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Tahoe - I Love Froth !
Let the good times roll.
Every drop it gets bought up LOOK AT THE VOLUME!!!
Steve, as I have mentioned in my previous post, my understanding is that there may be a retroactive component where Plug Power gets funds for money already spent. Following are the excerpts from the Q4/Full Year 2023 Earnings Call Transcripts (link https://www.fool.com/earnings/call-transcripts/2024/03/01/plug-power-plug-q4-2023-earnings-call-transcript/) related to this topic.
Craig Irwin -- ROTH MKM -- Analyst
Excellent. And then, this is a question that I'm not sure you can answer, but I'm going to try for it anyway. The -- it's top of mind for -- for a lot of people, right? So, this -- this DoE loan can fund up to 80% of -- of a project's costs. Can you maybe give us color or some sort of understanding as far as, you know, how close to this 80% number you think is rational for you to receive as far as total project costs? And then, there's conversation out there, not just about retroactive spending, but about scope maybe being slightly wider, that some of the expenses that have been incurred, as far as the development costs and other associated projects, might also see funding eligibility and some of these other loan packages.
You know, is that a potential opportunity for Plug, you know, as -- as you look to finalize terms with the Department of Energy?
Andy Marsh -- Chief Executive Officer
So, Craig, I'm going to let Paul take the first half and let Sanjay take some of the second half here.
Paul Middleton -- Chief Financial Officer
Yeah, I guess the -- the -- you know, I'm very confident and optimistic. And the reason why is because we've worked extensively with the DoE, you know, the last -- really the last year and a half. And, you know, we've looked at projects we've deployed, we've looked at projects that we're working on, we've used those as proxies to understand what we're doing and how we're doing it, and they serve as good baselines to -- to really have gotten to the point we're at with structuring it the way we have and thinking about how this will work. And so, I feel very good about that coming to fruition and being able to utilize the full 80% and -- and the understanding that we have with -- with the DoE of how these programs work and how the cost, you know, were sourced and how it applies. And so, I feel really good about that.
And, Sanjay, over to you.
Sanjay Shrestha -- Chief Strategy Officer
Yeah. And I think part of you kind of captured it, Craig. I think, look, we're obviously going through final details here. And as you rightfully pointed out, you know, probably don't want to get into too much more detail.
But having said that, there has been -- there's quite a bit of capital that have already been spent to get the project where it is right now. So, I think we feel pretty good about our position of how much money has been spent, whether it's on development effort, whether it's on all the big procurement items that actually goes in getting this project built, right? So, that scenario could unfold, you know, as you right as you pointed out here. But look, given that we're having all this in-depth discussion at this point in time, I think getting into too much more detail than that at this point in time is probably not something we would want to do. But understand your logic and get your point where you're coming from. And a lot of the money has been spent from our equity contribution perspective for that project in Texas, and we feel pretty good about our position there.
PLUG..................................https://stockcharts.com/h-sc/ui?s=PLUG&p=W&b=5&g=0&id=p86431144783
Expect a 5$ close or more, plug got its 3rd wheel, look out above folks $$$$!
Uk...u still watching gevo?...haven't seen your post..lets go plug...give me 75 again
Plug Power receives anticipated $1.6 billion loan guarantee from Department of Engery
May 14, 2024
U.S. Senate Majority Leader Charles E. Schumer today released the following statement on the U.S. Department of Energy announcing a conditional commitment to Plug Power for an up to $1.66 billion loan guarantee to supercharge American-led industry clean hydrogen production:
“This $1.6 billion federal investment will supercharge Plug’s world-class workforce across Upstate New York as Plug builds new facilities across the nation, all powered by the equipment made in New York. Green hydrogen has the potential to help us decarbonize some of the trickiest parts of our economy – from the industrial sector to marine shipping – and with the major federal investments through the Inflation Reduction Act I championed, Upstate NY is poised to lead the way in powering America’s clean energy future. From the electrolyzers made at Plug’s state-of-the-art Gigafactory in Henrietta, NY to the fuel cells manufactured at Plug’s Capital Region facility, this means new growth, new demand for Plug across Upstate NY. With federal investments like this we are unlocking the potential for green hydrogen to power America’s clean energy future, with Plug and Upstate NY leading the way.”
https://www.thebatavian.com/press-release/plug-power-receives-anticipated-16-billion-loan-guarantee-from-department-of-engery
Plug 4.61 +1.72 (+59.52%)
Volume 28,769,966
It does not matter how long this takes, Plug just needs to stay above $5, I think.
