limited products; reliance on third parties; unfavourable publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital requirements and liquidity; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; shifts in the demand for First Hydrogen's products and the size of the market; patent law reform; patent litigation and intellectual property; conflicts of interest; and general market and economic conditions. The forward-looking information contained in this news release represents the expectations of First Hydrogen as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. First Hydrogen undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE To view the source version of this press release, please visit Sign in to access your portfolio
Sustainability Times
5 days ago
- Business
- Sustainability Times
'This Is a Weapon, Not Progress': Australian Whistleblower Blasts 550 Million Kg of Hydrogen Powder as a Global Power Grab
IN A NUTSHELL 🌟 Australia is leading the way in energy innovation with its production of hydrogen in powder form. is leading the way in energy innovation with its production of hydrogen in powder form. ⚡ This advancement promises to make hydrogen transportation safer and more efficient by utilizing sodium borohydride . . 🌍 The country aims to produce 550 million kilograms of green hydrogen annually by 2040, significantly impacting global energy markets. of green hydrogen annually by 2040, significantly impacting global energy markets. 🔋 Australia's innovation sets the stage for a sustainable future, potentially inspiring other nations to adopt green hydrogen solutions. Australia is making headlines with its groundbreaking development in hydrogen production, promising to revolutionize the global energy landscape. The country is now producing hydrogen in a powder form, a significant leap from traditional methods. Spearheaded by Curtin University and backed by substantial government funding, this innovation is set to propel Australia to the forefront of green energy. As the world grapples with climate change, Australia's commitment to producing 550 million kilograms of green hydrogen annually by 2040 is not just ambitious but necessary. But what exactly does this mean for the energy sector and the environment? Understanding Powder Hydrogen as the Future Traditional methods of hydrogen transportation have long been fraught with challenges. Typically, hydrogen is either compressed as a gas or liquefied at extremely low temperatures, both of which are costly and inefficient. Moreover, the highly flammable nature of hydrogen makes large-scale transportation risky. The use of chemical carriers like ammonia adds another layer of complexity to the process, raising both logistical and safety concerns. Australia's innovative approach with powdered hydrogen, specifically using sodium borohydride, marks a significant advancement. When this powder interacts with water, it releases hydrogen in a controlled manner, leaving behind sodium metaborate. Previously, the cost and complexity of recycling sodium metaborate back into sodium borohydride posed a hurdle. However, recent innovations have made this process more affordable, opening new avenues for hydrogen transportation and storage. This development not only reduces the cost of hydrogen export but also enhances safety, making it a viable global energy solution. How the eyewear industry is adopting green practices to foster sustainability Australia's 550,000,000 kg Mission Australia's vision for hydrogen production doesn't stop at innovation; it extends to ambitious production targets. By 2030, the country aims to produce 330,000 tonnes of green hydrogen annually, scaling up to 550,000 tonnes by 2040. To put this into perspective, 550 million kilograms of hydrogen can generate over 18 billion kWh of energy, meeting the consumption needs of approximately 2.5 million Australian households. This endeavor also involves the efficient use of sodium borohydride. A tonne of this compound can yield 213 kilograms of hydrogen, and Australia's plan requires 2.58 million tonnes of sodium borohydride. Thanks to recent breakthroughs, this amount is now feasible. The country's scalable and safe hydrogen transport method not only positions Australia as a key player in the global hydrogen market but also aligns with its commitment to sustainable energy solutions. Toyota's $15,000 Electric SUV Is Crushing the Competition in China With Local Tech, High-End Features, and Record Sales Australia's Green Hydrogen Production Strategy Australia's focus on green hydrogen production is part of a broader strategy to become a leading hydrogen exporter. The country envisions supplying nations like Germany, Japan, and South Korea, which are advancing their zero-emissions goals but lack the infrastructure to scale hydrogen solutions. The Kotai Hydrogen Project, a collaborative effort with Curtin University and ARENA, is a $16.47 million initiative aimed at scaling sodium borohydride production and ensuring continuous hydrogen generation. Set to run until 2029, this pilot program is a game-changer in hydrogen production and transportation. By converting hydrogen into rechargeable power, Australia is poised to release 550 million kilograms of green hydrogen for export. This effort not only underscores Australia's commitment to sustainable energy but also sets the stage for the country to become a global leader in hydrogen technology. 'This E-Bike Weighs Less Than Your Backpack': Dahon's New Ultra-Light Electric Ride Breaks Price Barriers Without Sacrificing Power The Global Implications of Australia's Hydrogen Innovation The implications of Australia's hydrogen innovation extend far beyond its borders. By positioning itself as a major hydrogen exporter, Australia is contributing to the global shift towards renewable energy. This move is crucial as the world seeks sustainable alternatives to fossil fuels. Furthermore, Australia's advancements in hydrogen technology could pave the way for similar innovations worldwide, encouraging other countries to invest in green hydrogen. The environmental benefits are equally significant. By reducing reliance on fossil fuels, hydrogen can play a pivotal role in mitigating climate change. Australia's commitment to green hydrogen production is not just a national strategy but a global call to action. As the country continues to innovate and scale its hydrogen production, the world watches with anticipation. Will Australia's hydrogen revolution inspire other nations to follow suit and accelerate the transition to a sustainable energy future? This article is based on verified sources and supported by editorial technologies. Did you like it? 4.6/5 (28)
