Electrolyzer Sales Expanding

The Hydrogen Council’s May "Hydrogen Insights" report shows hydrogen projects reaching “final investment decision” jumping more than 300% from ~$2bn for the period from September 2021 through May 2022 to ~$7bn for the period from May 2022 through January 2023. Based on anecdotal evidence in the form of press releases from electrolyzer manufacturers, these project approvals appear to be driving larger and more frequent electrolyzer orders. Below is a non-exhaustive list of some of the larger orders reported since March organized by manufacturer and announcement date. This list excludes several large agreements signed by electrolyzer manufacturers that are pending final investment decision by the ultimate customer.  Notable among these is the massive agreement signed by HIF Global for 1.8GW of electrolyzers to be manufactured by Siemens Energy. If the project moves forward, the electrolyzers will be deployed at the HIF Matagorda eFuels Facility in Texas. The press release suggests that Siemens Energy will proceed with an expansion of its manufacturing capacity in anticipation of the order. Siemens Energy and HIF Global also partnered on the Haru Oni green hydrogen-based eFuels plant in Chile that initiated operations at the end of 2022.

Plug Power Inc
5/22 5MW to Ardagh Glass Limmared (green glass in Sweden)
5/22 5MW to Hydro Havrand (aluminum recycling in Norway)
5/22 5MW to APEX Group (green steel in Germany)
6/14 5MW to Avina Clean Hydrogen (commercial vehicles in California)
7/11 10MW to ReNu Energy Limited (road transport and gas blend in Australia)
7/13 100MW to an unidentified oil & gas company in Europe

Thyssenkrupp Nucera AG
5/22 20MW+ to H2 Green Steel (green steel in Sweden)
6/21 20MW+ reserved capacity agreement in North America for unidentified customer

Nel AS
3/14 120MW to HH2E (hydrogen hub in Germany)
7/14 20MW to Hyd’OCC (hydrogen hub in Southern France)
7/17 40MW to Bondalti (chemicals, heavy duty vehicles and pipeline blend in Portugal)

Cummins Inc
3/20 90MW to Varennes Carbon Recycling (waste-to-methanol in Quebec)

ITM Power plc
7/17 100MW to undisclosed client (long lead time materials and components only, at this stage)

McPhy SA
7/4 20MW to HyCC (renewable methanol plant in the Netherlands)
5/9 4MW to Plansee Group (green advanced metals in Austria)

Hystar AS
6/7 5MW to Poloenergia SA (hydrogen hub in Poland)