The compelling value of hydrogen technology is now widely recognized in Germany and we see very significant momentum. We will deliver the project to E.ON by December of this year, illustrating one of the competitive advantages of the solution, speed of deployment.
Competitive storage technology, such as pump hydro or compressed air, can take many years to approve, site, and build. We will deliver this project in just eight months from date of order.
In addition, the Power-to-Gas solution is scalable, flexible, fast responding, and offers unmatched energy storage capacity. These attributes have been thoroughly studied by several utilities and research institutes within Germany.
This has laid the foundation for numerous projects to be developed and the list is still growing. Our experience with industrial hydrogen projects, our patent portfolio, and our technology leadership in scale and efficiency are strong support to our ongoing leadership in this field.Considering other segments of the business, we looked to hydrogen fueling. Recent announcements from several players in the automotive sector show growing momentum in hydrogen vehicles. Significant production volume has been announced for 2014 and 2015, and this has been accompanied for new plans for hydrogen fueling infrastructure. In the last month, Germany announced a plan for 50 additional fueling stations. Again, Hydrogenics is a leader in this space, having just opened the largest station in Europe in February this year, along with our project partners, Linde Gas, and the station’s owner, an electric utility, Vattenfall. While there are many paths for the delivery of hydrogen, the link between electrolysis and renewable generation is very compelling. Read the rest of this transcript for free on seekingalpha.com
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