dynaCERT: Strong Year-End Business?
High energy prices are weighing on companies worldwide. Freight forwarders, logistics companies and operators of large diesel fleets, in particular, are looking for ways to reduce fuel costs. These are the market drivers for a comeback in dynaCERT shares. The Canadian company has developed HydraGEN™ technology that lets existing diesel engines run more efficiently and emit fewer pollutants. The devices can be retrofitted without much effort. On the operational side, too, the German management team led by CEO Kevin Unrath and German automotive expert Bernd Krüper appears to be on the right track. At least, that is what the latest company announcements suggest.
On October 6, 2026, dynaCERT reported positive developments in the French market. Through its distribution partner IPMD, it secured a follow-up order from an existing customer in September. This is particularly noteworthy because the customer is already familiar with the technology and chose HydraGEN™ again. At the same time, it is pursuing further pilot projects. The French distribution partner is working to win additional customers in the transport sector, as well as in industry and mining. Other French-speaking markets are also set to be targeted.
Previously, dynaCERT had announced the launch of a broad-based international sales initiative. The focus is on three target markets: heavy-duty transport, port logistics and stationary power generation. Through targeted customer contacts at trade events in Europe, Asia and North and South America, the company aims to expand its sales pipeline. These include IAA Transportation in Hanover, as well as events in France and the US. The company also plans further activities in Singapore and Colombia. The aim is to increase the number of concrete sales opportunities and start 2027 with a broader customer base.
dynaCERT is also making progress in Southeast Asia. Several customer projects are underway in Vietnam. In the Hanoi region, the company prepared further pilot installations at an operator of long-haul trucks in the waste management and recycling sector. A major oil and gas group is also exploring applications and plans to test the technology in fire engines, forklift trucks and mobile cranes, among other vehicles. The collaboration with one of the world’s largest logistics groups is also noteworthy. The group is testing HydraGEN™ on trucks and port-handling equipment. The HydraLytica™ telematics platform is intended to systematically record fuel consumption and emissions. In addition, dynaCERT is already in discussions about potential projects in Cambodia, Indonesia and Japan.
Plug Power: Shares Continue to Fall
After Nel ASA disappointed with its quarterly figures, attention is turning to the second former hydrogen favourite. Plug Power will report on third-quarter developments on November 9. It believes it is in a better position than the Norwegians. Preliminary figures have therefore already been published. So far, however, these have failed to halt the sell-off of recent weeks. Within four weeks, Plug shares have lost more than 30% of their value, and over six months as much as 57%. Nothing remains of the hope that briefly emerged that Plug Power could benefit from the AI hype.
The company sees itself as on track with its operational stabilisation. Based on preliminary figures, the US hydrogen specialist expects revenue growth of more than 10% year-on-year for the third quarter of 2026. For the full year, the company maintains its forecast of a 15% to 16% revenue increase. At the same time, gross margins are expected to improve further. Net cash burn fell to around USD 28 million in the third quarter, its lowest level this year. At the end of the quarter, Plug Power had cash and cash equivalents of around USD 134 million. The company issued no new shares and took on no additional debt in the third quarter. The fact that this needs to be pointed out is telling. CEO Jose Luis Crespo also expects further operational progress in the fourth quarter and is focusing on strict cost control.
Plug Power sees growth potential particularly in its electrolyser business. The company puts its global project pipeline at around USD 8 billion. Recent successes include a supply contract for electrolysers with a capacity of 280 MW for Arcadia eFuels in Denmark. In addition, Plug Power concluded a strategic agreement that positions it as the preferred supplier for potential projects with a total capacity of more than 1 GW. In Australia, the company secured an order for 50 MW, while further major projects in Canada, Spain and Portugal are being advanced.
Steyr Motors: Company Set to Be Acquired for EUR 39 per Share
While investors can speculate on a comeback at dynaCERT, Steyr Motors will unfortunately likely disappear from the stock exchange. US drone and robotics specialist Red Cat Holdings plans to acquire the Austrian specialist engine manufacturer. The Nasdaq-listed company is offering Steyr shareholders EUR 39 per share in cash. This represents a 28.9% premium to last Friday’s closing price and 27.3% to the volume-weighted average price over the past 30 days. That sounds appealing, but the 52-week high is around EUR 53, and the shares were already trading at EUR 39 in March 2025. Many shareholders are therefore unlikely to exit the investment with a large profit.
The fully financed takeover offer is supported by Steyr’s major shareholder B&C Holding Österreich. It has already irrevocably committed to tendering its stake of around 15%. The acceptance period is expected to end on December 18, 2026. Conditions for completion include regulatory approvals and a minimum acceptance threshold of 50% plus one share.
With the acquisition, Red Cat aims to expand its activities in autonomous maritime systems. Steyr Motors develops and manufactures specialised engines for military and civilian applications. Marine propulsion technology and the European production base in particular are of strategic interest to Red Cat. The Americans intend to combine these capabilities with their existing customer relationships in the defence sector and their growing portfolio of unmanned surface vessels.
Conclusion
With Steyr Motors, an innovative European company is expected to lose its independence. However, the takeover price is unlikely to generate much enthusiasm among many shareholders. The transaction could therefore still fail. At dynaCERT, the latest announcements indicate that the German management is making progress in marketing its technology internationally. Securing larger orders in the coming months will be crucial for a re-rating of the shares. With its market capitalisation still at a lofty USD 2 billion, Plug Power is not an obvious buy.
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