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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.
The revival of renewable stocks, thanks to the everything rally.
Hopefully next week, Exxon traders in the US, London and Brussels will target the new (not so clean) hydrogen leader (Bloom Energy) instead of the old leader (Plug Power).
Bloom up 50% because they adopted AI. Andy? Oh, Andy! You want a short squeeze, then adopt AI and hire a top company to implement it!
Going to 4 this week. Shorts will get burned
I think Jack Bolander is right, Plug/B. Riley is selling at every rally 😭
Especially for you 🤣
May 09, 2024 Form10-Q Quarterly Report
outstanding as of May 7, 2024 was 742,559,081 shares
(page 1/62)
During the three months ended March 31, 2024, the Company sold 79,553,175 shares of common stock at a weighted-average sales price of $3.89 per share for gross proceeds of $309.3 million with related issuance costs of $3.9 million.
(page 16/62)
From March 31, 2024 through the date of filing of the Quarterly Report on Form 10-Q, the Company sold 55,801,292 shares of common stock at a weighted-average sales price of $2.65 per share for gross proceeds of $147.8 million with related issuance costs of $2.6 million.
(page 34/62)
Through the date of filing of the Quarterly Report on Form 10-Q, the Company sold 135,354,467 shares of common stock at a weighted-average sales price of $3.38 per share for gross proceeds of $457.1 million with related issuance costs of $6.5 million. The Company believes that its working capital and cash position, together with its right to direct B. Riley to purchase shares directly from the Company under the ATM Agreement, will be sufficient to fund its on-going operations for a period of at least 12 months subsequent to the issuance of the accompanying condensed consolidated financial statements.
(page 44/62)
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001093691/47e8742c-74d4-4aa9-b92c-6e18d3d14631.pdf
Airbus is gradually expanding its network of hydrogen hubs across France, the UK, Germany, Italy, Sweden, Norway, Singapore, Japan, South Korea and New Zealand.
AIRBUS TO TURN SEVERAL AIRPORTS INTO HYDROGEN HUBS IN NORTH AMERICA
Article written by Laurent Meillaud and translated by Mariem Ben Tili
22/05/2024
In three separate press releases, Airbus has announced agreements with the US airports of Atlanta and Houston and the Canadian airports of Montreal, Toronto and Vancouver. The aim of the cooperation is to develop hydrogen infrastructures by 2035.
Airbus is gradually expanding its network of hydrogen hubs across France, the UK, Germany, Italy, Sweden, Norway, Singapore, Japan, South Korea and New Zealand. The United States was already part of the network, but the aircraft manufacturer is adding new airports. In fact, Airbus has announced an agreement with Houston airports (including George Bush Intercontinental Airport), as well as with the Center for Houston’s Future, which is one of the founders of the HyVelocity hub (one of the 7 selected by the Biden administration).
Another agreement involves Airbus, Delta and Plug with Hartsfield-Jackson Atlanta International Airport. The aim is to carry out a study to determine by 2026 whether the hub can accommodate hydrogen for aircraft refuelling. This is the busiest hub in the world. It is worth noting that Delta has been a partner of Airbus in its ZEROe programme since 2022.
Finally, an agreement has been signed with ZeroAvia and three Canadian airports: Montreal-Trudeau International Airport (YUL), Toronto Pearson International Airport (YYZ) and Vancouver International Airport (YVR). This is the first time that a hydrogen-related memorandum of understanding of this scale has been signed in Canada.
Airbus now has agreements with airports in 13 countries around the world to deploy hydrogen.
https://hydrogentoday.info/en/airbus-hydrogen-hubs/
Quite strange, PLUG puts out all kinds of news but the sp keeps nose diving
Andy Marsh should follow the example of Nikola's CEO, Steve Girsky who bought 1 million NKLA shares yesterday.
The DOE LOAN Rally ..... Fades !
Not enough the reverse the Trend.
A Nothing Burger. again.
Nice, to see my hometown doing this, but at best 2035 so just another cost with no revenue attached at this point. I thought we had been working with Airbus for a few years now. I wonder if the smaller operator for short trips is coming along and if they will pass muster with the FAA in the next few years?
