Repost from Stocktwits board, courtesy of Gio_F.
Another poster, B_B , who occasionally also posts here, had a very similar post.

I believe this is a trend in the hydrogen sector for the next couple of years: PEM Electrolyzers are going to gain market share over Alkaline Electrolyzers.

The Norwegian electrolyzer producer Nel ASA issued a press release today. Note: Nel ASA produces both Alkaline Electrolyzers (75% of their ELX revenue) and PEM Electrolyzers (25% of their ELX revenue).

In this press release they specifically write two things:

- About Alkaline:
"Nel has limited need to produce new alkaline electrolyser equipment in the near-term and will adjust its production and organizational capacity correspondingly."

- About PEM:
"Nel sees good near-term opportunities to sell containerized PEM systems."

Source: https://nelhydrogen.com/press-release/nel-asa-adjusts-capacity-to-market-demand/

I think this is a trend we will continue to see and this is bad news for Nel ASA and actually good news for PEM Electrolyzer producers like Plug Power and ITM Power.

JB, thanks for clarifying. That makes more sense to me, as next week the Trump administration takes over.

JB, did he say "next week" or "by next week"?

UK, thanks.

UK, how confident are you on the DOE getting finalized?

JB, thanks. I've been adding to my long position. I was surprised it opened lower, which I considered a gift, and an opportunity to add more shares to my position.

JB, have you covered your short positions on PLUG yet?

Exclusive Interview: Plug Power CEO Andy Marsh on Green Hydrogen's Future

The Hydrogen Podcast
1.49K subscribers
Posted 3 hours ago

Plug Power's Stock Skyrockets as U.S. Treasury Updates Hydrogen Tax Credit Rules, Bolstering Investment in Clean Hydrogen Development
13 January, 2025
https://folikoinsights.com/article/PLUG/2025/01/13/plug-powers-stock-skyrockets-as-u-s-treasury-updates-hydrogen-tax-credit-rules-bolstering-investment

Key Takeaways
- Plug Power's stock experienced a notable increase after favorable government guidance on hydrogen production incentives.
- A substantial loan from the U.S. Department of Energy supports the company's clean hydrogen projects.
- The firm successfully fulfilled its initial customer order for liquid hydrogen, demonstrating market readiness.
- Current share prices reflect positive investor sentiment towards the green hydrogen industry.
- The company is positioned for significant long-term growth in the expanding hydrogen market.

Plug Power's stock has experienced a dramatic surge, rising approximately 23.18%, as of last week, following the U.S. Treasury's final guidance on the 45V Production Tax Credit. This new policy allows companies to qualify for up to $3 per kilogram for hydrogen production based on carbon emissions, significantly benefiting Plug Power and its ambitions in the green hydrogen market.

The company, which focuses on the green hydrogen supply chain by manufacturing fuel cells and electrolyzers, recently took a major leap forward by securing a $1.6 billion loan commitment from the U.S. Department of Energy. This funding is expected to bolster its clean hydrogen development efforts.

Despite the upbeat news and the rising interest from investors, Plug Power is facing challenges in meeting hydrogen supply demands, albeit it has successfully completed its first customer order for liquid hydrogen. The recent price increase reflects renewed investor confidence driven by the restructured tax incentives, underscoring the optimism surrounding a greener hydrogen future.

As of now, Plug Power's shares are trading at $3.15, marking a robust interest from the market. Investors should closely monitor the impact of the new tax credits as Plug Power continues to navigate through supply chain challenges and leverages funding to solidify its position in the burgeoning clean hydrogen sector.

Hydrogen Truck Breaks World Record & The #1 Driver Of Hydrogen Success In 2025

The Hydrogen Podcast
Posted 10 days ago

Hydrogen Truck Breaks World Record & The #1 Driver Of Hydrogen Success In 2025

The Hydrogen Podcast
Posted 10 days ago

Hydrogen Truck Breaks World Record & The #1 Driver Of Hydrogen Success In 2025

The Hydrogen Podcast
Posted 10 days ago

Hydrogen Truck Breaks World Record & The #1 Driver Of Hydrogen Success In 2025

The Hydrogen Podcast
Posted 10 days ago

KAM, I knew that and so everyone else on this board, so need for me or you to point it out. The relevance to Plug Power, is that if hydrogen trucks succeed in replacing diesel trucks, it creates a market for Plug Power's hydrogen production branch of the company.

