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Not much better luck abroad. Not sure if it's bad luck, incompetence or hypocrisy, but this Biden Administration doesn't seem to get anything right. I'm usually not political, and I hate politics, but the failure of the Biden Administration with respect to hydrogen is colossal, and it doesn't seem to be an exception but quite the opposite.
https://www.msn.com/en-us/news/us/towed-to-israel-for-repairs-pentagons-320-million-pier-in-gaza-trashed-by-rough-sea-and-storms/ar-BB1nd72O
Key quotes:
"The $320 million pier the Pentagon built to ferry desperately needed aid to Palestinians in Gaza was damaged by high seas and must be towed to Israel for repairs."
"The Biden administration had touted the pier for weeks as a vital alternative to land routes to ship food and medicine to Palestinians caught in the war between Israel and Hamas."
"Heavy seas thrashed four U.S. Army vessels involved in the aid mission on Saturday, according to Central Command. The ships broke free from their moorings, and two were beached on the coast of Israel."
White House to announce actions to modernize America’s electrical grid, paving the way for clean energy and fewer outages
By Ella Nilsen, CNN
May 28, 2024
https://www.cnn.com/2024/05/28/climate/energy-grid-modernization-biden/index.html
Key quote:
"The US currently has a major clean energy problem: There is more electricity from solar power alone waiting to get on the grid than the entire amount of energy currently on the grid. To combat the climate crisis and increase the amount of cheap energy from clean sources like wind and solar, the US needs more modern high-voltage transmission lines."
WTM - Impressive ? Or ridiculously unattainable?
When you do the math, there is an exceedingly low probability of Australia achieving their hydrogen goals.
Australia is notorious for their grossly unrealistic energy goals. Just last week they postponed the planned shut down of their largest Coal - Fired Power Plant for several years.
JB, quote: "Australia has about the same population and GDP as Florida."
Which makes their AU$8, US$5 billion new hydrogen production tax incentives over 10 years, even more impressive.
Related article.
Monday's Energy Absurdity: Pete Buttigieg Explains Biden's $7.5 Billion EV Charger Boondoggle
DAVID BLACKMON
MAY 27, 2024
https://blackmon.substack.com/p/mondays-energy-absurdity-pete-buttigieg
Plug Power CEO ‘certain’ 45V hydrogen tax credit rules will be relaxed
By Charlie Currie on May 28, 2024
Andy Marsh, CEO of Plug Power, has said he is certain the US’ proposed hydrogen production tax credit (PTC) rules will change, telling H2 View the current text is not in line with legislative intent.
“The regulations are going to change,” Marsh said. “There is no doubt.”
Published in late December 2023, the proposed guidance on Section 45V of the Inflation Reduction Act (IRA) set out various requirements that clean hydrogen producers would have to meet to secure PTCs worth up to $3/kg.
.....
https://www.h2-view.com/story/plug-power-ceo-certain-45v-hydrogen-tax-credit-rules-will-be-relaxed/2110336.article/
Airbus, BMW to Grab Share of €1.4 Billion Hydrogen Aid in Europe
- EU approves ‘Important Project of Common European Interest’
- Expected to create 3,600 jobs and be completed by 2031
By Ewa Krukowska 28 mei 2024
Firms including Airbus SE, BMW AG and Michelin are set to get a share of €1.4 billion ($1.5 billion) in state aid for a slate of hydrogen power initiatives rubber stamped by the European Union as part of its drive to tackle climate change.
The European Commission, the EU’s executive arm, said Tuesday it expects the overall plan — dubbed an “Important Project of Common European Interest” — will unlock additional €3.3 billion in private investments. The funds will go to 11 companies in seven participating member states: Estonia, France, Germany, Italy, Netherlands, Slovakia and Spain.
“Investing into hydrogen powered mobility and transport technologies can be risky for one member state or one company alone,” said Margrethe Vestager, the EU’s competition chief. “This is where state aid rules for IPCEI have a role to play.”
The 27-nation bloc needs to slash emissions from transport in order to zero out greenhouse gases by 2050 under the Green Deal. The joint endeavor, named Hy2Move and classified by the EU as a key cross-border project, will support innovation, research and the first industrial deployment in the hydrogen value chain.
The project is expected to create around 3,600 jobs and be completed by 2031.
https://www.bloomberg.com/news/articles/2024-05-28/airbus-bmw-to-grab-share-of-1-4-billion-hydrogen-aid-in-europe
B_B - Wow ! Let's put that in some perspective....
