Plug Power Inc (PLUG) Quote

NEW MULTI-YEAR LOWS !

I wonder if PLUG is selling ATM's today ?

That would be Classic.

B_B - More Lame Press Releases ?

Nothing Burger.

PLUG is just trying to Pump up the share price for the ATM.

Plug Signs Additional BEDP Contracts for a Total of 4.5GW of Electrolyzers Across Europe and the United States
April 25, 2024

Expanding Basic Engineering and Design Package (BEDP) Portfolio with an additional 350MW of electrolyzers
LATHAM, N.Y., April 25, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, has signed two additional contracts to deliver Basic Engineering and Design Packages (BEDP) for projects in Europe and the U.S. with a combined capacity of up to 350 megawatts (MW) of electrolyzers. These agreements enhance Plug’s overall BEDP portfolio, bringing the company’s total amount of global BEDP contracts to 4.5 gigawatts (GW).

Since introducing the BEDP offer just two years ago, Plug’s electrolyzer business has experienced continued growth. Earlier this year, Plug finalized a 500MW contract in Europe, and with the addition of this 350MW contract, the company has now closed 850MW of BEDP contracts in just four months. Plug's ability to scale its electrolyzer business demonstrates its expertise in Proton Exchange Membrane (PEM) technology and liquid hydrogen plants, being the sole electrolyzer OEM supplier constructing green hydrogen plants. Plug has commissioned the largest 15TPD electrolytic liquid hydrogen production plant and the largest PEM electrolyzer deployment in the U.S.

"Drawing from over 50 years of experience in our electrolyzer business, our industry expertise stands unrivaled," said Plug CEO Andy Marsh. "Within just three years, we've significantly scaled our business and have successfully shipped and deployed electrolyzers across five continents. This rapid expansion is strong evidence of our engineering, manufacturing, and execution capabilities."

"Electrolyzer sales present a substantial business opportunity for us," said Plug General Manager of Energy Solutions and Chief Strategy Officer Sanjay Shrestha. "Our impressive BEDP growth in just two years underscores our strong industry positioning and market growth."

Capitalizing on its state-of-the-art PEM stack manufacturing facility in Rochester and a global system manufacturing network spanning four continents, Plug is currently delivering and installing electrolyzers in Europe, Middle East, the U.S., India, New Zealand, Korea, Japan, Australia, and Africa. In each region, Plug factors in specific compliance and regulatory requirements.

To date, Plug has already delivered 25 electrolyzer systems to third-party customers. Over the course of 2024, it plans to deliver an additional 40 systems for a cumulated total of 189MW. These systems include containerized electrolyzers of 1MW and 5MW deployed worldwide for various applications such as refineries, industrial processes, and mobility.

On top of that, Plug continues to advance on large scale projects, with the execution of a 100MW electrolyzer supply contract for a European refinery, securing over 1.2GW of projects awarded subject to Final Investment Decision (FID), and progressing with the execution of the remaining 4.5GW of BEDP signed to date.

Currently, 50MW of Plug’s electrolyzers have been put into operations, and by the end of this year, Plug is expected be the largest provider of PEM technology operating in the world.

Plug’s electrolyzer technology delivers high purity hydrogen at an operating pressure of 40bar. The integrated approach for the 1MW and 5MW systems yield rapid installation and commissioning, while maximizing value and reducing risk.

https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Signs-Additional-BEDP-Contracts-for-a-Total-of-4.5GW-of-Electrolyzers-Across-Europe-and-the-United-States/default.aspx

Yet Another Hydrogen Scam :

Inside A $46 Million Renewable Energy Swindle - YouTube

According to a new report from the National Petroleum Council (NPC), the hydrogen industry won’t generate enough supply and demand for the emerging low-to-zero carbon fuel to help the U.S. achieve net-zero emissions by 2050 under current federal policies..

The council makes recommendations to the Energy secretary on oil and natural gas issues. NPC’s hydrogen report was released Tuesday along with another report from the council focused on reducing U.S. natural gas supply chain emissions.

DOE advisory panel offers ‘sobering’ view on hydrogen
A Department of Energy advisory committee said Tuesday that the nascent “clean” hydrogen industry is not growing fast enough to meet U.S. climate goals, a conclusion that Energy Secretary Jennifer Granholm called “sobering.”

Growing Short Interest !

Never a good sign. 185 million shares SHORT ! 30+% of Open Interest.

I wonder if the Daily ATM is adding to this?

was that news out just so they could stir demand to drop more shares? I hate to wish bad on anyone, but if there is such a thing as Karma, Andy and Paul have it coming in spades!

This is a song that goes out to Andy Marsh that truly fits!

Nothing Burger.

Repost from NKLA board (related to my previous post), courtesy of TheKRA.

