Entertainment

Is Green Hydrogen The Fuel Of The Future? This CEO Is Betting On It | Plug Power

Is Green Hydrogen The Fuel Of The Future? This CEO Is Betting On It

Plug Power ’s long-time CEO is repositioning the fuel cell maker to be a producer of hydrogen fuel made from water and renewable power to cut climate-warming industrial carbon pollution from the steel, oil and agricultural industries.

, a leading producer of electrolyzers, to find ways to lower the cost of that technology.“I’m in the camp that (Plug) can hit it and have the right pieces of the puzzle,” says CowenCOWNequity research analyst Jeffrey Osborne, who rates Plug Power shares Outperform. “They control all the pieces and have the cash to pull it off. The challenge is all those (green hydrogen plant) sites need interconnections and new green energy built out from partners. That can take time.”

What’s brightening the outlook for Marsh and Plug is the landmarkInflation Reduction Act, or IRA. When President Joe Biden signed it into law in August, the bill got attention for its generous incentives for electric vehicles, domestic battery production and wind and solar power to curb carbon pollution. A first-of-its-kind tax credit for green hydrogen was also tucked into the bill. It provides up to a $3 per kilogram tax credit for producers of that fuel.

Read more:
Forbes »

Flare Operation at Martinez Refinery is Not Threat to the Public: Firefighters

A planned “special operation” flare up at a refinery in Martinez caused concern for surrounding residents Friday evening. Read more >>

I was thinking as if the height of the walking sign shape of a globe the insert they need for the Earth’s air operations Ogrid to keep it systematic scaled input the weather le to us know How can I invest on it? :) Dead end technology

WSJ News Exclusive | Green Hydrogen Gets a Boost in the U.S. With $4 Billion PlantThe site of a retired coal plant will house the U.S.’s biggest green-hydrogen plant, with plans to start operations in 2027 Britain take note. Hydrogen and thorium are significantly better for the environment and sustainability then lithium, solar panels and wind turbines.

Portugal ends mandatory environmental assessments for green hydrogen projectsPortugal wants to speed up investments in green hydrogen projects, which are essential to decarbonize the economy, and will end mandatory environmental assessments for them in March 2023, Prime Minister Antonio Costa said.

Construction of biggest green hydrogen facility in U.S. underway in TexasAs the saying goes, “Everything’s bigger in Texas,” and that will certainly hold true as the largest green hydrogen facility in the nation will be constructed in the Lone Star State.

IndyPL picks Gabriel Morley as new CEO over current interim CEO Nichelle HayesThe Indianapolis Public Library announced that its board of trustees has chosen Gabriel Morley, a library director from New Orleans, as its new CEO. There is something to be said about having someone that has deep roots within the community. Not sure if this is a good decision but time will tell.

IndyPL picks Gabriel Morley as new CEO over current interim CEO Nichelle HayesAfter a yearlong search, a library director from New Orleans was selected as the Indianapolis Public Library’s new CEO over the current interim leader. Read more:

Hydrogen pipeline between Spain and France to cost $2.6 blnAn underwater pipeline to carry green hydrogen between Spain and France will cost about 2.5 billion euros ($2.6 billion), Spanish Prime Minister Pedro Sanchez said on Friday, adding he hoped the European Union would partly fund the project. Oh the humanity. Told ya. No one cares about EV and improving electrical infrastructure. The future is hydrogen and hydrogen cells.

partnering with Norway’s Nel , a leading producer of electrolyzers, to find ways to lower the cost of that technology.Phred Dvorak Dec.Portugal expects to become a major producer and exporter of green hydrogen with 70 private investors or groups planning to spend 10 billion euros ($10.The AES Corporation’s (AES) will put up roughly $4 million to build, own and operate as the investment will be shared equally between the two.

“I’m in the camp that (Plug) can hit it and have the right pieces of the puzzle,” says Cowen COWN equity research analyst Jeffrey Osborne, who rates Plug Power shares Outperform. “They control all the pieces and have the cash to pull it off. and power company AES Corp. The challenge is all those (green hydrogen plant) sites need interconnections and new green energy built out from partners. Environmentalists have criticized the so-called Simplex package as it may have impacts on nature and the well-being of populations. That can take time. The factory, which is slated to start operations in 2027 and will be built on the site of a retired coal plant, will use solar and wind power to manufacture the hydrogen, the companies said Thursday.” What’s brightening the outlook for Marsh and Plug is the landmark Inflation Reduction Act , or IRA. “We are very pleased to extend our hydrogen leadership and our extensive operations in Texas and announce this exciting joint venture with AES for a new green hydrogen production facility, which will be competitive on a global scale while bringing significant tax, job and energy security benefits to Texas,” said Air Products Chairman, President and CEO Seifi Ghasemi.

