A trio of companies, a taxi chain, will start operating with hydrogen cars. Toyota will supply the cars and Everfuel the stations. All in all, smart business from Everfuel. The Mirai will wipe the floor with battery electric vehicles (BEVs) in taxi use, and on the other hand, such a number of taxis with those driving times already creates business for the refueling stations.
Similar ambition should be brought to Finland as well, but no. People prefer to tinker with their own things; the VTT (Technical Research Centre of Finland) hasn’t even heard of hydrogen, and peat is reportedly a renewable natural resource…
In any case, good work from Everfuel regarding network expansion. It seems to be a high-quality growth company.
If and when the price of green hydrogen at the pump in the US is around $10-15 per kilogram, a quick calculation shows that the annual revenue of hydrogen refueling stations will be quite large. This is likely to become a real business quite quickly. In contrast, the utilization rate of fast charging points for battery electric vehicles is about 1%.
I agree, and the price of green hydrogen is constantly coming down. As I understand it, the cost of investments currently keeps the pump price relatively high, but that too will decrease. It may never be $3 per kilo at the pump, and it doesn’t need to be. Fuel cell vehicles (FCEV) consume so little that driving with hydrogen in Europe is already cheaper than driving with gasoline in some places. The cheap gasoline in the US, of course, creates its own problems, but then again, their cars also consume more…
The advantage of FCEV is that low consumption. A kilo per 100km is a good rule of thumb for passenger cars.
"Everfuel launches plan for Danish hydrogen fueling network
Herning, Denmark, 25 May 2021 - Everfuel A/S today launched the company’s H2 station roll-out plan for Denmark targeting up to 19 strategically positioned fueling sites for zero emission transport by end of 2023. The plan is the third and final section of the Everfuel’s Scandinavian green hydrogen fueling strategy for trucks, buses and cars connecting the main traffic corridors in Sweden, Norway and Denmark. The Danish network will comprise of sites developed by Everfuel, including the fueling stations Esbjerg, Kolding, Aarhus and Korsør which Everfuel today operates and the high-capacity H2Station at Amager in Copenhagen which is set to start operations on 1 July 2021."
“The Danish H2 station network is part of Everfuel’s Ramp-up phase of the
announced plan to invest EUR 1.5 billion in developing the green hydrogen value
chain in Europe and reach EUR 1 billion of revenue from sale of hydrogen fuel to
buses, trucks and cars before 2030. Large-scale hydrogen fueling networks are
required for the EU and Denmark to meet stated climate targets.”
Covid has slowed things down a bit, but now it’s starting deliveries to the station acquired earlier (October -20), and the station will transfer to Everfuel’s ownership. The same deal included another station, for which the same steps will be taken in Q3/21.
In my opinion, the company has a working strategy for conquering Scandinavia. Once completed, Everfuel will have enough stations so well-placed that, for example, a hydrogen car road trip in Scandinavia would be possible. Great thing, this kind of supply also increases demand!
Now for the bad news, Finland (Soimi) has been left out of Everfuel’s plans. Of course, as a shareholder, I’m not entirely sure I’d even want it to expand to Finland and make a loss I myself would already be quite ready to switch to a hydrogen car fleet, but otherwise, things are really lagging behind here…
A recap of old news, but it discusses the company’s progress and goals. Slowly but surely, the stations are starting to be completed. To boost demand, the company is cooperating with Toyota to grow the market for fuel cell taxis.
It’s not a Finnish furniture store, but Norway’s largest grocery distribution chain with 700 trucks. This is a letter of intent, and I’m keenly following what the future holds. This could potentially be a big deal in Norway.
"Everfuel to deliver green hydrogen to fuel cells developed by TECO 2030
Herning, Denmark, 31 August 2021 – Everfuel has signed a strategic cooperation agreement with TECO 2030 for the delivery of green hydrogen to fuel TECO 2030’s fuel cells and fuel cell-based power generators in remote areas.
As part of the agreement, the companies will develop solutions enabling Everfuel to distribute and deliver green hydrogen to sites where TECO 2030’s hydrogen fuel cell power generators are located, or to ships, vehicles or equipment with TECO 2030’s fuel cells technology installed. The companies will focus particularly on exploring the possibility of providing decentralized power supply for off-grid construction projects in areas where Everfuel has available hydrogen capacity and infrastructure."
This is pretty weak news, though. TECO2030 was in my portfolio before, but the company really hasn’t sold anything yet. Fuel cells have been launched, but it’s a very small company.
Also, I’m wondering, if TECO sells the cell to a customer, how can TECO make a deal about the used fuel and its manufacturer? Or do the cells then go on a leasing basis?
And what about this last paragraph:
So the companies are focusing on fuel for off-grid cells, at construction sites without electricity, but where Everfuel has hydrogen production and infrastructure, huh? How can there be hydrogen infrastructure and production but a nearby construction site is still off-grid? Sounds a bit strange.
I myself would already be quite ready to switch to a hydrogen car fleet, but otherwise, things are really lagging behind here…