You still did not answer the questions from my previous post. What prompted you to start posting on the PLUG board? Why are you bearish on PLUG?

UBS Global Energy & Utilities Conference
From January 13, 2025 9:00 AM ET to January 15, 2025 4:00 PM ET
Park City, Utah
Andy Marsh, CEO | Kevin O’Brien, Manager Investor Relations
https://www.ir.plugpower.com/events-and-presentations/events/event-details/2025/UBS-Global-Energy--Utilities-Conference/default.aspx

Hydrogen-powered rescue truck just smashed a world record, and it only spits out water
Breaking records with zero emissions
Published January 12, 2025
https://www.foxnews.com/tech/hydrogen-powered-rescue-truck-just-smashed-world-record-only-spits-out-water

Hydrogen-powered rescue truck just smashed a world record, and it only spits out water
Breaking records with zero emissions
Published January 12, 2025
https://www.foxnews.com/tech/hydrogen-powered-rescue-truck-just-smashed-world-record-only-spits-out-water

Hydrogen-powered rescue truck just smashed a world record, and it only spits out water
Breaking records with zero emissions
Published January 12, 2025
https://www.foxnews.com/tech/hydrogen-powered-rescue-truck-just-smashed-world-record-only-spits-out-water

Hydrogen-powered rescue truck just smashed a world record, and it only spits out water
Breaking records with zero emissions
Published January 12, 2025
https://www.foxnews.com/tech/hydrogen-powered-rescue-truck-just-smashed-world-record-only-spits-out-water

KAM, welcome to the PLUG board. Financial reports are not my strength (1st link in your post), I followed your instructions for the second link, nothing came up. Can you please just tell us what your point is? Apparently your are currently bearish on PLUG, can you please elaborate as to why? Thank you in advance.

Treasury Finalizes Rules for Clean Hydrogen Production Tax Credit (Section 45V)
January 10, 2025
https://www.foleyhoag.com/news-and-insights/publications/alerts-and-updates/2025/january/treasury-finalizes-rules-for-clean-hydrogen-production-tax-credit-(section-45v)/

Treasury Finalizes Rules for Clean Hydrogen Production Tax Credit (Section 45V)
January 10, 2025
https://www.foleyhoag.com/news-and-insights/publications/alerts-and-updates/2025/january/treasury-finalizes-rules-for-clean-hydrogen-production-tax-credit-(section-45v)/

Treasury Finalizes Rules for Clean Hydrogen Production Tax Credit (Section 45V)
January 10, 2025
https://www.foleyhoag.com/news-and-insights/publications/alerts-and-updates/2025/january/treasury-finalizes-rules-for-clean-hydrogen-production-tax-credit-(section-45v)/

Treasury Finalizes Rules for Clean Hydrogen Production Tax Credit (Section 45V)
January 10, 2025
https://www.foleyhoag.com/news-and-insights/publications/alerts-and-updates/2025/january/treasury-finalizes-rules-for-clean-hydrogen-production-tax-credit-(section-45v)/

EVgo Receives First Drawdown from $1.25 Billion Loan Guarantee
January 8, 2025
https://investors.evgo.com/news/news-details/2025/EVgo-Receives-First-Drawdown-from-1.25-Billion-Loan-Guarantee/default.aspx

$75 million drawdown will support deployment of convenient, reliable public charging infrastructure nationwide

LOS ANGELES--(BUSINESS WIRE)-- EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”) today announced it has received its first drawdown of $75 million from its $1.25 billion guaranteed loan from the U.S. Department of Energy (“DOE”) Loan Programs Office (“LPO”) under its Title 17 Clean Energy Financing Program, which reached financial close in December 2024 after a thorough 18-month process. This and subsequent drawdowns over the 5-year deployment period will support the Company’s ongoing buildout efforts to deploy nationwide charging infrastructure. EVgo has already built the first new stalls financed by the loan and will continue to prioritize installations in amenity-rich locations offering retail, dining, shopping and service options across the United States.


