Good morning, everyone. Welcome to the presentation in the first half half of twenty twenty one. I'll be presenting today. My name is Urs Hoesser and I'm the CEO of Eyle. I'm also a board member in the company and also Chairman in Eine Sweden.
Together with me I also have our CFO, the election head I think we have seen that we are focusing on 2 areas. Firstly, one is to strengthen the supply side to ensure that we have the right cost level of hydrogen. The second one is to start building up the hydrogen station network. And of course, we need to add on personnel, so that we can do all the tasks that is associated with this. First of all, I will say that we are very pleased to sign this collaboration agreement with Hagenpro that will secure us again source in Pashkoyen and we can start opening the station.
That has been important for us that we have a good collaboration in the Pashkoyen area. We can actually have users that would come in and use the station. Of course, then we need hydrogen at a reasonable price, and that we will get with the agreement with the Helgen Pro. 2nd part of our supply side is to buy 2 electrolysis from Rutel. That was the old bus station, but the 2 electrolysis are good to go.
And we see that we can come up with 250 kilo per day. We are evaluating a new location. I think it can be very useful in the best project. 3rd, we have made a joint venture agreement with Green Logics, that's an Austrian German company with a new very promising production method for producing hydrogen. It also produces carbon and all that from hydrocarbons without any CO2 emissions.
I'll come back to that a little bit later. We also made an agreement to test the reformer from MAM. It has in the first half of twenty twenty one. It's been a bit delayed, but we expect it now to be ready this autumn, and we will set it to production as soon as we get it. And of course, we need more transport units to make sure that we distribute to Hylian.
The reason for us focusing on the supply side is that can be rather expensive. If you buy it from the industrial gas companies, who are the main suppliers right now. All the people talking about large scale cheap hydrogen, they have still only plans and it's not available yet. So it means that if we are to achieve our business plan, we have to have control of the first level of the hydrogen. That means producing it ourselves.
So we have started with our network. We are very glad to see that Herrick is running well with 2 independent line. It actually means that there's 2 stations within 1. We have done this in order for the customers to always be able to get Telgem when they come to a station. Building the security for them that they will actually get fuel to the cars.
And we've seen the heavy actually 52% more 1st half year, then last half year, the first year part, it's very promising. We also purchased our landline station from Linde at the airport. Just took it over from the first of August. We are eager to get that developed and moving into higher volumes. We have spent some time in Gothenburg and Portugal to recertify the stations.
There has been some trouble due to corona restrictions and lack of people and spare parts, really. So it means that we have used more time than we wanted. But now we feel that we are in good routes, and we see that during the Q3 this year, we believe they should be operating both of them. And we have additional projects in the pipeline to deliver on the target we have for 8 stations by end of 2022. Our organization has been strengthened both with technical and administrative personnel.
We are not moving too fast, but we are moving as fast as we think is right. We have the listing on New Next World that was very successful and raised We have a number of the first half of twenty twenty one, NOK60 1,000,000 for us to fund our expansion plans. So we believe that we can expand now and move into our 8 station network plans with a good production capacity to ensure that they have the right cost level of the hydro. The car market is getting more healthy, I would say. We see a lot of sales of used cars.
We also see that Toyota is strong on advertising for the new model, the Mirai 2. And we see that it's actually picking up more volumes. In Gotburg, we had some trial refuelling of the trucks to Renova. And as soon as we get the station regular operation, We believe that there will be increased income from that side as well. One thing we received last year was remains from Akershuskerskommen, received we can that was a support scheme for operating hydrogen stations.
That has not been ended and we cannot get that for 2021. Working on the money is a lean way of spending money. We continue with that and see how we can Use the money in the best way. What we see is that we need personnel to develop the company further, but we see also the hydrogen and the cost of hydrogen is a place where we can actually catch some cost, and that's what we are working on right now. Basically, we have €56,000,000 at the end of the period in cash in our balance and that is going to be used in a very good way.
