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Toyota to Construct Megawatt-Scale Fuel Cell Power Plant
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Toyota Motor Corporation (TM - Free Report) said that it will be constructing the world's first megawatt-scale carbonate fuel cell power generation plant at the Port of Long Beach. This facility will also house a hydrogen fueling station to assist the plant’s operations at the port.
Bio-wastes from California agricultural waste will be used to generate water, electricity and hydrogen at the facility, to be known as Tri-Gen.
Once it comes online in 2020, Tri-Gen will generate roughly 2.35 megawatts of electricity and 1.2 tons of hydrogen per day, capable enough to power about 2,350 average-sized homes and meet the daily needs of almost 1,500 vehicles.
The renewable power generation plant will be supplying fuel to the company’s Toyota Logistics Services' (TLS) operations at the port, making it the first facility of Toyota in North America to use 100% renewable energy.
The facility will also provide supply lines to the company’s fuel cell vehicles (FCVs) that will move through the port, including the new Mirai sedan and Toyota's Heavy Duty hydrogen fuel cell class 8 truck known as, Project Portal. Additionally, the hydrogen fueling station at the facility will aid the refueling operations.
The Tri-Gen facility has been developed by FuelCell Energy with assistance from the U.S. Department of Energy, California agencies including the California Air Resources Board, South Coast Air Quality Management District, Orange County Sanitation District and the University of California at Irvine. The core technology has been developed by University of California.
This facility development in California is in line with Toyota’s plans to widen and unleash FCVs in full capacity in the United States. The company has been collaborating with various partners to popularize FCVs, the recent being in February, wherein Toyota announced its collaboration with Royal Dutch Shell to construct seven fueling stations for hydrogen vehicles in California.
Price Performance
In the last six months, shares of Toyota have outperformed the industry it belongs to. The stock has rallied 15.5% compared with the industry’s 15% gain during the period.
American Transmission has an expected long-term growth rate of 10%. In the last three months, shares of the company have been up 17.1%.
American Axle has an expected long-term growth rate of 8.1%. In the last three months, shares of the company have been up 17.2%.
Navistar has an expected long-term growth rate of 5%. Its shares have been up 58.1% in the last six months.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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Toyota to Construct Megawatt-Scale Fuel Cell Power Plant
Toyota Motor Corporation (TM - Free Report) said that it will be constructing the world's first megawatt-scale carbonate fuel cell power generation plant at the Port of Long Beach. This facility will also house a hydrogen fueling station to assist the plant’s operations at the port.
Bio-wastes from California agricultural waste will be used to generate water, electricity and hydrogen at the facility, to be known as Tri-Gen.
Once it comes online in 2020, Tri-Gen will generate roughly 2.35 megawatts of electricity and 1.2 tons of hydrogen per day, capable enough to power about 2,350 average-sized homes and meet the daily needs of almost 1,500 vehicles.
Toyota Motor Corp Ltd Ord Price and Consensus
Toyota Motor Corp Ltd Ord Price and Consensus | Toyota Motor Corp Ltd Ord Quote
The renewable power generation plant will be supplying fuel to the company’s Toyota Logistics Services' (TLS) operations at the port, making it the first facility of Toyota in North America to use 100% renewable energy.
The facility will also provide supply lines to the company’s fuel cell vehicles (FCVs) that will move through the port, including the new Mirai sedan and Toyota's Heavy Duty hydrogen fuel cell class 8 truck known as, Project Portal. Additionally, the hydrogen fueling station at the facility will aid the refueling operations.
The Tri-Gen facility has been developed by FuelCell Energy with assistance from the U.S. Department of Energy, California agencies including the California Air Resources Board, South Coast Air Quality Management District, Orange County Sanitation District and the University of California at Irvine. The core technology has been developed by University of California.
This facility development in California is in line with Toyota’s plans to widen and unleash FCVs in full capacity in the United States. The company has been collaborating with various partners to popularize FCVs, the recent being in February, wherein Toyota announced its collaboration with Royal Dutch Shell to construct seven fueling stations for hydrogen vehicles in California.
Price Performance
In the last six months, shares of Toyota have outperformed the industry it belongs to. The stock has rallied 15.5% compared with the industry’s 15% gain during the period.
Zacks Rank & Other Key Picks
Toyota flaunts a Zacks Rank #1 (Strong Buy).
Other top-ranked stocks in the auto space are American Transmission Holdings, Inc. (ALSN - Free Report) , American Axle & Manufacturing Holdings, Inc. (AXL - Free Report) and Navistar International Corporation , all sporting a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
American Transmission has an expected long-term growth rate of 10%. In the last three months, shares of the company have been up 17.1%.
American Axle has an expected long-term growth rate of 8.1%. In the last three months, shares of the company have been up 17.2%.
Navistar has an expected long-term growth rate of 5%. Its shares have been up 58.1% in the last six months.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>