Plug Power Inc (PLUG)

[JMI]

Wrong again Jack, that's not what I said.

Perhaps it would enlighten you to look at the actual statements PLUG has made about the China deal. Here are some quotes fro the Transcript I Linked in an earlier post. in the Q & A session:

" So, as I mentioned a few weeks ago, we are in the enviable position where we don't have to be as anxious with China because of our positions with Walmart, Amazon, and in general in the material handling industry. We've been spending a good deal of time thinking through who are the right partners, where is the right place to start in China, now we have vehicles under testing on the road, but we're not – we're not feeling the pressure to just make a deal. And so we're going through this methodically, thoughtfully, but probably most importantly, number one, and number two, number three, and number four, are in our priority list,....."

Also:

" I think that the testing has been – we've been quite pleased with the testing. We've gone through qualifications at the central location. We're continuing to test with the OEM. It's actually been fairly smooth for a new product. When I think about the considerations, two items hang over us – hang over when we think about China, one is that, I’ve reiterated this on a number of occasions. We want partners who are serious about the business for the long-term. Who have thoughtful plans for the market that think through the challenges of not only putting vehicles on the road, but understand the complexities of hydrogen and how deployments rationally can occur. And that's – I’ve Spoken to many people in China, I bet we’ve had over 40 people come to the facility here and I would say only 10% to 15% that I would sit back and say they understand the complexity – complexity may not be the right word for the challenges associated with introducing electric vehicles based on fuel cell technologies, especially when it comes to availability of hydrogen. I think the second consideration is that finding a partner with the financial depth to support deployment. There’s many – as many people know the – in China many companies are highly leveraged and that we're looking for partnering with folks who have the financial viability to sustain a business for the long run and not treat it as a gamble and load a company up with debt to achieve market penetration. We think there needs to be a rational mix of equity and debt with any partnership we go into."

So the testing is ongoing, the partnership discussions are ongoing. It's premature to say "there is no deal" when nobody expected a signed/sealed/delivered deal as of yet.

It's like you saying to a pregnant woman at 6 months "there is no baby".

Just the Facts...




JMI