I wonder how long all this garbage they toss in takes? While this conditional commitment represents a significant milestone and demonstrates the DOE’s intent to finance the project, certain technical, legal, environmental and financial conditions, including negotiation of definitive financing documents, must be satisfied before funding of the loan guarantee.
LPO works in support of President Biden’s ambitions to drive growth in US manufacturing and innovation, create jobs, and build a clean energy economy that will address climate change and make communities more resilient.
Plug’s projects under the loan will adhere to the Biden Administration’s Justice 40 Initiative. This process includes gathering input from local labor, workforce, and economic development organizations in addition to first responder and non-profit organizations. The plants are expected to create good-paying jobs accessible to a diverse talent supply and help develop workforce skills needed to drive the transition to a clean energy economy.
LPO’s Title 17 Clean Energy Financing Program, which supports innovative energy and supply chain projects and projects that reinvest in existing energy infrastructure, will provide the financing to Plug.
So, what does this actually mean and when will we start receiving the money?
PLUG.......................https://stockcharts.com/h-sc/ui?s=PLUG&p=W&b=5&g=0&id=p86431144783
Sorry, I do not know the details.
I think for now it's more important to join the meme stock rally and to reach/stay above $5.
If Plug’s percentage gain today is close to AMC/GME’s gains, there is a possibility that meme investors think that Plug is among the top meme stocks 😎
BB, Awl416 and all, great news. Question, if I'm not mistaken, it's retroactive, so, any idea how many millions they'll receive for already completed work? If I remember correctly I've seen estimates of $100-200 million, but I don't remember the source.
Sorry Awl416, I did not see your post.
Plug Receives $1.66 Billion Conditional Commitment Loan Guarantee From Department of Energy for Green Hydrogen Development Pipeline
May 14, 2024
https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Receives-1.66-Billion-Conditional-Commitment-Loan-Guarantee-From-Department-of-Energy-for-Green-Hydrogen-Development-Pipeline/default.aspx
Plug 3.54 +0.65 (+22.49%)
Volume 4,757,059
Plug Receives $1.66 Billion Conditional Commitment Loan Guarantee From Department of Energy for Green Hydrogen Development Pipeline
AMC raises $250 million in stock sale during meme rally, shares still up 110% in premarket
PUBLISHED TUE, MAY 14 2024 Yun Li
https://www.cnbc.com/2024/05/14/amc-raises-250-million-in-stock-sale-during-mondays-meme-rally.html
‘A future made in Australia’: Albanese gov earmarks $4.4bn for hydrogen tax credits
By Edward Laity on May 14, 2024
The Australian Federal Budget has earmarked AUD $22.7bn ($15bn) over the next 10 years to support domestic manufacturing, with green hydrogen producers offered an AUD $6.7bn ($4.4bn) tax credit scheme.
Designed as an answer the US’ Inflation Reduction Act (IRA), the Hydrogen Production Tax Incentive will see AUD $6.7bn offered in tax credits to hydrogen producers per kilogramme based on the cost of production. This is expected to be introduced from 2027 to 2028.
In addition, a further AUD $1.3bn ($859m) has been added to allow for another round of the Hydrogen Headstart programme, designed to support “early movers to invest in the industry’s development.”
Under the “Future Made in Australia” package, AUD $1.7bn ($1.1bn) will be provided to promote Net Zero innovation, such as green metals and low carbon fuels, and AUD $32.2m ($21m) to fast-track the initial phase of the Guarantee of Origin scheme, focused on renewable hydrogen.
https://www.h2-view.com/story/a-future-made-in-australia-albanese-gov-earmarks-4-4bn-for-hydrogen-tax-credits/2110054.article/
MARKETS
GameStop, AMC shares jump again in premarket as meme stock craze returns
PUBLISHED TUE, MAY 14 2024 Sam Meredith
https://www.cnbc.com/2024/05/14/gamestop-amc-shares-jump-another-40percent-in-premarket-trading-as-meme-stock-craze-returns.html
May 13, 2024 Form4 Statement of Changes in Beneficial Ownership
Some of them already received free shares yesterday 😂
https://www.ir.plugpower.com/financials/sec-filings/default.aspx
BB, I'd add Andy buy shares as step 1.
