A couple of years ago SP was very bouyant. Something like the POSCO Ann would have sent us FLYING!
The difference now is the investment environment has changed.
The macro issue is interest rates, but also at an industry level we've seen a slower rollout of H2 projects than anticipated. This has damaged investor appetite for large Capex developers which is still the business model.... for now.
Glenn is smart to go for the existing H2 market rather than the projected....
He's smart to go for the capital lite model too and let the customers fund the plants.
He will get us there I feel......
But it's going to take A LOT longer than I thought.
Hydrogen News, page-6342
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