WeTheMarket
6 days ago
Repost from NKLA board, courtesy of uksausage.
Nikola announces better than guided numbers:
https://ih.advfn.com/stock-market/NASDAQ/nikola-NKLA/stock-news/94136225/nikola-wholesales-72-hydrogen-fuel-cell-trucks-for
For Q2 2024, Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, wholesaled 72 Class 8 Nikola hydrogen fuel cell trucks, above the high end of truck sales guidance of 60 units.
For the first half of 2024, Nikola wholesaled 112 hydrogen fuel cell trucks.
"We have maintained our 2024 momentum with solid wholesale numbers, new customers such as Walmart Canada, and repeat customers like 4GEN and IMC, purchasing vehicles through our dealer network," said Nikola CEO Steve Girsky. "We are firmly on the field and are continuing to secure our first-mover advantage in zero-emissions Class 8 trucks in North America, as well as with our HYLA hydrogen refueling solutions."
All Nikola trucks are assembled in Coolidge, Ariz.
WeTheMarket
6 days ago
Follow up on previous Mission Hydrogen webinar post by David Wenger, Mission Hydrogen GmbH, based in Germany (for context).
The Japanese word for “Future” is “Mirai” – and that’s also the name of the current Toyota fuel cell vehicle. I’ve had one for three years. Last week, I handed it back to the Toyota dealer because the leasing contract had expired.
It’s time to say “Goodbye Mirai” or “Goodbye Future.” The “Future” is now history.
Here are a few thoughts on my experience (also available on https://www.linkedin.com/posts/dawenger_mirai-future-toyota-activity-7213583238533918724-AaTZ)
- The reliability of the car was 100%. No issues at all. That's certainly good news.
- I have done 44,859 km over three years. Not very much, but still. It was used for my daily trips to the office, but also to customer meetings etc. - everyday scenarios. It worked well.
- My team used it as well whenever they needed a car.
- The refueling station nearby (some 7 min from home and some 10 min from the office) was very helpful. I only remember one situation when it was not operational, but it did not really matter that day.
- Other refueling stations I have used regularly where the ones in Switzerland and some other stations in the south of Germany. No big deal, everything was fine (with a few exceptions, but no major problems).
- I have never done a 1,000+ km trip or so. I try to avoid that anyway, but even more with such a car.
- The typical consumption was 1.1 kg per 100 km, and the hydrogen price in Germany is € 15.75 including 19% VAT. Yes, that's expensive, but the main problem is that nobody is making any money along the value chain. That's a big problem.
- The only real complaints I got were from my kids. I have three kids, and the Mirai is certainly not suitable for a family. If young kids complain about missing legroom in a car it's certainly time to think about the overall vehicle concept.
- My own "WTF" typically came when I tried to transport goods of any kind. Sorry my friends at Toyota, but the trunk is a disaster. I think a cargo bike would do a better job. No matter how much you like the hydrogen experience: this is a no go.
- The second "WTF" was about the UX and the map. I don't know who designed it, but Toyota is lightyears behind Tesla and other OEMs.
- The third "WTF" was about the range indicator. I was told it's very conservative to be on the safe side. I can understand that, but why don't you tell me "you have 1.2 kg H2 left" somewhere? That would give me the opportunity to do my own math if necessary. If you tell me that I have 50 km left (with an unknown 70 km of safety margin)...not what I need.
And to answer the most important question again: I had the car to get real life experience - and talk about it. I am not one of those PowerPoint heroes, and I don't want to rely on Google research. I want first hand experience in everything I do. Mission accomplished.
While my project has come to an end, Toyota is still pushing forward, especially on the heavy duty side.
On Wednesday, we'll do a webinar on the "Toyota Hydrogen Strategy for Heavy Duty" with Vincent Mattelaer (Toyota Motor Europe) and Jackie Birdsall (Toyota North America). Both of them are among the leading experts within Toyota, and both of them are very famous hydrogen ambassadors, too.