From Nikol's X page

We attended the grand opening of FirstElement Fuel's hydrogen refueling station, strategically located near the Port of Oakland! The Oakland station’s fast-fill lane is a prime example of the synergies between Nikola’s advanced truck technology as well as FEF’s station capabilities. Learn more about this partnership:

https://nikolamotor.com/nikola-and-firstelement-fuel-forge-10-year-strategic-partnership-to-advance-hydrogen-fueling-infrastructure

We attended the grand opening of FirstElement Fuel's hydrogen refueling station, strategically located near the Port of Oakland! The Oakland station’s fast-fill lane is a prime example of the synergies between Nikola’s advanced truck technology as well as FEF’s station… pic.twitter.com/Kszfic0JMx— Nikola Corporation (@nikolamotor) April 24, 2024

B_B - Every PLUG Rally Fades Within Days !

Don't you just love Wednesdays ?

WTM - These sound very expensive.

10,000+ PSI !

Interesting to read that they can compress liquid hydrogen.

As a follow up to my previous posts, for context, current Nikola FCEV trucks have a hydrogen fuel tank capacity of 70 kg, and range of 500 miles. Thus, if the hydrogen refueling station has a refueling rate capacity of 100 kg H2 in 10 minutes, a next generation Nikola FCEV truck with a larger tank capacity of 100kg, could travel 715 miles and refuel in 10 minutes (conservatively assuming no advancements in fuel cell efficiency).

FirstElement Fuel, World-Leader in Hydrogen Refueling Solutions, Selected as a Top 40 US GreenTech Company by Time Magazine
Apr 22, 2024
https://www.prnewswire.com/news-releases/firstelement-fuel-world-leader-in-hydrogen-refueling-solutions-selected-as-a-top-40-us-greentech-company-by-time-magazine-302122746.html

Relevant excerpt:

FEF's many accomplishments and contributions to the hydrogen refueling space include the design and deployment of the world's first high-capacity HRS capable of refueling 4 vehicles simultaneously; best-in-class performance and availability of HRS; and next month the company will open the world's largest heavy-duty truck HRS with the capability of refueling heavy-duty, medium-duty, and light-duty vehicle classes. The HRS is part of a public and private partnership titled NorCAL ZERO, which was jointly funded by the California Energy Commission (CEC) and the California Air Resources Board (CARB) and is being managed by the Center for Transportation and the Environment (CTE). FEF designed the station with a unique architecture, making it the first station in the world capable of conducting 700 bar, simultaneous, fast fills (i.e., delivering 80 kilograms of hydrogen in under 10 minutes) on up to 200 trucks per day.

Compressor drives for hydrogen filling stations: scalable, robust and compact
Manuela Kessler
22.04.2024
https://www.boschrexroth.com/de/de/unternehmen/presse/produktportfolio-wasserstoff-25088.html

Servo-hydraulic drives for hydrogen compressors and cryogenic pumps increase efficiency and shorten tank cycles

Together with partner companies from the hydrogen economy, Bosch Rexroth has developed a scalable portfolio of servo-hydraulic compressor drives in the power range between 10 and 280 kW. (Image source: Bosch Rexroth AG)
Within the next six years, several thousand hydrogen filling stations are to go into operation worldwide, thus making an important contribution to the decarbonization of the mobility sector. To this end, Bosch Rexroth has developed a scalable portfolio of servo-hydraulic compressor drives in the power range between 10 and 280 kW together with partner companies from the hydrogen economy. A new cryogenic pump, for example, compresses liquid hydrogen directly to 875 bar, enabling the direct refueling of heavy-duty commercial vehicles within a few minutes.

Long service life and start-stop operation, high efficiency with low hydrogen losses and low operating costs: OEMs and operators are looking for solutions that can be implemented quickly and economically for the cost-effective operation of hydrogen filling stations. Based on its decades of experience in electrohydraulics, Bosch Rexroth has developed tailor-made solutions for a cost-effective hydrogen infrastructure together with partner companies.

To achieve this, the company relies on servo-hydraulic drive technology with a continuously adjustable hydrostatic transmission. The robust hydraulics achieve a long service life. Long-stroke, ATEX-certified compressor drive cylinders increase conveying rates through end-position-optimized control. The portfolio covers the power range between 10 and 280 kW and various applications.

New cryogenic pump: 100 kg of hydrogen can be filled up in 10 minutes

Bosch Rexroth is developing the new electrohydraulically driven cryogenic pump in partnership with FirstElement Fuel, the market leader for the commercial operation of hydrogen filling stations in the United States. With a connected load of 280 kW, it compresses liquid hydrogen to 875 bar for the direct refuelling of heavy trucks. The aim is to refuel the vehicles with 100 kg of hydrogen within 10 minutes. Direct refuelling eliminates the need for intermediate storage at petrol stations. The first filling stations will be equipped from 2025.