I was mentioning this new production method that we have entered into a joint venture agreement with the VELAZIX. I think this is a very promising method. I looked into it for many, many years. Let's see if there is a Company out there who will succeed in actually splitting hydrocarbons into solid carbon and hydrogen. And I think we met them right now.
What they have shown for many years actually is trial processes and small plants that's actually producing good quality carbon in this actually down a few percent in ceiling wall quality. We see that the hydrogen is in a good quality. And now is the time to move to the next step and actually build a pilot plant I think this is very interesting, because now we can produce hydrogen from, so I would say, natural gas. We can do it from biogas even. But we do not create any CO2 and that is a very good thing because if you do create hydrogen in the normal way from steamer forming, you get a lot of CO2.
Then you have to capture the CO2. Then you have to bring it to a place and store it somewhere. If it should be a real blue hydrogen and no CO2 emissions. With this method, we can actually skip the whole CO2 program. We don't produce any CO2.
We just get carbon in solid form I can take that out and set it for as construction material and other areas. So this is very exciting for us that we can see a new way of producing hydrogen. It also means that there will be abundant resources for the production. And the best thing, of course, is that it's a cheaper way to produce hydrogen. We get income from hydrogen and we get income from carbon.
So it means that like on the electrolyzer, you have both hydrogen and But it's very seldom that you can actually sell the oxygen, because oxygen produced from air gas separation units is and the supplies, all of them in there. So I think we can see that there's a raw material that people are asking for on the carbon side and we can actually get a good income from both streams of the production. If you use biogas, then we can even give a negative greenhouse gas contribution, actually takes it out of the circulation. So next year, we plan to have a pilot in operation by summer next year and really excited about that. So looking at our station network, we have Oslo with HOVIC in operation since November 2019.
More than 7,000 car refunings has been performed, and it's working very well. Porsche and the recertification, we have sent a few tanks to Netherlands to retest them, to recertify that they can be in operation for 5 more years. Gothenburg is now in the rebuilding and I think pretty soon we're going to fill it with hydrogen and start the test journey. In the first half of twenty twenty one. Arlanda in operation, as I said.
All instruments were taken over from Linde this 1st week in August and it's now in Helium operation. Further, we will expand, as I said, up to 8 stations in Next year, we have good plans and ideas where they would come. And then further move up to 30 stations in the Scandinavia, North Europe area. It really depends on where the market is coming and where the volumes of the vehicles are coming in the in the first few years. Talking about the market, of course, there's a push for clean fuels, I would say.
We've seen all the way from the EU at a high level down to European Green Deal And countries and regions going for 0 emission vehicles only. In Norway we see a tremendous move into battery electric vehicles, I think it's really good, but still there's a necessity to have hydrogen with us if we are to meet that of targets that the world Really, it needs to meet these days. Looking into EU's Fit for 55, that's also putting increased emphasis on hydrogen. There's a timeline there going on with this ambition goals. They said in June that the new climate law enters into force and that means that there should be 55% reduction of emission from cars by 3030 and also 50% reduction from vans by 2,030.
And of course, from 2,035, no emission from new cars. And that's really tough. And people I talk to say it's impossible to imagine that you can do it without having also Hydrogen in the portfolio of new vehicle fleets. What is interesting is that This also implies that it has been a new fuel directive, alternative fuel directive that has been worked out by the Commission. It's part of this package that's mentioned in July here.
And it's presented to all the member countries. And of course, this is not taken from thin air. It's been developed several years actually with member countries and organizational bodies and so on. And it really states what all the member countries has to do with alternative fuels, like battery electric, for LNG and for hydrogen. And talking about hydrogen, there should be in this what they call 10T core network And also the comprehensive network, minimum 1 hydrogen station per 150 kilometer and 1 station per urban node by end 2030.