A newly opened EVgo station in Florida built with financing from the DOE Loan Programs Office
(Photo: Business Wire)

“The timely completion of this first drawdown underscores EVgo’s operational expertise and ability to meet DOE requirements,” said EVgo CEO, Badar Khan. “EVgo’s comprehensive network plan helps address the growing demand for public charging infrastructure by bringing our industry-leading fast charging solutions to more drivers than ever before. DOE’s low-cost financing enables EVgo to more than triple our network size by 2029, building our operational and financial scale and expanding our geographic footprint.”

Building high-power public charging at scale bolsters range confidence for Americans as they consider the choice to drive an EV. Further, expanding fast charging infrastructure is critical to the success of the investments made by the automotive industry, which is expected to release over 30 new affordable EV models by the end of 20251 in addition to the more than 70 vehicle models already available to American consumers.2 With faster charge rates, standardized charging cables, and the rise of autonomous vehicles, demand for reliable charging continues to climb.

As part of EVgo’s $1.25 billion loan guarantee, the Company will construct approximately 7,500 new public fast charging stalls across the country, bringing EVgo’s total owned and operated network to at least 10,000 fast charging stalls across the U.S. by 2029.

For more information about the EVgo network, visit www.evgo.com .

About EVgo

EVgo (Nasdaq: EVGO) is one of the nation’s leading public fast charging providers. With more than 1,000 fast charging stations across 40 states, EVgo strategically deploys localized and accessible charging infrastructure by partnering with leading businesses across the U.S., including retailers, grocery stores, restaurants, shopping centers, gas stations, rideshare operators, and autonomous vehicle companies. At its dedicated Innovation Lab, EVgo performs extensive interoperability testing and has ongoing technical collaborations with leading automakers and industry partners to advance the EV charging industry and deliver a seamless charging experience.

https://seekingalpha.com/article/4748880-plug-power-buy-the-pullback-technical-analysis

Plug Power Appears on Verge of Closing Critical DOE Loan, a Lifeline for the Cash-Strapped Hydrogen Company, Based on DOE Website Change
Jan 10, 2025, 3:24 pm
https://hntrbrk.com/plug-power-2/

Plug Power Inc. appears to be on the brink of receiving a loan guarantee from the Department of Energy, according to a DOE Loan Programs Office (LPO) page tracked by Hunterbrook Media. When the loan was conditionally approved in May, the DOE said it would be for $1.66 billion.

On Friday, the page under a URL that includes Plug’s company name turned from “Page not found” to “Access denied” — indicating that it now exists on the website, but is not public.

The page’s error message also changed, from “The requested page could not be found” to “You are not authorized to access this page.”

This is a pattern that in the past has signaled a loan approval was about to be announced. A project page for Eos Energy Enterprises’ (NASDAQ: $EOSE) $305 million DOE loan guarantee was first indexed on the Internet Archive on December 1 — showing an “Access denied” message. The finalized loan was announced on that same page two days later, on December 3.

Hunterbrook has been pinging the DOE page “https://www.energy.gov/lpo/plug-power” every 15 minutes for more than five weeks. (That’s more than 3,300 pings!)

Hunterbrook has also been pinging similar web pages for eight other companies. This is the first time we have caught a page flipping from “Page not found” to “Access denied.”

At this time, it is unclear whether Plug’s loan will be for the full $1.66 billion originally promised — or if it has changed in some way since being conditionally approved. Asked for comment on the significance of the website update, the DOE did not immediately reply.

Hunterbrook found a series of red flags regarding Plug’s “green” hydrogen projects

Plug is racing to finish the DOE loan approval process before Inauguration Day, fearing the Trump administration may cancel the conditional loan. The loan would be a critical lifeline for the company, which has faced dwindling cash and declining margins: A Hunterbrook analysis of Plug’s public financial documents in December revealed limited resources due to ongoing operating losses and significant investments in working capital and expansion.

A separate Hunterbrook investigation also found potential major roadblocks to getting the loan approved: Plug may not be able to secure enough water for planned hydrogen plants and may not have a credible plan for paying the loan back.