Bosch Rexroth also offers variants developed in collaboration with partner companies for medium and lower outputs. The 75 kW CytroCore compressor drive can be used for the compression of both liquid and gaseous hydrogen. In the lower power range of 10 kW, a ready-to-connect self-sufficient axle, CytroForce, drives the compressor cylinders. No specific hydraulics know-how is required for either solution.

Standard modules in hardware and software can be finely scaled

For optimum energy efficiency, Bosch Rexroth relies on the so-called positive displacement control. In contrast to throttle control, which is used in most industrial hydraulic systems, position and force control is implemented by means of servo-hydraulic pump control. This control concept reduces energy consumption by approx. 75%. In addition, the compressor drives require less than one square meter of floor space and are much quieter than conventional drive systems. After the one-time parameterization, they are immediately ready for use. They communicate with the control system of the hydrogen filling station via open interfaces. All modules continuously record operating data and thus create the conditions for systematic condition monitoring and predictive maintenance for maximum availability with the digital service CytroConnect.

Bosch Rexroth can configure the standard drives in its portfolio in hardware and software to suit specific applications, thus meeting the requirements of users precisely. The compressor drives simplify the system architecture and operability of hydrogen filling stations and are suitable for both established companies in the hydrogen economy and newcomers.

Plug (liquid) hydrogen production in Q1’24:
- January
negligible
- February
about 10 TPD
- March
more than 20 TPD

The company’s Georgia hydrogen plant, home to the largest Proton Exchange Membrane (PEM) electrolyzer system in the U.S., has been running at a stable rate of 15 tons per day (TPD) since the beginning of the month.

Plug Continues to Make Substantial Advancement in Hydrogen Generation Buildout
April 23, 2024
https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Continues-to-Make-Substantial-Advancement-in-Hydrogen-Generation-Buildout/default.aspx

We've produced 11 tons of the 15 out of Georgia.
Tennessee is almost back to full production at 10 -- 10, 11 tons per day.
I expect by mid-second quarter, we'll be putting out all 15 tons out of Georgia.

Plug Power (PLUG) Q4 2023 Earnings Call Transcript Mar 1, 2024
https://www.fool.com/earnings/call-transcripts/2024/03/01/plug-power-plug-q4-2023-earnings-call-transcript/

February 06, 2024
Plug Power Starts Production of Liquid Hydrogen at its Existing Tennessee Plant
February 01, 2024
Plug Power Completes First Customer Fill of Liquid Green Hydrogen at its Georgia Plant

https://www.ir.plugpower.com/Press-Releases/default.aspx

Inventory impairment in 2023 (decreased inventory value)
I think it’s easier to sell the old (devalued) inventory for a profit in 2024.
The demand for proven hydrogen equipment is growing, not fading.

Deleated

That is good to hear. And by the end of the year they will cover 100% of their needs ( supposedly )

I.have been wondering for a long time how much they were buying from suppliers and what % they would be able to produce.

Of course now with the new supply , the price of hydrogen will probably go below their cost of production. Why would any of Plug's former suppliers bring on more capacity knowing that Plug would stop buying from them and they would lose the largest user of hydrogen as a customer.

Toofuzzy

Steve

As per the PR, the two plants with 25 tpd cover 50% of Plug’s requirement of green hydrogen.

I am doubtful we have enough to cover the current business interest and what the price differential is to what we buy it at. I suspect the supplier prices will come down as more supply hits the market depending on the addressable market.

Steve - Not all of my questions are answered.

We still don't know any of the economics or financials surrounding the plants.

Are we making enough to cover new growth ?

I guess that answers your question from the other day as to what they were producing. I say about dam time, and we should be at what 200 tpd by now? Glad we are at least heading in the right direction. Maybe, the learning curve is over, and they can now be more realistic.

Wonderful news:

https://seekingalpha.com/news/4092367-plug-power-touts-substantial-advancement-in-hydrogen-generation-buildout?source=copy_to_clipboard

TF - The only reason I would buy PLUG shares is to cover a short position.

Currently, the trend for PLUG is a Strong Negative, and I don't see this trend reversing.

The positive catalysts, the DOE Loan and 45v credits will bump up the price, but aren't enough to reverse the trend or counter the terrible Quarterly financials.

Remember, every PLUG Rally fades within days.

Has Plug expanded its management team in recent days?

https://www.ir.plugpower.com/governance-/management-team/default.aspx


ALAN SHARKEY
April 17, 2024
https://www.plugpower.com/dvteam/alan-sharkey/




RICK MASON
April 19, 2024
https://www.plugpower.com/dvteam/rick-mason/




PAUL SULLIVAN
April 22, 2024
https://www.plugpower.com/dvteam/paul-sullivan/

Jack

Are you selling or buying ?