Plug, Airbus, Delta, Hartsfield-Jackson Atlanta International Airport Study Feasibility of Hydrogen Hub at World’s Busiest Airport
May 21, 2024
Plug contributes deep expertise in hydrogen production and infrastructure as well as aviation sector applications
LATHAM, N.Y., May 21, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, Airbus, Hartsfield-Jackson Atlanta International Airport (ATL), and Delta Air Lines have joined forces to study the feasibility of a hydrogen-based hub at the world’s busiest airport in support of advancing a more sustainable future of travel.
The study, which was preliminarily launched earlier this year, will help define the infrastructure, operational viability, and safety and security requirements needed to implement hydrogen as a fuel source for future aircraft operations at ATL. It will also contribute to the understanding of hydrogen supply and infrastructure requirements at airports around the world.
The use of hydrogen to power future aircraft could ultimately eliminate aircraft CO2 emissions in the air, while also decarbonizing air transport activities on the ground. This study reflects the partners’ ambition to use their respective expertise to support the decarbonization of the aviation industry.
Plug is a leading provider of equipment and end-to-end, turnkey solutions for the global green hydrogen economy. The company is building an end-to-end green hydrogen ecosystem including the manufacture of electrolyzers, fuel cells and hydrogen facilities across the United States to decarbonize a variety of industrial, transportation and energy needs and applications worldwide.
“The potential to decarbonize aviation with green hydrogen is substantial,” noted Plug CEO Andy Marsh. “We are pleased to contribute our expertise in hydrogen infrastructure and applications development to this pioneering effort at Hartsfield-Jackson Atlanta International Airport. We have a ready-made supply of green hydrogen to support the airport from our new Woodbine, Georgia, production plant, the largest green hydrogen plant in the U.S.”
Airbus pioneers sustainable aerospace for a safe and united world. The company constantly innovates to provide efficient and technologically advanced solutions in aerospace. Airbus is currently developing the first hydrogen-powered commercial aircraft with the ambition to enter into service in 2035 and promoting the Hydrogen Hubs at Airports concept.
“The U.S. has easy and massive access to additional renewable energies to produce green hydrogen, and airports are looking for a diverse and balanced energy mix to help reduce the impact of aviation on the environment. Hydrogen is a key enabler for this,” said Karine Guénan, Airbus’ Vice President ZEROe Hydrogen Ecosystem. “The journey to prepare airport infrastructure to support hydrogen and low carbon aviation begins on the ground with studies like this one, working with pioneer players like Delta, Plug and the world’s busiest airport.”
“Hartsfield-Jackson has long been a leader in the commercial aviation industry and it only makes sense that we help lead this effort,” said ATL Senior Deputy General Manager Michael Smith. “If hydrogen proves to be a viable alternative, ATL will investigate options to update infrastructure needs in order to implement the new technology. We are thrilled to participate in this study and look forward to the results.”
As part of the study, ATL is providing the current airport layout plan and organization and will share updates on future developments and findings.
Delta is the largest airline operating at the world’s busiest airport and offers one of the largest commercial airline schedules globally. Delta has been a long-standing core partner in the Airbus ZEROe program since 2022 when it signed on to provide expertise to identify fleet and network expectations, and the operational and infrastructure requirements needed to develop commercial aircraft powered by hydrogen fuel. Delta’s Chief Sustainability Officer Amelia Deluca said this study is part of Delta’s ongoing commitment and that no one company can solve the industry’s sustainability challenges alone.
“All aviation stakeholders need to explore new paths in every direction today if the industry is going to reach a more sustainable future of travel by 2050,” she said. “While we work to scale sustainable aviation fuel to power today’s aircraft, hydrogen is the key to unlocking the decarbonized future of flight and the next generation of aviation. That’s why we are excited to be part of this journey to help map the industry’s hydrogen blueprints with partners who share our passion for connecting the world.”
Airbus launched the “Hydrogen Hub at Airports” program to jumpstart research into infrastructure requirements and low-carbon airport operations across the entire value chain. To date, agreements have been signed with partners and airports in ten countries including France, Germany, Italy, Japan, New Zealand, Norway, Singapore, South Korea, Sweden and the United Kingdom.
