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Thank you, jammy. I know what asset reallocation is.
But what I was doing was correcting some False Information that you posted:
jammy32
Friday, January 27, 2023 6:27:59 AM
I think black rock is buying more shares. That’s a good thing.
HY24 PARTNERS SUCCEEDS IN RAISING WORLD’S LARGEST ROUND OF FINANCING IN HYDROGEN SECTOR
By Anela Dokso
January 13, 2023
https://energynews.biz/hy24-partners-succeeds-in-raising-worlds-largest-round-of-financing-in-hydrogen-sector/
Hy24 Partners is a recently established joint venture between FiveT Hydrogen and Ardian, the top private investment firm in the world. FiveT Hydrogen is the investment partner and investor member of the Hydrogen Council who enables clean hydrogen.
The goal of Hy24 is to support the global deployment of the hydrogen energy vector by making investments across the whole clean hydrogen value chain, beginning with infrastructure, one of the most difficult components of market scale up.
In light of this, Hy24 established “The Clean H2 Infra Fund,” a €2 billion infrastructure fund devoted to investing in vital infrastructures, and closed it within a year. The Fund will make investments in a variety of initiatives, ranging from upstream ones like the production of renewable and low-carbon hydrogen to downstream ones like captive fleet and refueling facilities.
The fund’s portfolio is geographically diversified (Europe, Americas and Asia). With the help of its major strategic investors, a seasoned team with a track record in those industries, and a unique combination of financial firepower (leveraging on debt, subsidies, and co-investment) and sector know-how, Hy24 hopes to mobilize up to €20 billion of investment capacity over the next six years.
COMBINATION OF FINANCIAL AND INDUSTRIAL INVESTORS
The founding anchor investors, Air Liquide, VINCI Concessions, TotalEnergies, Plug Power, Chart Industries, and Baker Hughes, contributed to the foundation of the Fund. Since then, it has drawn more than 50 notable investors from 13 nations in the Americas, Europe, and Asia, including significant industrial businesses, banks, pension funds, and insurance companies. LOTTE Chemical, Airbus, Snam, Enagás, GRTgaz (joined as an anchor partner), and CMA CGM Group are a few examples of industrial anchor investors. AXA, Crédit Agricole Assurances, CCR, Allianz, CDPQ, JBIC, and Border to Coast Pensions Partnership are a few examples of financial anchor investors. ERAFP, Nuveen, Ballard, Schaeffler, Société Générale Assurances, Groupe ADP, EDF, Norinchukin, Caisse des dépôts, DBJ, Itochu, Groupama, and BBVA are some more significant investors. The majority of these benevolent industrial firms are Hydrogen Council members.
Given that 50% of the Fund’s commitments are made by industrial investors, which is unusual for businesses that typically deploy their own hydrogen projects, this exceptional group of financial and industrially significant investors gives Hy24 a unique position within the ecosystem.
FROM DESIRE TO ACTION
The money obtained through the Fund has already begun to be used: The Fund took part in the €110 million fundraising effort of H2 MOBILITY Deutschland, the company in charge of running the largest hydrogen station network in Europe. The Fund additionally took part in Hy2Gen’s €200 million funding round as a producer of decarbonized hydrogen and its derivatives with assets in France, Germany, Norway, and Canada. A 30% investment in Enagás Renovable, a top developer of renewable hydrogen projects and a subsidiary of Enagás, the operator of the Spanish Transmission System, has also been bought by the Fund.
Unprecedented growth in the hydrogen sector is being backed in large part by government agencies that are establishing the market’s legal foundation. In order to compete with European incentives and packages, the Biden Administration in the US signed the Inflation Reduction Act (IRA) in August, giving the clean hydrogen economy a significant boost.
Here’s what’s right with PLUG. Up 30% YTD. Deals with huge corporations. Revenue is growing which will eventually improve margins. PLUG had to spend some money to make a ton more money.
It’s called asset reallocation. An example would be a fund wants to own 100 Million of Plug. YTD, that 100M is now worth 130 M. They’re are just reallocating. Happens all the time. No denying that PLUG is up 30% YTD. Go PLUG
I think that TES hydrogen might be taking PLUGs place with FFI and electrolyzers.
