Plug Power Inc (PLUG) Share Price

HYDROGEN WORKS .... HYDROGEN ECONOMICS DON'T !

https://finance.yahoo.com/news/green-hydrogen-hype-fades-high-133918090.html

Yet another BIG HYDROGEN CANCELLATION ?

FIVE MAJOR HYDROGEN PROJECTS Cancelled !

All for similar reasons:

https://www.hydrogeninsight.com/electrolysers/mcphy-abandons-24mw-green-hydrogen-project-seven-days-after-announcing-it/2-1-1719981

Five BIG Projects, this is NOT GOOD.

"However, it has become clear that the hydrogen market is developing more slowly than anticipated"

this is the same conclusion that many are coming too...its just that some are a bit slower to realize that...when something is going to cost companies hundreds of billions of dollars and cost the Gov trillions of dollars, i dont know how in the hell anyone could have thought it would be done quickly???....i guess some must have thought that if you, LITERALLY threw money at a problem, that problem would somehow get fixed...smh

the whole idea of that money was to deal with climate change and help the world recover from the shitty way that we have treated it...to our detriment...but the vast majority of the people who were seeking that money, have that goal probably somewhere down around number 7 on their list of things to do with that money...the Gov and business pigs and hogs want to see how much they can stuff into their pockets first...then company coffers...then they will join alliances or collaborate with others to create groups that will hopefully be able to suck the most money out of the Gov...they will come up with ideas that may sound good or may even be ridiculous...who cares?..the Gov is giving away free money!...and who knows, maybe somewhere along the way some good will actually come of it...but not before they go after trillions more in round 2 of financing...

"and there remain risks and both input cost and technology advancements to overcome."

translation: the jig is up...the Gov is coming to the conclusion that throwing money at the problem may not actually be the solution...and some businesses are starting to see the writing on the wall...

and the 45v is another example of Gov regulators realizing that sending out corporate welfare checks may not be the solution...

Origin Energy one of the top 3 utilities in Australia announced it will exit the govt backed Hunter Valley hydrogen hub project after attending a fact finding trip to Gastech.

Citing market uncertainty and high risks they say they do not see a pathway to a FID.. Origin told investors that it "intends to cease work on all hydrogen development opportunities".

"Origin CEO Frank Calabria said: “We continue to believe hydrogen could play a role in the future energy mix. However, it has become clear that the hydrogen market is developing more slowly than anticipated, and there remain risks and both input cost and technology advancements to overcome.” "

Steve - Nope. Just before an election every number out of Washington is suspect..

But it's sentiment that is the driver today, just like Hype and Froth. And that's all we have with PLUG.

No believable numbers, no verifiable metrics.

Better that shareholders not know the truth.

You actually do not believe those numbers, do you? Like the 800,000-job revision, these will be changed most likely after the election. Like the port strike it is a 90-day deal and will have to be hashed out. So, unlike everyone else their jobs should not be replaced by technology if it is more efficient?

What as they would say a fun sponge. This guy's been hyping H2 on this podcast and now saying 2050. Well, I doubt seriously at 95 I will be around, much less able to enjoy any gains or get my investment back. Funny, how Andy said we would be doing what $20 or $30 billion by 2030? That is looking more insane every day. Why did we every trust that he knew what he was talking about? I guess we wanted to believe, and he sold us lies.

Good Jobs Numbers. Dock Strike Over. A Good day for stocks.

Wouldn't it be nice if plug rose because of something they achieved instead of just good headlines .

you already posted that so it is not MORE bad news
basically Quebec was ahead of its time….but some interesting analysis which would be good to compare with other passenger car markets

More Bad News :

https://cleantechnica.com/2024/10/02/quebec-hydrogen-fleet-after-four-years-500-per-kg-hydrogen-no-one-used-them/#:~:text=The%20Quebec%20hydrogen%20light%20vehicle,of%20gasoline%2C%20were%20entirely%20predictable.

HERE IS AN INTERESTING READ:


https://finance.yahoo.com/news/green-hydrogen-hype-fades-high-133918090.html

An interesting read:


https://www.esgtoday.com/microsoft-tests-green-hydrogen-as-solution-to-help-decarbonize-data-centers/

MORE BAD NEWS !


https://oilprice.com/Latest-Energy-News/World-News/Australian-Energy-Heavyweight-Quits-Hydrogen-Project.html

Maybe they go in alphabetical order

WTM - Here's a FUN THOUGHT !

Do you think that because PLUG has never used their DOE Guarantee that maybe the DOE gave PLUG's guarantee to EVgo ?