The study in Atlanta is scheduled for completion at the end of 2026.
https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Airbus-Delta-Hartsfield-Jackson-Atlanta-International-Airport-Study-Feasibility-of-Hydrogen-Hub-at-Worlds-Busiest-Airport/default.aspx
Good news from Plug Power partner Nikola.
NIKOLA AND AiLO LOGISTICS ANNOUNCE ORDER FOR 100 HYDROGEN FUEL CELL ELECTRIC TRUCKS
May 21 2024
https://ih.advfn.com/stock-market/NASDAQ/nikola-NKLA/stock-news/93897043/nikola-and-ailo-logistics-announce-order-for-100-h
Steve - Batteries are cheaper and so is electricity ; much cheaper.
And WTM, I am watching the advances in Capacitors . We are seeing much quicker charging and much longer ranges.
Steve, agree, and if they can make them lighter and recharge faster, then I really start to worry.
I think the FC's cost a bit more than the batteries and that would be a big factor.
Steve, the Bosch hydrogen fuel cells in Nikola's hydrogen FCEV trucks are rated for 20,000 hrs or 1 million miles, that's 1.5 million kilometers, matching the rating of the batteries in the video in your post. Another hydrogen fuel cell company, Advent, says their fuel cells are rated for 30,000 hours, these fuel cells were developed with funding from the DOE.
This could hurt our business in long haul and vans and in the storage industry. Worried about the future unless something revolutionary happens soon. Even makes you wonder why the DOE or Hubs will be just a waste of Government funds?
Steve, the 3,000 hours endurance maintaining a 82% efficiency does not seem impressive to me. Either I'm missing something, or it may be one of the known/planned areas of improvement to make it commercially viable.
Link to article https://bioenergytimes.com/green-hydrogen-production-cost-to-decline-with-new-discovery-by-japan/
From Japan= But a breakthrough from the RIKEN Center for Sustainable Resource Science (CSRS) in Japan could be about to change everything.
Their new technique reduces the amount of iridium needed in green hydrogen production by a whopping 95% – a game-changer for scaling up this transformative technology.
Not sure how much we use, but at $174.33 per gram lowering the cost to $8.72 would have to be huge. At a Troy ounce that saves $5465. Anyone know, how much we use a year?
I think Plug Power will return to the Russell 2000 at the end of June?
Russell Rebalancing: What You Need To Know
By Wayne Duggan May 8, 2024
On June 28, the popular Russell indexes will get their annual refresh, an event that has historically triggered major market volatility in dozens of impacted stocks.
Every year on the fourth Friday of June, the Russell 1000, Russell 2000, Russell 3000 and other Russell indexes are reconstituted. FTSE Russell gives investors a heads up about what moves they should expect.
The day of the annual Russell reconstitution has often been one of the highest-volume trading days of the year, largely thanks to institutional investors and funds that track the Russell indexes adjusting their holdings to reflect the updates.
This year, the Russell U.S. Index reconstitution will be final after the market closes on June 28.
…..
Next, on May 24, FTSE Russell discloses preliminary lists of the indexes to the marketplace. The preliminary lineups of which stocks are in and which are out of each index is customarily posted online after 6 p.m. eastern time.
Starting the following Friday, FTSE Russell releases updated but still preliminary index membership lists. Those updates are made on May 31, June 7, June 14 and June 21, all typically after 6 p.m. Finalization is June 28.
Meanwhile, on Monday, June 10, the reconstitution lock-down period begins. From that point, the rebalanced membership lists are considered final, pending any additional updates during the remainder of June.
…..
FTSE Russell utilizes a process known as banding to minimize reclassifications among stocks caused by small changes in market capitalization. An incumbent Russell index member will only be moved from one index to another if its updated market cap falls outside a 5% band surrounding the updated cutoff point for inclusion in a particular index.
…..
https://www.forbes.com/advisor/investing/russell-index-rebalancing/
UK, agree. I would add that the article highlights the huge disparity in assistance between hydrogen relative to battery technologies. Link to article https://www.canarymedia.com/articles/hydrogen/plug-power-lands-1.7billion-doe-loan-guarantee-to-boost-hydrogen-production
Relevant excerpts:
"The up to $1.66 billion in loan guarantees for Plug Power would come from DOE’s Loan Programs Office, which has issued $42.1 billion in loans and loan guarantees as of December 2023 to back battery manufacturers, battery materials mining, processing and recycling facilities, virtual power plant developers, and other clean technology investments.