That's comes up pretty fast to 1,000 stations. And it means that all countries in the EU, including Norway, we'll have to have a hydrogen infrastructure. But that means that it's actually creating a political foundation for our plans. That It's not something we are just talking about. It's a part of a bigger plan.
EU wants, hydrogen to be part of the 0 emission fuels And it's very clear that the member states will have to comply to this. The directive is right now on the hearing around and But basically, it is going to be a very clear message and statement that this is going to be required from all the countries. So the move is coming. And I've seen from the studies being done that is a huge gap between The first half half for 2021, required unplanned hiring stations. They had to say in 2030, it's about 3,700 that's need for.
In the first half of twenty twenty one. Older than 2025, it's a gap of 7.50 stations. So we will take part and fill a little bit of that gap at least. Looking into the study for high end and use, we see that it's some areas where high end is It's better than battery versions, I think, especially when they're driving long and with heavy loads and so on. For instance, SUVs, Then you see that's advantage.
The light green are the hydrogen fuel cell vehicles, while The darker ones are the battery and the ICEs are the lighter ones. So it means that And again, should after some initial years been able to compete with most of these technologies, in some areas would be as good as the other ones. And in Subarus, it will be a better choice. We have looked a little bit into it. For instance, taking a very popular in Norway these days, the of the ETRON 55 and compared to the total MRI.
Just on consumption per 100 kilometer, what they given their WLTP. You see it is almost the same energy level. When you have such a heavy car like the Audi e tron, they consume a lot of energy on normal driving, while the fuel cell cars has really become more and more energy efficient. And if you see from the picture below, the top of Meraj actually have a world record of SEK11.20 1,000,000,000,000 in the first half half for 2021, dollars 1,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000, People will, of course, not drive like that, but it's just an example saying that if you drive carefully, you can really come a long way with these cars. And with a range of 6.50 kilometers and refueling in 3 to 5 minutes, it's really Easy to replace the fossil fuel cars of today with hydrogen cars.
So it will be more choice for people to have a battery car or a hydrogen fuel cell car. What it comes up to is really where can I fuel? And that's what we are going to do something about to help people to get the fueling points. We also see there's a strong regulatory support for serial emission vehicles, and I don't think it will be any weaker. We have in Norway this serial import duty of all these incentives up to 20, 25 or 50,000 cars.
That was the same as the battery electric vehicles have up to 2017 and 30,000 cars. We can also see that they have been prolong them, they still have a lot of the incentives. So I think the It shows that the hardening cars can be very energy efficient and give you very long driving distances. Carrying a lot of loads and there's no need to fill them up with a lot of weight from batteries. So you can actually use Hydrogen, which is a much lighter version.
I just made one easy comparison. So that, okay, in the areas where you have toll roads, where you can be freed from paying these total taxes. If you drive a hydrogen car or hydrogen truck, then you can actually save a lot of money and compensates something on the probably higher fuel cost at the beginning. So it means that if you for instance take Ostrally Lahammer 150 ships These are a example of showing that it'll be almost the same operational economy for these 2 trucks. We see that the trucks are slowly coming in.
We are working with the Novae in Gothenburg to have refueling of hydrogen trucks that they have been made the prototypes, the conversion. They also tested the batteries, which they said cannot work for us. And they will be fueled to a full extent from as soon as we get the station operation in Luxembourg. We also talked with a lot of other truck companies, and we think that there'll be So it means that On the truck side, it has been just Prototypes so far, at least in our region, coming to mainstream in the next decade. We see offers coming in for trucks now.
They're still quite expensive, 2 to 3 times the normal truck. So it means that the cost has to come down in order for most trucking companies to start buying them. But we believe that it will be huge numbers coming in Probably 2 years from now on, I think you will see a lot of hardening trucks coming into the market. Buses has been there for some time. I've been part of my in my first first project in 2004 already, tested various demonstration projects.