A review of documents and permits showed that Plug’s plant in Georgia uses at least seven times more water than the company publicly claimed. While Plug’s website says that the facility would use a maximum of 74,300 gallons of water per day, the company already has access to 587,520 gallons daily and stated in a groundwater withdrawal application that it will need up to a million gallons daily to operate the plant. Overall, Plug is aiming to secure a total of up to 1.7 million gallons per day for the Georgia facility.

This threatens Plug’s planned expansion in Texas because the company only secured 500,000 gallons of water per day for hydrogen production at its new plant outside Dallas-Forth Worth, where it aims to produce three times more liquid hydrogen than it does in Georgia. The planned facility in Texas is part of Plug’s loan application, and adequate access to inputs like water is one of the DOE’s criteria for approving project loans.

The DOE in December published a Draft Environmental Assessment for Plug’s Texas project that found that it does not have a significant effect on the human environment and does not require an environmental impact statement, a document that outlines the impact of a proposed project on its surroundings.

The DOE sprints to close loans before the next administration

Since the presidential election, the LPO has been rapidly finalizing loans before the new administration takes office.

In just the past two months, it has announced the finalization of loans to companies ranging from battery manufacturer BlueOval to solar manufacturer Qcells.

The office has also received scrutiny, including via an Inspector General’s report that found inadequate protections from conflicts of interest. The DOE rejected the findings, calling them “both baseless and vastly disproportionate.”

Notably, the Inspector General claimed that the LPO had not only “already closed 15 loans and loan guarantees for over $15 billion since 2021,” but was “currently planning to close an additional $22 billion in loans and loan guarantees for an additional 13 projects before January 20, 2025.”

Included among these, presumably, is Plug Power, which is one of just over a couple dozen recipients of conditional loans.

Plug has repeatedly expressed confidence that it would close the loan before the next administration takes office. In a November research note, an analyst from Jefferies stated that management had “expressed their confidence in closing the DoE loan on or before Jan 20th.”

In an investor call in November, Plug CEO Andy Marsh said: “I think when you look at the DOE loan, we have a clear path with the DOE to close that out before changing administration.”
He told Politico: “There’s nothing like seeing your own coffin to get you moving faster.”

U.S. Department of the Treasury Releases Proposed Rules for Qualified Commercial Clean Vehicles
January 10, 2025
https://home.treasury.gov/news/press-releases/jy2776

U.S. Department of the Treasury Releases Proposed Rules for Qualified Commercial Clean Vehicles
January 10, 2025
https://home.treasury.gov/news/press-releases/jy2776

U.S. Department of the Treasury Releases Proposed Rules for Qualified Commercial Clean Vehicles
January 10, 2025
https://home.treasury.gov/news/press-releases/jy2776

U.S. Department of the Treasury Releases Proposed Rules for Qualified Commercial Clean Vehicles
January 10, 2025
https://home.treasury.gov/news/press-releases/jy2776

INTERVIEW - Plug's CEO confident about loan deal and future under Trump
Jan 10, 2025
https://renewablesnow.com/news/interview-plugs-ceo-confident-about-loan-deal-and-future-under-trump-1269142/

Andy Marsh, CEO of Plug Power Inc (NASDAQ:PLUG), is very optimistic about the company’s prospects of finalising its long-awaited loan guarantee deal with the US Department of Energy (DOE) but, in the meantime, Plug is also looking to bring in an equity investor to support the work on its next green hydrogen plant, Marsh told Renewables Now.

THE DOE LOAN

In mid-May 2024, the company got a conditional commitment from the DOE for an up-to-USD-1.66-billion (EUR 1.61bn) loan guarantee that is crucial for its ability to build as many as six additional green hydrogen production facilities at scale.

According to Marsh, there is a “high probability” that the company closes out the loan agreement before the change in the administration.

“We're just really dotting the I’s and crossing the T’s on the legal documentation so that we can finalise it sometime in the next couple of weeks,” Marsh said in an interview. “At around 5.5%, the DOE loan will dramatically reduce the cost of capital, which makes the return on the investment much quicker.”

He added that regardless of whether the deal is closed, the company has equity investors keen on participating in its expansion plans. “We will probably bring an equity investor in even after the DOE loan is finalised,” he noted.