I promise you: You will learn a lot, and they will certainly be able to answer 99% of your questions.
Join for free: www.mission-hydrogen.com (and yes, we will talk about my experience, too).
Mission Hydrogen GmbH
David Wenger
Einsteinstrasse 55
89077 Ulm
Germany
WeTheMarket
7 days ago
Mission Hydrogen webinar "The Toyota Hydrogen Strategy for Heavy Duty."
Date: Wednesday, July 03
Time: 16:00 CEST | 07:00 am Pacific | 10:00 am Eastern | 07:30 pm IST | 10:00 pm AWST
Duration: 90 minutes
Join for free: www.mission-hydrogen.com
Background
The first country in the world to adopt a national hydrogen strategy was Japan. One of the driving forces behind was the largest OEM, Toyota Motor Corporation.
Toyota has had their own vision of a decarbonized mobility for decades, and hydrogen has always been at the center of their activities. Currently, Toyota has several vehicles on the market, including the Mirai (passenger car), a prototype of the Hilux (pickup truck) and several heavy duty trucks (including vehicles in cooperation with other OEMs such as Kenworth, Isuzu and Daimler Buses).
In our next webinar, Toyota will present their current hydrogen strategy for heavy duty vehicles, including their vision of the infrastructure.
The speakers are:
Vincent Mattelaer, Toyota Motor Europe: Vincent has been with TME since 2007, and he is responsible for the European hydrogen R&D activities including standardization (SAE, CEN, ISO), the development of the necessary refueling protocols and EU projects.
Jackie Birdsall, Toyota North America: Jackie is the Senior Engineering Manager of the Fuel Cell Integration Group at Toyota Motor North America and was once called the “Fuel Cell Rockstar” by the press. With 20+ years of experience, 171,216 followers on LinkedIn and thousands of hours of hands-on vehicle testing experience (yes, these activities with wrenches and screwdrivers out in the Death Valley to fix issues before the vehicles are delivered) Jackie is one of the most experienced and knowledgeable hydrogen leaders out there.
Jackie and Vincent will share their decades of experience with you and explain:
- Why Toyota believes in hydrogen
- What their long term vision for zero-emission mobility is
- What vehicles Toyota has under development and what they will look like (ok, they cannot share the secrets, but they will give you an overview)
- What kind of hydrogen infrastructure Toyota needs
- What the difference is between Europe, North America and Japan in terms of hydrogen mobility
- What Codes&Standards they have helped to develop, and what is still needed
- What you can do e.g. as a supplier to be part of the game
- As always, they will answer your questions regarding technology, vehicles and market.
WeTheMarket
1 month ago
$53M project brings hydrogen-powered Hyundai trucks to California
Brinley Hineman
Mon, May 6, 2024
https://finance.yahoo.com/news/53m-project-brings-hydrogen-powered-193654599.html
The Center for Transportation and the Environment launched a project in California to deploy Hyundai Motor Co.’s hydrogen-powered trucks to boost zero-emission freight transportation in the state.
The $53 million project, NorCal Zero, will bring 30 of Hyundai’s Xcient Fuel Cell electric trucks to the San Francisco Bay and Central Valley areas, CTE said in a news release. The Xcient is touted as the world’s first mass-produced, heavy-duty truck powered by hydrogen.
Officials celebrated the project’s launch at a dedication of a hydrogen fueling station in West Oakland last week.
“Hyundai is incredibly proud and thankful to be a part of the largest ever single deployment of heavy-duty fuel cell electric trucks in North America. The community in Oakland leads the way in clean, sustainable freight transportation and serves as a blueprint for many more deployments in the U.S. to come,” Jim Park, a senior vice president at Hyundai Motor North America, said in the release.