Now the costs are coming down, but still they are, of course, with a lot of This is public procurement process. And we will, of course, participate where it's possible to participate. We also see for the trucking projects, we are a partner in the H2 truck project and also string project, where we'll introduce the 1st high end trucks in Norway. And Sling is also a corridor down to Hamburg. Cars, I would say, is coming from scarce to abandoned over the next decade.
Right now, it's to Atan Hyundai that will sell hydrogen cars to you or lease them. I think almost all car manufacturers have some hydrogen cars developed. Some of further ahead than others. But I think that we'll see when the new tailpipe regulations come into force by 2025. I think you'll see that they really have to scramble up and do a lot of things.
You know for instance that Like BMW, they said that we'll have a few X5s coming up next year and we'll go for mass production in 2025. So I think we'll see more and more cars and car producers come into the market. The Chinese are also working on high green cars and have agreed to enroll series of that. So a larger number will come, and we will be ready to refuel. So we have been working closely with the United Auto Man, Man, Man, Yes.
And we also see that taxes might give early volumes. Unfortunately, due to the quarter, the taxi companies were in that tough situation and we think that will recover and that can be a very useful earlier volume tools. The month has actually not been available Really, because the car company said this is the lowest margin they have on any car. But it seems like the development has So we will engage with potential users and have a dialogue with our companies and see what we can do to have fleets of vans also coming in. Next is about moving forward and I thought just to mention a little bit about the difference in Big enough refueling network for battery electric vehicles and fuel cell electric vehicles.
For the BVs, you really get the flying start. It's easy to plug in every socket you you can see, and they can get it charged, and it's easy. They can put up some quick charges and that things will go well. But then it gets tougher. You have to have more and more quick charges, more and more space, more land.
You have to make sure that your service department is up and running so that all these green charges are working well. And still, it will take you about minutes to get to the kilometres driving range on this. Some places you can get it faster, but it's not sure that That poll is ready for you when they come there. And of course, we see that from being completely free. People who are so happy buying these BVs and to drive around and They know how to pay more and more, unless they charge at home or at work where they can get a cheap cost.
But the cost of electricity means that you are all up at the same price as petrol, if you only use the big charges and some places even more expensive. While for hydrogen, it's a little bit on the other side. We it's a bit tough to get But we need more investment to have a fueling station for But as we can add on capacity, it goes according to normal business models. So for us, we see that from the industrial tough start, we see that the costs delivered kilowatt hour is definitely decreasing. It's a potential for But still, if you have 10 stations in Southern Oregon, people can do most of the driving with the hydrogen car.
I think that both Odfjell and Odfjell and Odfjell is now very soon ready to start checkout with Hylian and they're so far being filled with the Dutch yen to conserve them while they have been idle. So now we start with testing out all the systems with Hylian in the next 3 weeks, I believe. And that means that we will see if there are some small things to fix when we move up in pressure, checking that everything is working according to the procedures. And at the same time, we are working with the approval from the local authorities. And we are not 100% sure how fast they are working, but we'll do our best to make sure that this process will take as short as possible.
So it's not easy to say, but we feel that we are in the in the right level. First in Portugal, we have the 1st inspection by the external keyway inspectors, technology Inspector, saying that, given some points that we have to look into and we are, of course, holding the leases to make sure that everything should be fine. I think we need more capital. We went for our listing. We had a higher level that we really wanted to have to make sure that we could do Yes.
But of course, not so high. So we believe that we have to take step by step. We have a good capital position right now, and I think quite a lot have been able to buy some stations rather cheaply that can do a good job for us for quite a few years. But we think that we will have to go to the market and invite more investors to come into the company over the next half year or so. Yeah.
The current plan is that it will be 9 persons fully employed and then we rent in some some in addition. So maybe 1 to 2 in the rental basis and then depends on how many projects we are going to performed because we also rent in people for taking direct project activities. Okay, anything else? I don't see any more questions. So Yep.
Let me see there's not been anything in the chat or anything. So that's no. No. Okay. But then, I think we made our presentation and thank everybody for listening.
So I wish you a good day.