Australia has about the same population and GDP as Florida.
Meh.
Proposed New Australian Hydrogen Production Incentives and Support
by: Stuart Broadfoot, Clive Cachia, Matthew Cridland, James Durnall, Adam Levine
Tuesday, May 28, 2024
The Australian Government has recently announced proposed measures to support the production of hydrogen in Australia utilising renewable energy. These include a new hydrogen production tax incentive and are estimated to amount to support of AU$8 billion over 10 years.
.....
https://natlawreview.com/article/proposed-new-australian-hydrogen-production-incentives-and-support
Pete Buttigieg has a VERY tough time trying to explain why "only 7 or 8 [electric vehicle] charging stations have been produced with the $7.5 BILLION investment that taxpayers made back in 2021" pic.twitter.com/ajxWUl69R1
— RNC Research (@RNCResearch) May 26, 2024
Apparantly, the hypocracy of the Biden Administration extends beyond hydrogen.
Mayor Pete Bombs CBS Interview, Blames Airline Turbulence On Climate Change, As Host Laughs In His Face
MAY 28, 2024
https://www.zerohedge.com/markets/mayor-pete-humiliates-himself-cbs-interview-blames-airline-turbulence-climate-change
Key quotes:
As we noted earlier this month, the Bipartisan Infrastructure Law, signed by Biden in November 2021, allocated $7.5 billion for EV charging. Of this amount, $5 billion went to states as "formula funding" for the National Electric Vehicle Infrastructure program to establish a network of fast chargers along major highways.
Today, there's seven chargers with a total of just 38 parking spots.
Key quote from the article: "Anxiety about the overly restrictive guidance extends beyond DOE and hub collaborators. Eleven Democratic senators wrote to Treasury Secretary Yellen to reiterate their concerns with excessive restrictions on the 45V tax credit." Link to article https://www.realclearenergy.org/articles/2024/05/27/diverse_voices_agree_treasury_regulations_could_jeopardize_the_hydrogen_economy_1033862.html
Missing from the list of eleven Democratic Senators is the Senate Majority Leader from Plug Power home State of New York, Chuck Schumer. Link to Letter https://subscriber.politicopro.com/f/?id=0000018b-ab2e-d7df-abbb-ef6fb5ca0000
Does anyone have any explanation for this, any guesses as to why?
Maybe the alkaline electrolyzers from McPhy are not good enough 🤣
Hytlantic and McPhy agree to terminate cooperation agreement
Grenoble, May 27, 2024 – 7:30 am CEST – McPhy Energy, specialized in low-carbon hydrogen production and distribution equipment (electrolyzers and refueling stations), today announces that Hytlantic and McPhy agreed to terminate their cooperation in the frame of the GreenH2Atlantic project.
The decision follows an in-depth assessment of the activities performed and outcomes of the partnership between Hytlantic and McPhy over the past few years during project development, and the outlook for the progress of those activities and results going forward.
Hytlantic remains committed to the development and success of the project.
McPhy Group will continue to focus on implementing its strategy, aiming to become one of the leading electrolyzer company in Europe, contributing to the ramp-up and development of low carbon hydrogen.
https://ml-eu.globenewswire.com/Resource/Download/a11b4c5f-af86-422f-bbfa-a21956bb3081
French hydrogen firm McPhy saw electrolyser orders halve in 2023, but massive factory expansion will continue
Polly Martin 6 February 2024
https://www.hydrogeninsight.com/electrolysers/french-hydrogen-firm-mcphy-saw-electrolyser-orders-halve-in-2023-but-massive-factory-expansion-will-continue/2-1-1594329?message=%5Bnuxt%5D+instance+unavailable&stack=&statusCode=404&statusMessage=%5Bnuxt%5D+instance+unavailable&url=%2Felectrolysers%2Ffrench-hydrogen-firm-mcphy-saw-electrolyser-orders-halve-in-2023-but-massive-factory-expansion-will-continue%2F2-1-1594329
Diverse Voices Agree: Treasury Regulations Could Jeopardize the Hydrogen Economy
By Kendall Stephenson May 27, 2024
https://www.realclearenergy.org/articles/2024/05/27/diverse_voices_agree_treasury_regulations_could_jeopardize_the_hydrogen_economy_1033862.html
Banger - PLUG will still be using the ATM as well. PLUG is still burning through money, and no one knows when the loan money will get here.