CTE, a nonprofit headquartered in Atlanta that develops and implements zero-emission vehicles and supporting infrastructure, estimates that the project has the potential to avoid 24,000 metric tons of carbon dioxide emissions — equivalent to the emissions produced by consuming nearly 2.4 million gallons of diesel.
The trucks can travel more than 450 miles on a single fill of hydrogen, the release said. They are currently in use in Switzerland, according to Hyundai.
Hyundai has been working to build a comprehensive hydrogen mobility ecosystem across North America, the company said in a news release.
The hydrogen fueling station is in a historically Black and Latino community impacted by the freeways and diesel trucks traveling to and from the Port of Oakland. The nonprofit touted it as the largest in the world, designed to support up to 200 trucks and back-to-back refueling.
“Port-adjacent communities like West Oakland suffer disproportionately from the impacts of diesel freight, so we’re excited to explore how alternatives like hydrogen fuel cell electric trucks can move us toward our zero emissions goals,” West Oakland Environmental Indicators Project co-Director Brian Beveridge said in the release. “We look forward to a day when our community can breathe easy without the fear of toxic freight emissions.”
Papé Group maintains the trucks at its San Leandro facility. The company upgraded its facility with hydrogen detection and ventilation equipment to service the trucks. The University of California Berkeley and the West Oakland Environmental Indicators Project are collecting data on the project.
WeTheMarket
2 months ago
Message from David Wenger, Mission Hydrogen GmbH.
Happy Sunday everyone!
Germany has broken a new record in solar electricity generation this week. 51.2 GW, on Wednesday at 1pm.
Wow. I was taught at university that “PV is good, but it’s never going to happen. It’s too expensive, and it always will be.” That was 20-something years ago.
Things are changing rapidly.
Will hydrogen be a part of the energy transition? Maybe no. Probably yes.
The best way to predict the future is to create it.
And if you want to develop or sell products to the hydrogen industry, you need knowledge and real life experience.
So here’s what I have to offer for free:
1. Webinar with the Alberta Motor Transportation Association on their “Real Life Experience with Fuel Cell Trucks” in the Canadian winter: www.mission-hydrogen.com
2. Webinar with Draeger on the “Hydrogen Safety in FCEV Workshops” (you can use that knowledge for any kind of hydrogen workshop, repair center, bus yard or truck stop): www.mission-hydrogen.com
3. Hydrogen Online Workshop 2024: 24 hours, 50+ keynotes, panel discussions and expert sessions with some of the best hydrogen experts in the world: www.hydrogen-online-workshop.com/program (there’s a - unfortunately small – “Add to Calendar” icon next to every presentation that converts the time zones automatically)
4. Webinar on “Best of Hydrogen Online Workshop 2024” where I will share a summary of the 24 hours with you and answer all kinds of hydrogen related questions: www.mission-hydrogen.com
5. Webinar on “Hydrogen in the UK” with different speakers to give you an overview of the hydrogen activities mainly in England and Scotland. This webinar is not open for registration yet, but you can mark the 19th of June in your calendar.
6. Webinar with Parker on “Water Treatment for Electrolyzers”: www.mission-hydrogen.com
7. Webinar with Toyota on “The Toyota Hydrogen Strategy for Heavy Duty”: www.mission-hydrogen.com
I want you to take 3 minutes of your valuable time and sign up. It’s free, and there is no catch.
If you think that one of the events is valuable for one of your friends or colleagues, please forward this email. It just takes you 5 seconds, but it might change a lot.
Thank you for your time, and have a nice rest of your Sunday.
