Hydrogen & Fuel Cells

Daimler Truck laid out what it says Europe needs to move battery-electric and hydrogen trucks from early adopters into mainstream fleets, including public megawatt chargers, truck-ready hydrogen stations and road tolls that reward zero-emission vehicles, with CEO Karin Rådström making the case at the company's Media Night in Hanover, Germany, ahead of IAA Transportation 2026. Mercedes-Benz Trucks held about 38% of Europe's market for locally CO2-free medium- and heavy-duty trucks in the first half of 2026, and customers have driven the eActros 600 more than 160 million kilometers since series production began at the end of 2024. Heavy-duty battery-electric trucks took 2% of Europe's market in 2025, and Daimler Truck estimates about 35% of new trucks would need to run on batteries or hydrogen by 2030 to meet EU CO2 targets. Europe has fewer than 2,000 public truck charge points today, most of them standard CCS chargers, and Rådström said it needs 35,000 megawatt charging points by 2030, along with 1,000 hydrogen stations, up from around 187 today, most of which supply only 350 bar. On cost, she pointed to CO2-based road tolls, saying the toll difference between a diesel truck and an electric truck in Germany comes out to about 33 to 35 cents per kilometer, but only 13 of the EU's 27 member states have adopted CO2-based tolls. Dachser chief development officer Stefan Hohm said the German logistics provider has 25 emission-free delivery areas in Europe and more than 200 battery-electric trucks on the road, including more than 160 Mercedes-Benz Actros models, out of a fleet of more than 15,000, and called grid access and capacity the main pain point. The eActros Lowliner opened for orders Sept. 15, with series production at the Mercedes-Benz plant in Wörth, Germany, set for the second quarter of 2027, and a small series of 100 Mercedes-Benz NextGenH2 fuel-cell trucks enters customer operations from the end of 2026 with Dachser as the first customer. Daimler Truck is asking the EU for an early review of its heavy-duty CO2 regulation, whose 2030 target calls for a 43% cut in CO2 emissions from new heavy-duty vehicles compared with 2019, and puts the cost of falling short at about €120 million in penalties for each percentage point Mercedes-Benz Trucks misses.

Bloom Energy shares surged as much as 15% to a three-month high on Tuesday after fresh evidence the fuel-cell maker is preparing to increase production and a utility unveiled a large fuel-cell proposal. The City of Fremont, California, said in a LinkedIn post that Bloom acquired a 158,000-square-foot facility on Encyclopedia Circle to expand manufacturing operations, a site nearly as large as Bloom's existing 164,000-square-foot plant in Fremont. Bloom has been expanding annual production capacity at Fremont from about 1 gigawatt to 2 GW by the end of 2026, and has said its facilities could ultimately accommodate approximately 5 GW of annual capacity, with each additional gigawatt taking an estimated six to nine months to install and requiring about $100 million to $150 million of investment. Separately, Ameren Missouri on Monday unveiled a 20-year energy plan that includes the addition of 500 megawatts of natural-gas fuel cells by 2030, though Ameren has not selected Bloom as a supplier, making the proposal an opportunity rather than an order. Ameren said it has signed agreements to serve 2.8 GW of aggregate large-load demand by 2030, and Bloom said in August that its AI-infrastructure business included nearly two dozen customers representing about 250 MW of capacity.

Plug Power said Tuesday it signed an agreement to supply 280 megawatts of electrolyzers for Arcadia eFuels' planned sustainable aviation fuel project in Denmark, while also becoming the preferred supplier for a pipeline of additional projects totaling more than 1 gigawatt. Shares of Plug rose 4.8% in premarket trading Tuesday. The initial agreement covers Arcadia's Project ENDOR at the Port of Vordingborg, where renewable electricity would power Plug's GenEco electrolyzers to produce about 110 tons of hydrogen a day, which Arcadia plans to combine with captured carbon dioxide to make synthetic aviation fuel, or e-SAF. Deliveries for the 280 MW ENDOR project will not begin until a notice to proceed is issued, and the project has not yet reached a final investment decision, while the additional 1 GW-plus pipeline represents potential business rather than firm orders. Under a separate cooperation agreement, Plug will be the preferred electrolyzer supplier for four additional Arcadia projects planned in Europe and the Americas, with Arcadia receiving priority access to Plug's manufacturing capacity. The project is aimed partly at demand created by the EU's ReFuelEU Aviation rules, which require sustainable aviation fuels to account for an increasing portion of fuel supplied at European airports, with separate requirements for synthetic aviation fuels beginning in 2030.

