Plug Power Inc (PLUG) Options

Give me a reason to be bullish. The stock is down 44% from its 52 week high. Down 75.5% from its high 5 years ago. It's just now clawed back to where it was in April, July and August.

Is the whole investing world wrong? Seems like too many people flipping for beer and pizza money
Why are you bearish on PLUG?

Hydrogen Truck Breaks World Record & The #1 Driver Of Hydrogen Success In 2025

The Hydrogen Podcast
Posted 10 days ago

KAM, I knew that and so everyone else on this board, so need for me or you to point it out. The relevance to Plug Power, is that if hydrogen trucks succeed in replacing diesel trucks, it creates a market for Plug Power's hydrogen production branch of the company.

You still did not answer the questions from my previous post. What prompted you to start posting on the PLUG board? Why are you bearish on PLUG?

It wasn't a PLUG system that smashed the record. The one used was launched in 2023...not decades ago. Seems PLUG is being left in the dust.

Cummins Accelera
https://investor.cummins.com/news/detail/653/accelera-launches-next-gen-hydrogen-and-electric-solutions

UBS Global Energy & Utilities Conference
From January 13, 2025 9:00 AM ET to January 15, 2025 4:00 PM ET
Park City, Utah
Andy Marsh, CEO | Kevin O’Brien, Manager Investor Relations
https://www.ir.plugpower.com/events-and-presentations/events/event-details/2025/UBS-Global-Energy--Utilities-Conference/default.aspx

Jb correct... but both of us know with management changes company could become competition.

WTM - A One-Off.

" Your actual mileage may vary ... ".

Hydrogen-powered rescue truck just smashed a world record, and it only spits out water
Breaking records with zero emissions
Published January 12, 2025
https://www.foxnews.com/tech/hydrogen-powered-rescue-truck-just-smashed-world-record-only-spits-out-water

KAM, welcome to the PLUG board. Financial reports are not my strength (1st link in your post), I followed your instructions for the second link, nothing came up. Can you please just tell us what your point is? Apparently your are currently bearish on PLUG, can you please elaborate as to why? Thank you in advance.

mik - PLUG is a Two Dollar ($2.00) STOCK.

mik - LINDE is a Four Hundred Dollar ($400.00) STOCK.

Has anyone done an autopsy on PLUG's financials?

https://www.sec.gov/ix?doc=/Archives/edgar/data/1093691/000155837024015312/plug-20240930x10q.htm

Hit CTRL-F and search for "convertible notes"

Search all of PLUG's SEC filings here: https://www.sec.gov/edgar/browse/?CIK=1093691&owner=exclude

MOTLEY FOOL--$PLUG "1 Stock to Avoid in 2025"
https://www.barchart.com/story/news/30324368/1-stock-to-avoid-in-2025

Why Plug Power Stock Plunged 52.7% in 2024
Motley Fool - Thu Jan 9, 1:48PM CST
https://www.barchart.com/story/news/30374367/why-plug-power-stock-plunged-527-in-2024

LINDE HAS TIES TO RUSSIA WHICH MAKES THEM VULNERABLE IN MY VIEW

After 25 Years .... PLUG is still a $2.00 stock.

Treasury Finalizes Rules for Clean Hydrogen Production Tax Credit (Section 45V)
January 10, 2025
https://www.foleyhoag.com/news-and-insights/publications/alerts-and-updates/2025/january/treasury-finalizes-rules-for-clean-hydrogen-production-tax-credit-(section-45v)/

Easy double from here

PLUG.............................https://stockcharts.com/h-sc/ui?s=PLUG&p=W&b=5&g=0&id=p86431144783

Banger - C'mon. LINDE is Best in Breed !

Linde is UP 283 % over 10 years ! PLUG ?

LINDE doesn't need DOE Dough to build of finish projects. Linde self finances. PLUG ?

LINDE is profitable , pays a dividend, and has a proven/successful Business Model. PLUG ?
_________________________________________________________________________

Is ANY PLUG Business line PROFITABLE ? Does any Plug Product or Service make money ?

