Plug Power Inc (PLUG)

[WeTheMarket]

Steve, great find. Thanks for posting.

[scubastevemd]

https://www.msn.com/en-us/money/markets/new-retrofit-tech-enables-micro-turbines-to-run-on-both-hydrogen-and-natural-gas/ar-AA1vTvGq?ocid=msedgntp&cvid=6000cf02dbdb46f281eeee411774c467&ei=31

[WeTheMarket]

If there is good news on 45V expected for Friday, apparently it's not leaking out, at least not yet.

[Jack_Bolander]

Who Remembers MULAG ?

https://www.nbcbayarea.com/news/local/climate-in-crisis/super-tug-sfo/3738022/

Zero Emission GSE's

[scubastevemd]

It depends if they can ram it through before this becomes a major story in the news and they all hide for cover. Between Congress inside trading of stocks and the Biden pay for play deals with Huneter it seems many have their hands in the till for favors. I do find it troubling, myself and that maybe the reason all the execs are lately saying they do not need the loan to continue. Maybe they know already?

[WeTheMarket]

Appears to be regurgitated old news.

Inspector general warns Biden admin's $400 billion green energy loan program is ripe for abuse
'On the issue of not funding our adversaries, I am greatly concerned about how things are going in that regard,' inspector general says
Thomas Catenacci By Thomas Catenacci Fox News
Published October 19, 2023
https://www.foxnews.com/politics/inspector-general-warns-biden-admins-400-billion-green-energy-loan-program-ripe-abuse

[uksausage]

I certainly hope not. It's a bit of a catch 22 situation.

You hire people who have experience of a. market in order to rpovide incitfully analysis of needs and projects, you then turn around and say conflict of interest.

There isn't any.

Jigar and his investment company sold all their holdings of PLUG before or when he was appointed.

[WeTheMarket]

Link to article referred to in JB's post. Should this be reason of concern regarding the DOE loan?

Link https://freebeacon.com/biden-harris-administration/significant-risk-of-fraud-federal-watchdog-calls-for-emergency-halt-to-bidens-400-billion-energy-loan-fund/

[Jack_Bolander]

'Significant Risk of Fraud': Federal Watchdog Calls for Emergency Halt to Biden's $400 Billion Energy Loan Fund

The Department of Energy's inspector general on Tuesday issued an unprecedented call to suspend the Biden administration's $400 billion energy loan program, warning that officials aren't complying with conflict-of-interest rules and that the program carries a "significant risk of fraud."

The news comes as the Energy Department's Loan Programs Office (LPO) has been rushing to dole out billions in loans to green energy companies before President Joe Biden leaves office in January.

The inspector general's criticism could halt that funding blitz and draw new congressional scrutiny into the loan program. The loan office has already come under fire from Congress for dispensing billions in loans to high-risk companies, some of which had prior financial or personal links to office director Jigar Shah.

[Jack_Bolander]

Steve - Up One Penny !

I'm not impressed at all.

[scubastevemd]

We are going up. I wonder if there's a leak or just piling on just in case, we get news?

[uksausage]

Lots of business for tethered trucks in GA. It's how you start and buying for your own use cuts the middleman mark up of public fuelling stations. 

[Jack_Bolander]

Banger - this is the case then Hyundai's trucks will be short range, tethered vehicles.

meh

[uksausage]

Plug has been supplying them for a long time. They were the prime customer for the gaseous H2 from Georgia before the green liquid be am available this year

[scubastevemd]

who is supplying their hydrogen? As far as I know there are no filling stations in Ga. is there? I would think they would need mobile stations or supplies until an infrastructure is built around major trucking corridors on 75\85\95 in Ga. at least.

[Jack_Bolander]

WTM - You forgot to REPOST an important news item :

Another Major Hydrogen Project Bites the Dust !

In a conference call today Air Products has dropped out of a $4B plan to build a green hydrogen plant in Oklaunion.

The plan was hatched in 2022 between AES and Air Products. It was put on hold in September of this year.

[jammy32]

I’m shocked that you’re not optimistic LOL

[WeTheMarket]

California HVIP voucher data for Nikola trucks, end of November (top) vs. end of October (bottom).
Source https://californiahvip.org/impact/#deployed-vehicle-mapping-tool

[WeTheMarket]

Recent X post.
https://x.com/hydrogenfuelnew/status/1868323183767790041

[B_B!]

We also know that the IRS will issue its 45V hydrogen tax credit guidance later in the week, mostly likely on Friday. Let’s be clear on the three items that will create demand for a hydrogen marketplace: 1) The DOE’s Loan Program office has/continues to invest in innovative technologies to produce and develop hydrogen, 2) DOE’s $7B Hydrogen Hubs are regional stakeholder, private-public partnership that can/will implement the infrastructure and market (which has companies and advocates, as well as Govs. Greg Abbott and Gavin Newsom on the same side and 3) a FLEXIBLE IRS 45V tax credit will boost the marketplace and create demand in the expanding hydrogen industry. We have a full array of experts on the topic and will be ready to discuss.

Frank Maisano Dec 16, 2024
https://frankmaisano.substack.com/p/dec-16-congress-closing-lng-study?triedRedirect=true

Shamus
https://stocktwits.com/Shamus/message/596757198

[Jack_Bolander]

WTM - I was in Energy Banking.

Even with a DOE LOAN Guarantee, I wouldn't loan a penny to this mismanaged Mess.

And I have no idea what Norge was thinking.

[Jack_Bolander]

WTM - You obviously don't know how the mechanics of the DOE Loan process work.

NO DOE DOUGH is ALL on PLUG.

PLUG can't find anyone to loan them the DOUGH !

[scubastevemd]

Thing is Marsh made these predications before 45V or the DOE loan. This was all to be done with the capital we had that has been squandered on poor management and decisions.

[KingRichard3rd]

I hear you, Jack.
Let's see what happens this coming week.

[KingRichard3rd]

You are absolutely right about it.
We shouldn't trust after so many years of miss promising but I think PLUG is turning a corner.

[Jack_Bolander]

I am NOT so optimistic.

IF (note the BIG "IF") the DOE Backed loan comes in and IF the 45v rules favorably change, I see PLUG climbing as high as $5.00.

HOWEVER , the 2024 full-year financials are a Disaster. True , PLUG has taken some measures to improve their balance sheet, but way less than they announced and WAY LESS than they need to.

And if the DOE backed Loan expires and / or the 45v isn't as beneficial as PLUG needs, then we could see PLUG easily fall BELOW $2.00.

[Jack_Bolander]

WTM - What a LOUSY PUFF PIECE.

This story (a work of Fiction) makes everything surrounding look rosey . NO MENTION of the Third Quarter Revenue Miss ? Why Not ?

No mention that 2024 full year guidance has been reduced and is also a Miss.

The deals this articles highlight are smaller and fewer than in other years.

Simply a Nothing Burger Puff Piece.

[WeTheMarket]

Plug Power reports progress in hydrogen initiatives, improved financials for Q3
December 15, 2024
https://spotlightnews.com/towns/bethlehem/2024/12/15/plug-power-reports-progress-in-hydrogen-initiatives-improved-financials-for-q3/

SLINGERLANDS—Plug Power Inc., a leader in hydrogen energy solutions, announced advancements in key projects and financial improvements for the third quarter of 2024.

Plug Power’s revenue reached $173.7 million for the quarter, driven by increased demand for its hydrogen-powered technology, including a surge in electrolyzer sales. The company also reported a 31% improvement in cash flow from operations compared to last quarter, alongside gains across its equipment and fuel sectors. Although Plug Power still recorded a net loss, it reduced that figure to $211.2 million, an improvement from last quarter’s $262.3 million loss.

Plug Power’s hydrogen technology, particularly its electrolyzers used to produce clean hydrogen, saw major growth this quarter. The company fulfilled a large order of 25 megawatts for bp and Iberdrola’s project in Spain, reflecting the growing interest in green hydrogen worldwide. In Europe, Plug Power also expanded its footprint in sustainable logistics by teaming up with Carreras Grupo Logistico to create Spain’s first hydrogen-powered logistics site.

In California, Plug Power completed an 8 MW hydrogen fuel cell system to provide backup power for emergencies. This innovative setup, which combines battery storage with hydrogen energy, is designed to deliver reliable power even in challenging conditions like wildfires.

Plug Power expects its revenue for 2024 to fall between $700 million and $800 million, with more orders anticipated for its hydrogen technology. CEO Andy Marsh noted that the company’s recent progress shows its dedication to building a sustainable hydrogen future: “Our advancements in hydrogen production and expansion into new markets reflect our team’s commitment to shaping the hydrogen economy.”

[WeTheMarket]

Plug Power: Electrolyzer Deployments And Increased Institutional Confidence, Amid Financial Challenges Loom
Dec. 15, 2024
https://seekingalpha.com/article/4744391-plug-power-electrolyzer-deployments-and-increased-institutional-confidence-amid-financial-challenges-loom

Summary
- I am now neutral on Plug Power, upgrading it to Hold due to progressive electrolyzer agreements and potential future returns despite recent volatility.
- Key developments include strong electrolyzer installations, strategic investments, and partnerships aimed at boosting hydrogen production and reducing carbon emissions.
- Norges Bank's increased stake signals confidence, but financial strain and uncertainties around the Inflation Reduction Act pose significant risks.
- Q3’24 financials show slight improvements with reduced cash burn and increased revenues, but the company remains in a distress zone with a negative Altman Z-score.

[WeTheMarket]

MM77 and JB, not entirely Marsh's fault, both the DOE loan and the 45V regulations (implementing the IRA clean hydrogen production tac credits) are at least two years behind and counting.

[Jack_Bolander]

KR 3 - Who Said :

In early 2022 just shy of 3 years ago Andy Marsh issued the annual investor letter. Suggest you read it if you are depressed as it will make you laugh.

Marsh states (and it is written) :

"We are targetting 70 tons per day by the end of this year (2022) and are on track to have 500tpd of green hydrogen production by 2025 and 1000tpd by end 2028

reality is 25tpd by end 2024. By end 2025 40tpd is likely !"

40 Vs 500 - that is one massive overestimation

[mikman77]

Mr. Marsh has said many things over the course of the last several years. None of which I believe nor should any other believe. He has proven to be non compliant with predictions...im Long and have been hurt by his projections and the current stock price. Mayb im wrong but I feel a new change in management could benefit!!

[KingRichard3rd]

Next week will be our time, longs!
Next target $3.22

https://www.ttnews.com/articles/energy-technology-loan-funds?fbclid=IwZXh0bgNhZW0CMTEAAR3rW9jUWSAF2fm1qHKP34oQJzXEm_JuCnIPXtnofaz-iZ0zcwRAHwjPQLQ_aem_Z1BPQCXFMVEdNi0ooT4L3g

LPO also relies on other agencies’ expertise when deciding to fund projects. That adds another speed bump to getting money out the door as other parts of the administration try to insulate Biden’s legacy from Trump.

Plug Power Inc. has had to work not just with DOE but with the Environmental Protection Agency and the Army Corps of Engineers as it tries to finalize a $1.66 billion loan to build a series of clean hydrogen production plants, CEO Andy Marsh said.

While critics often complain that the government makes a poor venture capitalist, Marsh said the loan office understands clean tech startups and large company projects better than many firms in the private sector. “The government’s actually smarter about what the perceived risks are, just because they’ve been involved in these projects,” he said. “If it’s something that hasn’t been done before, it’s tough for the private sector to put the right risk on it.”

[WeTheMarket]

Repost from FCEL board, courtesy of Hoghead7.