PTT Public Company Limited, or PTT, has signed a memorandum of intent for cooperation with four government agencies to develop the I-SPARK pilot model, building readiness in clean energy and infrastructure for low-carbon industry in Rayong province. Dr. Kongkrapan Intarajang, Chief Executive Officer and President of PTT, presided over the ceremony, held at Gastech Bangkok 2026 at the BITEC Exhibition and Convention Center in Bangkok. The co-signatories included Dr. Buranin Rattanasombat, Chief Operating Officer of the New Business and Sustainability Group at PTT; Dr. Pirun Saiyasitpanich, Director-General of the Department of Climate Change and Environment; Mr. Wattanapong Kurovat, Director of the Energy Policy and Planning Office; Mr. Warakorn Prasertphon, Director-General of the Department of Mineral Fuels; and Mr. Sumet Tangprasert, Governor of the Industrial Estate Authority of Thailand. I-SPARK is the development of a low-carbon industrial ecosystem in Map Ta Phut district, Rayong province, integrating investment projects and key infrastructure across three clusters: Low Carbon Energy & Solution, Shared/Common Infrastructure, and Specialties, Bio & Circularity. It covers LNG, hydrogen and ammonia energy, battery energy storage systems, carbon capture and storage, sustainable aviation fuel, bio-based products, specialty chemicals, and the recycling of used plastics back into new raw materials. By 2035, investment in I-SPARK projects is expected to reach as much as 5 billion US dollars and to cut greenhouse gas emissions by as much as 9 million tonnes of carbon dioxide equivalent.

Teledyne Energy Systems, Inc., a subsidiary of Teledyne Technologies Incorporated, has been selected to participate in NASA's Announcement of Collaboration Opportunity, establishing a collaborative effort with NASA's Glenn Research Center and Johnson Space Center to advance next-generation space power technology. Under the Space Act Agreement, Teledyne Energy Systems and NASA will work together to mature the company's Hydrogen Electrical Power System, known as HEPS, advancing the technology from Technology Readiness Level 5 to Technology Readiness Level 7 for space environments. The collaboration supports NASA's ongoing efforts to develop reliable, efficient power systems for future lunar and deep-space exploration missions. Barbara Stachowiak, Vice President and General Manager of Teledyne Energy Systems, called the selection an important milestone for the company's hydrogen fuel cell technology and said advancing HEPS to a higher technology readiness level will further demonstrate its potential to provide reliable, scalable energy for future exploration architectures and long-duration surface operations. HEPS is an advanced hydrogen fuel cell system designed to deliver efficient, air-independent power for demanding space applications, and the collaboration will leverage the technical expertise and facilities of NASA Glenn and NASA Johnson to help validate HEPS performance in relevant space environments.

Tran Capital Management's Midcap Equity Strategy highlighted Bloom Energy Corporation as a meaningful contributor to its second-quarter 2026 returns, citing the company's role in easing the power bottleneck constraining the AI buildout. In its investor letter, the firm said Bloom Energy's solid-oxide fuel cells deliver reliable on-site power in months rather than the years-long grid interconnection queues, and that the solution is now cost-competitive with gas generation. The letter pointed to a landmark agreement with Oracle for up to 2.8 gigawatts of fuel cell capacity, with an initial 1.2 gigawatts already contracted and deploying. Bloom Energy reported first-quarter 2026 revenue that more than doubled year-over-year and swung firmly to GAAP profitability, while management raised full-year guidance to roughly 80% growth at the midpoint. The Midcap Equity Strategy returned 16.9% net of fees in the second quarter, bringing year-to-date returns to 12.3%, compared with the Bloomberg U.S. Mid Cap Index's 11.1% quarterly gain and 12.1% year-to-date return. Bloom Energy closed at $275.19 per share on September 23, 2026, with a market capitalization of $81.05 billion and a 52-week range of $61.37 to $351.28.

Jacobs has won a contract extension to continue its role on thyssenkrupp Steel's direct reduction plant in Duisburg, Germany, providing project management office, construction management, and assembly management services as the hydrogen-capable facility moves toward first iron production. Jacobs was originally awarded the program and construction management contract in August 2023, and will continue to coordinate design, logistics, and construction. Once complete, the plant is expected to produce approximately 2.5 million metric tons of direct reduced iron a year, replacing coal-powered blast furnaces with a hydrogen-based process.