That would be hysterical.

JB, all those finance terms are confusing to me, my weak area, so I rely on you and UK to inform me and correct me when I'm wrong.

WTM - Congrats. As a category, BEV's seem to be doing much better than Fuel Cells.

Perhaps it's because more BEV's are sold in one day than FCEV's are sold in a year.

I was shocked that as such a close PLUG Watcher you did not know (forgot?) about the DOE Guarantee.

JB, thanks. EVGO is currently up 40%, not all the companies I invest in are loosers.

WTM - Actually PLUG already HAS a Conditional Commitment for a DOE Loan Guarantee

PLUG has had this Conditional Commitment for a DOE Loan Guarantee for some time, way before EVgo.

But why the hold-up ? Why NO DOE DOUGH ?

I think PLUG is having difficulty finding a lender, even with the DOE Guarantee.

If I were a bank, I would not be putting my money at risk with a company that has questionable management.

Hopefully Plug Power is next, and very soon. The following DOE loan was announced today for another green energy stock I own, although in a different market. The EVGO share price is currently up over 25% in premarket trading.

EVgo Receives Conditional Commitment for DOE Loan Guarantee of up to $1.05 Billion to Accelerate Buildout of Public Fast Charging Across the U.S.
October 03 2024 - 8:35AM
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/94662902/evgo-receives-conditional-commitment-for-doe-loan

This is a link to NASA fuel cell technology
This link has been deleted THREE TIMES by IHUB in the last hour or so.
WHAT IS GOING ON?

https://ntrs.nasa.gov/api/citations/20220004667/downloads/NASA%20Activities%20in%20Hydrogen%20and%20Fuel%20Cell%20Technologies%20-%2020220320.pdf

The message in the bottle is to MAKE H2 LOCALLY ............

Short answer.

COST EFFECTIVE

Yeh an UPGRADE from SeekingAlpha writer!

How do you upgrade to a sell though?

Many inaccuracies as usual no mention of the loan but at a high level a reasonable assessment.

fortunately the European business is still growing while USA seems stagnant apart from Ford. So many decisions waiting on the election for no real logical reason, but falling interest rates will certainly help things.

Department of Energy Opens Emissions Value Request Process for Clean Hydrogen Production
September 30, 2024
https://www.energy.gov/eere/articles/department-energy-opens-emissions-value-request-process-clean-hydrogen-production

45v to be EASED by Yr end! ... to be followed by LOTS of orders which have been on hold.

Per Treasury yesterday: "we are working to include appropriate adjustments and additional flexibilities to help grow the industry and move projects forward".

https://home.treasury.gov/news/press-releases/jy2625

JB, I appreciate your two posts with your comments on the article since I'm not able to read it. However, wouldn't also make sense to cut and paste the article here, which is much easier to do, so that I can read it together with your comments and thus be able to reach my own conclusions?

REALLY REALLY BAD NEWS !


Plug will need to raise more capital due to the delay with the 45.v rules.

Probably before the next Quarterly report, ... So in the next 30 days.

REALLY BAD NEWS !


The Treasury Department has announced that the 45 v final rules won't be ready until the end of the year and won't look like what Andy is selling.

WTM - Since you are unable to open the SA article , here is another comment to the SA Article you have cited:

1) Material Handling

In Q2, sale of material handling (GenDrive) units were down 73% while deployments of hydrogen infrastructure at customer sites decreased by 70% as the company could no longer afford to subsidize sales with money-losing lease and service offerings.

2) DOE Conditional Loan Guarantee

Considering management's track record, I firmly expect the DOE to impose very harsh conditions in order to protect taxpayers' money. For my part, I do not expect funding anytime soon. In addition, the company won't be able to utilize these funds for covering operating losses.

3) Fuel Cell Adoption in On-Road Applications

This has been a total disaster for companies like Toyota, Honda, Hyundai, Renault and Nikola so far. There's basically no sense in buying FCEVs due to a lack of hydrogen infrastructure and particularly prohibitive operating expenses. Even the heavy duty transport market will likely be dominated by BEVs in the future.

4) Electrolyzers

Another major disaster. Worldwide demand for electrolyzers has been well below initial expectations thus resulting in massive overcapacities.

medium.com/...

Even the author's $790.8 million number for the U.S. market in 2033 looks tiny and please note that the total number also includes alkaline electrolyzers. Apparently, PLUG will have to find foreign buyers for its products.
The business has been a mess since inception with PLUG missing its own expectations by a mile each year.
In addition, the basic engineering and design package story is nonsense as most of these projects make it beyond this initial phase.