So until then, and perhaps even after, PLUG is dependent on the ATM.
not typical dilution and Im not sure there is anything they can do if the Giner owners decide to exercise their warrants.
adds to the float but was already accounted for in the fully diluted share structure
gets the company money without going to the ATM as well
Total consideration paid by the Company in connection with the Giner ELX Merger was approximately $58 million and consisted of: $15.9 million of Common Stock (or 3,458,254 shares), approximately $20.5 million of cash paid to Giner ELX stockholders; approximately $5 million of cash was paid in respect of certain indebtedness and certain transaction costs; and a potential earn out and other deferred payments aggregating $16 million (payable in cash, Common Stock or a combination). In 2024, Giner ELX stockholders are also eligible to receive up to $10 million of warrants for Common Stock, exercisable for 2-years, based on specified revenue at ELX LLC exceeding certain targets assumed for 2023.
June 23, 2020 Form8-K Current report filing
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001093691/b3855407-bb3c-4ee5-aae7-2e4d0a323a8d.pdf
"But note this "dilution" is 0.4%."
yup...so just tack that onto the 23% dilution that shareholders have experienced the last 6 months...
and then wait for the next dump...
Jditi - So True.
Therefore:
More Outstanding Shares
EQUALS
More Shareholder Dilution !
So true. But note this "dilution" is 0.4%.
"If at market, there is NO DILUTION because the cash paid for the shares goes onto the balance sheet."
thats kind of the same reasoning with reverse splits...r/s dont change shareholder value...you have the same amount of money after the r/s as you did before...
but the problem is, the pps will almost always drop after the r/s...it starts dropping the moment the r/s is announced...thus even though mathematically, the r/s has no effect on shareholder value, the reality is that it does...
its the same with dilution...in Nov, plug had 605.5 mil shares outstanding....in May, they had 742.5 mil o/s....thats a whole lot of shares added in a short period of time...i would imagine most of that was shares sold by the company for cash...had to be at least several hundred million bucks into fcel's pocket...
and now they want to dilute 3.5 mil shares cause they need $11 mil more?...what?...whats wrong with this picture?...
theres what math tells you and then theres what reality tells you...
Really tired of this. Selling shares is only dilutive if the price paid is below market. If at market, there is NO DILUTION because the cash paid for the shares goes onto the balance sheet. More shares AND MORE ASSETS so the bvps is the same before and after.
B_B - More Outstanding Shares
EQUALS
More Shareholder Dilution !
The more outstanding shares Plug has, the more SK can add while staying below 10%.
Example:
SK already owns 51.4M shares ($29.29) in 2021.
Date………..Outstanding shares…………..10% outstanding shares – 51.4M shares
May 7….……………742M……………………..74.2 - 51.4 = 22.8M (can add 40%)
May 23……………...823M……………………..82.3 - 51.4 = 30.9M (can add 60%)
SK can average down by buying 40% - 60% more shares (average price about $19 - $14).
Another Secondary ? 3.5 million more shares.
What a cheezy move.
I'm so glad PLUG waited for a long holiday weekend to spring this on us.
MORE BAD NEWS !
DOE Loan Pump !
SECONDARY Dump !
https://eletric-vehicles.com/plug-power/plug-power-files-prospectus-for-potential-sale-of-nearly-3-5-million-shares/
Every PLUG Rally Fades.
On March 15, 172 mil shares was 28% of the float…
On May 15, 192 mil shares was 28% of the float….
Yikes….
Nikola at ACT EXPO LAS VEGAS | 2024
Nikola Motor Company
43.7K subscribers
Posted May 23, 2024
The energy from #ACTexpo is unlike any other. We met with customers, fleets, vendors, suppliers and other OEMs and it is clear that our mission and vision are shared by many, and collectively we can change the world. Check out this week's highlights.
Link to video here
SHORT INTEREST 192.28M (05/15/24)
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% OF FLOAT SHORTED 21.87%
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% OF FLOAT SHORTED 19.86%
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% OF FLOAT SHORTED 19.07%
SHORT INTEREST 92.76M (03/31/23)
% OF FLOAT SHORTED 17.63%
SHORT INTEREST 88.13M (03/15/23)
% OF FLOAT SHORTED 16.75%
SHORT INTEREST 80.72M (02/28/23)
% OF FLOAT SHORTED 15.33%
UK, agree. As well as one or more centralized computer center(s) used by Plug Power to monitor fuel cells and refueling stations at customer distribution centers, to anticipate and prevent major failures, I believe they called it Internet Of Things (IOT).