Ceres Power said it remains confident of signing a new manufacturing licensee this year as demand grows for on-site power generation, particularly from data centers facing long equipment and grid-connection lead times. Chief Executive Officer Phil Caldwell said existing licensees are advancing toward commercial production: Doosan Fuel Cell in South Korea secured its first export order, a contract to supply stacks to Germany's Reverion valued at about £60 million, while Delta Electronics is progressing initial production at its Tainan facility and has announced plans for a larger manufacturing site in the Guanyin District of Taiwan, and Weichai is targeting initial production later this year or early next year with an objective of reaching 200 megawatts of production capacity by the end of the following year. Chief Financial Officer Stuart Paynter said Ceres achieved about half of its £45 million contracted-revenue guidance in the first half and remains confident it can deliver the full target in the second half, while research and development costs fell to about £18 million in the first half of 2026 from about £25 million a year earlier. The company raised more than £100 million through an oversubscribed equity issuance during the first half and now has 350 to 370 employees across its Horsham and Redhill operations following a transformation program that began in the fourth quarter of 2025. Management reiterated its target of securing, on average, one new manufacturing license agreement every 12 months, and said royalties are currently not material but are expected to grow from next year and become more significant in 2028 and 2029 as partners reach larger production volumes.

Bloom Energy Corporation unveiled a new 800V DC-native fuel-cell power architecture on September 16, designed to supply continuous direct current to the next generation of AI data centers. The solid-oxide fuel cells generate continuous 800V DC power natively rather than producing AC power that must then be converted to DC, potentially removing conversion stages such as transformers and switchgear and lowering both capital cost and energy losses. Bloom claims the technology can cut non-compute capital expenditures for a 1 GW data center by $3.6 billion, or 27%, and lower five-year total cost of ownership by $5.5 billion, or 9%, compared with traditional AC-based infrastructure, though those figures come from the company's own model and depend on site design, energy prices, equipment costs and customer deployment decisions. Bloom pointed to Nvidia's planned adoption of 800V DC architecture beginning with Rubin Ultra and Kyber systems, and said its 2026 Mid-Year Data Center Power Report found data center leaders expect DC-based architectures to account for 58% of new deployments by 2030. The launch comes as Bloom reported its strongest quarter ever in Q2 2026, with revenue up more than 165% year over year and crossing the $1 billion milestone, and raised full-year revenue guidance to $3.9 billion to $4.2 billion, implying 100% growth at the midpoint, along with adjusted EPS guidance of $2.55 to $2.85. The stock has jumped almost 170% since the beginning of 2026, leaving limited room for weaker-than-expected execution, and the company still needs to demonstrate that data-center operators will deploy the technology at scale.

Energy Minister Eknat Prompan has unveiled a major energy restructuring plan, under which the government will reserve 10,000 megawatts of rooftop solar generating capacity specifically for the public, set at roughly 5 kilowatts per household, to spread the right across households nationwide. Under the new approach, the state will buy back surplus power and apply it as a discount on the same billing cycle's electricity bill. A 5-kilowatt system can generate about 600 to 700 units per month, worth roughly 2,000 baht or more, and the state will provide a subsidy of 50,000 baht, with the income from the generated power used to pay it off. The equipment is expected to be fully paid off in about 7 to 10 years. On cutting permitting steps, coordination will be handled solely through the distribution utilities, with a target of about 1 week for inspection and acceptance in self-consumption installations, and no more than 1 month in cases of selling power back. For the new Power Development Plan, or PDP, three goals are set: cleanest, most stable, and fairest. It targets raising the share of clean energy from the current level of just over 20% to close to 50% within 10 years, and no less than 65% in the long term, while reducing reliance on spot-market LNG in favor of long-term contracts, and opening the door to future technologies including hydrogen, geothermal, solid oxide fuel cells, and small modular nuclear reactors, or SMRs. Meanwhile, the public electricity cost that has been embedded in the power tariff structure for 30 to 40 years amounts to a burden of about 18 billion baht per year. The government has removed this burden from the structure and has already implemented a measure capping the first 200 units of household electricity at 3 baht per unit.