5) Green Hydrogen

The author should get his facts straight. The Tennessee plant doesn't produce green hydrogen as it is using waste gas streams from the nearby Olin plant.
"As of the end of 2023, the firm intended to produce green hydrogen at two more factories, in Texas and New York, by the end of 2025." What now? 2023 or 2025? These facilities would require near-term DOE funds but there's basically no way to commence operations until the end of 2025 regardless of the company securing funding or not.
The company does not produce 25 tons per day of green hydrogen as only Georgia is a green hydrogen plant with a capacity of 15 tons per day.
The company is already recognizing tax credits but fuel margins have remained negative.

6) BTIG

Basically all analysts have lowered their price target following the recent Q2 results and disappointing outlook.
Here's an unbiased note on the BTIG statements:

www.investing.com/...

7) BP

There won't be any major near-term electrolyzer demand from BP and other players due to a lack of large-scale projects FIDs.

8) Cash Burn Nonsense

The company burned $1.9 BILLION in 2023 and another $0.7 BILLION in H1/2024

9) Prospects

Over the past decades, the company has failed to deliver on EVERY single promise made by management so why exactly should investors expect this pattern to change?

In sum, this article contains severe factual errors and should be corrected by the author or perhaps even pulled altogether.

WTM - We did model government subsidies in our analyses .

For the 45 v Tax Credits, even if PLUG were to transfer 100% of these credits to the end-users, the comparative economics do not make a compelling case for hydrogen fuel cell applications.

It would be more beneficial for PLUG to keep the tax credits for themselves, for their own sustainability than to transfer them to others.

A market may develop for environmental credits for green hydrogen, but there are still too many critical variables to be addressed to determine this impact on fuel cell applications.

WTM - Since you can't open the SA article, you can't see my response :

"I Strongly Disagree.

What was PLUG's share price at the time of your last article? $2.32
What is PLUG's share price today ? $2.06

As a Sector, Fuel Cell share prices are very close to their ALL TIME LOWS.

Toyota, the largest hydrogen vehicle manufacturer, recently announced major discounts on their hydrogen fuel cell vehicles due to poor sales, and have been sued by existing vehicle owners over resale values, lack of refueling infrastructure and other value decreasing issues.

Specific to PLUG, although PLUG has taken measures to improve it's balance sheet, these measures have not even met internal goals, and PLUG's cash burn rate may require additional capital raises in the near term, especially if the long-awaited DOE backed Loan, continues to be delayed. This Loan is the source of capital for PLUG's expansion plans. The delays are negatively impacting these plans; and if the Loan does not materialize, PLUG's plan "B" would include contraction.

PLUG's misguided Sale / Lease Back deal last month is a good/BAD example of a desperate management taking desperate measures for very little/very expensive capital.

Waiting until a loan or the IRS 45 v rules are finalized seems a safer strategy than betting that PLUG can succeed without them.

__________________________________________

Here is the link for those who can open the link:

https://seekingalpha.com/article/4724499-plug-power-is-a-strong-buy-as-the-number-of-hydrogen-powered-vehicles-looks-poised-to-surge#scroll_comments

I don't have access to this Seeking Alpha article posted today because I don't have a paying account, however, the Google search provided the following summary.
https://seekingalpha.com/article/4724499-plug-power-is-a-strong-buy-as-the-number-of-hydrogen-powered-vehicles-looks-poised-to-surge

"Recent news suggests that the number of hydrogen vehicles will grow significantly, boosting Plug Power's electrolyzer and hydrogen fuel businesses in the long term. Accelerating e-commerce growth positively impacts Plug Power's material-handling business, enhancing its revenue potential."

JB, do any of your economic analyses take into account government incentives (US and/or European) or not? If not, could 45V for example change your conclusions.

Banger - Plug economics work when material handling equipment is used 24/7, indoors,  with little down time for refueling.

Less than 24/7, out of doors, without hourly workers for refueling, then Plugs economics don't work.

you said the economics work for material handling. 87 forklifts in. first warehouse.

PC - Everything about PLUG is Pretty Cheezy , including their NOTHING BURGER .

What do you want on your nothing burger?

Reminder, starts in 15 min.

Plug to Participate in the Wolfe Research Utilities, Midstream & Clean Energy Conference 2024
September 26 2024

Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, announced that it will be featured as a presenting company at the Wolfe Research Utilities, Midstream & Clean Energy Conference 2024 in New York.
Jose Luis Crespo, General Manager, Applications, is scheduled to participate in a panel on clean energy on Tuesday, October 1, 2024 at 8:50 - 9:40 AM EST.

