JEV:CC - Which Stocks Are Ready for Europe's Hydrogen Opportunity?
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ValueTheMarkets News Commentary - Developing renewable hydrogen is one of theEuropean Union's key priorities for decarbonizing the continent.But 96% of the hydrogen used in Europe's energy consumption wasproduced with natural gas, resulting in significant CO2 emissions.Government investment is likely on the way, giving the right companiesa serious growth opportunity. This article analyses the subject withreference to Air Liquide SA (OTC: AIQUY) , Linde PLC (NYSE:LIN) , Siemens AG (OTC: SIEGY) and Jericho EnergyVentures (TSX.V: JEV) (OTC: JROOF) .
One example that underscores the opportunitystems from the European Commission's Green Deal IndustrialPlan . This document outlined plans to launch an auction forsupporting renewable hydrogen production. Winners are set to receive afixed premium for each kg of renewable hydrogen produced over 10years.
Thedifferent businesses discussed in this article are making a variety ofmoves to capitalize on the hydrogen opportunity. These range frominvesting in hydrogen production plants or methods of green hydrogengeneration, all the way through to innovative hydrogen technologiesthat will allow different sectors to decarbonize theiroperations.
Jericho Energy Ventures ( TSX.V:JEV ) ( OTC:JROOF ) has developed a wide range of green hydrogentechnologies. Primary among these is its patented zero-emissionDCC TM hydrogen-fueled steam boiler, which targets theunderserved industrial and commercial markets.
Through thiscutting-edge innovation, the company has gained exposure to thegrowing hydrogen opportunity in Europe. That's because its EUpartner, Exogen, is offering a first-of-its-kind Hydrogen Steam Plant,featuring the state-of-the-art boiler technology.
In more good news forJericho, Exogen has bagged a memorandumof understanding with leading European green hydrogen producerLhyfe . The duo will work together on the joint operation ofindustrial steam plants and mobility solutions powered by greenhydrogen. This move could open large new markets for industrial steamand district heating growth, potentially greatly benefitting thissmall-cap.
Thispotential might be why some analystsare already branding this stock a BUY!
Air Liquide SA ( OTC:AIQUY ) produces, markets, and sells industrial andhealthcare gases, including liquid nitrogen, argon, carbon dioxide,and oxygen. The company also produces welding, diving, andtechnical-medical equipment.
The French industrial gases specialist has madeenergy transition and hydrogen infrastructure construction key targetsfor the future. As part of these goals, the company is embracinghydrogen energy.
One example of this was announced in June when it agreed to awind power purchase agreement with green energy giant Statkraft. Thisagreement will result in renewable energy being used to power theFrench giant's new electrolyser plant in Oberhausen, Germany, toproduce renewable hydrogen at an industrial scale.
Some of the plannedinfrastructure is incredibly ambitious, including the mooted creationof a hydrogen airport. This project has seen the company team up withGroupe ADP, with the duo facilitating the introduction of hydrogenplanes in approximately 30 airports around the world.
Linde PLC ( NYSE:LIN ) is an industrial gas and engineering companythat offers industrial gases, technologies, and gas processingsolutions. The German company has made major commitments to exploitingthe clean energy opportunity in Europe, stating in February that itwill invest as much as $9bn in green technology over the next threeyears.
Thebusiness has been backing up this ambition too. After finishingGreece's first-ever green hydrogen electrolysis plant, regionalCEO Oana Reiber said the company wanted to "achievedecarbonisation in all sectors of industry and automotive".
It has achieved someworld firsts beyond production too, as the business looks for otherareas that are ripe for hydrogen innovation. For example, this yearhas seen the business announce its development of the first-everhydrogen ferry.
The MF Hydra started commercial operations in March with a fuelcontainment system built, developed and installed by the chemicalsgiant.
SiemensAG ( OTC:SIEGY ) is a German engineering and manufacturingcompany, focusing on areas such as electrification, automation, anddigitalization. It also provides engineering solutions in automationand control, power, transportation, and medical diagnosis.
The business has notablybeen turning its attention towards hydrogen power.
Last year, the companyannounced plans for one of the largest green hydrogen generationplants in Germany. The announcement stated the plant will use wind andsolar power to produce green hydrogen through an 8.75-megawattelectrolyzer. The project, which will serve the industrial, commercialand road transport markets, is expected to produce 1,350 tons ofhydrogen every year.
Beyond this, the company has also joined forces with thealready referenced Air Liquide to produce industrial-scale renewablehydrogen electrolyzers. A statement from the company said the hope ofthe project is to foster a European ecosystem for electrolysis andhydrogen technology.
The hydrogen opportunity in Europe is huge and companies arescrambling to find the best way to contribute. Some, like Siemens andAir Liquide, seem focused on the generation of hydrogen and greenhydrogen. Others, such as Jericho, have developed exciting technologythat provides hard-to-abate sectors with a way to use the influx ofnewly available green hydrogen to decarbonize their operations. Thenthere are the likes of Linde, which are attempting to juggle bothapproaches.
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