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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  DFDS A/S    DFDS   DK0060655629


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DFDS and Partners to Develop Hydrogen-Powered Ferry

11/26/2020 | 05:40am EST

By Dominic Chopping

Danish ferry operator DFDS A/S said Thursday that the company and its partners have applied for EU support to develop a ferry powered by electricity from a hydrogen fuel cell system which only emits water.

DFDS, ABB Ltd, Ballard Power Systems Europe, Hexagon Purus, Lloyd's Register, Knud E. Hansen, Oersted A/S and Danish Ship Finance have all partnered to develop a 100% hydrogen-powered ferry, initially for DFDS's Oslo-Frederikshavn-Copenhagen route.

A hydrogen fuel cell system that can produce up to 23 megawatts will be needed to propel the ferry, DFDS added.

"The largest fuel cell systems today produce only 1-5 megawatts, and the development of such large-scale fuel cell installations for an electric ferry is a monumental task," DFDS Chief Executive Torben Carlsen said.

"Together, we expect to be able to make these fuel types and technologies commercially viable."

The hydrogen will be produced locally in Greater Copenhagen based on offshore wind, and the project will investigate how to optimally integrate with the local energy system, it said.

If the project develops as projected, DFDS said the ferry could be in full operation as early as 2027.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

11-26-20 0539ET

Stocks mentioned in the article
ChangeLast1st jan.
ABB LTD 0.71% 26.78 Delayed Quote.7.61%
BALLARD POWER SYSTEMS INC. 5.08% 47.37 Delayed Quote.51.38%
DFDS A/S 1.14% 265.2 Delayed Quote.-4.72%
HEXAGON AB -0.03% 761.6 Delayed Quote.1.60%
ORSTED A/S -2.57% 1212 Delayed Quote.0.04%
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Sales 2020 13 856 M 2 258 M 2 258 M
Net income 2020 456 M 74,4 M 74,4 M
Net Debt 2020 11 979 M 1 952 M 1 952 M
P/E ratio 2020 33,1x
Yield 2020 0,51%
Capitalization 15 001 M 2 446 M 2 445 M
EV / Sales 2020 1,95x
EV / Sales 2021 1,70x
Nbr of Employees 8 600
Free-Float 56,4%
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Technical analysis trends DFDS A/S
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 298,33 DKK
Last Close Price 262,20 DKK
Spread / Highest target 14,4%
Spread / Average Target 13,8%
Spread / Lowest Target 12,5%
EPS Revisions
Managers and Directors
Torben Carlsen Chief Executive Officer
Claus Michael Hemmingsen Chairman & Deputy Chief Executive Officer
Karina Kjær Deacon Group Chief Financial Officer
Rune Keldsen Chief Technology Officer & Executive VP
Jill Lauritzen Melby Director