January effect.....
Andy is friends with Joe m..whom I'm impressed with and good ole chuck...Andy needs some help with getting these projects on track...I listened to Barry on cnbc yesterday he's having trouble getting certain items to complete massive apartment complexs...I believe we could be on the cat bird seat with plug power and friends in high places.
I have figured out exactly what is Wrong with PLUG !
Here is a list of some of our Largest Customers and Largest Deals ... Not ONE of these has a positive ROI:
Amazon
Walmart
Renault
Linde
Gaussin
MULAG
Energy OR
Nikola
Microsoft
Accione
And there are others as well. All Negative ROI?
If PLUG could do deals with real value and ROI's this would be a good investment.
Elon is not interested in PLUG or Hydrogen except as a fuel for his Space-X company.
Certainly not for on-road applications.
Have you seen Tesla's latest earnings? No need for Hydrogen or fuel cells.
Elon in Washington to talk electrification with Whitehouse officials yesterdayl. Andy mentioned Elon at plug update Wednesday. Maybe Mr. Shuemer and Mr Manchin had a long talk with him...go plug bring tesla over to our side.
The law firm is on a fishing expedition labeled "investigation" to land deeply irritated stockholders. IMO, lawyers are much like catfish being bottom dwelling scum suckers.
The PLUG Board know the problem. Andy Marsh knows that he's the problem.
Black Rock is into all this ESG related stuff AND rather than initiate a hostile takeover they sell to minimize exposure.
Andy Marsh must go.
jammy - Why is Blackrock dumping shares? Nearly 8 million share Year to date.
PLUG is up over 30 percent YTD. It’s very obvious when you look at the numbers that the stock is turning around. Love being long PLUG and to those shorting, sucks being down 30% YTD.
Day traders pound this, in/out both ways, so it makes money
Harry - a recovery on external factors won't last. Every PLUG Rally seems to fade quickly.
Nice rebound today. Lets see the futures on monday for another play here
Velcro, the market doesn't seem to care.
Investigation of possible PLUG stock fraud https://www.businesswire.com/news/home/20230127005414/en/Investigation-Alert-Kessler-Topaz-Meltzer-Check-LLP-is-Investigating-Securities-Fraud-Claims-on-Behalf-of-Investors-of-Plug-Power-Inc.-NASDAQ-PLUG
Better if Andy Marsh would retire.
It's the naked shorting march in front of the sec in washington!
Yes. Tesla lifting all boats.
UK, agree, thanks.
it is interesting though that the Fortescue Nikola agreement doesn't actually commit to any business.
Nikola get right to take off supply from FFI plants but not committed to it (unlike PLUG deal).
and Nikola can explore using them (instead of NEL or PLUG) for their own plants but nothing committed.
my point is when is it officially ended though
we may have informed FFI of our intent to NOT continue with the factory investment but FFI need our electrolysers until they can make their own and th JV no doubt had good commercial terms (you know we love to give away to first mover companies).
If the JV didn't include a revenue share from generated hydrogen sales (like acciona I believe does) and SK Korea does for FC sales I can understand it not being economic and we should build our own factory - may be in South America or South Africa
Not sure Chevron was to build out H2 station but we were also talking with Flying J I believe. both of whom could do that and take the large stationary system to power EV fast chargers at the same location. We could also do a project with Chevron for 1GW hydrogen plants. Pretty sure they would have been to Georgia by now
Ironic. Every time PLUG begins to rally they find a way to shoot themselves in their foot.
Good question and maybe a bit of both. I noticed a bit back they had developed thier own products and wondered if they just did not copy us or is it really so had to design and build your own assuming you have a few good engineers and loads of cash like Twiggy does. May have been a falling out or they both have too big an ego and delusions of grandeur.
Smart of them to have numerous suppliers and if they succeed there will be plenty of business for everyone. Funny how Andy has changed a bit in his thinking as he said he never wanted to be a part supplier but own the product. So, what have we become? A part supplier. Everything we build will go to support a product we do not own, but a customer does. Maybe, the Hyvia partnership comes closest to ownership.
What puzzles me is the fact that both Plug Power and Fortescue have recently announced partnerships with Nikola to provide hydrogen. Thus, following this morning news, will Plug Power and Fortescue be cooperating to provide hydrogen to Nikola, or will they be competing against each other?
Numbers yesterday were not as good as one would expect. Most all the gain was due to two things. One was an increase in inventories and the other government spending. Real GDP growth was less than 1% if you take out these two. So, putting lipstick on this pig does not make it look pretty. Good thing for us is we have business, and much will relate to Government spending in the later half and near future so good for us. Our biggest problem now actually performing and staying ahead of the curve. If we can do that and control cost, we should be OK. I do wish that Mangement and the BOD had some accountability for performance beyond the stock price that hurts shareholders. Why are they still rewarded handsomely for continued failure. Why no ramifications for missing again? No one loses a job or takes a pay cut. I don't see Andy manning up to take a pay cut until we are profitable, but he sure has a big payday coming assuming we hit $100 in 2024. Must be nice to be King. Also, why is he not joining in today on the march or supporting naked short selling issues? If he's not aware it is an issue, then he needs to wake up because it is obvious to anyone that has owned this stock for some time.
Right Jack. No Fortescue treats stockholders same as the Muddy Run cancellation.
The Board must cancel Andy Marsh leadership (such as it is).
Sadly, transparency is lacking and has for some time. We get teased with pedestal customer announcement, but then nothing for ages. We have MOU's and JV's and even some acquisitions that seem to fade away and never heard about again. This FFI news had to be dragged out of them and I had posted about this since the Symposium. I guess the analyst reads our post. If it is important enough to PR as news when a relationship is established, it should be also when it ends. So, what has happened with our deal with Chevron? Were they going to build out H2 stations? Are they the new partner in production of Peaker plants? It looks to me we are heading toward bigger plants and equipment and for that we need deep pockets and expertise. A Chevron would have both tons of cash, a load of engineers and a workforce that can transition to green energy.
Banger - There is NO JV. FFI walked ! This alone speaks volumes.
Regardless of the spinning, this is BAD NEWS !
did you see the JV? Pretty sure there is a strategic vendor agreement or something to replace it and all this could have happened in the last few weeks . I haven't seen how far the factory has got, but we weren't funding the factory construction
I'm happy with supplying 200+MW of electrolysers and may be many more
Most of their projects going forward will use the FFI electrolyser just like PLUGs projects will use PLUGs electrolyser.
Given we have sold 80% of our production for electrolysers this year it isn't an impact to 2023 numbers for sure and removes one distraction
There is NO JV! PLUG is now a vendor just like Ballard, NEL, and all the rest.
Just a vendor, and FFI is not even a pedestal customer.
Andy walked away from China years ago and proved the right call...I believe this decision with ffi will prove to be good as well. Agree that the plug should be more transparent hence where do you begin to correct the issue with transparency?
once again it wasn't a surprise to those who do DD but technically is the JV scraped or just they didn't continue to the next phase .
PLUG can still, and will, deliver electrolysers to FFI under the original terms (200+MW I believe). Fortescue were building the factory the JV was to fit it out. Now FFI want to build their own electrolysers it doesn't take a genius to know they would need to terminate the agreement why pay to build a different electrolyser , may be only recently was the decision made for PLUG to not adopt that technology?
I also suspect we will be supply the electrolysers for FFI projects in the US so they can qualify for IRA incentives - should they get FID.
Andy probably got frustrated with all the talk and no action by Twiggy. I think only one project has got funding so far, so when were those electrolysers needed?
It will be interesting to see what develops with the relationship. If FFI do do what they are trying to around the world how many liquefaction systems may then need?
This is what we need to watch out for,help build plants then get kicked out. (Mr Hutchinson claimed the end of the joint venture was motivated by the Australian firm’s desire to “control our own destiny” and produce electrolyser technologies it owned the IP for.)
Plug Power scraps electrolyser plant partnership with Fortescue
By Sonali Paul
Thu, January 26, 2023
https://www.yahoo.com/now/plug-power-scraps-electrolyser-plant-000731973.html
MELBOURNE, Jan 27 (Reuters) - Plug Power has walked away from building an electrolyser manufacturing plant in Australia with Fortescue Metals Group as the economics did not work, Plug Chief Executive Officer Andrew Marsh said on Thursday.
