In another development Wednesday, PowerCell Sweden AB bagged an order to supply hydrogen fuel cell systems to the German aviation company H2FLY.Īnd, in what might be the biggest news from the industry Wednesday, Australia's H2X Global revealed that it plans to list on a U.S. Industrial giant ABB, for example, just placed an order worth $5.3 million with U.K.-based AFC Energy for hydrogen fuel cell technology it will use with its e-mobility fast-charging charging stations, as reported by hydrogen-focused news organization H2 View. Yet competition in its niche is also heating up in tandem with rising global interest in green hydrogen. Plug Power also unveiled a fuel cell powered van prototype in collaboration with Renault and HYVIA that it touted as the first such van in North America. ![]() Plug Power made multiple moves in October as well, including inking a partnership to build green hydrogen plants in Europe, announcing collaborations with Airbus and Phillips 66, and forming a joint venture with South Korea's SK Group to expand hydrogen into Asia. Just last week, it opened a new facility in Rochester, New York, that it described as the first and largest green hydrogen and fuel cell gigafactory in the state. Plug Power is making significant investments in green hydrogen. Juvekar set a price target of $19 a share on that stock. Ballard Power, in comparison, is primarily a fuel cell player. ![]() Juvekar believes Plug Power is better poised than Ballard Power to succeed, given its presence in fuel cells, hydrogen, and electrolyzers. Accordingly, Juvekar raised his price target on Plug Power stock to $56 a share from $35 per share, citing catalysts that include rising fuel gross margins and the expected ramp-up of Plug Power's green hydrogen network in the second half of 2022.
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