Other hydrogen projects winning Loan Programs Office backing include the Advanced Clean Energy Storage project in Utah, which received a $504.4 million loan guarantee, and Monolith, a company expanding a Nebraska facility that uses renewable energy to power a pyrolysis process that converts fossil gas to hydrogen, which received a $1.04 billion loan guarantee."
one of the better articles about the loan and even covers other companies and the loans they have or are about to receive.
I am wondering if this will allow PLUG to get private project financing now to start Texas back up with the knowledge that the federal lan would replace or back stop that funding later (by end of the year). Gaining an extra 6 month start is a significant impact to 2025’s numbers.
Plug fell along with the meme stocks.
If approved, the loan guarantee would cover any losses to loans Plug Power receives from private-sector lenders, allowing it to lower its cost of capital.
14 May 2024
https://www.canarymedia.com/articles/hydrogen/plug-power-lands-1.7billion-doe-loan-guarantee-to-boost-hydrogen-production
Thanks WTM brother!
Message from David Wenger, Mission Hydrogen GmbH.
Happy Sunday everyone!
Germany has broken a new record in solar electricity generation this week. 51.2 GW, on Wednesday at 1pm.
Wow. I was taught at university that “PV is good, but it’s never going to happen. It’s too expensive, and it always will be.” That was 20-something years ago.
Things are changing rapidly.
Will hydrogen be a part of the energy transition? Maybe no. Probably yes.
The best way to predict the future is to create it.
And if you want to develop or sell products to the hydrogen industry, you need knowledge and real life experience.
So here’s what I have to offer for free:
1. Webinar with the Alberta Motor Transportation Association on their “Real Life Experience with Fuel Cell Trucks” in the Canadian winter: www.mission-hydrogen.com
2. Webinar with Draeger on the “Hydrogen Safety in FCEV Workshops” (you can use that knowledge for any kind of hydrogen workshop, repair center, bus yard or truck stop): www.mission-hydrogen.com
3. Hydrogen Online Workshop 2024: 24 hours, 50+ keynotes, panel discussions and expert sessions with some of the best hydrogen experts in the world: www.hydrogen-online-workshop.com/program (there’s a - unfortunately small – “Add to Calendar” icon next to every presentation that converts the time zones automatically)
4. Webinar on “Best of Hydrogen Online Workshop 2024” where I will share a summary of the 24 hours with you and answer all kinds of hydrogen related questions: www.mission-hydrogen.com
5. Webinar on “Hydrogen in the UK” with different speakers to give you an overview of the hydrogen activities mainly in England and Scotland. This webinar is not open for registration yet, but you can mark the 19th of June in your calendar.
6. Webinar with Parker on “Water Treatment for Electrolyzers”: www.mission-hydrogen.com
7. Webinar with Toyota on “The Toyota Hydrogen Strategy for Heavy Duty”: www.mission-hydrogen.com
I want you to take 3 minutes of your valuable time and sign up. It’s free, and there is no catch.
If you think that one of the events is valuable for one of your friends or colleagues, please forward this email. It just takes you 5 seconds, but it might change a lot.
Thank you for your time, and have a nice rest of your Sunday.
David
Mission Hydrogen GmbH
David Wenger
Einsteinstrasse 55
89077 Ulm
Germany
Repost from ADN board.
Turning to Hydrogen is Not Easy, Says Bloomberg – What's Happening in Greece
18 May 2024
https://www.energia.gr/article/218778/h-strofh-pros-to-ydrogono-den-einai-eykolh-ypothesh-leei-to-bloomberg-ti-ginetai-sthn-ellada
Experts agree that hydrogen should be in the green transition toolbox if the planet is to reach the goal of net-zero emissions in sectors such as steel, aviation and shipping. However, the few early projects focused on using hydrogen to produce energy in Europe show that switching to hydrogen will not be as easy – at least not as its proponents present it
This is what Bloomgerg Green argues in its analysis, citing as an example the case of the Leipzig power plant inaugurated in October.
At the same time, in Greece, large groups are launching hydrogen development projects, which will become a reality after 2027.