A webcast of the presentation will be available at https://wsw.com/webcast/wolfe11/plug/1959912 beginning at 8:50 AM EST on October 1, 2024 and will be posted on the Investor Resources section of the Company’s website at https://www.ir.plugpower.com/events-and-presentations/default.aspx.

Yet Another Nothing Burger !

Another MULAG. The technology works, The ECONOMICS don't work.

Plig news with Carreras is huge!!



National and International Transport
The transport operational unit has over 90 years of experience developing related services, both domestically and in the European Union countries. It it composed by a young fleet with an average age of two years, and it is equipped with Location GPS systems which can provide a full control of our activities.

In this division Carreras has tautliners, megatrailers, easels, extension, tilt and refrigerators
NATIONAL LEVEL
Full Load.
Special Transport.
Transport at controlled temperatures.
Multi-collection / Multi-delivery.
Groupage transport.
Multimodal, Rail, Maritime.
INTERNATIONAL LEVEL
Full Load.
Multimodal: Maritime.
Multi-collection / Multi – delivery.
Transport at controlled temperatures.
Groupage transport.
Special transport.

Plug Power Collaborates with Carreras Grupo Logístico for Implementation of a Complete Green Hydrogen Ecosystem
Source: GlobeNewswire Inc.

Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, is collaborating with Carreras Grupo Logístico to launch a complete green hydrogen ecosystem in Spain. The initiative will aim to establish, through a fuel cell technology advantages validation project, the first hydrogen-powered logistics site in Spain at Carreras Grupo Logístico's logistics center in Masquefa, Barcelona.
Plug is working with Carreras to replace existing lead-acid battery-powered forklifts with hydrogen fuel cells to support decarbonization and efficiency improvements of Carreras Grupo Logístico’s operations. The transition to green hydrogen will improve energy efficiency, productivity, and sustainability while reducing operational costs.

The project at Masquefa will serve as a testing site to evaluate the improvements using Plug’s technology over batteries. Insights gained from the project will be used to scale the hydrogen fuel cell technology across other sites in Spain and integrate it into Carreras Group’s core logistics business that includes 46 warehouses.

If the project is successful, Plug will deliver to Carreras Grupo Logístico a complete green hydrogen ecosystem, including hydrogen fuel cells, a 1 MW (megawatt) electrolyzer, and a hydrogen refueling station.

"We are excited to work with Carreras Grupo Logístico to usher in a landmark moment: the first hydrogen-powered logistics site in Spain,” noted Plug CEO Andy Marsh. “This strategic collaboration highlights the transformative potential of hydrogen-powered solutions to achieve the twin goals of decarbonization and operational gains in the logistics sector.”

The benefits of hydrogen fuel cells over lead-acid batteries are vast: fuel cells can be refueled within minutes compared to several hours for batteries. The technology increases productivity by minimizing equipment downtime and requires less frequent servicing for a significantly reduced operational cost. Moreover, hydrogen fuel cell technology contributes to reducing the carbon footprint – a priority for Carreras Grupo Logístico.

The global market for hydrogen fuel cell forklifts is growing, with increasing adoption in North America, Europe, and Asia. Major companies like Amazon and Walmart have already deployed tens of thousands of hydrogen fuel cell forklifts in their operations, citing improved productivity and cost savings as key benefits.

About Plug

PC, brilliant.

JACK plug is an ASSet in this energy climate. Grid is down in the country we need alternative energy sources

Posted 4 hrs ago.

Fuzzy - Wouldn't that be useful to know.

PLUG is weak on meaningful metrics.

Better for us to think the worst than to know the worst.

Can anyone tell me how much PLUG sells hydrogen for to it's customers and what is PLUGs cost to produce hydrogen is?

Also how much is it costing them to buy hydrogen ( per Liter or gal or whatever )

Toofuzzy

Here is my reply to the SA article :

PLUG is still way too risky for me.
From $75 to $2.00.
The delay with the DOE backed Loan is worrisome and I doubt PLUG can survive without government handouts.

Finally, PLUG's financial cushion is gone, so PLUG's ability to survive a negative event is greatly reduced, a possible reason why PLUG's Short Interest is over 30%.

"How do you upgrade to a sell though?"

he said he upgraded to a sell from a strong sell...lol

"How do you upgrade to a sell though?"
You start with a strong sell. File under left handed compliment?