When President Joe Biden signed it into law in August, the bill got attention for its generous incentives for electric vehicles, domestic battery production and wind and solar power to curb carbon pollution.S. He said the current environmental licensing process “has a bureaucratic burden, which increases the context costs and limits the investments. A first-of-its-kind tax credit for green hydrogen was also tucked into the bill. It provides up to a $3 per kilogram tax credit for producers of that fuel. Continue reading your article with a WSJ membership. “IRA is the gravy on top as (Plug Power) started this process before IRA was announced,” said Osborne. Portugal hopes that its strong focus on low-cost wind and solar energy will allow it to produce hydrogen and other renewable gases at competitive prices. Unlike the auto industry’s past efforts to commercialize hydrogen-fueled vehicles, Marsh isn’t initially targeting the transportation industry.” Governor Greg Abbott celebrates the announcement of and AES’ new mega-scale green hydrogen facility in Wilbarger County.

Instead, he’s going for things, he says, “which are not all that exciting” but that are major sources of carbon pollution. Nearly all of this hydrogen will be used for stationary electricity generation, fuel for forklifts, agriculture and “green” steel rather than automobiles. Combined carbon emissions from steel making other industrial applications account for “about 26% of the world's carbon emissions versus 26% for mobility,” Marsh says. “The problem with the green hydrogen thing is that the capital cost is high and the efficiency is low.” Paul Martin, Hydrogen Science Coalition Marsh also sees trucks as a good candidate for hydrogen, particularly later this decade, and Plug is working with Renault on fuel cell delivery vans.

Both Martin and Robert Howarth, a professor of ecology and environmental biology at Cornell University, believe green hydrogen has a role to play, but that its best use is as a replacement for the dirty industrial variety made from methane used to make ammonia for agriculture. “About 80% of the population on the earth today is alive because we make synthetic nitrogen fertilizer. It's critical,” Howarth says. “If we can do that in a cleaner way, and green hydrogen is a lot better than gray or brown hydrogen for that purpose, then that’s a good use.” Developing power systems has been a priority for Marsh, an electrical engineer with degrees from Temple and Duke universities and an MBA from Southern Methodist, for four decades.

He began his career in the early 1980s at the legendary Bell Laboratories in New Jersey, which is credited with developing the transistor, the laser, photovoltaic cells and radio astronomy, among other technologies, and whose scientists won nine Nobel Prizes. “If you were a geeky engineer, it was a place that you revered. It was the place to go,” Marsh says from his office at Plug headquarters in Latham. After 17 years at Bell, he started and ran venture-backed Valere Power which made electric power equipment for the telecom industry until its sale in early 2008. He then joined Plug Power as its CEO to build up its fuel cell business.

Fourteen years later, Plug has deployed over 50,000 fuel cell systems, mainly for forklifts used by companies including BMW, Amazon and Walmart, which it claims is more than any other company in the world. It also estimates it’s the largest buyer of liquid hydrogen to fuel forklifts and stationary power systems, gaining expertise in working with all aspects of making, shipping and using hydrogen. Marsh is convinced the U.S. is poised to become the world’s green hydrogen superpower, with its abundant and growing renewable energy infrastructure and IRA-fueled incentives.

“It’s freaking out people around the world that the U.S. has such a distinct competitive advantage,” Marsh says, citing recent comments from a European hydrogen industry group. “Hydrogen Europe is saying the U.S.

has taken such a huge leadership lead in creating green hydrogen and green ammonia that it will be tough for the world to compete.” Given the urgent need to wean industry, power generation and transportation off of fossil fuels as rapidly as possible as the risk of severe climate change from carbon dioxide worsens, green hydrogen is looking like an increasingly attractive option. But critics like Martin aren’t convinced that Plug Power and its competitors are pursuing the best solution given hydrogen’s efficiency problems. “The devil’s in the details and in this case, he has a pitchfork that's labeled ‘thermodynamics’ and he's waving it at you and poking you in your sensitive bits every time you walk by,” says Martin. MORE FROM FORBES .

OPEN IN FULL
Back to top button
×