Bloomberg Green makes special mention of the Leipzig plant, which it writes "is the first, tiny part of a dream energy system designed by policymakers across Europe who rely on green fuel to meet some of the world's most aggressive climate goals."
This dream is based on converting newly built polluting infrastructure to burn hydrogen, a fuel that will be many times more expensive than natural gas and that no one has figured out how to move safely and cheaply in bulk.
Germany plans to build more than 20 power plants much larger than the one in Leipzig, which it advertises as the continent's first "hydrogen-ready" facility. They will be supplied by state-of-the-art LNG terminals equipped to handle specialized clean fuels, such as ammonia, and a network of dedicated pipes stretching for about 9,600 kilometers.
By following this model, governments and companies that struggle to meet deadlines for climate goals but are concerned about energy security can still build billions of dollars' worth of natural gas infrastructure as long as it's "hydrogen-ready."
Gas-dependent economies including Germany, the Netherlands, Spain, Italy and Britain are among the biggest proponents for using hydrogen, and some have plans to use it to generate electricity.
But, Bloomberg points out, there is no official definition of what makes a "hydrogen-ready" facility ultimately open the door to greenwashing.
For power plants, hydrogen combustion has not even been tested at scale.
"There has not yet been any measurable progress in building gas-fired, hydrogen-ready power plants," said Eric Heymann, an economist at Deutsche Bank Research.
The issue of transport
Next, the problem of hydrogen transport has not been solved. The Leipzig plant is not connected to the grid (and has yet to install its own electrolyzers), which means that the highly flammable fuel will have to be transported by truck until the second part of the government's grand plan is carried out. It is building a €1 billion liquefied natural gas terminal in Brunsbuettel, a city along the North Sea that will initially import LNG but will be designed to handle clean fuels in the future.
Hydrogen can only be liquefied at -253C (-423F), far beyond the capabilities of current LNG ships. So Germany plans to import hydrogen in the form of liquid ammonia, a combination of hydrogen and nitrogen that can more easily be converted into liquid. But ammonia is toxic, and handling requires better ventilation systems. Many components at the terminal, including control valves and fire and gas sensors, as well as embedded devices — most of which have not been tested with ammonia — will also need upgrades, according to Fraunhofer ISI, an energy think tank.
The difference with renewables
Industries can be built from scratch with enough support. The renewable energy industry that faced skepticism 20 years ago is now booming.
The difference is renewables harness wind and solar energy to generate clean electricity. Both sources already exist and are in use and are available to the public.
Green hydrogen, on the other hand, will require building more solar and wind farms when, in many cases, it would be simpler to simply use that clean energy directly. By the time hydrogen is manufactured, stored and burned to produce electricity again, there is a 70% loss of energy compared to the original, and the cost has tripled.
Green hydrogen will likely only be useful towards the end of the energy transition, when primary electricity demand is comfortably met by renewables, said Pierre Huns, the governor of Belgium's central bank. "We're not going to have green hydrogen in large quantities and cheap prices before that, because of course we have to generate more electricity to power it," he said.
This is, perhaps, why most green hydrogen projects have so far been left on paper or on the websites of major gas companies such as Equinor ASA, Shell Plc and Sinopec.
A gap is emerging between the scale of political ambition and the money companies spend on building the projects. Just 4% of proposed global projects were financially finalized in 2023, according to the International Energy Agency, while others have already failed.
Big bet
And the truth is that even those who support and promote the use of hydrogen do not hide that it is possible that the world will never produce the green fuel at a low enough price to replace the gas. However, they still support the construction of "hydrogen-ready" gas infrastructure in the hope that the market will catch up.
It's a big bet. If they are wrong, the world risks being locked into decades of fossil fuel pollution and blowing up previous emissions reduction targets. Doing so would result in catastrophic climate impacts, Bloomberg analysts warn.
Germany, for example, plans to allocate up to 20 billion euros to make the transition of utilities to hydrogen economically viable, as the country will urgently need a reserve for periods when sun and wind are not available. If these subsidies don't go through, "there is a risk that power plants will simply keep running on gas," said Claudia Günther, head of research for Germany at the Aurora Energy Research think tank.
Despite having already scrapped three hydrogen projects, German utility Uniper SE is preparing to build a new fleet of "hydrogen-ready" gas plants.