After 25 Years, has Plug made a Penny ?

I think they haved a Fatally Flawed Business Model.

it is a strong buy based on the timelines he set out in the article for the TA.

The DOE is within hours of being announced (check out the doe page to ping) as expected when the loan terms were finalized. (with an extra day for Jimmy Carters funeral). If you aren't trading this for short term wealth I would be surprised.

I am waiting for their annual update to asses any longer term consideration - the current state of the cash flow is important - if Luisiana is producing January for example they have no need for third party H2 supply (except for cost of transporting it to sites in. the mid west.).
The electrolyzer business is where the unknowns lie. Did they ship and book as revenue all the systems highlighted back in April/May?
What is the phasing of electrolyzers this year a number of projects are being installed across Europe and how about Korea?
Have Ford restarted Blue Oval city or whatever it is called (I read it was paused).
These are what we need to know before assessing any longer term issues.

I expect some capital to be needed and I think analysts do as well is that reflected in the current absurdly low price - I think so.

PLUG has been a far better investment over the last 3-4 months than Linde and APD and probably will be for next 3 months

Banger - A "Strong BUY " ?

The DOE Dough better show up, otherwise PLUG is a $1.00 stock.

Wait until you see the Quarterly Earnings ...

Wait until you see the Next Toxic Financing ....

Do you know why PLUG is still a $2.00 stock after 25 Years ?

Not really a puff piece it was as promised an anlysis of the stock (technical analysis) and the company (fundamentals)

Here is the conclusion, if by "comments" you mean the individuals comments on the article then that is where puff/bull / bear comes into play and should be treated with extreme caution. (oh and one of them is from you )

Conclusion

In the above analysis, I determined that the technicals are still overall bullish for Plug Power stock, as the chart and moving averages show a net positive technical outlook. While there were some mixed indications in the indicators, they do provide longer-term confirmation that shows there is strength in the stock. For the fundamentals, as discussed above, while current results are still mixed, they do represent improvement over past quarters, and so I believe the stock is undervalued when evaluating the P/S and P/B ratios. Plug Power deserves more credit for the turnaround in their results. Therefore, since the technicals and valuation are aligned in a bullish outlook, I initiate Plug Power at a strong buy rating.

MORE BAD NEWS !

" North America’s only publicly traded pure-play green hydrogen company, announces a temporary service reduction at its Wolf River Hydro LP (“Wolf River”) hydropower plant following an equipment failure."

Hydrogen is Dangerous !

WTM - What a Nice PUFF PIECE !

I hope everyone reads the comments at the end of this article.

https://seekingalpha.com/article/4748880-plug-power-buy-the-pullback-technical-analysis

WTM - Thank you for passing this along.

Let's have a great weekend and a great trading next week!

Here you go. Yoe asked for this.
https://stocktwits.com/King_of_The_mountains/message/598520248

March 2020 to February 2021

Plug Power Appears on Verge of Closing Critical DOE Loan, a Lifeline for the Cash-Strapped Hydrogen Company, Based on DOE Website Change
Jan 10, 2025, 3:24 pm
https://hntrbrk.com/plug-power-2/

Plug Power Inc. appears to be on the brink of receiving a loan guarantee from the Department of Energy, according to a DOE Loan Programs Office (LPO) page tracked by Hunterbrook Media. When the loan was conditionally approved in May, the DOE said it would be for $1.66 billion.

On Friday, the page under a URL that includes Plug’s company name turned from “Page not found” to “Access denied” — indicating that it now exists on the website, but is not public.

The page’s error message also changed, from “The requested page could not be found” to “You are not authorized to access this page.”

This is a pattern that in the past has signaled a loan approval was about to be announced. A project page for Eos Energy Enterprises’ (NASDAQ: $EOSE) $305 million DOE loan guarantee was first indexed on the Internet Archive on December 1 — showing an “Access denied” message. The finalized loan was announced on that same page two days later, on December 3.

Hunterbrook has been pinging the DOE page “https://www.energy.gov/lpo/plug-power” every 15 minutes for more than five weeks. (That’s more than 3,300 pings!)

