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Not sure Jack, but I have to think with all the work they have done in this area they have had a learning experience. Also, I'd love to know who, if any, of the current customers are demanding such vehicles. I find it interesting that unlike most Class 6 vehicles you do not need a commercial license due to the weight. This opens up a huge potential for non-professional to drive. Think in the future of all the rental fleets people use to move with Ryder, U-Haul etc. I think Amazon with their 2025 huge contract for green H2 maybe behind this to get it off the ground. This time could be different. We shall see as it will take some time. I like to think positive.
Well, that was kind of a surprise, but I almost wished they would have kept it secret until the trials were completed and plans for adoption were ready. Unless our customers have enough h2 at the site that is made there, or delivered by Plug there is no infrastructure to support a large-scale delivery fleet. This will all have to be onsite large structures most likely in the 5MW size or we have to supply a lot of green H2 we do not have yet. I see this as a slow rollout out, if the end product is accepted. Hopefully, Hyvia was a good testing ground to get the bugs out. I wonder if Renault or someone else like Ford will be working with us. There are so many questions this news brings up. This could certainly turn the tables, but we are going to need a lot more product and that means money.
I wonder how long all this garbage they toss in takes? While this conditional commitment represents a significant milestone and demonstrates the DOE’s intent to finance the project, certain technical, legal, environmental and financial conditions, including negotiation of definitive financing documents, must be satisfied before funding of the loan guarantee.
LPO works in support of President Biden’s ambitions to drive growth in US manufacturing and innovation, create jobs, and build a clean energy economy that will address climate change and make communities more resilient.
Plug’s projects under the loan will adhere to the Biden Administration’s Justice 40 Initiative. This process includes gathering input from local labor, workforce, and economic development organizations in addition to first responder and non-profit organizations. The plants are expected to create good-paying jobs accessible to a diverse talent supply and help develop workforce skills needed to drive the transition to a clean energy economy.
LPO’s Title 17 Clean Energy Financing Program, which supports innovative energy and supply chain projects and projects that reinvest in existing energy infrastructure, will provide the financing to Plug.
So, what does this actually mean and when will we start receiving the money?
Was the EV for short haul and long haul? Seems to me long haul, once there was fueling stations in place would be a good bet to go with a FC truck like what Nikola has. I wonder if they are waiting on a direct combustion hydrogen engine. The longer 45v and the DOE drag on the worse our chances look. I am doubting either of these happen in our favor once Trump gets in office. I'm thinking he may just gut the whole IRA and let the energy companies fight it out like before. With the head start and then Covid things worked in our favor, but since then new technologies and old ones getting better are cheaper competition and we have lost some advantage. If things don't get moving and soon, I fear for Plugs future and my chances of ever seeing my money.
If PLUG cannot scale up the production of H2 then growth will be stagnated. As it is all the lofty projections are out the window and we will be lucky to hit a billion this year. So much promise just wasted and management not buying shares even at $2-$3 has convinced me the future looks much worse than they are likely letting on and we could head to penny stock status and be forced to another reverse split like the early days. We need a Hail Mary pass.
They miss the point. It has to be more lenient to start to get off the ground. No one has issues with a few years down the road, but why harm the projects already started and the HUBS? Put the more stringent rules to start in 2030. If you want the sector to get off the ground and if not put in the all the restrictive rules and cede the business to China and others. I just wish the Government had people with some common sense!
The proof that we are moving in the right direction will be in the following quarters. Sadly, I think things will not move much in the US until 45V is past and companies know the rules of the game and can see if it is profitable to move forward or not depending on the rules. Also, what the heck is going on with the DOE. This seems to have been going on for 18 months now, which really worries me. I hope Andy is not being fast with the truth on this one because if we do not get it, we Reverse Split and start over. Heck, that might happen anyway if the share count gets too high.
BB I hope you stay around. You are a gentleman and are a good counter to Jack's total negativity. You provide great information that many here appreciate. Keep up the good work. Let's see if this was our last horrible quarter and we see improvement from here.
Do we lose any advantage we have at that point or our we likely to license it assuming a major University comes up with the better mousetrap. At that point it would depend on who can produce the most at the lowest cost.
I agree we should see better margins in the H2 cost, and I would think fuel cells also as older models should be seeing a lot of replacement with newer and lower cost to produce models at this point. They never seem to talk about this. I think the cost reductions and price increases we will see more each quarter as we go on. I would think revenue from the new cryogenic trucks, deliveries, and engineering services will be up also and may be a surprise. I do hope Andy for once in his life sandbagged and surprises even the Zack gang, but if wishes were fishes, as they say.
https://www.blackridgeresearch.com/blog/list-of-global-top-hydrogen-electrolyzer-manufacturers-companies-makers-suppliers-in-the-world We are 16th on the list despite what Andy makes you feel like you are the only one and best and that PEM is the only choice. For PEM- https://www.hydrogennewsletter.com/leading-pem-electrolyzer-manufacturers-for-green-hydrogen/
Of course, China leads and surely the cheapest
Wow. They dropped the ball again and once again kept this quiet from shareholders. Is this being a good fiduciary Mr. Marsh to shareholders and citizens in this county. How does this fit in with all the EGS, environmentally friendly, sustainable bs you have been espousing?
Seems the Investors Village is joining the Fool on hit pieces. Up to Andy to prove them wrong because they have been right like the shorts for the last few years. Yes, I hate them too, and I think they tend to tell half-truths just like Andy, but they were more right than wrong. The thing is only Andy, and his gang can right the ship. It sure would be nice if the bums bought shares as a sign of faith in the company growing and surviving.
