H2 Energy Group

If it won’t make Plug Power money, Plug won’t do it. That was the message from CEO Andy Marsh in an attempt to reassure investors that the US green hydrogen firm is focused on profitability. Plug reported heavy Q4 losses despite slowed cash burn, including a $971m impairment cost, job cuts, and facility consolidation. This is a paid article, to read the article in full you can sign in if you are subscribed or subscribe today.

With the funding, Stargate expects to scale its manufacturing capacity, expand its testing capabilities and establish partnerships with “leading players” in the green hydrogen ecosystem. The financing round was made up of customers with backgrounds in renewable energy and utilities, such as Giga and UG Investments, whilst SmartCap Green Fund also invested, a state-backed venture capital fund investing in green tech companies. “We are thrilled to have SmartCap and Giga joining our ownership structure, along with additional investment from UGI,” explained Marko Virkebau, CEO of Stargate Hydrogen. “To have strategic customers investing in the company is the strongest testament to [...]

In California in the US, Shell will no longer operate any of its seven light-duty hydrogen fuelling stations. This will cut the number of active light-duty open retail stations in California to 61, according to the latest data from the California Energy Commission (CEC), which tracks fuel cell electric vehicle sales and stations. The Shell stations are closing “due to hydrogen supply complications and other external market factors,” said the CEC update. But the company is keeping all its heavy-duty refuelling stations. “Supply is available, but hydrogen demand has simply grown much more slowly than projected, making it challenging for [...]

According to local reports, the decision was made as an emergency measure after onboard diagnostic systems in all vehicles detected unexpected malfunctions on the morning of March 3, 2025. All 25 hydrogen buses operated by MPK Poznan, purchased in 2023, were impacted. This marks the first major incident involving these vehicles. Read more: The first hydrogen-powered Solaris buses have been deployed in Poznan Reportedly, Solaris highlighted poor hydrogen quality, supplied by Poland’s Orlen, as the most likely malfunction in its bus units. “This is currently being clarified and checked in independent laboratories examining hydrogen samples from the station that supplies [...]

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The US green hydrogen tech player said it was having to temper its investment pace on “certain platforms,” make more job cuts and limit its CAPEX to near-term “critical investments.” The $971.3m in non-cash charges stem from asset impairments and bad debt provisions recorded in OPEX. Plug attributed these impairments to strategic shifts following weaker-than-expected market demand, impacting assets like plants,  equipment and power purchase agreements. These impairments are expected to ease future depreciation and amortisation expenses by $55m to $60m in 2025. While Plug says the measures could save between $150m and $200m annually, they also underscore the financial [...]

As a regional subsidiary of one of Germany’s largest supermarket cooperatives, Edeka Group, the company will use the Hyundai XCIENT fuel cell-powered trucks to deliver goods to stores in the nation’s northern regions. For the pilot operations, which are part of a wider company initiative to reduce carbon footprint, the vehicles will be closely monitored over the coming months, with a focus on range, efficiency in daily use, and the refuelling infrastructure required. “We are committed to sustainable logistics solutions and will continue to evaluate innovative technologies and alternative drive systems to minimise our environmental footprint,” explained Helen Dahlke, who [...]

The troubled US fuel cell and truck firm issued a Series A preferred stock to Dr. Christian Mohrdieck, granting him a number of votes equal to all outstanding Class A common stock, to effectively guarantee approval of the liquidation plan. However, these votes only activate if the number of Class A shares voting ‘for’ exceeds the combined number voting ‘against’ or ‘abstaining’. If that condition is met, the preferred share casts its full voting power in favour, effectively securing approval. Hyzon’s board implemented this mechanism after two prior attempts to hold the vote failed due to insufficient shareholder participation. The [...]

Initiated by the Ministry of New and Renewable Energy (MRNE), the projects will see 37 hydrogen fuel cell and internal combustion engine (ICE) vehicles tested for public transport operations and nine refuelling stations implemented. Expected to be commissioned in the next 18-24 months, buses will operate throughout Delhi, Mumbai, Ahmedabad, Kochi and Bhubaneswar, reportedly covering 300km on a single refill. Furthermore, the projects have been awarded to major companies including Tata Motors, Reliance Industries, NTPC, Anert, Ashok Leyland, HPCL, BPCL and IOCL. The government’s total support for the selected projects will be around 2.08m rupees ($23m). In an online statement, [...]

Since the start of 2025, the producer has already been supplying hydrogen to Inocel from its Belfort and Saint-Égrève plants for its fuel cell test benches, as it looks to develop its 300kW systems to meet stationary power and mobility demand. Inocel launched its Z300 fuel cell product in 2022, claiming to offer up to 60% efficiency. Now, Inocel Managing Director, Jules Billiet, says the 140-tonne offtake agreement will guarantee the firm a reliable supply of green hydrogen for its test benches and production sites. “This contract marks another essential step in our mission to make green hydrogen widely available,” [...]