Plastics made from hydrogen, and big oil's hydrogen exploration
Big oil companies are investing a lot of money into a new hydrogen infrastructure, and researchers have found a way to create plastic made from hydrogen.
Big oil companies recorded significant profits in the last year. Shell made a whopping $40 billion in profits, BP generated $28 billion, and Exxon reported a net profit of $56 billion. The rising energy costs and the increasing demand for fossil fuels are the primary drivers behind these results for these companies. However, they are also aware of the need to transition their business toward sustainable energies. Investments from Shell, BP, Exxon, and Total Energies have increased significantly in recent years. Shell is heavily investing in BioLNG for trucks and also in hydrogen technologies.
The latest addition is a "pay-per-use" model for hydrogen trucks. Customers can access a 15-tonne Mercedes-Benz AG Atego fuel cell vehicle with fully comprehensive insurance, maintenance support, and have the benefit of the 15-minute refuelling times. Shell has not disclosed the fee they will charge, and it will only role out in Germany as a test. This is not a new idea. Hyundai has been running a similar project in Switzerland since 2020, and it continues to operate, despite the rising costs for hydrogen. https://www.linkedin.com/feed/update/urn:li:activity:7092051516273876992/
The truck company Nikola is undergoing a change in leadership. CEO Michael Lohscheller will step down immediately due to a "family health matter" and will be returning to Europe. His successor will be Steve Girsky, a former Vice-Chairman of General Motors, Board Member of United States Steel Corporation, and Chairman of the Board of Nikola since 2020. Lohscheller's tenure was marked by success. He placed a stronger emphasis on hydrogen and established the global energy brand HYLA, which offers hydrogen refueling services.
https://www.nikolamotor.com/press_releases/nikola-announces-leadership-transition-appoints-stephen-girsky-as-chief-executive-officer/
We recently had the pleasure of speaking with Michael Lohscheller. You can find the podcast here:
Startups are essential for the development of new technologies. The transformation of the mobility sector in the past 10 years would not have been possible without the contributions and investments from startups. It is therefore not surprising that new startups are also establishing themselves in the hydrogen industry. One such example is Enapter. This startup is dedicated to the development of electrolyzers. Enapter's concept revolves around creating modular electrolyzers, each about the size of a microwave, but can be combined so that in the end you can build a massive plant out of the modules. The company is successful and has now signed its first contracts in China. https://www.powerengineeringint.com/hydrogen/enapter-looks-to-gain-electrolysis-market-share-in-china/
Hydrogen Vehicle Systems (HVS) has unveiled a five-point plan that outlines the necessary key steps to make widespread adoption of hydrogen-powered heavy goods vehicles (HGVs) a reality, as well as a call to action to propel the transition to an H2 (hydrogen fuel) economy. The list includes legislation and regulatory framework changes, incentives, infrastructure development, and increased research from OEMs and Tier1 companies.
https://www.hydrogenfuelnews.com/hydrogen-vehicle-systems-hgv-plan/8560011/
Plastic is both a blessing and a curse. We need plastic in many areas of our lives, especially in industry and medicine. On the other hand, the proliferation of plastic is littering the oceans and microplastics have already made their way into people's lungs. An important first step would be if plastic could at least be produced in a climate-neutral way. It would be even better if the plastic could be recycled into usable energy. Masdar, Mitsubishi Chemical, and INPEX plan to make polypropylene from e-methanol, which itself is made from green hydrogen and carbon dioxide. Green hydrogen is produced by using renewable energy to split water with electrolyzers.
https://hydrogen-central.com/plastics-green-hydrogen-unlock-promise-circular-economy-hycap/
Clean tech company Quantron AG, a specialist in sustainable passenger and freight transportation, is entering into a strategic collaboration with Mob’Hy, a specialist in production and distribution of green hydrogen. As part of this collaboration both companies signed a Letter of Intent (LOI), outlining Mob'Hy's procurement of 253 hydrogen-powered vehicles spanning from late 2024 to 2027. https://hydrogen-central.com/quantron-mobhy-sign-loi-over-250-hydrogen-vehicles-france/
If you would like to learn more about the business strategy of Quantron – we spoke with CEO Michael Perschke.