Robert Habeck, Germany's economy and climate action minister, says his country has already scaled back its hydrogen plans.
Greece "sees" hydrogen after 2027
From 2027 onwards hydrogen will... The major energy players are setting a green course, but without much haste, as it is necessary to ensure the sustainability of their investments in the context of the green transition.
Helleniq Energy
Helleniq Energy is in the works to develop an electrolysis unit at the Group's refineries in Thessaloniki, aiming at the production of "green" hydrogen for the subsequent production of ammonia or methanol, with their main purpose being used as fuel on ships.
The group plans to create a photovoltaic park with a capacity of 200-300 MW in close proximity to the company's facilities, in order to provide "green" energy to the electrolysis plant estimated at a capacity of up to 100 MW.
TITAN
TITAN's H2CEM project will be subsidized with €60 million. It aims to produce green hydrogen through electrolysis using RES plants that will be installed in three of the company's plants.
The project foresees the installation and operation of green hydrogen production units through electrolysis for TITAN's cement plants in Greece (Kamari, Viotia, Drepano, Achaia and Efkarpia, Thessaloniki). The units, which will be powered by renewable electricity sources, will have a total capacity of at least 3.5 MW.
Motor Oil
Motor Oil's "Blue Med" program aims to create a low-emission energy hub in the Eastern Mediterranean that includes the production of green hydrogen through a 30 megawatt plant, CO2 capture, their transport and distribution, and ultimately their use in industry and transport.
"Blue Med" is being implemented as part of the IRIS project, set for completion in 2028, which will integrate several innovative industrial processes on a scale never before implemented in an independent refinery. IRIS will receive €127 million in funding. euros from the European Commission.
Theellenic Hydrogen
The "green" hydrogen unit of "Hellenic Hydrogen" (joint venture between PPC and Motor Oil) is expected to be put into operation in 2027 in Western Macedonia, in an area of the steam power station in Amyndeon.
The investment will bring a benefit of EUR 100 million to the local economy. annually (through the improvement of the import-export balance, the reduction of carbon dioxide emissions and taxation and taking into account multipliers) creating the conditions for the creation of 40-50 direct and about 500 indirect jobs in the region.
Advent
Advevt's promising investment (the company with a presence on the Nasdaq has specialized in high-performance fuel cell technology) concerning a green hydrogen production plant in Kozani is progressing slowly. The Green HiPo project includes the development, design and manufacture of HT-PEM fuel cells and state-of-the-art electrolyzers for the production of electricity and green hydrogen, respectively.
The company, which will initially be subsidized with €24 million. Although it received an official invitation from the Greek Ministry of Finance in February to submit the necessary supporting documents, it has not shown much zeal to run the procedures.
DESFA
DESFA, within the borders, has in the works the project, with a budget of €1 billion. and a timetable for completion by 2030, "Dedicated H2 Backbone" for the construction of a new 540 km pipeline. exclusively for the transport of clean hydrogen. The pipeline is expected to start from the southern part of Greece and reach the interconnection point of the NNGS with Bulgaria, where it will be connected to the exclusive hydrogen pipeline of Bulgartransgaz, providing the possibility for hydrogen imports and exports to and from Bulgaria.
The new pipeline lays the foundations of the new energy era, in light of the green transition, allowing the construction of a national hydrogen transport system, as it can be connected to the pipeline to Western Macedonia and the interconnector between Greece and North Macedonia.
At the same time, DESFA is preparing technical feasibility studies regarding the mega project of the "green" hydrogen pipeline between Greece and Bulgaria.
B_B - Nice recovery !
For public company CEOs, new rules require more details about pay
Plug Power's Andy Marsh earns the most, although under the SEC's new disclosure rules, he lost $4 million due to the plunge in the company's stock price
By Larry RulisonMay 17, 2024
Plug Power CEO Andy Marsh at Plug Power’s new Slingerlands manufacturing plant. Marsh, who is planning to move the company's headquarters from Latham to the new and much larger Slingerlands location, earned $7.25 million in total compensation in 2023, the most of any of the CEOs running publicly-traded companies in the region.
.....
https://www.timesunion.com/business/article/albany-area-s-top-paid-ceos-face-new-pay-19459188.php
Dayal is highly bullish about the stock and expects to see the share price appreciate by over 420% in the next twelve months.