Allied Biofuels has confirmed full stakeholder confidence in reaching Final Investment Decision in Q1 2027 for its US$6.1 billion Presidential Decree-backed Sustainable Aviation Fuel and e-SAF project in Uzbekistan, following a major Front-End Engineering Design meeting at Sinopec's office in Ningbo, China. The meeting brought together Allied Biofuels with Sinopec Engineering Group Co., Ltd. of China, Topsoe A/S of Denmark, Sasol South Africa Limited and Plug Power of the United States, the principal international engineering and technology providers supporting the project. Sinopec Engineering Group is delivering FEED, systems integration, detailed engineering and open-book cost development, with the project structured for rollover to EPC. Topsoe and Sasol are providing the core technology license, engineering design package and technical services for the e-SAF production pathway, combining Topsoe's SynCOR technology with Sasol's Fischer-Tropsch technology, while Plug Power, through Plug Power Europe SAS, is supporting the project with up to 2.4 GW of GenEco PEM electrolyzer systems plus the Basic Engineering Design Package and associated engineering services. Alfred Benedict, Managing Director of Allied Biofuels, said the Ningbo meeting confirms the strength of the project and the confidence shared by every stakeholder, with responsibilities clear, key technology interfaces aligned and the execution programme established. Allied Biofuels is developing Central Asia's first world-scale integrated biorefinery in Uzbekistan, purpose-engineered for industrial-scale SAF and e-SAF production.

Eight companies including Daimler Truck, Volvo Group, Toyota Motor Corp., Bosch, Air Liquide, TotalEnergies, TEAL Mobility and MB Energy announced at IAA Transportation in Hanover a joint effort to make hydrogen trucking commercially viable in Europe by 2030, with Germany as the template and a request that the European Commission and other national governments copy it. Daimler Truck brought its Mercedes-Benz NextGenH2 Truck to the show floor and plans to put a small series of 100 into customer operations from the end of 2026, with the first batch of 50 already sold, said Karin Rådström, president and CEO of Daimler Truck, who added that the company is investing a mid-three-digit million euro amount in hydrogen trucks through the end of the decade. The NextGenH2 runs more than 1,000 kilometers on a single fill of liquid hydrogen and carries 1.3 metric tons more payload than Daimler's battery-electric eActros 600. Both truck makers named €6 ($6.92) a kilogram as the hydrogen price point at which the business case works, and Rådström said Europe's 187 hydrogen stations are mostly built at 350 bar, which does not give trucking the added range it needs. Germany's federal transport minister, Steffen Bilger, said a government funding call covering hydrogen refueling stations and hydrogen-powered commercial vehicles together drew more than €450 million in applications against the €220 million available, with bids seeking more than 70 high-capacity stations and 800 heavy-duty trucks.

Hyster and its authorized dealer Briggs Equipment UK have delivered a hydrogen fuel cell-powered Hyster ReachStacker to the Port of Tilbury in Essex, the first hydrogen fuel cell container handler to be deployed and fully operational in a real-world port application in the United Kingdom. The machine is powered by a Nuvera 60kW fuel cell engine that converts hydrogen into electricity to support a 130kWh lithium-ion battery, and it incorporates standardized Hyster software architecture used across other Hyster electric products. It is expected to help the Port of Tilbury cut its CO2 emissions footprint by more than 107,000 kilograms, or 79,600 pounds, of CO2 per year. On-board high-pressure tanks store 32kg of hydrogen, supporting long run times across a full 12-hour shift, and the ReachStacker can be refueled in less than 30 minutes, operating entirely on green hydrogen produced with an electrolyzer from GeoPura. The Port of Tilbury, part of the Forth Ports Group, is working toward net zero greenhouse gas emissions by 2042, and Briggs Equipment will provide front-line service and maintenance support while Hyster's Hypercare program supplies enhanced factory backing.

Plug Power reported a second-quarter 2026 net loss of approximately $190.1 million, narrower than the $228.7 million loss in the year-ago quarter, as its gross margin improved to negative 0.9% from negative 30.7%. For the first six months of 2026, the company posted a net loss of approximately $436.1 million and a gross margin of negative 6.8%, compared with negative 41.4% a year earlier. The company said the margin improvement came from enhanced pricing, better stack reliability, increased labor utilization and lower labor and overhead costs, while its Power Purchase Agreements gross loss improved to negative 30% from negative 91.6%. Plug Power's 2026 restructuring plan, initiated in January, was completed in the second quarter, with restructuring costs falling to $0.2 million from $3 million a year ago. Among peers, Bloom Energy's gross margin expanded 670 basis points to 33.4% on a 232% rise in gross profit, while Flux Power Holdings reported a gross margin increase of 10 basis points.