David
Mission Hydrogen GmbH
David Wenger
Einsteinstrasse 55
89077 Ulm
Germany
WeTheMarket
2 months ago
HYZON ANNOUNCES FIRST QUARTER 2024 FINANCIAL AND OPERATING RESULTS
MAY 13, 2024
Link to Press Release https://investors.hyzonfuelcell.com/news/news-details/2024/HYZON-ANNOUNCES-FIRST-QUARTER-2024-FINANCIAL-AND-OPERATING-RESULTS/default.aspx
Link to Investor Presentation https://investors.hyzonfuelcell.com/files/doc_financials/2024/q1/Q1-2024-Earnings-Deck_FINALv2.pdf
Link to Webcast https://app.webinar.net/GDRdZBdzwj4
Link to Previous (Q4/FY 2023) Results https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174090606
BOLINGBROOK, Ill., May 13, 2024 /PRNewswire/ -- Hyzon (NASDAQ: HYZN) (Hyzon or the Company), a U.S.-based manufacturer and global supplier of high-performance hydrogen fuel cell systems focused on providing zero-emission power to decarbonize the most demanding industries, today announced its first quarter 2024 financial and operating results:
Recent Highlights
- First quarter 2024 Revenue of $10.0 million as compared to no revenue in the prior-year period, demonstrating material progress in customer acceptance and completion of commercial cycle
- Announced Joint Development Agreement with New Way Trucks, North America's largest private refuse manufacturer, and unveiled first hydrogen-powered refuse truck for U.S. market at WasteExpo in May; trials with major refuse collection fleets expected to begin summer 2024
- Completed five 200kW C-sample Fuel Cell Systems (FCS) in Q1 and five additional 200kW FCSs in April, remaining on track for Start of Production (SOP) of 200kW FCS in second half of 2024
- Successfully completed four-month refuse truck trial with REMONDIS Australia, converting to full vehicle sale
- Launched 200kW fuel cell system integrated in Australian heavy-duty cabover truck, with first SOP of Class 8 200kW Fuel Cell Electric Vehicle (FCEV) expected in second half of 2024
- R&D, SG&A, and net cash burn, excluding the first SEC settlement payment and the proceeds from the sale of the Rochester facility, all came in at or below the low-end of Company guidance ranges for the first quarter of 2024
"I am pleased with our start to 2024, during which we have built upon the commercial and technology inflection points we achieved in 2023," said Hyzon Chief Executive Officer Parker Meeks. "We've successfully completed the commercial cycle for vehicles deployed last year, evident in our quarterly revenue progression. We continue to receive positive data and feedback from initial vehicle deployments. Last week, we unveiled the first U.S. fuel cell refuse vehicle with New Way, and we eagerly anticipate commencing trials for this vehicle and the 200kW Class 8 fuel cell truck this summer. We remain on schedule for the SOP of our single stack 200kW fuel cell system in the latter half of this year, and are enhancing manufacturing efficiencies and expanding our facility capabilities. I am highly encouraged by the progress we have made and the strength of the Hyzon platform as we progress through the balance of 2024."
First Quarter 2024 Business Highlights
Commercial Progress
Hyzon unveiled the first fuel cell electric refuse truck for the U.S. market with New Way Trucks, the largest private refuse equipment manufacturer in North America, at the WasteExpo in Las Vegas, Nev. earlier this month. After seeing the strong operational performance of the Company's Australian refuse truck over a four-month customer trial in the second half of 2023, Hyzon accelerated this vehicle development to bring the zero-emission platform to North America.
In Q1, Hyzon delivered one Class 8 fuel cell truck to a drayage customer at the Ports of Los Angeles and Long Beach, the largest port drayage fleet in the U.S.
Hyzon continues to receive positive feedback from Performance Food Group (PFG) in California as they gain operational experience through the four FCEVs delivered to them in December 2023. Pending a successful 200kW vehicle trial planned for summer 2024, Hyzon expects to work with PFG on an expanded agreement for 15 200kW FCEVs, as well as a potential option for 30 more FCEVs.
In March, Hyzon launched its single stack 200kW fuel cell system and powertrain, integrated into a heavy-duty cabover vehicle, a familiar design for fleets in Australia, New Zealand, and Europe. The Company expects to deploy 200kW cabover vehicles in Australia and New Zealand and 200kW conventional vehicles in the U.S. later this year.