THE 45V FINAL RULES

On the topic of the recently-released final rules for the section 45V Clean Hydrogen Production Tax Credit, Marsh stated that they are “much, much better than they were” and specifically underscored some of the changes such as those associated with nuclear power and renewable energy credits, as well as the extension of the transition period for the time-matching requirement.

“I do think, though, that there are real opportunities to engage with the Trump administration. We think the three pillars across the board are not part of the legislative intent, and we think the Trump administration may be much more interested in reducing those regulations than we've seen under the Biden administration. We're really pleased with the progress, but we think that still there's areas for improvement,” Marsh commented.

At the same time, the CEO is not that worried about the possibility of the incoming administration backpedalling on clean energy commitments.

“If you think about it, 80% of the IRA projects are going on in red congressional districts today and so much of our projects and our supply chain is in areas which benefit Republican Congress. Hydrogen quite honestly is going to be vital for the long-term energy independence of the US and not only is it a good market for our own energy security, but it is also a good market potentially, especially with derivatives like green ammonia, for exporting. So I think what we do aligns with the Republican goals, and if you go back to 2018, there was major legislation to support tax credits for hydrogen fuel cells which actually happened under a Republican Congress and a Republican president,” Marsh explained.

PROJECTS ADVANCEMENT

Plug’s head is also confident that with the final rules in place, there will be an acceleration in the announcements of final investment decisions for green hydrogen projects, which should result in the placement of firm orders for electrolysers. Plug itself expects to step up the construction of Project Limestone in Texas once the DOE loan is concluded. It is the first of the six plants the company intends to build using the money.

Marsh believes that building the facility in Texas would allow the company to rely solely on its own hydrogen production to serve existing customers. Whether the company would invest in the construction of more plants beyond those six would depend on the growth of the hydrogen economy, he pointed out.

“I think 2024 was a year for us to really make sure we strengthen our financials and I think that's one of the reasons you're seeing the stock price improved. I do expect that we will continue to be looking at investment opportunities in 2025, but I think a lot of those investment opportunities will be done in partnerships with some really viable companies,” he concluded.

The KRA, great find, thanks for posting. With respect to the timing, during the presentation Christian Appel mentions that Nikola celebrated the National Truck Driver Appreciation Week the previous week, which was in mid September 2024.

Repost from PLUG board, courtesy of BottomBounce.

US loosens hydrogen tax credit rules: nuclear, methane and delayed deadline https://www.power-technology.com/news/us-loosens-hydrogen-tax-credit-rules-nuclear-methane-and-delayed-deadline/

However, doesn't look good for STAMP site in upstate NY. See Appendix C, and the letter on last page of the report. Link https://www.energy.gov/sites/default/files/2024-12/Limestone%20EA_draft%20clean%20120424%20.pdf

Key excerpt, Draft Environmental Assessment, Section 4, Page 41.
Link https://www.energy.gov/sites/default/files/2024-12/Limestone%20EA_draft%20clean%20120424%20.pdf

4. DRAFT FINDING

Based on this EA, DOE has determined that providing a federal loan guarantee to Plug Power to construct and operate a green hydrogen production facility in unincorporated Young County, Texas, will not have a significant effect on the human environment. Preparation of an environmental impact statement is therefore not required. DOE is issuing this Finding of No Significant Impact.

This Finding of No Significant Impact should not be construed as a final decision about issuance of a loan guarantee.

Repost from Stocktwits board, courtesy of B_B_

https://www.energy.gov/lpo/nepa-related-public-involvement

https://www.energy.gov/lpo/ea-2281-draft-environmental-assessment-limestone-green-hydrogen-production-project

https://www.energy.gov/sites/default/files/2024-12/Limestone%20EA_draft%20clean%20120424%20.pdf

https://seekingalpha.com/article/4748300-plug-power-could-the-completion-of-the-1-66-billion-doe-loan-trigger-a-short-squeeze

JB, your previous post is not visible/accessible.

Giacomino, welcome to the PLUG board. Do the following articles answer your question?