Plug Power Stock: H.C. Wainwright Stays Bullish After DOE’s Conditional Commitment
Sheryl Sheth May 17, 2024
H.C. Wainwright analyst Amit Dayal remains bullish on Plug Power (NASDAQ:PLUG) stock after the company received receipt of a conditional commitment of up to $1.66 billion loan guarantee from the Department of Energy (DOE). Dayal has the highest price target among all analysts covering PLUG stock on TipRanks. His price target of $18 implies a colossal 424.8% upside potential from current levels.
Plug Power is one of the largest green hydrogen companies in North America and Europe. Its hydrogen fuel cell technology is used in electric mobility and stationary power markets.
Dayal Upbeat on Plug Power’s Gains from the Funding
Dayal is encouraged that the DOE’s funding would be used by Plug Power to finance the build-out and deployment of up to six green hydrogen production facilities. Although the funding is based on meeting certain conditions, the analyst thinks that there is a high probability that it would turn into definitive financing. Dayal’s optimism stems from various factors including regulatory tailwinds, the rising need for electricity, and increased interest in adopting clean fuels as the world moves toward green energy resources.
Importantly, Dayal noted that Plug Power should prioritize its Texas plant under the program first, as the company has already spent $300 million in capex on it. Also, PLUG will have eight more years to submit the remaining five projects.
Dayal Forecasts Improved Financials
Even though Plug Power’s Q1 results disappointed investors, Dayal sees improving financials following the DOE’s funding. The analyst forecasts net revenues to grow at a CAGR (compound annual growth rate) of 39.4%, increasing from $924 million in 2024 to $25.6 billion in 2034. He also expects Plug Power’s gross margins to improve from the negative levels seen today to 16% in 2025 and reach or exceed 20% by 2027.
At the same time, Dayal projects Plug Power’s operating costs to grow at a CAGR of 17.3% to $2.3 billion in 2034.
Is PLUG a Good Stock to Buy?
Not all analysts are as bullish about PLUG stock as Dayal. PLUG has a Hold consensus rating on TipRanks based on nine Buys, 11 Holds, and four Sell ratings. The average Plug Power price target of $4.96 implies 44.6% upside potential from current levels. Shares have plunged 57.5% in the past year.
Key Takeaways
Plug Power is poised to become a large hydrogen player with the support of the DOE’s funding. Dayal is highly bullish about the stock and expects to see the share price appreciate by over 420% in the next twelve months. Given the DOE’s funding, investors can consider this green hydrogen stock after thorough research.
https://www.tipranks.com/news/plug-power-stock-h-c-wainwright-stays-bullish-after-does-conditional-commitment
ACCIONA & plug
https://www.acciona-plug.com/
VALLEY
H2V NAVARRA
Green hydrogen production plant of 25 MW
Located in Navarra (Spain), it will produce 3,880 tons of renewable-origin hydrogen annually and is set to start operating by the end of 2024.
Plug Power and Olin Corporation Joint Venture
https://hidrogenii.com/
45V is retroactive!
5. Section 45V does not specify an earliest date on which a qualified clean hydrogen production facility must begin construction or be placed in service to be eligible to claim the section 45V credit. However, the section 45V credit is available for qualified clean hydrogen produced after December 31, 2022.
Section 45V Credit for Production of Clean Hydrogen; Section 48(a)(15) Election To Treat Clean Hydrogen Production Facilities as Energy Property
A Proposed Rule by the Internal Revenue Service on 12/26/2023
https://www.federalregister.gov/documents/2023/12/26/2023-28359/section-45v-credit-for-production-of-clean-hydrogen-section-48a15-election-to-treat-clean-hydrogen
Per the draft 45v, plug will find it tough to stay in business. However, final rules are likely to be at least as good for business as Europe's (otherwise all the doe hubs will rust). In this case, I estimate sales will rise 3x-10x over 5 yrs for plug and most of the industry.
Are there any estimates as to how much 45V would be worth to PLUG?
BB, thank you for the insightful response, as always.
The Clean Vehicle Tax Credit took exactly 4 months from “public comments” (January 3, 2024) to “final regulations” (May 3, 2024).
But with the 45V there was a second public consultation until 13 May (first consultation was until 26 February).
