Plug Power Inc (PLUG)

[uksausage]

IMHO I think you over estimate the length of time before MEA fuel cell make it to market.

It took PLUG and many other technology leaders 5 years to go from first end customer trials to having proven serviceable solution for deployment to a wide customer base.

I am not under estimating this - I have worked in technollogy product introductions for a long time.

Assuming you have a product in the lab ready to be sold (big assumption in case of MRFC and ERC).

You need to ascertain a real market for your product and develop the 7 point product marketing plan (or at least the 4 Ps).
You need a sales force, contracts and service personnel in place
You need to secure initial customers
You need to develop manufacturing capability
you can then supply to first customers and over them to death with service until products start behaving as promised.
After first deliveries have proven themselves you follow through with the full delivery for that customer
You then can start selling to another customer based on the experience customer one has
you then have to fix your service and other processes to support multiple customers
etc etc

After 2-3 years you may win a big contract (like PLUG won Walmart) that introduces problems with scale etc

after three more years you are ready to be generally available.

now lets talk about Spectrum. Does they management really expect to sell FCEL and ERC technology to the Dade county school board?

I do expect they will fund a real marketing strategy and review which by the end of the year may produce the product marketing plan referred to. then start to recruit a sales team...