Sustainability Times
5 days ago
- Science
- Sustainability Times
'They'd Rather We Stay Dependent': Leaked Docs Reveal Elites Blocking 200-Million-Ton Power Vault That Could End Energy Poverty Forever
IN A NUTSHELL 🌍 Natural hydrogen found in an Albanian mine could redefine sustainable energy sources. found in an Albanian mine could redefine sustainable energy sources. 🔬 This discovery suggests a shift from skyward energy solutions like solar and wind to underground resources. ⚠️ The presence of unique ecosystems in these hydrogen-rich zones requires cautious exploration. 🔋 Combining this find with Europe's green hydrogen efforts could revolutionize clean energy production. In the ongoing quest for sustainable energy, much focus has been directed towards the sky, with solar panels and wind turbines becoming emblematic of green innovation. Yet, a groundbreaking discovery suggests that the future of clean energy might not be above us but beneath our very feet. An international team of scientists has uncovered a significant natural hydrogen reservoir in a deep chromite mine in Albania. This finding has the potential to redefine how we perceive energy resources and could be a pivotal moment in the ongoing energy revolution. We've Been Looking Up for Answers but Maybe the Future Was Beneath Us All Along For decades, the pursuit of sustainable energy has been synonymous with harnessing power from the sky. Solar panels have transformed rooftops into mini power stations, and wind turbines have reshaped landscapes with their majestic blades. The race to capture renewable energy has largely been an aerial endeavor, driven by the promise of endless resources from the sun and wind. However, the recent discovery of a natural hydrogen reservoir challenges this upward gaze. Deep within a chromite mine in Albania, scientists have stumbled upon a spring that does not release water but hydrogen. This almost pure hydrogen flow, estimated at over 220 tons per year, represents the largest natural release of the gas ever recorded. This revelation is not just a geological curiosity but a potential paradigm shift in energy sourcing, suggesting that what could power our future has been lying underground all along. 'Nuclear Fusion Just Got Real': Scientists Unveil Breakthrough That Could Deliver Endless Clean Energy and Erase Fossil Fuel Dependency The Hidden Jacuzzi, the Gas Leak, and the Quiet Energy Revolution This discovery marks an energy milestone, providing concrete evidence of naturally occurring hydrogen reservoirs. Unlike traditional methods of hydrogen production, which are costly and carbon-intensive, these underground reserves offer a ready-made, high concentration source of hydrogen. Drilling at the Bulqizë mine revealed that specific geological fault zones release this gas, hinting at a natural system that has been operating for millennia. Hydrogen has long been heralded as the 'fuel of the future.' Yet, its production has been hampered by the need for energy-intensive processes like electrolysis or methane combustion. The Albanian find changes this narrative, offering a glimpse into a natural, clean hydrogen source that bypasses these carbon-emitting processes. This revelation could spark a quiet energy revolution, providing a sustainable alternative that has been hiding in plain sight. 'This Device Slashes Bills Instantly': Tech Giant Reveals Breakthrough Energy System That Could Cut Costs for 40 Million U.S. Homes But Before the Hype — A Fragile Biosphere, and a Geological Clock Ticking Slowly While the discovery is exciting, it is crucial to temper this enthusiasm with caution. Geological hydrogen is not a renewable resource in the short term; it forms over millions of years, yet can be rapidly depleted. Additionally, these deep fault zones are home to unique ecosystems that rely on hydrogen as an energy source, existing in total darkness. Unregulated exploitation of these systems could lead to the destruction of these fragile biospheres. Moreover, the 220 tons of hydrogen extracted annually is minuscule compared to the 100 million tons produced globally. However, the significance lies in the geological model that this discovery represents. Scientists have, for the first time, managed to map and simulate the formation of an underground hydrogen reservoir. This breakthrough forces a reconsideration of Earth's hidden depths as a source of natural, clean energy. Fusion Future Ignited: New Ultra-Precise Laser Technology Could Finally Make Net-Energy Devices a Scalable Global Reality Charting a New Course for Energy Exploration The discovery of natural hydrogen reservoirs offers a new narrative for energy exploration. It suggests that Earth's depths may hold answers to our energy needs, providing a clean and accessible alternative to traditional fossil fuels. However, this potential must be balanced with responsible exploration. The lessons learned from oil extraction remind us of the importance of environmental assessments and scientific ethics. This finding coincides with Europe's underwater energy revolution, where 49,600 tons of green hydrogen are produced annually. Combining these innovations could pave the way for a sustainable future. Yet, it remains imperative to approach this new frontier with caution, ensuring that the pursuit of hydrogen does not repeat the environmental mistakes of the past. As we stand on the brink of a potential energy revolution, the question remains: How can we responsibly harness this newfound underground treasure while preserving the delicate ecosystems that exist within these geological wonders? The answer could redefine our approach to energy for generations to come. This article is based on verified sources and supported by editorial technologies. Did you like it? 4.4/5 (27)
