Growth and Delays in the Hydrogen Industry
Key Ideas
  • Plug Power sees a significant increase in electrolyzer revenues in 2024, driven by large contracts and a 5 MW system.
  • Sunfire and P2X Solutions commission Finland's first industrial plant for green hydrogen production, with a capacity of 20 MW.
  • Bosch delays its fuel cell manufacturing investment in South Carolina, citing changes in the US hydrogen fuel cell mobility market.
  • Metacon signs a supplementary agreement with Peric Hydrogen Technologies, expanding its manufacturing capabilities for pressurized alkaline stack technology.
Plug Power has reported a remarkable 583% increase in electrolyzer revenues in 2024, attributing it to a major purchase agreement with Allied Green Ammonia for a green hydrogen-to-ammonia plant. Sunfire and P2X Solutions have commissioned Finland's first commercial industrial plant for green hydrogen production in Harjavalta, utilizing Sunfire's electrolyzer technology. Bosch has delayed its fuel cell manufacturing investment in South Carolina due to shifts in the US hydrogen fuel cell mobility market. Meanwhile, Metacon has expanded its partnership with Peric Hydrogen Technologies, allowing the manufacturing of large electrolyzers with pressurized alkaline stack technology. Additionally, Repco has ordered Andritz to engineer a 100 MW green hydrogen plant in Rostock, Germany, scheduled for completion in 2027.
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