Growing Government Support for Clean Energy Initiatives
The Inflation Reduction Act earmarks $2.6 billion for the Environmental Protection Agency's Clean Ports Program. As initial examples, Hyzon is actively supporting two of the top ten ports in the country in their applications under the Clean Ports Program which have the ambition to deploy up to 100 trucks in a single application.
The Department of Energy also awarded $750 million funded by the Bipartisan Infrastructure Law (BIL) to companies advancing clean hydrogen technologies, including a project on which Hyzon is a partner. Hyzon has also recently submitted a concept paper as the lead applicant under an additional $425 million BIL funding program, which if selected, may provide up to $14 million to help fund future expansions of the Bolingbrook fuel cell facility.
Single Stack 200kW Fuel Cell System C-Sample Development Update
Hyzon continues to progress its C-sample development to meet all technical requirements to reach SOP for its single stack 200kW fuel cell system in the second half of 2024. The Company completed five C-sample systems in the first quarter using production tooling and an additional five systems in April, while continuing to advance rigorous durability testing to remain on track for SOP.
Concurrently, the Company has been working to drive greater efficiency in its manufacturing operations as it prepares for SOP at its Bolingbrook fuel cell facility. In the first quarter, it increased its daily single cell production rate by over 2.5 times.
Hyzon expects its 200kW FCS annual production capacity to be 700 systems on three shifts with less than $3 million of capital expenditures remaining to achieve SOP and the targeted initial capacity. Capital-efficient capacity expansions are planned as demand continues to grow.
First Quarter 2024 Financial Updates
"We recognized first quarter revenue of $10.0 million compared to no revenue in the comparable prior-year period. Hyzon believes that this reflects a significant customer and financial milestone for the Company – an amount this quarter approximately equal to the total revenue recorded prior to this quarter and since the Company's inception," said Hyzon Chief Financial Officer Stephen Weiland. "While an important validator and reflection of customer acceptance, we do expect near-term fluctuations in revenue recognition given the timing of deployments and contract terms. We were also pleased that R&D, SG&A, and net cash burn excluding the first SEC settlement payment and the proceeds from the sale of our Rochester facility, all came in at or below the low-end of our guidance ranges for the quarter."
As of March 31, 2024, unrestricted cash, cash equivalents, and short-term investments were $82.6 million, representing a net cash burn of $29.6 million from the December 31, 2024 balance of $112.3 million. Net cash burn, excluding the $8.5 million first SEC settlement payment and approximately $2.9 million in proceeds received from the sale of the Company's Rochester facility, came to $24.0 million for the first quarter of 2024. Excluding these items, and consistent with Company guidance for the quarter, this represented the lowest quarterly net cash burn over the last ten quarters and the fifth consecutive quarter of declining net cash burn.
Conference Call Information
The Hyzon management team will host a conference call to discuss its first quarter financial results on Monday, May 13, 2024 at 4:30 p.m. Eastern Time.
Participants can join the call at 1-888-800-7840 or international callers can use 1-646-307-1856 and enter the access code 5240234. To listen to the live audio webcast and Q&A, visit the Hyzon investor relations website at https://investors.hyzonfuelcell.com/.
About Hyzon
Hyzon is a global supplier of high-performance hydrogen fuel cell technology focused on providing zero-emission power to decarbonize demanding industries. With agile, high-power technology designed for heavy-duty applications, Hyzon is at the center of a new industrial revolution fueled by hydrogen, an abundant and clean energy source. Hyzon focuses on deploying its fuel cell technology in heavy-duty commercial vehicles across North America, Europe, and Australia/New Zealand today and in tomorrow's power generation and energy storage, mining, construction, rail, marine, and airport ecosystems. To learn more about how Hyzon partners across the hydrogen value chain to accelerate the clean energy transition, visit www.hyzonfuelcell.com.
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RealTime53
2 days ago
Monksdream
7 days ago
