Plug Power Inc (PLUG): Washington Bets on Green Hydrogen and Co...

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Sunday, 01/15/2023 8:43:32 AM

Sunday, January 15, 2023 8:43:32 AM

Washington Bets on Green Hydrogen and Companies Line Up to Cash In
Plug Power hopes to be profitable for the first time in its 25-year history on back of new law
By Amrith Ramkuma for The Wall Street Journal
Updated Jan. 14, 2023
https://www.wsj.com/articles/washington-bets-on-green-hydrogen-and-companies-line-up-to-cash-in-11673647372

KINGSLAND, Georgia—Andy Marsh tried for 14 years to make a profit running Plug Power Inc. Last summer he went to Washington and came away with a potential windfall.

While senators battled over the climate, tax and spending bill, there was surprising agreement that hydrogen, Plug Power’s business, needed a big dose of support. “My biggest concern that I have right now is that we have not invested the money that we needed to invest in hydrogen,” West Virginia Sen. Joe Manchin said at a hearing in July when he was blocking the overall package.