Plug Power Inc (PLUG)

[uksausage]

It was only 2 years ago - maybe only 18 months. The Microsoft project at Albany proved that xMW of fuel cells could run for 48 hours straight supplying the right power needed for data centers. Caterpillar with Ballard have completed the same test as part of a DOE grant with Microsoft.
The plan as laid out then was for a gen 2 system to be installed at a test site for Microsoft AFAIK that was done last year (3MW I think), a prototype (1MW) was delivered to another Datacenter customer though so at least one stationary system is in operation. Similarly the EV charging system has at least one early customer installation.

The next generation of large stationary systems with better integration of components and packaging was scheduled for this year and would involve an installation at a Microsoft DC of their choosing and hopefully multiple EV charging locations. If successful this would then start the commercial discussions about pricing and roll out (I suspect with at least one other but more likely two other companies. - Bloom and Caterpillar/Ballad) so roll out would be 2026 at the earliest. Until there is is sufficient guaranteed hydrogen supply they aren't going to do many and the costs of these systems needs to come down before they make commercial sense compared with Diesel. or Nat gas systems.

As with so many of the “Applications” as PLUG likes to call them scale will matter, only material handling with the thousands a year of fuel cells have shown to be able to be priced competitively.

The strategy set out 3 years ago focussed on producing the H2 that the country needs now so that when the applications are commercially viable there is the H2 to meet demand. With the production plants now 24 months behind the original timeline we have seen even material handling sites pushed back due to uncertain H2 supply. (not just from PLUG)

The govt needs to urgently get H2 production up and running hence the DOE loan for PLUG.