The increasing demand for clean energy sources and the development of environmental-friendly urban transport systems in developed countries had been driving the impressive growth of the fuel cell industry. In the next seven years, the entire market is expected to rise by CARG of 56% and hit a $24.8bn value.
The increasing awareness about carbon emissions and the efforts taken to maximize sustainable energy use has also boosted the growth of the companies operating in this sector.
According to data presented by Stock Apps, the combined market capitalization of Plug Power, Ballard Power and Bloom Energy, as the top three fuel cell companies, soared by 550% year-over-year and hit $20.8bn in December.
Plug Power Market Cap Soared by 1283% YoY
Fuel cell technology plays a huge role in dealing with environmental issues and encouraging the use of renewable energy carriers by minimizing the emission of carbon dioxide or any other hazardous pollutants.
As the market leader, Plug Power Inc. witnessed the most impressive market cap growth in 2020. In December 2019, the combined value of stocks of the US company specialized in converting battery-powered equipment to hydrogen-generated fuel sources amounted to $950 million, revealed the Yahoo Finance data. By the end of the first quarter of 2020, the company hit the one-billion benchmark, despite the COVID-19 crisis.
In the next three months, the Plug Power market cap almost tripled and hit $2.7bn. The strong increasing trend continued in the third quarter, with the combined value of stocks surging to $5.2bn in September, a 450% jump in nine months.
However, statistics indicate the US fuel cell producer’s stock price exploded in the fourth quarter, with the market cap rising by almost $8bn in the last three months. Last week, Plug Power market capitalization stood at $13.1bn, a 1283% jump year-over-year.
Bloom Energy Market Cap Jumped by 377% YoY, Ballard Power Follows with a 223% Increase
As the second-largest fuel cell company by market cap, Ballard Power Systems has also witnessed an impressive stock price growth this year.
The fundamental technology that makes hydrogen power work is called a proton exchange membrane, which utilizes hydrogen and oxygen in an electrochemical reaction. The Canadian company is specialized in developing and manufacturing proton exchange membrane (PEM) fuel cell products for markets like heavy-duty motive applications, portable power, material handling, and engineering services.
Statistics show the Ballard Power Systems market cap surged by 223% year-over-year, rising from $1.6bn in December 2019 to $5.3bn last week.
As the third-largest company operating in the fuel cell market, Bloom Energy Corporation has also witnessed a three-digit market cap growth in 2020. The California-based company raised more than $1 bn in venture capital funding before going public in 2018. Its unique selling point is a fuel cell that allows its industrial-sized generators to run on natural gas, biogas, or hydrogen without combustion.
In December 2019, the combined value of stocks of the third-largest fuel cell technology producer stood at $900 million. By the end of June, this figure rose to $1.36bn and continued growing. Statistics show that Bloom Energy’s market cap stood at $4.3bn last week, a 377% jump in a year.
Nintendo Switch witnessed an influx of new fans in 2020, as the COVID-19 pandemic continues fuelling the growth of the entire console gaming market.
With millions of people spending more time playing video games amid lockdown, the popular gaming console hit a new record in the number of sold units.
According to data presented by Safe Betting Sites, Nintendo shipped 21.1 million Switch consoles since the beginning of 2020, double than PlayStation 4 and Xbox One combined.
Nintendo Switch Lifetime Unit Sales Hit 70.9 Million in November
In its first year, the hybrid handheld and stationary console sold 13.1 million units worldwide, revealed VGChartz data. Sales continued booming in the following years, with Nintendo selling almost 40 million Switch units in 2018 and 2019. By the end of last year, the Nintendo Switch had sold 49.8 million units across its lifetime, surpassing the sales of its close rival, Microsoft’s Xbox One.
However, statistics show Nintendo Switch sales boomed in 2020, with almost 4 million units sold in the first quarter, a 60% jump in a year.
The impressive sales growth continued in the second quarter of 2020, as Nintendo sold another 5.6 million of its Switch consoles, 160% more than the same period a year ago. The VGChartz data revealed another 11.6 million units were sold since June, with the lifetime sales reaching 70.9 million in November.