The project, announced in October 2021, was to be a key plank in Fortescue's transition toward becoming a major green energy company through its Fortescue Future Industries arm.
Fortescue announced plans with Plug Power in October 2021 to build the world's biggest factory to make electrolysers and held a sod-turning at the site in Gladstone in Australia's northeast last February aiming to produce their first electrolyser in 2023.
In a business update on Thursday, Plug Power CEO Marsh said the plant deal with Fortescue was off.
"One, we decided that we didn't want to build a factory with them because we saw the economics, we could do better," Marsh said, according to a transcript of the conference call with analysts.
"So we really didn't think that was worthwhile to move ahead that we're still working with them on electrolyzers."
Fortescue Future Industries (FFI) CEO Mark Hutchinson said the company is going ahead with building the electrolyser plant with its own technology.
"We're going to do it on time. It's going to be our own technology," Hutchinson said on a quarterly call with analysts.
Fortescue did not mention the collapsed partnership in its quarterly report on Friday, where it said it had made "strong progress" on the plant, but when asked about it on a conference call, said that it no longer planned to use Plug Power's technology. (Reporting by Sonali Paul; editing by Diane Craft)
The important issue is not that PLUG has exited this JV with Fortesque. This is probably the right business decision.
My issue is with PLUG withholding this information from the investors. This is the WRONG business decision.
Lying by omission is still Lying!
Sorry but NOT Look out for 13.48 gap maybe, never know
https://www.nasdaq.com/articles/blackrock-inc.-cuts-stake-in-plug-power-inc-plug
I think black rock is buying more shares. That’s a good thing.
pretty sure that is when I was observing the lack of any action at STAMP. but still I was amazed they have missed the Georgia dates by 100% from the Symposium. Sanjay is not a project manager
hoping to get more regular updates from shareholders passing by - facebook seems to be the place for those.
Has to be a buying opportunity down here so long as the macro economy doesn't crater (Seems todays mix of numbers were treated well). PLUG isn't losing business and seems to have found new Fuel cell uses to keep the plate stamping machines busy all year.
Luckily the nat gas price drop will help margins until Q3 when most can be shipped from in house plants if they want - I suspect only East coast will be supplied from PLUG until Texas is on line - so a fair number of Walmarts will be getting grey hydrogen all year.
JB, not short term, because of the three months delayed reaction. But significant impact longer term, $1 lower price of natural gas = $1.5/kg lower production cost for hydrogen.
WTM - I am not either, I was just repeating what Sanjay said on the call.
- Low natural gas prices are not helping as much as some hoped
JB, I am not an expert in this area, I just posted what I found in a Google search. Can you please provide the correct data? Thank you in advance.
WTM - That is NOT the price of natural gas used in the production of hydrogen.
That is the benchmark price of natural gas at Henry Hub. There is very little hydrogen production at Henry Hub.
Current Natural Gas price $2.92, 52 week high $10.03, low $2.76.
Source https://markets.businessinsider.com/commodities/natural-gas-price
Counter to some comments I saw earlier today, per Sanjay, in answer to a question from an analyst in yesterday's Annual Business Update, the price of natural gas has a significant impact on the production cost of hydrogen. Sanjay added that for every $1 lower in the price of gas (for the standard unit of gas), the production cost of hydrogen is reduced by $1.5/kg. However, there is a three months delay from the time the market price for gas goes lower, to when Plug Power feels the impact. He also said that the numbers presented during the call do not take credit for the recent reduction in the prices of gas. For the 2023 annual projections, they used a conservative annualized average price of gas of $4-5 (for the standard unit of gas).
This is what I recall hearing, I tried to confirm this information by reviewing the transcripts of the call, which I found at the following link, however, I could not read them, as they require a subscription which I don't have. If another board member has access to the transcripts, please share.
https://www.marketscreener.com/quote/stock/PLUG-POWER-INC-10490/news/Transcript-Plug-Power-Inc-Special-Call-42814595/
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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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