GameStop Trader 'Roaring Kitty' Sparks Wall Street Rally In Heavily Shorted Stocks: What You Need To Know Right Now
Benzinga 10h ago
.....
Several names with high short interest ripped higher in the wake of the GameStop rally.
Yes, a simple meme kicked off a buying frenzy in heavily shorted names.
Some of the biggest movers included retail darlings AMC Entertainment Holdings Inc (NYSE:AMC), Koss Corp (NASDAQ:KOSS), Tupperware Brands Corp (NYSE:TUP), VinFast Auto Ltd (NASDAQ:VFS) and BlackBerry Ltd (NYSE:BB) — the usual suspects.
Other big movers on Monday included Beyond Meat Inc (NASDAQ:BYND), Plug Power Inc (NASDAQ:PLUG), QuantumScape Corp (NYSE:QS), IRobot Corp (NASDAQ:IRBT) and Newegg Commerce Inc (NASDAQ:NEGG), among others.
.....
https://www.webull.com/news/10743029500227584
It's not just GameStop. Other meme stocks climbed following social media posts from an account associated with Keith Gill, a.k.a. "Roaring Kitty," for the first time since 2021.
Stock Market News, May 13, 2024: Dow Ends Winning Streak Ahead of Inflation Data
Shares of GameStop surged as meme-stock mania resurfaced
13 mei 2024
Meme Stocks Jump Alongside GameStop After 'Roaring Kitty' Post
By Hannah Miao
It's not just GameStop. Other meme stocks climbed following social media posts from an account associated with Keith Gill, a.k.a. "Roaring Kitty," for the first time since 2021.
Take a look at some meme-stock favorites that made moves Monday:
- Hertz Global Holdings: 12%
- Chewy: 4.3%
- AMC Entertainment: 78%
- Plug Power: 13%
.....
https://www.wsj.com/livecoverage/stock-market-today-dow-jones-05-13-2024/card/meme-stocks-jump-alongside-gamestop-after-roaring-kitty-post-RXYnRkPns36WhfVViaD3?siteid=yhoof2
It’s un-American, even inhumane to short Plug Power, an American hydrogen pioneer, the biggest in the world.
This is from a Plug critic:
“I would love to see this company turning around, Tyler, that would be great for humanity. You and I both have young kids, right? It would be incredible to see something like what Plug Power is doing in terms of how it can be beneficial for the world, really take off right? It would be great.”
(Time: 10:42/11:24)
Plug Power's Annual Update: What You Need to Know Now
By Jason Hall and Tyler Crowe – Jan 28, 2024
https://www.fool.com/investing/2024/01/28/plug-powers-annual-update-what-you-need-to-know-no/
If I were Andy Marsh:
1) Positive press releases during this meme stock rally will accelerate the rally even more.
2) Use ATM when the stock price is above $10. This dilution will support the stock price instead of crashing it.
Turn the ATM curse into a blessing.
GameStop, AMC Entertainment Meme Surge May Trigger Short-Squeeze Buying
Watch These Key Levels in Both Stocks
By TIMOTHY SMITH Published May 13, 2024
…..
Monday’s rally—reportedly triggered by key meme online persona "Roaring Kitty" making his first post on X in three years—caused losses nearing $1 billion for GameStop short sellers, according to data from S3 Partners cited by CNBC. That could fuel further gains in the days ahead driven by a short squeeze, an event where investors rush to cover their positions, putting additional upward pressure on prices.
…..
https://www.investopedia.com/gamestop-amc-meme-surge-may-trigger-short-squeeze-buying-8647950
Have you heard of the 6 stroke ic engine, they are between 45% and 50% thermal efficiency. There is a major drawback of using hydrogen and hydrogen rich fuels. 500 Modern busses emit about the same Nox as 2 1960's era busses. Nixon formed the EPA to put the reforms needed to create these massive 250 fold reductions in Nox emissions. The bottom line is hydrogen and hydrogen rich fuel such as Gevo's isobutanol burn hotter which react with No2 to produce Nox (acid rain or smog)when used in ic engines. This issue seems to have been sweeped under the rug.