Prime Minister Anutin Charnvirakul declared on the Gastech 2026 stage that Thailand will not choose between security and sustainability alone, but must have both at a price that people and businesses can afford. Natural gas and LNG remain the backbone during the transition, while energy sources are being diversified to reduce risks from global market prices. The government is preparing a 50 billion baht fund starting in mid-October to support households installing rooftop solar to cut electricity bills. Energy Minister Akanat Promphan is pursuing an LNG strategy alongside hydrogen, ammonia, and CCS, aiming for Net Zero 2050. Thailand is also opening applications for the 26th petroleum exploration and production licensing round covering over 60,200 square kilometers. In the first half of the year, the BOI received investment promotion applications exceeding 1.43 trillion baht, up 37% driven mainly by digital, clean energy, and technology. Warut Thammavaranucupt, Chief Executive Officer of Sermsang Power Corporation Public Company Limited, or SSP, is preparing to bid on projects under the draft PDP 2026, which sets new generating capacity in the first 12 years from 2026 to 2037 totaling over 50,900 megawatts, divided into 9,100 megawatts of CCGT, 300 megawatts of SMR, 24,300 megawatts of solar, 2,700 megawatts of wind, and 14,500 megawatts of BESS. SSP previously won FiT projects for 2022 to 2030 totaling 170.5 megawatts and currently has about 420 megawatts of projects in hand, including solar in Thailand and the Bago wind farm in the Philippines. It is preparing for commercial operation of two community waste-to-energy plants totaling 19.8 megawatts in the fourth quarter of 2026, with more than 146 megawatts of projects gradually coming online through 2030. The company aims to push its renewable energy generating capacity to 1,000 megawatts by 2032. The Securities and Exchange Commission has appointed Apisit Suksakorn as Assistant Secretary-General for the Digital Technology line, effective January 1, 2027, responsible for overseeing information technology risk, data management and analytics, and information technology. Meanwhile, Jintana Kingkaew, Deputy Managing Director of Siam Gas and Petrochemicals Public Company Limited, or SGP, received the Carbon Footprint for Organization, or CFO, certificate for the second consecutive year after the company began its carbon footprint assessment project in 2021.

Toyota Motor is broadening its hydrogen strategy with plans to launch a fuel-cell-powered Hilux in Europe in 2028, targeting corporate fleets and leasing companies rather than mainstream pickup buyers. The hydrogen Hilux is expected to deliver more than 400 kilometers of range and tow up to 2.5 metric tons, though Toyota has not yet disclosed pricing or full production specifications after first showing a prototype in Britain in 2023. Toyota will compete in the Dakar Rally beginning in January 2027 with a vehicle based on the hydrogen-powered Hilux to showcase durability and performance. The launch fits a broader commercial-vehicle expansion in which Toyota Professional is targeting 200,000 light commercial vehicle sales in Europe by 2030, roughly 20% above 2025 levels, while lifting market share to 8% from 6%. Separately, Toyota unveiled a next-generation hydrogen fuel-cell system for heavy-duty trucks, a 300-kilowatt system delivering twice the output and durability of its predecessor while improving fuel efficiency by 20%, which it plans to supply to Scania and Iveco for pilot programs.

Prime Minister Anutin Charnvirakul presided over and delivered the opening address at Gastech 2026 on 14 September 2026, declaring that Thailand is ready to step up as a regional energy hub and to welcome investment and innovation from around the world. Energy Minister Ekkanat Promphan attended, along with policymakers, executives, experts and investors from leading companies in more than 150 countries worldwide. Anutin said the government gives top priority to raising the country's competitiveness through clear regulations, reliable infrastructure and support for clean energy technology, aiming for an energy future that balances energy security, affordable prices and sustainability. Ekkanat said the Ministry of Energy is a co-host of the global Gastech 2026 conference, bringing one of the world's most influential energy discussion platforms back to Southeast Asia for the first time since 2008, with former British Prime Minister Tony Blair also taking part. Thailand has set out its stance of pursuing a net zero emissions target by 2050, driven by low-carbon technologies including hydrogen, ammonia and carbon capture and storage, or CCS, through the CCS pilot project at the Arthit natural gas field, which has just passed its final investment decision, making it the country's first such project and paving the way for the development of a carbon capture and storage hub in the eastern region.