I guess that is the good thing we did by spreading our business out worldwide. I do think Andy is too optimistic and trusting of some 'partners' and maybe he relied on them being ready to move and this has cost us dearly. This includes Twiggy and his good buddy slimy Schumer, who has been quiet about everything regarding green H2 and all the domestic issues. I do find it interesting that we find ourselves with these issues to riot over from the Wall street gang, George Floyd, Black live matter and not the hate Israel crowd now. The DNC convention should make 1968 look like a party. This is what happens when you worry about power and trying to appease the Marxist left progressive. Sadly, Biden is just a shadow puppet for Obama and his gang. I don't like Trump, but we probably need someone like him to clean house throughout our Government to weed out the bad players in the FBI,CIA,DOJ etc. Also, have the Soros family and the Open Society shut down as an organization promoting violence and jail George and Andrew.
That news from China ought to be a huge sign that if we want to lose another industry to China, we need to get 45V and the DOE loan moving like yesterday. Time to stop this delay and get going! Everyone is waiting for the rules and to see if projects make economic sense before investing billions.
I wonder if this move by Ole helps or hurts Plugs future business with Nikola. I have not heard anything about the deal with them saying we would take so many trucks for one of our units have you? I just wonder if there is a future relation here. Seems they have gone to different companies.
I wonder why he left. He was hired to set up the factories I believe. Maybe he was no longer needed since they are all complete now? I hope he did not leave because he felt the days were numbered and he would leave a sinking ship.
Why? What has he done to increase the value to shareholders. This is a slap directly in our faces!
Talk about a rigged election. Do we live in Russia or China? And the BOD is going along with this? Shame on all of them!
You are cordially invited not to come. I guess they have so many people mad at them they are afraid to allow their shareholders to attend. I guess security and metal screening cost would be too much?
Well, a promising start just faded away today. I wonder how much longer 45V can be. The pressure has to be on the iRS.
Wow, all the risks and lawsuits! Sorry, I cannot vote for anyone that has governed a company so poorly. Even though they will all win I think we can all agree that a protest vote NO will at least send a message that we are sick and tired of the poor leadership and how they have run the company into the ground.
So, what the heck happened from August to the end of the year? How did they miss so bad on revenue and all the cash dry up? What happened is what we all should be asking or were they just blowing smoke because that is a huge miss.
Sory, but you are being intellectually dishonest Jack. I expect better from you. You know what is going on at Plug and the changes occurring that were not mentioned and decided to share this article. You could have at least had the decency to correct his piece, which I have done on his site and the Yahoo. Less all try and be as honest and open about Plug even though they have failed to be with us.
Poorly done piece does not add reduced cost of ceasing construction and $75 million in layoffs. He does not mention the inventory buildout and fails to talk about the across-the-board price increases. These will all have an effect on the future decrease in losses. Half the story is misleading at best and worst biased. Jack, you should know better than to push false and misleading information, which, you yourself, correct people all the time about.
Correct me if I am wrong, but were we not to increase the Ga. plant to 30 TPD? What happened to that work or is that part of the we don't have the money to continue so cease all buildout until and if we get the DOE money?
Looks like that should clear out some inventory. I hope we got decent margins on it.
was that news out just so they could stir demand to drop more shares? I hate to wish bad on anyone, but if there is such a thing as Karma, Andy and Paul have it coming in spades!
This is a song that goes out to Andy Marsh that truly fits!
I am doubtful we have enough to cover the current business interest and what the price differential is to what we buy it at. I suspect the supplier prices will come down as more supply hits the market depending on the addressable market.
I guess that answers your question from the other day as to what they were producing. I say about dam time, and we should be at what 200 tpd by now? Glad we are at least heading in the right direction. Maybe, the learning curve is over, and they can now be more realistic.
I wonder if we are involved in any of these? https://www.energy.gov/articles/biden-harris-administration-announces-first-projects-receiving-clean-energy-manufacturing
Sorry, but if their plan was to destroy themselves and implode the company and short, them, I guess you are right. Otherwise, I guess you are trying to be funny or sarcastic. If not, then you are delusional.
I have to agree you never get bad news from PLUG unless an analyst asks a direct question. If you know one maybe you can get him or her to ask some tough questions.
SCMets on Yahoo has driven by a few times. I would go but it would take me all day to get there and back. He has never walked inside to ask what was going on, but just drove by I think.
Well, if they had done thing right as you say we would be profitable by now instead of near financial collapse or a reverse split. You also realize all the misses on revenues quarter after quarter, the accounting issues and fine, the promise to be BE that never happened, the statement we don't need money and then dilution a few times. Lies, distortion, mismanagement and screw ups like the Ga. plant 3 openings. There's just too much to give these clowns a pass. Andy and Paul should fall on a knife if they were honorable men and resign.
Suspect most recent changes will not show this quarter, but a reduced inventory and spending since projects have stopped ought to stem the losses a bit. We should see a small decease in our fuel cost. Things should improve on the cost and revenue side as the supply of our own fuel increases, the price increases and the savings from layoffs show up. The big offset is the increased share count that hangs over us. We need a Hail Mary pass.
So, Ballard, a once second-rate fuel cell provider we used to use that put out a sub-par product must be doing better because they seem to be getting quite a few deals we are not getting. The shotgun approach.to going after everything and not doing anything that well, but forklifts, seems to have hurt us. Maybe it is time to focus on what we do best or the most potentially profitable and sell off other units? I wonder what the drone, airplane and van businesses have cost us versus their potential any time in the near future. Maybe it is time to start asking the hard questions and start doing what we do well.
Sadly, that looks like where we are heading also. 45V was important to signal it is isafe to dip your toes in the water and they messed it up and delayed it. Prett typical of this administration to promise a bunch and then slow walk it or forget about it. Gee, sounds like Andy. Either way Plug cannot get a break. This story is getting uglier.