Plug Power Inc (PLUG)

[B_B!]

I think it is easier and cheaper to get a loan for a nearly completed facility than a loan for a facility that has yet to be build.
Most construction costs are already known.
A loan with collateral is less risky for the lender, it often has a lower interest rate than unsecured loans.


Plug Power: Sell The Rally On Poor Business Prospects And Likelihood Of Major Dilution
Department Of Energy
Jan. 23, 2024
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As an example, in late August, aspiring zinc-based energy storage solutions provider Eos Energy Enterprises, Inc. (EOSE) or "Eos Energy" was provided a conditional $398.6 million loan guarantee commitment by the DOE but the company still hasn't satisfied all conditions for closing the loan.

With Plug Power's loan application being 4x larger and covering up to six different green hydrogen plants, I would expect review and funding to take even longer. In fact, I wouldn't be surprised to see closing being delayed beyond the U.S. presidential elections.
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https://seekingalpha.com/article/4664541-plug-power-sell-the-rally-poor-business-prospects-major-dilution-risk?source=copy_to_clipboard


Eos Energy Enterprises Announces ‘Project AMAZE,’ a $500M Program to Address Long-Duration Energy Storage Demand
U.S. Department of Energy issues conditional commitment for a loan to finance up to 80% of Project AMAZE – American Made Zinc Energy
Turtle Creek, PA August 31, 2023
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if the loan is finalized, would fund 80% of Eos’ planned expansion.
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https://www.eose.com/eos-energy-enterprises-announces-project-amaze-a-500m-program-to-address-long-duration-energy-storage-demand/