Viking Holdings announced on Friday that its Viking Astrea hydrogen-powered cruise ship has been floated out at Fincantieri's Ancona shipyard in Italy, moving the vessel into water for the first time for final construction and interior outfitting. Delivery is planned for May 2027, followed by the ship's first Mediterranean and Northern Europe season. The Astrea is intended to be Viking's second hydrogen-powered cruise ship capable of zero-emission operation, using a hybrid propulsion system built partly around liquefied hydrogen and fuel cells with up to six megawatts of output, which the cruise line operator said could let the vessel operate in environmentally sensitive areas without exhaust emissions during that mode. Sister ship Viking Libra, the first such hydrogen-capable cruise ship, is scheduled for delivery in November. Viking is the only major cruise operator currently confirmed to be bringing hydrogen-powered cruise ships into service.

Bloom Energy reported record quarterly revenue of $1.07 billion, surpassing the $1 billion milestone for the first time and marking a 166% year-over-year increase, driven by soaring demand for its solid-oxide fuel cell systems from major U.S. hyperscalers and AI data center operators seeking reliable on-site power. The results arrive as the AI spending race accelerated in the Q2 earnings season, with Microsoft, Amazon, Alphabet and Meta reporting roughly $170 billion in capital expenditures: Microsoft reported $41 billion of CapEx, Alphabet spent $44.9 billion and raised its full-year CapEx forecast, Meta deployed $31.1 billion while maintaining its outlook, and Amazon led the group with $54.2 billion in property and equipment purchases. Bloom Energy is also set to join the S&P 500 in the next quarterly rebalancing near the end of September, a major positive for the stock's near-term action as index funds adjust their portfolios around the rebalance. The stock carries a Zacks Rank #1 (Strong Buy), with EPS expectations remaining on a bullish trajectory across the board.

Bloom Energy has introduced its Power Connect system, which could reduce on-site installation time for its solid oxide fuel cells by more than 40%. The system shifts complex wiring and integration work from the field into Bloom's own factories, pre-wiring, pre-connecting, and fully testing units before delivery, cutting deployment times to just one to two months. Bloom's SOFC systems, which convert natural gas, biogas, propane, and hydrogen into electricity without combustion, are already used by data center operators including Oracle, CoreWeave, Nebius, and Equinix, and Brookfield Asset Management funds their development and deployment through a $25 billion partnership. Bloom's backlog swelled to $20 billion at the end of 2025, ten times the $2.0 billion in revenue it generated that year, and analysts expect revenue to more than double to $4.1 billion this year, then grow 65% to $6.8 billion in 2027 and 46% to $9.9 billion in 2028. With a market cap of $79 billion, Bloom trades at 19 times this year's sales, a premium the company's SOFC market dominance, massive backlog, and Power Connect upgrade could justify.

Nel ASA has entered into a framework agreement with Hydrasun to establish dedicated assembly and integration capabilities in Europe for the MC Series, Nel's modular and scalable PEM technology platform. Under the agreement, Hydrasun will procure, integrate and manufacture the balance of plant systems surrounding the electrolyser stack, enabling delivery of a fully integrated, modular and containerized electrolyser offering, while stack production continues at Nel's Wallingford, Connecticut facility in the US. The partnership gives Nel an experienced European integration partner alongside its existing integration setup in the US, expanding manufacturing flexibility and supply chain resilience and bringing production closer to key growth markets. Hydrasun's initiative is supported by the Scottish Government's Just Transition Fund and will see the company invest in and upgrade its Aberdeen facilities, with the potential to create up to 12 new jobs while safeguarding a further 11 existing roles. James Gaskell, Chief Executive at Hydrasun, called the agreement a defining moment in the company's evolution and said establishing Scotland's first electrolyser assembly and integration facility is a proud milestone, while Tushar Ghuwalewala, SVP PEM Operations at Nel, said the collaboration enhances Nel's ability to serve key markets with greater flexibility and scalability across its production network.