I will try to find the source about Amazon, but they talked about AI being used to map the routes for BEV that would maximize availability allowing them to recharge overnight. they have 12000 or more high capacity chargers installed already in the various distribution centers.
GIven Amazons current algorithms anything more than a few hours away will be on a 2 day delivery time allowing them to shuttle the delivery across different vehicles reducing the number of long haul trips they do. Plus they use a lot for drayage on imports on both coasts
Hoping we hear about the 2 new large MH customers - it should be about time for Target to choose (7 years after they continued with recharging batteries)
need to hear about large stationary installations to keep momentum going while he administration gets things sorted out.
Was the EV for short haul and long haul? Seems to me long haul, once there was fueling stations in place would be a good bet to go with a FC truck like what Nikola has. I wonder if they are waiting on a direct combustion hydrogen engine. The longer 45v and the DOE drag on the worse our chances look. I am doubting either of these happen in our favor once Trump gets in office. I'm thinking he may just gut the whole IRA and let the energy companies fight it out like before. With the head start and then Covid things worked in our favor, but since then new technologies and old ones getting better are cheaper competition and we have lost some advantage. If things don't get moving and soon, I fear for Plugs future and my chances of ever seeing my money.
Banger / ruke - A 15% move on NO NEWS ? This is a definite PUMP.
I'm happy to see that you have at least two legitimate companies in your portfolio. Hopefully PLUG won't wipe out all of your other gains.
And PLUG will NOT be "supplying the power to their chargers in grid stretched geographies.".
Amazon is doing serious economic studies on Alt Fuels, and aside from forklifts, Hydrogen is NOT fairing very well.
What was the pump today if I may ask?
I agree with you Jack (and I actually have LIN in my portfolio along with Cummins but not APD!)
I am puzzled about what pump you think is going on with PLUG today though, could it be riding the meme stock wave like in 2020/21?
I was expecting a drop given the Amazon news about their adoption of BEV not FCEV long distance trucks for now, although we could be supplyingthe power to their chargers in grid stretched geographies.
Banger - If LINDE, Air Liquide and Air Products all lost their hydrogen businesses it wouldn't cause much of an upset in their share price, since H2 makes up only a small component of their overall portfolios.
The same thing can't be said about PLUG. Without H2 , I don't think that PLUG can be profitable, whereas the Big 3 have already proven that they know how to make money.
If fact, my beloved LINDE's dividend is worth more than PLUG shares.
And ruke : - PLUG is a PUMP & DUMP Stock. Today is the PUMP. An surely a DUMP will follow.
Every PLUG rally fades within Days.
MORE BAD NEWS for J_B.
Plug is gaining strenght.
If we see the government recognizing and removing the barriers they have put up (at big oils request) to hydrogen adoption then we will be ok.
in an election year though it may be hard to do. They have backed the R&D to some extent but the roll out has been ignored. paying to develop cheaper electrolysers with scaled up production lines is great but you have to allow the electrolysers to be installed in the USA to benefit - or will we import form Europe and South America?.
it isnt just a PLUG issue - even Jacks beloved LIN ,APD and so one will have similar problems but do have other lines of profitable business to dampen the effect
If PLUG cannot scale up the production of H2 then growth will be stagnated. As it is all the lofty projections are out the window and we will be lucky to hit a billion this year. So much promise just wasted and management not buying shares even at $2-$3 has convinced me the future looks much worse than they are likely letting on and we could head to penny stock status and be forced to another reverse split like the early days. We need a Hail Mary pass.
Good to see companies complaining about this. In the USA it is probably worse as well with environmental permitting and sequential permitting which Joe Manchin was trying to change to provide a maximum 12 months for any permits.
Seems NY Stamp may be on indefinite hold due to permits, so not sure where th e next production facility will be after Texas. PLLUG needs to show they will be generating 100 Tons per day that they do not need themselves t provide big cash to the bottom line. It used to be the target for end 2024 and I would suggest it will now be end 2026 when this is achieved (if ever).