Developers and members of the public now have until 13 May to comment on the new PER proposals.
This means that it is highly unlikely that the controversial 45V regulations will be finalised until after this new consultation ends and is analysed by government officials — suggesting that regulations are unlikely to be finalised until June at the earliest.
Could newly announced public consultation on US hydrogen tax credits delay their roll-out?
12 April 2024
https://www.hydrogeninsight.com/policy/could-newly-announced-public-consultation-on-us-hydrogen-tax-credits-delay-their-roll-out-/2-1-1626130
Written or electronic comments must be received by February 26, 2024. The public hearing on these proposed regulations is scheduled to be held on March 25, 2024, at 10 a.m. (ET).
Section 45V Credit for Production of Clean Hydrogen; Section 48(a)(15) Election To Treat Clean Hydrogen Production Facilities as Energy Property
A Proposed Rule by the Internal Revenue Service on 12/26/2023
https://www.federalregister.gov/documents/2023/12/26/2023-28359/section-45v-credit-for-production-of-clean-hydrogen-section-48a15-election-to-treat-clean-hydrogen
------------------------------
On May 3, 2024, the U.S. Department of Treasury (Treasury) and Internal Revenue Service (IRS) released final regulations regarding the clean vehicle tax credits for electric vehicles (EV) under Section 30D (Section 30D Credit) of the Internal Revenue Code of 1986, as amended (the “Code” and “Final Regulations”)1.
U.S. Treasury Releases Final Electric Vehicle Tax Credit Regulations
May 10, 2024
https://www.sidley.com/en/insights/newsupdates/2024/05/us-treasury-releases-final-electric-vehicle-tax-credit-regulations
Request for public feedback
The DOE proposed rules are open for public comment until January 3, 2024.
New Details on the Section 30D Clean Vehicle Tax Credit's Foreign Entity of Concern Restrictions
14 December 2023
https://www.whitecase.com/insight-alert/new-details-section-30d-clean-vehicle-tax-credits-foreign-entity-concern-restrictions
one of the most efficient green hydrogen and green ammonia projects globally
More work for Plug Power on hydrogen-to-ammonia project in Australia
May 17, 2024, by Aida Cucuk
U.S. Plug Power has signed a basic engineering and design package (BEDP) with Australian Allied Green Ammonia (AGA) for a 3-gigawatt (GW) electrolyzer plant supplying hydrogen to AGA’s planned ammonia facility proposed for the Northern Territory of Australia.
.....
Alfred Benedict, Founder and Managing Director of AGA, stated: “This BEDP agreement is a significant milestone in the development of Allied Green’s facility, which will be one of the most efficient green hydrogen and green ammonia projects globally. Given our respective track records in delivering clean energy infrastructure, this agreement is a critical first step and a testament to the alignment of our respective visions to provide tangible solutions that enable the world to achieve net-zero.”
.....
https://www.offshore-energy.biz/more-work-for-plug-power-on-hydrogen-to-ammonia-project-in-australia/
Steve - Let's lay off a bunch of people and pay ourselves great BIG Bonuses ... Because we deserve it.
Retail stock holders are the suckers Steve while all these scoundrels make merry with investors money.
Bunch of rascals.
Are you F'ing kidding me? How does the Board allow this BS. Paul could not get a job with a Subway. He has done a horrible job. So, sick of them getting paid when they cannot even make a profit, and this just sets us back even more! This is why we need a shareholder on the board to put these bastards feet to the fire.
Banger - Every PR is the same. Weak on details and metrics . And then ... Gotcha !
Walmart. Amazon. Riley. Every deal turns out not to be as good as originally advertised.
Now ANDY is guesstimating 4-6 months ? Like the Georgia Plant ?
I'll take the OVER, Please !
Andy put some details on the process now and it includes an environmental impact stucy for Texas. I thought that was done years ago otherwise they wouldn't be allowed to have done the preparation work. Any study like that adds months to the timeline - Andy seemed to think 4-6 and in parallel the paperwork and other conditions can be addressed.
market realizing that the loan money wont come through until year end.
BUT it probably allows other forms of project financing to be secured with the loan money paying it off, but at what interest rate?
wish we ha a CEO who could actually understand cash and interest rates etc.
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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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