Cumulative unit sales of Sony PlayStation 4 consoles worldwide from August 2014 to November 2020 (in million units)
Lifetime unit sales of the Nintendo Switch console worldwide from March 2017 to November 2020 (in millions)
PlayStation 4 ranked as the second most popular gaming console in 2020 with 8.3 million sold units between January and November, 2.5 times less than Nintendo Switch. Statistics also show that PS4 annual sales dropped 37% year-over-year, down from 13.3 million sold units in 2019.
However, Sony’s gaming console still dominates in terms of lifetime unit sales. In the first three years after its launch in 2013, Sony sold 35.9 million PlayStation 4 units. By December 2017, this figure surged to 73.6 million. Statistics show another 40.6 million consoles were sold worldwide in the last three years, with the cumulative sales of Sony’s gaming console rising to 114.2 million in November.
Xbox One sold 2.7 million units in 2020, with its lifetime sales reaching 48.7 million last month. Almost 65% of that number, or 31.5 million consoles, were sold in North America as the leading market. Europe ranked as the second-largest Xbox One market with almost 12.2 million sold units.
Mario Kart 8 Delux hit 26.8 Million Sold Units
One of the key reasons for the Switch’s success is the popularity of Nintendo’s first-party titles. Blockbuster series like Mario, The Legend of Zelda, and Pokémon are exclusive to Nintendo, meaning that fans can only play them on Nintendo consoles.
With almost 26.8 million sold units, Mario Kart 8 Delux ranked as the top-selling Nintendo Switch game. Animal Crossing: New Horizons ranked second with 22.4 million in total sales. Super Smash Bros. Ultimate, The Legend of Zelda: Breath of the Wild and Pokémon Sword/Pokémon Shield follows with 19.9 million, 18.6 million, and 18.2 million in unit sales, respectively.
Minister of Interior, Ogbeni Rauf Adesoji Aregbesola, who made the declaration on behalf of the Federal Government, felicitated with Christians and all Nigerians both at home and abroad on this year’s Christmas and New Year Celebrations.
Aregbesola urged Christians to adopt the creed of Christ on faith, hope and love.
“We must emulate the life of humility, service, compassion, patience, peace and righteousness that the birth and ministry of Jesus Christ signified, that will be the best way to know Christ and celebrate his birth”, he said.
He noted that peace and security are critical factors needed to enable Government to accomplish its mission of revitalizing the economy, improving Foreign Direct Investment as well as generating employment opportunities for over 100 million Nigerian youths in the next 10 years.
Aregbesola advised Nigerians and Christians in particular, to adhere strictly to the Covid-19 protocols and guidelines, as stipulated by relevant authorities, during and after the yuletide, especially with the second wave of the outbreak of the disease.
The Minister who reiterated FG’s commitment to the fight against banditry, kidnappings & other crimes and criminalities in the country, called on Nigerians to support the efforts of the security agencies by providing them with information that will enhance intelligence gathering.
While admonishing all Nigerians to remain focused, determined, patient and patriotic, Aregbesola expressed confidence that the year 2021 would be a better year for all Nigerians and therefore urged Christians to use the period to pray for Nigeria.
He wished all Nigerians and Christians in particular, a happy Christmas and New Year Celebrations.
The management of United Capital Plc has disclosed that Emanuel Nnorom/Vine Foods Limited 2, a related company, purchased ordinary shares of 255,000 units at N4.70 per share on December 21, 2020.
In a statement signed by Leo Okafor, Company Secretary and released through the Nigerian Stock Exchange (NSE), United Capital Plc said the transaction took place at the Nigerian Stock Exchange in Lagos, Nigeria.
See the details of Emanuel Nnorom transaction below.
The Nigerian Stock Exchange (NSE or The Exchange) is pleased to announce the launch of X-PO, an online platform for the subscription of public offerings (POs) on Friday, December 18, 2020, following the “No Objection” letter received from the Securities and Exchange Commission (SEC).
The X-PO, the first end-to-end online public offerings platform in Africa, is designed to enhance the experiences of stakeholders in the public offerings value chain, by providing a smarter and efficient way to manage public offers in the Nigerian capital market.
NSE Enhances its Fixed Income Securities Market Segment and Revises its Trading Fee | www.brandspurng.com
As a self-service portal, X-PO allows investors to conveniently subscribe and make payments for public offers through the web and mobile (USSD), avoiding the hassle of physical completion and submission of public offering applications forms and visiting the bank for payment.
“The launch of the X-PO platform reinforces The Exchange’s commitment to revolutionise stakeholders’ experience in the Nigerian capital market leveraging technology. The X-PO has been designed to enhance the efficiency of PO subscription process and operational workflow to support Issuers in raising capital and enhance the reach of POs while promoting financial inclusion and retail investors’ participation in the market.
Furthermore, X-PO will accelerate the reconciliation and allotment process for POs, as well as reduce the incidence of unclaimed dividends, thereby boosting investor confidence in the capital market.”
The Exchange will continue to innovate and adapt to new technologies that will not only help companies improve operational efficiency, but also enhance corporate governance which is paramount for sustainable business operations.
“The launch of the X-PO is particularly timely given the new normal occasioned by the COVID-19 pandemic. The platform’s sustainable approach affirms NSE’s commitment to deploying environmentally friendly business practices and promoting paperless public offer subscriptions.
We have also taken into consideration the vital need for privacy and data protection, deploying the highest levels of security to ensure that stakeholders can enjoy a safe and secure digital public offering experience,”Mr. Onyema further stated.
Players within the capital market – investors, registrars, issuing houses, brokers, banks, and regulators – can expect to enjoy a wide range of benefits with the launch of X-PO.
LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces the appointment of SP Angel Corporate Finance LLP as its nominated adviser with immediate effect. SP Angel will also continue to act as the Company’s joint broker alongside Mirabaud Securities Limited.
The Company’s shares have been suspended since 23 November 2020 due to the resignation of the Company’s previous nominated adviser. Following the appointment of SP Angel, restoration of trading in the Company’s shares will take effect from 7.30 am on 23 December 2020.
SP Angel supports clients with a full range of expertise and services covering ongoing regulatory advice, IPOs and secondary placings, M&A transactions and corporate structuring.
With an established reputation for market reach and successful execution of mandates, SP Angel has a strong track record across many key sectors including, Mining, Oil & Gas, Healthcare, Technology and Special Situations. The long-term client relationships SP Angel develop enable us to partner with its clients to help drive the growth of the businesses through rapidly changing market conditions.
SP Angel is a Member of the London Stock Exchange, an AIM Nominated Adviser and Broker and a NEX Exchange Corporate Adviser and is authorised and regulated by the Financial Conduct Authority (FCA).
LEKOIL’s African activities are centralised through a group holding company structure based in the Cayman Islands.
The Nigerian Naira has lost close to 30% in value within the last one year, and more than 200% in the last 10 years. The situation has led to a spike in capital outflow, high unemployment, the alarming rate of inflation and other direct and indirect consequences associated with exchange rate crisis.
While greater attention has been placed on COVID-19 as the root cause of the diverse economic challenges this year, the current FX situationshould be looked at from diverse perspectives; primarily, the existing structural and policy challenges that have been limiting the country’s FX earnings over the years and also the COVID-19 induced shock on global energy demand.
Afolabi Sotunde Illustration Naira
The COVID-19 Effect
Earlier this year, as a result of restrictions imposed by countries when COVID-19 was declared a global pandemic, the fall in global energy demand put pressure on the oil price and we saw Brent down by about 57% closing below $20 per barrel.
Nigeria, an oil-dependent country with over 81% export earnings from oil, had earlier benchmarked the oil price at $60pb in the 2020 budget with daily production estimated at 2.18mn barrels per day.
The oil crisis forced a review of the oil benchmark to $28 per barrel. Consequently, the Nigerian government oil export between January and May contracted by about 77%. This put pressure on the FX reserve and led to the first devaluation of the year despite the $3.4bn loans from the IMF.
The official exchange rate was reviewed from N306/$ to N360/$, while sales to the BDC was pegged at N379/$ and then followed by suspension of FX sales to the BDC with limited intervention across different FX windows.
Is COVID-19 the Main Factor behind the current FX Crisis?
While we can’t neglect the adverse impact of COVID-19, a look at the country’s trade account last year shows that the country started a trade deficit run from Q4-2019 despite the moderately buoyant oil price in the year.
From a N2.4trn trade surplus as of the 3rd quarter of 2019, the country recorded a trade deficit of about N500bn in the 4th quarter. Similarly, from the latest 3rd quarter trade data released by the NBS recently, the country recorded a N4.6tn trade deficit within the first 9 months of this year.
Even with the COVID-19 restrictions on international trade, the country still recorded a 19% growth in imports despite a 37% and 38% decrease in crude oil and non-oil export respectively. This tells of the overarching consequences of structural inadequacy that has been limiting domestic production and thereby leading to a trade deficit with unnecessary pressure on the currency.
Despite the various intervention into the agriculture sector via the CBN Anchor Borrowers Program (ABP) and other development finance initiatives, the import of agricultural goods still increased by a whopping 109% compared to Q2-2020 with agricultural export dropping by 21% in Q3, 2020.
Dun & Bradstreet Hits Major Milestone with 400 Million Records Coverage in their Global Database
The global business intelligence leader announces that it has extended its global database to 400 million records.
This increase in its Global coverage, the highest ever achieved by a business information provider, translates into an enhanced level of service for its customers, providing access to a wide range of insights and analytics.
The company’s philosophy of helping businesses achieve excellence by adopting a scientific, data-based decision-making approach has resulted in more transparent and dynamic markets all across the world.
‘’Reaching a coverage of 400 million companies is a major milestone to maintain our market leadership and help us continue to be a critical partner for companies worldwide for making the best business decisions. We will continue to progress and lead the market in terms of quality and analytics’’,said Sebastian Sanchez, Product Manager of Dun & Bradstreet South Asia Middle East Ltd.
These 400 million records include information such as:
Identification and Contact Data
Marketing Information
Company Financials, which includes Financial Ratios
Media
Litigations
Management
Ownership and Corporate Linkages
Predictive Analytics
Activity and Industry Information
Employees
Registry Information
Sanctions
This critical information for companies will enable better business decisions driven by facts and data and help in the following areas:
Sales and marketing
Financial risk analysis
Commercial credit
Anti-money laundering and fraud prevention
Strategic analysis
”We are fully dedicated to up growing the number of companies in each of our regions. We take special care in maintaining the highest standards of quality to offer reliable information to our customers’’, Ali Arab, Head of Data and Content Intelligence – South Asia Middle East and Africa.
Dun & Bradstreet data and insights help improve business performance. The market-leading solutions for data and insights are a critical factor to drive revenue acceleration, manage risk, lower cost and business transformation. Global businesses of all sizes rely on D&B’s data, insights & analytics.
Airbags became an elementary feature of the integral safety concept of Mercedes-Benz
Airbags and other safety systems have saved the lives of many people
The innovation made its preview in December 1980: the driver’s airbag and seat belt tensioner (originally termed the belt tightener) were in those days the latest, cutting-edge innovations in safety from Mercedes-Benz.
Sequence showing the functioning of steering-wheel airbag and seat belt tensioner in 1981. The systems enjoyed their world premiere in the Mercedes-Benz S-Class of the 126 model series. The first vehicles were delivered to customers in December 1980. The brand showcased the systems at the Amsterdam International Motor Show in February 1981.
40 years ago, back in 1980, a limited number of S-Class Sedans (126 model series) were the first cars to be delivered with this new technology and were another milestone for passive vehicle safety in a long line of outstanding innovations from the brand. The airbag was a joint development between the then Daimler-Benz AG and Bosch.
More than 100 S-Class vehicles fitted with the new safety systems rolled off the assembly line in January and February 1981. This ushered in the triumph of a restraint system which was quickly adopted by many automotive manufacturers across the world.
126 model series Mercedes-Benz S-Class Saloon (1979 to 1992). Studio photo (side view, right) of a Mercedes-Benz 500 SEL produced in 1982. | www.brandspurng.com
The restraint system celebrated its world premiere at the Amsterdam International Motor Show in February 1981. Just one month later, Mercedes-Benz presented the driver’s airbag and seat belt tensioner to the public at the Geneva Motor Show. The combination of both systems was initially only available for the S-Class and SEC Coupes as an optional extra costing DM 1,525.50.
Effective firing: The airbag and seat belt tensioner were soon available in 1982 as optional extras for all Mercedes-Benz passenger cars. By 1992, the driver’s airbag was standard equipment in all of the brand’s models, followed by a front passenger airbag as a standard safety feature in 1994.
Added protection for the front passenger: In 1987, Mercedes-Benz presented the front passenger airbag as an optional extra for the 126 model series S-Class. The safety system has been available since February 1988. | www.brandspurng.com
Numerous other airbags followed suit in subsequent years and these protective inflating cushions, fitted at various positions in the vehicle, have long since been an inherent part of the integral safety concept of Mercedes-Benz.
Minimizing the impact: The protective airbag inflates within a few milliseconds in front of the occupants. Sensors detect a particularly strong deceleration, for example, sudden braking in a severe head-on collision, and trigger the firing of a propellant charge.
The resulting gas mixture, which at the time of the airbag’s invention mainly consisted of nitrogen, inflates a cushion-shaped fabric cover – the airbag. It offers the best possible protection in combination with the seat belt, both deployed to gently cushion the upper body when it is thrown forward by the impact.
Parallel development: Four decades ago, Mercedes-Benz had another innovation up its sleeve with the seat belt. At the end of the 1980s, the brand launched the driver’s airbag together with the restraint system for the front passenger, at the time known as the “belt tightener.”
But by 1984, the seat belt tensioner, as this safety feature is now more commonly known, had already become standard equipment for the front seats of all Mercedes-Benz passenger cars. The seat belt tensioner reacts to the same sensor signal as the driver’s airbag, which is also triggered by controlled pyrotechnics: a propellant charge is fired to tighten the seat’s three-point seat belt within milliseconds.
This eliminates the typical slack between the occupant’s upper body and the seat belt and both drivers and front passenger are held firmly in the seat by the seat belt.
Chain of innovations: This development was to continue over the following years. From 1995, seat belt tensioners were combined with belt force limiters.
In 2002, engineers added an electronic seat belt tensioner to the pyrotechnical belt tensioner with the introduction of the preventive occupant protection system PRE- SAFE®. In contrast to the pyrotechnical seat belt tensioner, the electronic system is reversible: allowing the seat belt to be loosened again if no collision occurs.
The invention: The basic idea for the airbag was attributed, amongst others, to the hobby inventor, Walter Linderer. In the 1950s, he had designed what he described as an “inflatable container in a folded state, which automatically inflates in the event of danger.”
On October 6, 1951, the Munich-born inventor filed for a patent for his “device to protect persons in vehicles against injury in the event of collisions” from the German Patent Office. Although in his application Linderer precisely described the principle of an airbag, the technical requirements for the sensors as well as those for rapid gas generation simply did not exist in those days.
Conventional compressed air was not suitable for generating pressure because it took far too long to inflate the airbag. The elastic and extremely tear-resistant material required to make the airbag was also not available at the time.
This remained the case for some years. Mercedes-Benz returned to the idea of the airbag in 1966 and started the initial trials for effective gas generation in 1967. The patent for an “impact protection device for vehicle occupants” (Patent No: DE 21 52 902 C2) was filed by the then Daimler-Benz AG in October 1971.
Continual advancements: After approximately 250 crash tests, more than 2,500 sled tests and thousands of trials on individual components, the Mercedes-Benz safety engineers managed to bring the technology to series production maturity over the next fifteen years. “SRS airbag” was the abbreviation initially to be seen on the steering wheels of Mercedes-Benz models equipped with this technology.
SRS stands for “supplemental restraint system” because it supplements the seat belt, which is the primary restraint system. The impact absorbers in these steering wheels were voluminous in size because they had to accommodate a large fabric cover: when inflated, the first driver’s airbags had a volume of between 60 to 70 litres.
The same is true for the development of the front passenger airbag. When it was presented at the International Motor Show in Frankfurt/Main in 1987, it occupied the entire glove box.
