Chris, great article thanks for posting. Highlights:
- “Plug Power (NASDAQ:PLUG) built the first commercial market for fuel cells.
- We’ve shipped over 60,000 fuel cell products — so more than anyone else in the world.
- We also have built over 185 fueling stations. So that capability and that turnkey solution really was just the starting point.
- Today, we’re building the first green hydrogen network across the United States, which by 2025 will produce over 200,000 tons a year of green hydrogen.
- And we’ve gone from $1 million in revenue when I started with the company 14 years ago to doing $925 million in revenue this year.
- “In the United States, in the infrastructure bill, there’s actually $9.5 billion for clean hydrogen initiatives; $8 billion for four hydrogen hubs and about $1.5 billion for manufacturing and electrolyzers.
- In the climate bill, one of the areas that has not been controversial is support for the generation of green hydrogen. It’s something that Senator Manchin and Senator Schumer both strongly support, which would have a production tax credit for green hydrogen which would be $3 a kilogram (A kilogram is about equivalent to two gallons of gasoline). So that’s a really exciting prospect for Plug Power, and we think there’s a two in three chance that it will become law.
- On top of that, when you go to Europe — Europe has a very, very aggressive plan to support green hydrogen deployment. We already have one deal in Denmark with a company called H2 Energy that is supported by Trafigura which will deploy 1 gigawatt of our electrolyzer products in the near future.
- And you see the same in Korea where the Assembly this past May passed edicts on deployments of hydrogen.
- And leaders like Mackenzie, Goldman, BloombergNEF all believe that approximately 20% of the world’s energy will come from hydrogen.
