!

Starting June 1st, 2023 Our warehouse fee will be $0.65/cubic foot per month

In effort to lower the warehouse storage fee during inflation, we have went narrow aisle racking.This construction took us four months but the project is finally completed. With narrow aisle racking, we are able to drop storage by 24%.We as partners will go through this inflation together.

Starting June 1st, 2023 Our warehouse fee will be $0.65/cubic foot per month

In effort to lower the warehouse storage fee during inflation, we have went narrow aisle racking.This construction took us four months but the project is finally completed. With narrow aisle racking, we are able to drop storage by 24%.We as partners will go through this inflation together.

Blogs/hot-news

03/07/2023

433 views

The future of fuel: CERAWeek explores potential of hydrogen

    The future of fuel: CERAWeek explores potential of hydrogen

    From left to right: Eleonor Kramarz, VP, S&P Global; Bill Newsom, Mitsubishi Poswer Americas; Andy Marsh, Plug Power; Justin Bird, Sempra Infrastructure; Andrew Flanagan, RWE. (Photo: Jim Allen)

    Hydrogen appears to be the consensus energy source that could power a Class 8 heavy-duty truck, so the increasing focus on hydrogen within the energy industry could be positive for the heavy-duty trucking industry. 

    At the CERAWeek by S&P Global meeting in Houston, numerous hydrogen-related presentations were given. A $3 per kilogram tax credit for green hydrogen was the a generous component of the Inflation Reduction Act (IRA), which President Biden signed into law in August.

    Andy Marsh, president and CEO of Plug Power, expressed his optimism by saying, "We will never be successful if we do not succeed this time. The level of support is enormous". Marsh stated that, with the tax credit, hydrogen produced from low-emission fuels such as solar-generated electricity can be produced at a lower cost than "gray hydrogen," which is produced through a process fueled by natural gas.

    CEO of hydrogen producer Linde, Sanjiv Lamba, dismissed the rainbow colors of hydrogen as "misleading and erroneous," stating that hydrogen should be considered a "low-carbon intensity fuel, not the colors." Transportation was mentioned infrequently compared to electricity generation and various industrial applications when discussing hydrogen.

    As a point of reference for the volatility of hydrogen prices, S&P Global reported that Gulf Coast hydrogen produced by the gray process had a production cost of $1.27 per gallon in December, whereas the price in California was $13.79 per kilogram due to rising natural gas prices caused by the cold December weather.

    Amazon's Vice President of Engineering, Bill Vass, recently stated that the company aims to make hydrogen a more affordable alternative to diesel in the future. Unfortunately, certain "buy American" rules under the Inflation Reduction Act (IRA) have caused worry among European nations as they may not comply with World Trade Organization regulations.

    These aspects of the IRA, according to Andrew Flanagan, chief development officer of RWE Clean Energy, have "created a lot of concern" in Europe, but "it will ultimately force change, and the industry will have to adapt."

    During a panel on hydrogen's growth rate, Bill Newsom, president and CEO of Mitsubishi Power Americas, suggested that the power sector will likely be the first recipient of the IRA's increased hydrogen supply. Additionally, he suggested that hydrogen exports will be a significant opportunity, particularly in countries that lack the resources to decarbonize independently.

    The CEO of Sempra Infrastructure, Justin Bird, compared the potential growth of hydrogen to that of liquefied natural gas (LNG) in the United States and stated that "clean molecules" present a greater opportunity than LNG.

    More than $500 million was loaned to Newsom's company in order to construct a hydrogen production facility in Utah that produces green hydrogen. This facility will serve as a model for what is required for hydrogen to flourish. In the meantime, Meghan Nutting, executive vice president at Sunnova, stated that other nations are "so concerned about the IRA that they are examining a vast array of proposals."

    Joseph Majkut, director of energy security and climate change at the Center for Strategic and International Studies, raised the possibility of a "clean energy arms race" as a result of the dissatisfaction of other nations with certain IRA provisions.

    Harley Nguyen

    More blogs like this: