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


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DFDS: Partnership aims to develop hydrogen ferry

11/26/2020 | 04:01am EST
Investor news no. 27/2020

DFDS and its partners have applied for EU support for development of a ferry powered by electricity from a hydrogen fuel cell system which only emits water. Green hydrogen is to be produced by a projected offshore wind energy-powered electrolyser plant in Greater Copenhagen.

A group of companies have partnered up in order to develop a 100% hydrogen powered ferry for initially DFDS’ Oslo-Frederikshavn-Copenhagen route. 

The ferry will be powered by electricity from a hydrogen fuel cell system that emits only water and can produce up to 23 MW to propel the ferry. 

“The largest fuel cell systems today produce only 1-5 MW, and the development of such large-scale fuel cell installations for an electric ferry is a monumental task. We can only succeed in partnership with companies that bring together some of the globe’s finest expertise in design, approval, building, financing and operation of innovative vessels,” says Torben Carlsen, CEO of DFDS.

The partnership committed to achieving this includes DFDS, ABB, Ballard Power Systems Europe, Hexagon Purus, Lloyd’s Register, KNUD E. HANSEN, Ørsted and Danish Ship Finance.

“Together, we expect to be able to make these fuel types and technologies commercially viable, which is key to a transition of the industry to climate neutrality. This is also the ultimate goal of DFDS’ climate action plan,” says Torben.

The partnership has applied for support from the EU Innovation Fund in order to accelerate the process and in view of the public interest in developing such technology. There are no ferries of this kind in the world today and a high level of uncertainty is therefore involved in the undertaking. However, if the project develops as projected, the ferry could be in full operation on the route, or elsewhere, as early as 2027.

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.

The ferry that has the working name Europa Seaways, is designed for 1,800 passengers and has capacity for 120 trucks or 380 cars. 

Vessel and route details
On board power productionPEM Fuel cells
Engine power23MW
FuelCompressed hydrogen
Fuel tank capacity44T
Passenger capacity1,800
Trailer and car capacity2,300 lane metres
Route                         Copenhagen - Frederikshavn - Oslo
Roundtrip time48 hours
Bunkering interval48 hours
CO2e/year emission avoidance64,000 Tons

Torben Carlsen, CEO
+45 33 42 32 01

Karina Deacon, CFO
+45 33 42 33 42

Søren Brøndholt Nielsen, IR
+45 33 42 33 59

Gert Jakobsen, Communications
+45 33 42 32 97


  • UK_OMX_NO_27_26_11_2020

© OMX, source OMX

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Net income 2020 456 M 74,2 M 74,2 M
Net Debt 2020 11 979 M 1 946 M 1 946 M
P/E ratio 2020 35,0x
Yield 2020 0,48%
Capitalization 15 824 M 2 574 M 2 571 M
EV / Sales 2020 2,01x
EV / Sales 2021 1,75x
Nbr of Employees 8 600
Free-Float 56,4%
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Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 298,33 DKK
Last Close Price 276,60 DKK
Spread / Highest target 8,46%
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EPS Revisions
Managers and Directors
Torben Carlsen Chief Executive Officer
Claus Michael Hemmingsen Chairman & Deputy Chief Executive Officer
Karina Kjśr Deacon Group Chief Financial Officer
Rune Keldsen Chief Technology Officer & Executive VP
Jill Lauritzen Melby Director