Deals starting to roll, FCE opportunity coming soon
https://cm.h2-view.com/t/t-l-siulhjt-tlttwkidr-d/

https://cm.h2-view.com/t/t-l-siulhjt-tlttwkidr-k/

https://cm.h2-view.com/t/t-l-siulhjt-tlttwkidr-o/

https://cm.h2-view.com/t/t-l-siulhjt-tlttwkidr-p/

https://cm.h2-view.com/t/t-l-siulhjt-tlttwkidr-m/

[WeTheMarket]

JB, I disagree. Hydrogen in automotive transportation is twice as efficient as gasoline and diesel, with comparable performance (weight, range and refueling times), less maintenance costs, low noise pollution and zero air pollution if refueled with green hydrogen. So not "a waste of Taxpayer Money." It's just not economical yet, due to low production numbers, and not practical in most areas due to lack of hydrogen refueling stations. So it needs government incentives right now to achieve price parity with gas and diesel, and the buildout of hydrogen refueling stations.

[Jack_Bolander]

WTM - I really hope that most of the money goes to EV Charging !

Hydrogen Refueling is a waste of Taxpayer Money. Hydrogen as an on-road motor fuel is a total waste of important, critical resources.

[WeTheMarket]

California Approves $1.4 Billion Investment in Hydrogen Refueling Stations and EV Charging Infrastructure
By Fuel Cells Works
December 13, 2024
https://fuelcellsworks.com/2024/12/13/green-investment/california-approves-1-4-billion-investment-in-hydrogen-refueling-stations-and-ev-charging-infrastructure

[Jack_Bolander]

Steve - Using your logic, Bashers are the only ones being honest.

[scubastevemd]

Owning Plug is like having death by a thousand cuts. It just bleeds your money and spirit dry. How has Andy been any different than the scam they just tried to play on me, and they do this to people that have already been victims and mostly older. Seems people have no souls anymore. They will come across as nice people and scam you of your money in a second. Reminds me of some on the Yahoo board that are obvious sorters pumping the stock up so they can short it and then bash it down. All a game to steal money. Sad way to go through life.

[Jack_Bolander]

EVEN MORE BAD NEWS !

https://cleantechnica.com/2024/12/12/hydrogen-ships-are-seeing-same-pattern-as-all-hydrogen-fleets/

[Jack_Bolander]

WTM - Jose Crespo, Chief Revenue Officer, says that PLUG doesn't need the $1.6 billion loan.

Plug can always add Debt, Dilution and Toxic Financing as they have in the past.

Hyvia the game changer is yet another MULAG ... only worse.

A writedown ?

[WeTheMarket]

Not directly related to PLUG. However, I hope that PLUG related news will follow soon.

EVgo Closes DOE Loan
December 12, 2024 5:00 PM ET
Link to Webcast https://events.q4inc.com/attendee/299880545
Link to Presentation https://s27.q4cdn.com/370825096/files/doc_presentations/2024/Dec/2024-12-12-EVgo-Closes-DOE-Loan.pdf

[Jack_Bolander]

MORE BAD NEWS !

https://hydrogen-central.com/westwood-insight-over-a-fifth-of-all-european-hydrogen-projects-stalled-or-cancelled/

[Jack_Bolander]

Here's an interesting read :

What is smarter ?  Buying cheap power from a financially solid proven producer ?

Or buying expensive power from a struggling newbie to the sector.?

https://finance.yahoo.com/news/exxonmobil-planning-large-gas-fired-152012290.html

[velcro]

Sold all PLUG stock nearly one year ago. Check back occasionally to see any updates. Not likely that PLUG will ever by successful, but maybe a larger company will buy or merge.

[KingRichard3rd]

Jack,

Yes, but if PLUG will close above EMA4 ($2.49) that would be very good.
We still have few hours. Let's wait till the end of the day.
Green to all!

[Jack_Bolander]

KR-3 - Not so much today ...

Every PLUG Rally fades within days.

No one should be fooled by a Santa Claus Rally.

[KingRichard3rd]

Great support at MA200 - $2.56

[scubastevemd]

I think the last 200 million offering allows them to sell at $4.00. Would that be enough to stop the rally if they sold and put a cap on the price?

[scubastevemd]

So, are you thinking it spikes up to the red line with a major announcement all of a sudden or will it be a long climb back?