Plug Power Inc (PLUG)

[B_B!]

Nearly all of the firm’s revenue to date has come from sales of its fuel cell power generators, which can run on biomethane, natural gas, or hydrogen, while its solid-oxide electrolyser, which operates at a high-temperature in order to produce more hydrogen per kilowatt-hour of electricity input compared to other technologies, is still “in the early stages of commercialization”.

The California-based company also noted that much of its revenue hinged on anchor customers, with two clients accounting for 37% and 26% each of the $1.3bn it reported for 2023.

“The loss of any large customer order or any delays in installations of new products with any large customer would materially and adversely affect our business results,” it warned.
https://www.hydrogeninsight.com/power/us-hydrogen-firm-bloom-energy-posts-209m-loss-for-2023-with-nearly-4bn-deficit-accrued-to-date/2-1-1600018