B_B - SK will buy more PLUG shares if they need another tax break.
A great deal. Buy a big chunk of PLUG, and get to write it off on their taxes.
It looks like SK was taking that big of a risk after all .
When is SK going to buy more shares?
They need to add at least 20 million shares to maintain 9.6% of Plug Power's outstanding shares.
2021
SK Group owns approximately 9.6% of the issued and outstanding shares of Plug Power’s common stock immediately following the investment.
SK Group will receive 51.4 million shares of Plug Power.
South Korea targets 6,500GWh clean hydrogen power in new bidding market
By Charlie Currie on May 24, 2024
South Korea is launching a bidding market for up to 6,500GWh of electricity to be produced from clean-hydrogen-fired power generation over 15 years.
The Ministry of Trade, Industry and Energy (MOTIE) today (May 24) said operations awarded contracts under the schemes must start by 2028, with successful bidders allowed a three-year preparation period and a one-year grace period.
Available for 100% hydrogen-based electricity generation, ammonia co-firing with or hydrogen co-firing with natural gas, bidder will be selected on bid price of electricity produced as well as greenhouse gas (GHG) emissions from hydrogen production.
Companies will be able to bid using hydrogen produced with up to 4kg of CO2/kg of hydrogen.
MOTIE also revealed plans for a third auction for grey hydrogen power generation of up to 1,300GWh per year on 20-year contracts with operations set to kick off in 2026.
Following on its first round in March last year of 715GWh and a second in September for 650GWh, the government expects to select the winner bidders in August, taking price, power system impact and more into consideration.
South Korea has big plans for hydrogen and ammonia use in power generation. By 2027, the nation aims to generate 3,000-3,500GWh of power annually from clean hydrogen.
The nation looks set to rely heavily on export volumes of clean hydrogen to meet its demand. The Hydrogen Council estimated South Korea could be among the largest markets for clean hydrogen by 2050, requiring some 35 million tonnes.
Companies in the country have already been looking to hydrogen and ammonia to clean up power plants. In 2022, SK E&S and SK Plug Hyverse said they would work with Korea Southeast Power Generation (KOEN) to establish green hydrogen and ammonia production technologies to see them used as feedstocks in fossil fuel power plants.
However, hydrogen’s use in power generation has faced wide criticism for being inefficient, expensive, and when using ammonia, potentially damaging to the environment.
When burned ammonia produces nitrogen oxide (NOx) – a greenhouse gas (GHG) almost 300 times more potent than (CO2).
But proponents of hydrogen in power generation say the pathway can help balance a high renewable energy-fed grid and prevent renewable curtailment during periods of high generation.
Javier Cavada, President and CEO of EMEA at Mitsubishi Power, previously told H2 View, “We can see hydrogen as one molecule that can complement other technologies in a way that has all the quality power generation that natural gas provides. Hydrogen can definitely take that role and replace the molecule.”
https://www.h2-view.com/story/south-korea-targets-6500gwh-clean-hydrogen-power-in-new-bidding-market/2110406.article/
Banger - Smart to use cheap Natural Gas instead of expensive hydrogen.
Natural gas is a fraction of the cost of hydrogen, already has an underground pipeline delivery system, and there is no need for expensive storage.
It will probably be decades before the Bloom natural gas units convert to hydrogen
It's all the rage and a great pump to any stock that adopts it. Who knows what the benefits will turn out to be, but with all our data collection entered into the software maybe they could find ways to save or a better process? That's the idea anyway.
Yes, we wasted our advantage with poor planning and use of resources for sure. Looks like we are closer to 2 years behind schedule now. We definitely need some big deep pocket partners to continue our growth, but not sure who trust management at this point.
I seem to remember some comments about the use of what may now be termed AI in our support data bases, forecasting FC failures and scheduling replacement in advance etc. Certainly cant see why it adds so much to. the Bloom price
As for datacenter sales - Bloom can sell using Natural gas, the availability of large quantities of hydrogen is still not something you can invest in. Had Texas or NY been coming on line this year then PLUG could supply customers themselves. as it is any customer for a Datacenter needs to get third party supply and probably a higher price than PLUG would charge. Bloom can hook up to Natural gas and switch over late to hydrogen when it is available and also save on the H2 infrastructure needed.
