NYSE:ENR 14 August 2025 - 18 November 2025

Sunfire reported 84% LHV efficiency in a multi-megawatt SOEC unit; NASA ran a 4 MW SOEC in 2023. Alkaline electrolyzers cost $2,000/kW, Chinese units as low as $750/kW; PEM at $2,450/kW; SOEC pilots at $2,000–$3,000/kW. Alkaline and PEM reach 60,000–90,000 hours lifetime, SOEC demos 20,000 hours. Sinopec commissioned a 260 MW alkaline plant in 2023; Shell’s 100 MW PEM project targets 2027.