Plug to Receive Federal Clean Hydrogen Production Tax Credit at Georgia Hydrogen Facility
June 28, 2024
https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-to-Receive-Federal-Clean-Hydrogen-Production-Tax-Credit-at-Georgia-Hydrogen-Facility/default.aspx

LATHAM, N.Y., June 28, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, which began commercial operation of its electrolytic hydrogen facility in Woodbine, Ga. earlier this year, intends to recognize the benefits of the Inflation Reduction Act’s (IRA) Section 45V Credit for the Production of Clean Hydrogen (PTC) in its forthcoming quarterly financial reports. Plug will be one of the first producers of clean hydrogen in the United States that anticipates utilizing this new incentive enacted by an Act of Congress and signed by President Biden.

The PTC offers a production credit of up to $3.00 per kilogram for clean hydrogen (H2) produced in the U.S., providing a substantial financial incentive for hydrogen production in the U.S, substantially lowering the cost of hydrogen production in the U.S. market. This incentive allows newer, cleaner technologies, such as electrolytic hydrogen, which is produced from water, to be more cost competitive with incumbent fossil fuel technologies.

With the passage of the IRA, the U.S. government has made it clear that clean hydrogen is essential to decarbonizing hard-to-abate industries, combat global climate change, improve U.S. energy security, and build a domestic clean energy manufacturing economy.

In the case of Plug’s fuel operations and sales of fuel to its customers, this benefit will provide a meaningful reduction in the Company’s fuel costs. This benefit is one of the key factors that will enable Plug to drive overall fuel margin to a break even run rate by end of the year and positions Plug for growing positive fuel margins in 2025 and beyond.

"Government support for clean hydrogen is critical to achieving global mid-century decarbonization goals,” stated Plug CEO Andy Marsh. “By leveraging these incentives, we can scale our hydrogen production capabilities and catalyze industry-wide technological advancements. The use of the PTC will drive innovation and investment in clean hydrogen solutions, which are essential for a sustainable future.”

Plug’s 15 ton-per-day (TPD) Georgia facility is the largest electrolytic liquid hydrogen production plant and largest PEM electrolyzer in the U.S. representing a landmark achievement in Plug’s build-out of a vertically integrated hydrogen ecosystem.

In addition to its hydrogen plant in Georgia, Plug is expanding its presence with an already existing 10 TPD plant in Tennessee, and a 15 TPD liquid hydrogen facility in Louisiana scheduled to be operational by the end of 2024. Plug also has a pipeline of future plant developments across the United States and is actively engaged with key strategic suppliers to facilitate the expansion of its green hydrogen network and to achieve cost-effectiveness in green hydrogen production at scale.

Plug intends to fully pursue and utilize the transformative Section 45V framework as it continues to develop, construct, and operate hydrogen generation facilities across the U.S.

About Plug

Plug is building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation, to help its customers meet their business goals and decarbonize the economy. In creating the first commercially viable market for hydrogen fuel cell technology, the company has deployed more than 69,000 fuel cell systems and over 250 fueling stations, more than anyone else in the world, and is the largest buyer of liquid hydrogen.

With plans to operate a green hydrogen highway across North America and Europe, Plug built a state-of-the-art Gigafactory to produce electrolyzers and fuel cells and is developing multiple green hydrogen production plants targeting commercial operation by year-end 2028. Plug delivers its green hydrogen solutions directly to its customers and through joint venture partners into multiple environments, including material handling, e-mobility, power generation, and industrial applications.

For more information, visit www.plugpower.com.



Plug to receive federal clean H2 production tax credit at Georgia H2 facility
28 Jun 2024
https://www.h2-tech.com/news/2024/06-2024/plug-to-receive-federal-clean-h2-production-tax-credit-at-georgia-h2-facility/



'We are already getting US clean hydrogen tax credits to make H2 for almost $2/kg': Plug Power
Oct 30, 2024
https://energycentral.com/c/cp/we-are-already-getting-us-clean-hydrogen-tax-credits-make-h2-almost-2kg-plug

The green hydrogen firm’s CEO Andy Marsh tells Hydrogen Insight that the company’s Georgia plant already meets the so-called 'three pillars' for sourcing zero-carbon electricity

Plug Power raised eyebrows this summer when the green hydrogen technology firm announced that it would recognise the 45V clean hydrogen production tax credit in its financial reports for its plant in Woodbine, Georgia — even though the rules for claiming the top $3/kg rate have not yet been finalised.