Bloom went up as soon as they announced the deal with C3AI to incorporate AI. While all the major firms are investing Billions in AI we should be doing the same as Bloom and find a partner. Why with all the issues in Ca. with diesel data cenetrs not being allowed why do we have no sales in the Trillion-dollar market yet?
govprs - If that were true, wouldn't interest rates be close to ALL TIME LOWS ?
One observation I have is this stock is interest rate sensitive
On days interest rates decline the stock is green and vice versa
Bloom and NEL who at least had news not sure why Bloom went up so much - very conservative product management
Its not looking that way
Who said :
PLUG is Up on No News. ?
Another PLUG Rally, this time thanks to Bloom.
This Rally has no legs and this Rally will Fade.
NIKOLA | MISSION
Nikola Motor Company
43.7K subscribers
Posted 16 hours ago
OUR MISSION: Pioneer Solutions for a Zero-Emissions World. It doesn't take just one of us, it takes all of us.
WTM - Interesting. Toyota was also a major sponsor of the Tokyo Olympics, touted as the " Hydrogen Olympics" as even the flame was hydrogen fueled.
FUNNY Though that Hydrogen was never mentioned in any telecast or commercial, nor was there any signage with the word Hydrogen.
Toyota's ad agency funded several focus groups for the impact of their Mirai car commercials and every group had a negative reaction to the word hydrogen, with comments like : Explosive. Dangerous. H-Bomb. Hindenburg .
As a result, Hydrogen was never mentioned at the "Hydrogen Olympics".
Something else to look forward to in the near future that could provide a boost to hydrogen stocks.
TOYOTA TO PRESENT 10 HYDROGEN APPLICATIONS FOR THE PARIS 2024 OLYMPICS
11/3/2023
https://hydrogentoday.info/en/toyota-hydrogen-olympics-paris/
Steve - Space - X uses Kerosene / Jet Fuel (same spec) and LNG .
Nasa buys from the lowest bidder. Is PLUG's Liquid H2 cheaper than Linde's ? APD's ?
Or will PLUG sell it below cost?
Maybe NASA will make a big deal with Plug to buy liquid H2. Funny, Musk does not use H2 as a fuel in SpaceX rockets, but mostly a refined Kerosene.
Maybe someone wants to rescue me 🙏
Still 1 1/2 weeks left! 😰
Most likely right, but you never know. If you remember quite a few years ago we had these rallies where certain sectors went up and were darlings during sector rotations. This could happen again as highly beat up stock may get some attention after the big banks and brokerages pare back some gains off Semi and Tech stocks. Some of these stocks have become too large a share of the ETF or Mutual fund and will be forced to be sold under the terms of the fund. Fidelity has one fund that has about 25% in one stock.
PLUG is Up on No News. ?
Another PLUG Rally, this time thanks to Bloom.
This Rally has no legs and this Rally will Fade.
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Page is currently being updated - watch for more information about their recent acquisitions and competitors
Welcome to Plug Power
http://www.plugpower.com/Home.aspx
Plug Power is the leading provider of clean hydrogen and zero-emission fuel cell solutions that are both cost-effective and reliable.
In 2020/21 Plug Power cemented two major partnerships
https://www.plugpower.com/plug-power-and-sk-group-partnership/
https://www.ir.plugpower.com/Press-Releases/Press-Release-Details/2021/Groupe-Renault--Plug-Power-Join-Forces-to-Become-Leader-in-Hydrogen-LCV/default.aspx
The architect of modern hydrogen and fuel cell technology, Plug Power is the innovator that has taken hydrogen and fuel cell technology from concept to commercialization. Plug Power has revolutionized the material handling industry with its full-service GenKey solution, which is designed to increase productivity, lower operating costs and reduce carbon footprints in a reliable, cost-effective way. The Company’s GenKey solution couples together all the necessary elements to power, fuel and serve a customer. With proven hydrogen and fuel cell products, Plug Power replaces lead-acid batteries to power electric industrial vehicles, such as the lift trucks customers use in their distribution centers.
Extending its reach into the on-road electric vehicle market, Plug Power’s ProGen platform of modular fuel cell engines empowers OEMs and system integrators to rapidly adopt hydrogen fuel cell technology. ProGen engines are proven today, with thousands in service, supporting some of the most rugged operations in the world. Plug Power is the partner that customers trust to take their businesses into the future.
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