FuelCell Energy reported third-quarter fiscal 2026 results, with total revenue of $33 million, a 29% decline from $46.7 million in the prior-year quarter, and a net loss of $45.3 million, or $0.64 per share, compared to a net loss of $91.9 million, or $3.78 per share, a year earlier. The company ended the quarter with $737.3 million in total cash, its strongest cash position ever, and increased its combined committed and awarded capacity backlog to $3.6 billion, including $1.3 billion in committed backlog and $2.4 billion in awarded capacity backlog. During the quarter, FuelCell Energy secured its first order for FuelCell Energy Blocks for data center applications under a capital equipment purchase agreement with Fit Energy covering up to 380 megawatts across four phases, with an initial 30-megawatt phase expected to begin delivering in the fourth quarter. Subsequent to quarter end, the company closed a 75-megawatt capacity reservation agreement with a major co-location data center operator for a Texas project. The company also delivered the first two carbon capture modules to ExxonMobil's Rotterdam complex, marking the world's first industrial-scale demonstration of its jointly developed carbon capture technology. FuelCell Energy is targeting positive adjusted EBITDA in the fourth quarter of fiscal 2027, supported by plans to increase annualized production to 100 megawatts by October 2026 and to 500 megawatts by June 2028.

The Thai government, together with major energy and industrial players such as PTT, SCG, and Thai Airways, is accelerating its carbon neutrality (Net Zero) target to 2050, earlier than the original 2065. It is also moving forward with the draft Climate Change Act, which will impose a carbon tax on upstream products and establish an emissions trading system (ETS), expected to take effect in the third quarter of 2027. Thailand needs at least 2 trillion baht in funding to support climate investments, while the World Bank warns that delays could cause Thailand's GDP to contract by 7-14% by 2050. Meanwhile, PTT plans to invest at least 5 billion US dollars in the iSPARK and CCS Hub projects in the Map Ta Phut area, aiming to reduce carbon emissions by at least 9 million tonnes per year by 2035 and create over 10,000 new jobs.

Toyota Motor is considering using hydrogen as an energy source for trucks that transport auto parts, following rising oil prices and energy supply pressures due to the conflict with Iran. Vice Chairman Koji Sato revealed that in the long term, hydrogen use could be expanded to power factories and the logistics networks of suppliers. The plan is part of Toyota's commitment as a member of the Japan Hydrogen Association to push hydrogen to account for 1% of all logistics, fuel, and raw material transportation. Currently, 67 companies and organizations have joined. Meanwhile, global investment in clean hydrogen projects exceeds $110 billion as of July 2025, up $35 billion from the previous year. However, hydrogen vehicle adoption in Japan remains far below targets, with fewer than 8,300 hydrogen fuel cell vehicles on the road as of March 2025, compared to a target of 200,000 by 2025. Sato, who also serves as chairman of the Japan Automobile Manufacturers Association (JAMA), is also pushing for common parts standards among automakers to reduce costs and improve efficiency amid intense competition from Chinese brands and trade protectionist policies.

South Korea's Ministry of Trade, Industry and Energy announced on the 4th that four U.S. companies have decided to invest a total of $2 billion in South Korea in the fields of semiconductors, advanced materials, and energy. The investments were announced at a ceremony attended by Trade Minister Cheong In-kyo in Washington on the 3rd. U.S. industrial gas giant Air Products will expand facilities for semiconductor gases and rare gases in Pyeongtaek, Gyeonggi Province, and semiconductor equipment maker Axcelis will expand its production of ion implantation equipment in South Korea. Additionally, materials giant Corning will invest in advanced glass and other materials used in displays and semiconductors, and renewable energy developer Pacifico Energy will proceed with a 3.2-gigawatt offshore wind power project in the southwest, where a new semiconductor cluster is expected to be established.

KBR, Inc. has secured a front-end engineering design contract for the Live Oak consortium's proposed large-scale electric natural gas project in Norfolk, Nebraska, expanding its low-carbon project pipeline. The facility will combine renewable hydrogen, generated via approximately 250 megawatts of water electrolysis, with biogenic carbon dioxide to produce e-NG, which is chemically identical to conventional natural gas and can use existing LNG infrastructure. Subject to a final investment decision in 2027, commercial operations are slated for 2030, with exports planned to Japan. The award adds to KBR's Sustainable Technology Solutions portfolio, which saw second-quarter fiscal 2026 revenues rise 10% year over year to $676 million, with backlog at a record $5.5 billion and a book-to-bill of 1.5x. KBR's stock declined 1.4% following the announcement, though it has gained 5% over the past three months, outperforming its industry's 15.3% fall.