Toofuzzy

Don't worry. They will be given way more new stock options at a much lower price that Plug might actually exceed.

Much better to buy puts. Your risk is defined up front.

Toofuzzy

I wonder what % of hydrogen that they sell do they produce

Toofuzzy

I have a problem with that paper / article.

He says the processing of electricity from alterative energy to the output of hydrogen is less than 50% efficient.

But he says oil has an output greater than 1. But that ignors transporting crude out of the ground, to a refinery, the energy used and cost of the refinery, transporting to a power plant, and the difference in efficiency of burning oil ( or gas ) vs using a fuel cell.

I agree their are some differences in efficiency depending on use. Fuel cell cars are much better than a gas engine ( even one burning hydrogen ) and less or no improvement in a power plant but you can't totally ignore the cost of getting oil or gas from the ground to the power plant.

Toofuzzy

CEF - Q-1 revenues ought to be in the $120-$150 million range based on PLUG history and growth.
If gross revenues are below $120, I have some worries.

The $500 million in impairments includes shutting down facilities, severance and other RIF costs, inventory carry costs and losses.

These are just my estimates, and I would be interested in anyone else's thoughts.

how do you get $150mil and $500mil of impairments

I wonder if we are involved in any of these? https://www.energy.gov/articles/biden-harris-administration-announces-first-projects-receiving-clean-energy-manufacturing

Sorry, but if their plan was to destroy themselves and implode the company and short, them, I guess you are right. Otherwise, I guess you are trying to be funny or sarcastic. If not, then you are delusional.

"I love it when a plan comes together"

- The major indices are starting to recover
- Plug short interest is increasing
- Plug trading volume is decreasing
- Positive press releases are coming

Fasten your seatbelt and enjoy the flight 😎

Only 2 weeks until Q1 earnings.

Could be, mayb lower

MORE BAD NEWS :

Q1 revenue will probably come in around $150mill....

Paul pretty much indicated this in the seasonality comment.....

We should expect some impairment charges of close to $500mill related to inventory and property plant and equipment...

Cash burn is running around $250mill for the Q....

Expect the share price to find its way to $1.50 after earnings, if not before.

I think the continued increase in Short Interest (30%) has been a key indicator of this Negative Trend in PLUG's share price.

Until there is a Major Positive Catalyst, this Negative Trend will continue.

There is NO BOTTOM.

Haven't posted in a while. Big Spender bought back into PLUG in October, 100 shares for $7.77.
Andy Marsh is running PLUG into the ground with Marsh-onomics.

Posted 7 hrs ago.

Steve - Before every opportunity, I feed multiple analysts with tough questions to ask PLUG's leadership. Remember when one asked about the FFI JV ? Ole leaving ?

The problem Steve, is that PLUG only wants softball questions. No questions about key metrics or deals that have faded away ...

If an analysts has the gall to ask a tough or negative question do they get to participate in the future?

I strongly suspect that the GA plant is not fully operational and may not even producing H-2. Yes the plant is Open, will someone ask what the average TPD is?

I have to agree you never get bad news from PLUG unless an analyst asks a direct question. If you know one maybe you can get him or her to ask some tough questions.

Steve - SCMF lives in SC, not far from the plant in GA. His last visit was on a weekend, which might explain to lack of activity.

The Foodie company on the same dead end street says there is very little activity on the road, which leads me to believe that the plant is still not fully operational.... or worse. With only 3 businesses on the road, they can see every vehicle that enters or leaves at least during business hours.

A status update from the PLUG would be helpful, but if the news is negative, we will never be informed.

My concern is that operations are still limited or suspended.

SCMets on Yahoo has driven by a few times. I would go but it would take me all day to get there and back. He has never walked inside to ask what was going on, but just drove by I think.

Steve, et al, - Does anyone know anyone close to the shiny, new Hydrogen plant in Georgia, who can swing by and see if it is operational?

I hear that it is still not fully operational. I'm worried that it isn't even running.

Someone needs to swing by and give us an independent status report.

Well, if they had done thing right as you say we would be profitable by now instead of near financial collapse or a reverse split. You also realize all the misses on revenues quarter after quarter, the accounting issues and fine, the promise to be BE that never happened, the statement we don't need money and then dilution a few times. Lies, distortion, mismanagement and screw ups like the Ga. plant 3 openings. There's just too much to give these clowns a pass. Andy and Paul should fall on a knife if they were honorable men and resign.

Plug Doing Real Things: Kristinestad, Finland
April 16, 2024
https://www.plugpower.com/plug-doing-real-things-kristinestad-finland/