Elsewhere, Shanghai is taking steps to promote hydrogen vehicles, with a plan to get 10,000 cars on the road by 2023. Just this week, Sinopec has flagged its intention to include hydrogen in retail fuel stations, while top vehicle-maker SAIC Motor said it’s accelerating its push into the alternative energy source.
And also in the news, Cargill has bought a new soy-processing plant in China as the nation’s pig herd recovers from the ravages of swine fever. Hog numbers expanded for the seventh consecutive month in August, signaling growing confidence among breeders, according to the farm ministry.
Hydrogen is the market which has long been promised but never really made it into commercial reality. The question today is whether all the good will in terms of investment in renewables and technological innovation can translate into reducing the cost of production to economic levels. The low price of natural gas is a big enabler but the green lobby won’t be happy until the process is fossil fuel free.
This report from Jeffries may be of interest. Here is a section: