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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/
Banger - No. Your timing is off.
I posted in May and June that PLUG was going to miss badly.
because I told you?
So, this will be the second quarter in a row now that they had to adjust revenue due to delays. So. last quarter was to make this one even bigger, but now this one will also be smaller. So, should we expect Q1 to be twice as large or more since it is usually smallest? How many more misses do they get? Seems there is no personal cost to any of them if they screw up. Where is the accountability? No one loses a job, gets a pay cut or anything. I realize stuff happens and this is a new industry, but they have enriched themselves handsomely and failed time and again to meet goals and protect the shareholder's interest.
Banger - True, Andy is getting BAD INFORMATION from Sanjay about Green Hydrogen, but Andy is the CEO. He should know by now that Sanjay is a sandbagger, and shame on Andy for believing him and keeping him around.
How is it that I knew that PLUG wouldn't meet their Green Hydrogen numbers last May and Sanjay and Andy didn't?
How is it that I know Green Hydrogen is more expensive and more difficult to handle that most alternatives .
There is more BAD INFORMATION and there are more BAD SURPRISES coming.
Thanks UK!!! Actually I try and wait for your assessment and thoughts. I think you
you may be one of the most level headed folks on the board!
most of the delays are in areas where Sanjay promised date sto Andy.
so he is not a suitable replacement
Now I hear Elon Musk has 10 minutes a week he can spare...
If we are in discussions with EPC's I am sure there is a VP in one of the large energy companies looking to be a CEO based out of Albany would would love to be the one that actually delivered the PLUG hydrogen strategy.
Poor plug,thanks Andy !,
Andy needs to step down and go set on the board!!! Give Sanja a chance to pump it to 75 and make 40million...then get a cfo that has some experience with a multi billion dollar company!!
Stop smiling when things aren't so rosy Andy and go look in the mirror.
I am sure someone will recap the positives on the Update, but here are some of the negatives:
- Another negative adjustment to the revenues
- Green Hydrogen behind schedule
- Therefore, IRA’s won’t be as soon or as big as projected
- The FFI JV is kaput …Really bad transparency .
- Low natural gas prices are not helping as much as some hoped
- I am sure that I have missed some, so please feel free to add to my list.
jammy - How do I do it? Right again.
Don't worry though, it will come back in the long term. It's just that Wall Street punishes negative surprises and lies by CEO's.
850.00 in 9 minutes, thanx clay. $$$$
<< It could be a head fake. I have seen those many times over the years. >>
It looks like I was spot on.. Unfortunately..
<< Not seeing the down big that some predicted. >>
It could be a head fake. I have seen those many times over the years.
I felt Andy sounded kind of choppy, but I did appreciate the warning on earnings. I just wish he was more upfront on everything else. I did find it odd that they moved business up to 4q last quarter and now moving it to Q1. Seems delays are worse than expected and this business is not as easy to get running smoothly as anticipated. The Ga. plant is way behind schedule but will be a learning experience for the future. Funny that they were touring an oil company around the plant. With the oil industries labor pool and experience in handling huge projects it makes perfect sense to bring in experts to partner with to decrease capital cost and create synergies. Seems like they are trying to act smarter about growth and use of capital. Also, making them partners versus competitors is smart because Andy has to know while he has a head start in the long run they can outspend and bypass us pretty quickly.
Odd that gross margins so low in 2023 and then way up and yet OI decreases. I guess they are being conservative or feel prices will be competitive and they may have less profit per sale.
would love to see pie chart for projected 2025 revenues by product.
Here is my take on the event:
Andy lost an opportunity to really present the strategy in a coordinated manner. The slides are great but he loves to talk off script about items that may come up later (stationery is obviously his turn on this quarter).
His explanation for Q4 business update was weak and wasn't surprising, luckily the forward story is what the market is looking at. Not sure why he couldn't be more specific about what business slipped into Q1 apart from the generation.
I'm not sure why he waited for a question to address the FFI partnership. When he says we are continuing with electrolyzers does he mean just selling them to them for 2023 revenues only or developing/manufacturing newer models (which FFI has already done) for longer term and huge numbers - if the national strategies FFI is selling come to fruition. I can see FFI wanting to manufacture their electrolyser in the USA for $$ or will they only use PLUG electrolyser in the USA? They have at least 3 GW of generation planned (not yet FID/permitted) and more if the hubs come to fruition) in the USA.
I cannot wait for the initial customers for the stationary fuel cells to be announced. The packaging is better than I expected and more powerful. A number of competitors focussed on this market so price and availability may become critical. Will Flying J be a "pedestal" customer for this market in 2023?
Jammy, you're absolutely 100% correct that the PLUG future looks bright and will be bright. Andy Marsh has been telling us the same in so many words for the last 3 years.
Annual Report actual numbers will be a LOSS.
Andy Marsh said last evening that he's an engineer. Long term, PLUG will be profitable. Andy Marsh's vision of long term is much shorter than reality. Unfortunately, the here and now are overbearing with SEC Quarterly accounting reports due every 3 months.
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WORSE than I thought ! Down BIG Tomorrow. - Not
What amazing call from the CEO. Future looks bright. PPS was up after hours and up this morning as well. Not seeing the down big that some predicted. Glad false information didn’t make me sell.
More good news for longs as shorts keep feeling pain.
HYVOLUTION: GCK WILL PRESENT ITS RETROFITTED RENAULT MASTER EVO H2
Article written by Laurent Meillaud and translated by Logan King
25/01/2023
https://hydrogentoday.info/en/hyvolution-gck-will-present-its-retrofitted-renault-master-evo-h2/
The GCK Group, specialised in retrofit, will be at the Hyvolution show next week in Paris. On this occasion, it will present the Renault Master Evo H2, its latest vehicle which is currently in the approval phase. The diesel engine has been replaced by an electric motor powered by batteries and a fuel cell.
In a few months’ time, the Master Van H2 tech, produced by Hyvia on behalf of Renault, will be on the road. The vehicle was already presented at Hyvolution last year. But this year, it is another Master that is likely to steal the show, the one converted by GCK. The group claims that it retains the characteristics and performance of the original vehicle. Powered by an electric motor with a maximum power of 96 kW supplied by a Symbio fuel cell integrated in the engine compartment, the Renault Master Evo H2 has a range of 400 km (5 minutes recharging time) and a maximum speed of 130 km/h.
This is a solution that may be of interest to fleets due to the upcoming implementation of LEZs* in France’s most populated cities.
At Hyvolution, GCK will also take the opportunity to present Flex’hy: a subsidiary that can either produce hydrogen on site or distribute hydrogen produced locally. Thanks to flexible and mobile solutions, Flex’hy meets the needs of customers who want to steadily increase their daily consumption and number of vehicles with a very low level of civil engineering development. GCK also has expertise in the hydrogen combustion engine, since the acquisition of Solution F.
*Low-emission zone
Got in early an got right out along with 14’s, yeah this probably goes way red tomorrow. AH looks silly
3 Hydrogen Stocks to Buy Now or You’ll be Kicking Yourself Later
Hydrogen could be one of the most exciting opportunities on the market
1d ago · By Ian Cooper
https://investorplace.com/2023/01/3-hydrogen-stocks-to-buy-now-or-youll-be-kicking-yourself-later/
Here are some of the hottest hydrogen stocks to own today.
Direxion Hydrogen ETF (HJEN): Diversification with a low cost.
Bloom Energy (BE): One of the hottest hydrogen stocks with impressive earnings growth.
Plug Power (PLUG): UBS just initiated a buy rating with a $26 price target.
Hydrogen stocks could be some of the most exciting opportunities on the market. According to the Hydrogen Council, it’s central to reaching net zero emissions and limiting global warming to 1.5 degrees Celsius. In fact, the Inflation Reduction Act includes a tax credit for companies producing it.
According to the International Energy Agency, global hydrogen demand will need to double from about 94Mt in 2021 to more than 180 by 2030. Europe may need to see a six-fold increase in demand by 2050.
So it’s no surprise that some analysts foresee a multi-trillion-dollar hydrogen opportunity.
Goldman Sachs, for example, believes that hydrogen could become a $12 trillion market by 2030.
Bank of America says green hydrogen could be worth more than $11 trillion by 2050.
Morgan Stanley also thinks that hydrogen could become an $11 trillion opportunity.
Here is an interesting article:
https://seekingalpha.com/news/3928117-plug-power-trims-fy-2002-revenue-guidance-after-tougher-quarter-than-expected
Yet again, the future looks bright. Thanks Andy for your future vision, but please resign now. Stockholders need a break from same old, same old.
SOME REALLY BIG MISSES !
- Revenues
- Green Hydrogen
- Growth Rates
WORSE than I thought ! Down BIG Tomorrow.
Reposting a couple of interesting links I found on another board:
https://www.linkedin.com/posts/chatzimarkakis_ursula-von-der-leyens-4-pillars-activity-7024022798951968768-n4Bt
https://pv-magazine-usa.com/2023/01/24/zero-emission-hydrogen-production-facility-planned-for-california/
I agree, Steve. Anything is better than what we have.
Good management knows when they are over their skis you get the best help possible to help you. I think this is a smart move to bring in experts.
Good management doesn't need McKinsey. I hear they are expensive.
I think Jack this is why we are working with Mckinsey for professional services and planning. I agree they tended to get too many irons in the fire and were using a shotgun approach versus being laser focused in a few areas that had near term profits and no something for 2035.
Guys - No surprise, I totally disagree. We have needed professional management for years.
We could have been profitable years ago, but Andy et al have been giving away the store, and buying yard-sale junk (EnergyOR).
If we are about to do some major deals, I vote that we find professionals to do them before its too late.
Steve, agree 100% with your assessment. I'll add that once Plug Power becomes profitable in the near future, as expected, or shortly thereafter, Andy will step down as CEO, having achieved his ultimate goal, as well as due to his age.
There have definitely been many blunders and missteps, but they are building a new industry and you will make mistakes. He did keep the company alive, but at a huge long term cost we are still paying for, but better than bankruptcy. We are about to see a huge uptick in business with all the Hubs and projects coming online and unless they screw up again this may be a bad time for a transition of power until these deals are settled and then look at moving Andy to another position and replacing Paul. Just my humble opinion.
Plug is a great buy
Andy is an engineer/ scientist not a Ceo...Middleton a small level accountant...prove me wrong andy and paul?.
We should know tomorrow evening more...I don't want to hear 2026 2030 bs
Plug will participate in a number of upcoming events:
- Hyvolution in Paris, France from Feb. 1 to Feb. 2. Register here.
- H2 Expo Hidrógeno in Cintermex, Mexico from Feb. 7 to Feb. 8. Register here.
- Hydrogen and Fuel Cell Seminar in Long Beach, Calif. from Feb. 7 to Feb. 9. Register here.
- Intersolar North America in Long Beach, Calif. from Feb. 14 to Feb. 16. Register here.
- PowerGen International in Orlando, Fld. from Feb. 21 to Feb. 23. Register here.
German roads will see the first of 5K hydrogen trucks this year
January 6, 2023, By ERIN KILGORE
https://www.hydrogenfuelnews.com/hydrogen-trucks-gp-joule/8556764/
Link to short (2:38 min) video: Link
GP Joule in Reußenköge in Schleswig-Holstein said the vehicles will start rolling out in mid-2023.
GP Joule from Germany’s northernmost state of Schleswig-Holstein has announced its intentions to roll out 5,000 hydrogen trucks across Germany, with the first ones to hit the roads by mid-2023.
They use H2 as an alternative to expensive batteries for heavy duty vehicles that need rapid refueling.
The company has said that they will be able to roll out the hydrogen trucks starting in 2023 even as subsidies as high as €9,000 per vehicle have been aimed at electric cars, starting early this year, according to an announcement from the Federal Motor Transport Authority.
GP Joule plans to complete the rollout of the total 5,000 H2-powered vehicles by the close of 2027.
“We are building the market for green hydrogen ourselves,” said GP Joule CEO Ove Petersen. “Until now, the company has operated plants for generating renewable energy from the sun, wind and biomass. Petersen is now aiming to put 5,000 electric lorries in the 40-ton class on German roads by 2027 with freight forwarders as customers.”
The hydrogen trucks will use fuel cell technology to generate their own electricity on board the vehicle.