Statistics: It is very difficult to calculate the positive effect individual systems and safety measures have had on accident statistics. Nonetheless, the figures released by the German Federal Statistical Office speak for themselves: In 1980, 15,050 people were killed on German roads (in both East and West Germany), 6,915 of them were occupants of passenger cars.
In 2000, the same figures fell to 7,503 and 4,396 fatalities respectively. Almost twenty years later: Germany recorded 3,046 road traffic victims in 2019, 1,346 of whom died in a passenger car. Owing to the fact that the number of vehicles on roads is continually rising, these figures are particularly impressive when compared to the number of traffic deaths per 10,000 vehicles. This figure was 4.5 in 1980 compared to 1.4 in 2000 and dropped to 0.5 in 2019.
Low in volume, high in safety: As airbag components became increasingly smaller over the years without compromising safety, it was possible to incorporate the airbag in other places inside the vehicle, apart from in the steering wheel or glove box.
This was what developers were striving for, because although the first airbags could minimize the impact of a head-on collision, there were many other potential accident scenarios. In 1995, the sidebag was launched in the 210 model series E-Class, the window airbag was added to the extensive protection system in 1998 with the head/thorax sidebag to follow in 2001, the knee airbag in 2009 and the thorax/pelvis sidebag, the cushion bag and the very compact inflatable belt airbag in 2013.
Launched in the S-Class of the 221 model series, the gas generators of “adaptive airbags” deployed in two stages depending on accident severity.
40 years later:
The 223 model series S-Class, which debuted in 2020, includes additional new airbags such as the rear airbags, which celebrated their world premiere this year. 40 years after the launch of the first-ever driver’s airbag, this new rear airbag uses a radically new inflation concept with a tubular structure, designed to deploy frontal airbags for both outer rear seats for the very first time.
In the event of severe head-on collisions, this innovation considerably reduces the load on the head and neck of passengers restrained by seat belts in these seats.
Just as the Mercedes-Benz S-Class paved the way with new standards of safety 40 years ago, the new-generation continues to take driver and passenger safety to a completely new level and set new standards not only for the company but for the industry as a whole.
The FGN bond market continued on its sluggish note, opening and trading on a very drab note. The belly of the curve weakened aggressively, sliding another 40bps D/D. We saw better offers for 2034s-2037s paper and a few trades printed for the 2035s,2036s, and 2037s maturities with the range of 7.40%-7.60%.
Offers were also bettered for the 2034s paper at the 7.50% level but were met with a rather far bid making it challenging to close. The curve’s tail was quiet, with few offers seen at 7.62% for the 2049s and 2050s papers. Consequently, yields expanded further by an average of c.37bp D/D.
We expect the market weakness to persist as most dealers have set into the holiday season and are less interested in any active trading.
At the T-bills space, trade volumes continue to be low as local banks remain risk-off at current market levels at the short- to long-dated papers. By and large, yields remained unchanged across the curve for both the NTB and OMO treasury bills.
We expect the markets to remain lethargic in the interim, as market participants hold off from trading while anticipating the upward movement’s likelihood in rates in the near term.
Money Markets
Interbank rates remained stable in today’s trade session, dropping slightly by an average of c.81bps, as local banks remain relatively liquid with no funding pressures on the horizon. System market liquidity improved somewhat with a positive opening, as OBB and OVN rates closed at 0.50% and 0.88%, respectively.
We expect the market to remain stable at these levels heading into tomorrow’s session.
FX Market
Transaction volumes improved in the IEFX window by 183%, as c.$236.91m changing hands between market participants in 236 deals, ranging between N385.00/$ and N407.25/$. The closing rates remained unchanged across the various market segments, as the market continues to support the IEFX window through their daily intervention.
Eurobonds
The NIGERIA Sovereigns resumed its slightly bearish run-in today’s trading session, as demand improved across the sovereign curve, especially on mid-tenured papers, caused mostly by market dealers’ profit-taking. Yields expanded by an average of c.5bps across the sovereign curve. The ANGOLAs strengthened slightly by (+5c) in the SSA space, especially on the most sort after 2025s paper.
The NIGERIA Corporate papers traded on a positive note, with some improved bids seen on all the tracked papers, particularly ACCESS 2021s, which strengthened by an average of c.26bps.
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