At least inEurope some smaller projects are moving ahead with the 5MW Electrolyser popular
‘Substantial’ subsidy programmes being undermined by bureaucracy and poor regulation, says senior executive
'We should be taking FID on one of our largest hydrogen projects this year — this is why we won't be': Uniper
Rachel Parkes Published 13 May 2024
Developers of large-scale green hydrogen projects in Europe are being held up by excessive bureaucracy around subsidies and in some countries, poor regulation, a senior executive from Uniper has complained — citing these problems as the reasons behind the company’s decision to defer a final investment decision (FID) on the first phase of its flagship 500MW H2Maasvlakte renewable H2 project in the Netherlands.
…..
“We need to be able to deliver business cases,” he said. “We are in industry, we should not be here to write funding applications. We should be here to take final investment decisions and deliver projects and after we’ve delivered one we should deliver the next one. This is what we are prevented from doing.”
The company handed back a funding award for H2Maasvlakte from the EU’s Innovation Fund earlier this year when it became clear that it would not take FID — which had been on course to be taken this year.
“In other industries what it is needed to deliver a successful project is a good engineering team, a good commercial team, a good set of customers and suppliers,” Stuckmann told the summit audience. “What you need in hydrogen is a battalion of people who are able to write funding applications. And then you need people who are able to manage funding applications and to answer all the enquiries that are coming in.”
…..
https://www.hydrogeninsight.com/policy/we-should-be-taking-fid-on-one-of-our-largest-hydrogen-projects-this-year-this-is-why-we-wont-be-uniper/2-1-1642756
Maybe Mr. Keith Gill can help the renewables to fight the oil & gas companies suppression/manipulation, so that the renewables can finance themselves and accelerate the energy transition, without waiting for the slow government subsidies.
Gamestop Corp was +110% today.
https://www.webull.com/quote/nyse-gme
JB, I disagree, although PLUG is not mentioned directly in the post, many believe PLUG to fall in the same MEME category as the stocks mentioned in the post, having experienced a similar run in share price around the same time. That is the reason why I gave the post a thumbs-up, before you deleted it, and have now restored it.
B_B - No mention of PLUG or hydrogen !
SPAM .
BB, what's taking so long? the deadline for comments was mid-March.
GameStop Surges as ‘Roaring Kitty’ Return Adds Fuel to Rally
- Video-game firm’s shares set to best March 2021’s 87% gain
- Fellow meme-stock AMC Entertainment also gains on Monday
By Subrat Patnaik 13 mei 2024
GameStop Corp. shares are poised for the kind of surge last seen during the meme-stock mania of 2021 — coinciding with the social media return of one of the stock’s biggest champions during that time.
The stock jumped as much as 38% in premarket trading, putting the video-game firm’s monthly gain on track to top the 87% rally it saw in March 2021. Monday’s move follows a cryptic post on X from Keith Gill, more popularly known by his social media alias “Roaring Kitty.”
Gill gained notoriety in 2021 after posting a series of videos online urging investors to jump on the GameStop bandwagon during the meme-stock frenzy. His post late Sunday evening attracted more than 8 million views in the hours since its publication and is the first from his account since June 2021.
.....
https://www.bloomberg.com/news/articles/2024-05-13/gamestop-surges-as-roaring-kitty-return-adds-fuel-to-rally?srnd=homepage-uk
Hopefully some M&A rumors after 45V rules are finalized.
MORE BAD NEWS !
Struggling PLUG Power will begin losing out to Linde, Air Liquide and APD as soon as the 45 v rules are finalized.
There will be a quick bump, but PLUG cannot compete with the majors and their stronger financial wherewithal .
Beleaguered PLUG, is close to multi-year LOWS and needs an ATM and a government loan in order to stay in business. Think "More DEBT and More Dilution" in order to become a major Hydrogen producer as some of you hope.
In comparison, LINDE is trading close to their 100+ Year HIGHS , and has a long history of profitability, and can fund their Hydrogen expansion without raising Debt or Equity / Dilution. The same is true for Air Liquide and Air Products.
Which companies will have the higher margins ? Companies who can cash-flow projects or companies who need to borrow money at high rates.
IMC | Nikola FCEV Testimonial
Nikola Motor Company
43.7K subscribers
Posted May 9, 2024
"This Class 8 fuel cell gives us enough range to meet our customers' needs and still meet their sustainability goals. This is the product we're going to go with for the foreseeable future," Michael Stanley, Executive Vice President of IMC Logistics talking about the Nikola hydrogen fuel cell electric truck.
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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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