The H2 vehicles will have a range of about 400 kilometers (just under 250 miles) per full tank. That said, the company expects that the widespread use of these vehicles throughout Germany will require about 150 filling stations, starting in Schleswig-Holstein, where the vehicles will first roll out.
“We are building new wind and solar farms throughout Germany, and drawing on existing ones,” explained Petersen about the plan to ensure the necessary filling stations will be in place as the vehicles start hitting German roads. “The first lorries will be on roads in the second half of 2023. Another 500 in 2024, then another 1,000 every year.”
Over the next five years, there will need to be an installed capacity of 2.5 gigawatts in order to meet the demand for H2. That said, there is considerable interest for the hydrogen trucks. “Demand for our zero-emission transport services among logistics companies is extremely high,” said Petersen.
Smart to use options with volatile stocks.
UP, Down, this is one of the most volatile stocks I have seen out there. ONLY have a bunch of options here way pout for time being. Too much problems in US economy right now for any balance anywhere or certainty.
Another great day. Up what, 10%. Keep going PLUG and keep toasting dem shorties. Love it. Go PLUG
Giant Fund Buys Up Tesla and Plug Power Stock, Sells GM
By Ed Lin
Jan. 22, 2023
https://www.barrons.com/articles/tesla-stock-plug-power-gm-51674154718
A large European asset manager recently made adjustments in its U.S.-traded stock investments that seem to favor electric vehicles over traditional car makers.
DNB Asset Management materially increased investments in EV maker Tesla TSLA +7.74% (ticker: TSLA) and Plug Power PLUG +9.69% (PLUG), a hydrogen fuel-cell technology company, while slashing its stake in General Motors (GM) in the fourth quarter.
GERMANY TO PARTICIPATE IN HYDROGEN PIPELINE PROJECT IN MEDITERRANEAN
By Anela Dokso
January 23, 2023
https://energynews.biz/germany-to-participate-in-hydrogen-pipeline-project-in-mediterranean/
According to the Franco-German statement, Germany will participate in a new hydrogen pipeline project between Spain, Portugal, and France.
By 2030, the H2Med project, which will link Portugal, Spain, France, and now Germany, will be able to meet 10% of the hydrogen demand in the EU.
Green hydrogen, produced by electrolyzing water using renewable energy, will be transported through the pipeline that runs beneath the Mediterranean Sea. According to the Spanish government, H2Med will have the capacity to produce about two million metric tons of hydrogen yearly.
FRANCE AND GERMANY
Both French President Emmanuel Macron and German Chancellor Olaf Scholz declared that they were “increasing our investments in the technologies of tomorrow, particularly renewable and low carbon energies.”
At the end of April 2023, a joint working group between the two nations will offer suggestions on the tactical options for the development of hydrogen.
Yes, I think the anticipation of Weds. is the big draw. Shorts covering and will reset Weds. thinking Andy has nothing to offer more than known already. It will go up if he has some red meat. otherwise, we go back down to $15.00-$16.00. We will need something big to make buyers come in and traders want to stay.
There may be some influence from Europe's support for Nikola, I'm sure some analysts didn't realize they manufactured there as well. But the Update on Wednesday is probably more behind this rise .
The factory opening and other recent news is underpinning 2023 numbers for sure. May be analysts actually found out how much those liquefaction systems cost.
Natural gas prices down help short term margins as well of course
Is it just a coincidence, or is Plug Power share price reacting to Nikola's PR this morning? Nikola currently up 9% Plug Power up 10%. It would make sense to me, since if Nikola succeed it means more business for Plug Power, from the sale of green hydrogen.
I think Jack is taking a little shine to plug he’s comparing them to Ford Motor’s
Jim Cramer- When asked about Plug Power Inc. (NASDAQ: PLUG), he said the company’s CEO Andy Marsh has promised to deliver "profitably for a very long time." Cramer added, "My bountiful patience is beginning to get tried." In a way I have to agree with him on this. Being from Cramer this is pretty good news. Swaggy has Max Pain at $15.50 this week and about the same for the next month from $15-$15.50 at this point. Makes me wonder if we don't have a sell on news after Weds. or even after hours. I hope Andy has something new and compelling for people to add to their positions. Maybe, like a deal with Bill Gates and that Helio projects?
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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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