Hunterbrook has also been pinging similar web pages for eight other companies. This is the first time we have caught a page flipping from “Page not found” to “Access denied.”

At this time, it is unclear whether Plug’s loan will be for the full $1.66 billion originally promised — or if it has changed in some way since being conditionally approved. Asked for comment on the significance of the website update, the DOE did not immediately reply.

Hunterbrook found a series of red flags regarding Plug’s “green” hydrogen projects

Plug is racing to finish the DOE loan approval process before Inauguration Day, fearing the Trump administration may cancel the conditional loan. The loan would be a critical lifeline for the company, which has faced dwindling cash and declining margins: A Hunterbrook analysis of Plug’s public financial documents in December revealed limited resources due to ongoing operating losses and significant investments in working capital and expansion.

A separate Hunterbrook investigation also found potential major roadblocks to getting the loan approved: Plug may not be able to secure enough water for planned hydrogen plants and may not have a credible plan for paying the loan back.

A review of documents and permits showed that Plug’s plant in Georgia uses at least seven times more water than the company publicly claimed. While Plug’s website says that the facility would use a maximum of 74,300 gallons of water per day, the company already has access to 587,520 gallons daily and stated in a groundwater withdrawal application that it will need up to a million gallons daily to operate the plant. Overall, Plug is aiming to secure a total of up to 1.7 million gallons per day for the Georgia facility.

This threatens Plug’s planned expansion in Texas because the company only secured 500,000 gallons of water per day for hydrogen production at its new plant outside Dallas-Forth Worth, where it aims to produce three times more liquid hydrogen than it does in Georgia. The planned facility in Texas is part of Plug’s loan application, and adequate access to inputs like water is one of the DOE’s criteria for approving project loans.

The DOE in December published a Draft Environmental Assessment for Plug’s Texas project that found that it does not have a significant effect on the human environment and does not require an environmental impact statement, a document that outlines the impact of a proposed project on its surroundings.

The DOE sprints to close loans before the next administration

Since the presidential election, the LPO has been rapidly finalizing loans before the new administration takes office.

In just the past two months, it has announced the finalization of loans to companies ranging from battery manufacturer BlueOval to solar manufacturer Qcells.

The office has also received scrutiny, including via an Inspector General’s report that found inadequate protections from conflicts of interest. The DOE rejected the findings, calling them “both baseless and vastly disproportionate.”

Notably, the Inspector General claimed that the LPO had not only “already closed 15 loans and loan guarantees for over $15 billion since 2021,” but was “currently planning to close an additional $22 billion in loans and loan guarantees for an additional 13 projects before January 20, 2025.”

Included among these, presumably, is Plug Power, which is one of just over a couple dozen recipients of conditional loans.

Plug has repeatedly expressed confidence that it would close the loan before the next administration takes office. In a November research note, an analyst from Jefferies stated that management had “expressed their confidence in closing the DoE loan on or before Jan 20th.”

In an investor call in November, Plug CEO Andy Marsh said: “I think when you look at the DOE loan, we have a clear path with the DOE to close that out before changing administration.”
He told Politico: “There’s nothing like seeing your own coffin to get you moving faster.”

Liquid green hydrogen to fuel up to 9,500 lift trucks across Walmart distribution and fulfillment centers, supporting the retailer’s goal of a zero emissions future by 2040 $WMT $PLUG
https://www.ir.plugpower.com/press-releases/news-details/2022/Plug-Supplies-Walmart-with-Green-Hydrogen-to-Fuel-Retailers-Fleet-of-Material-Handling-Lift-Trucks/default.aspx

meh

U.S. Department of the Treasury Releases Proposed Rules for Qualified Commercial Clean Vehicles
January 10, 2025
https://home.treasury.gov/news/press-releases/jy2776

WTM - Thank you. Every time Andy speaks the share price tanks.

Please repost this news / Andy's comments as much as possible.

MORE DEBT ... MORE DILUTION !

IF Plug does get the DOE loan, there will be a bump in the Share Price.

What a great time to do yet another Secondary !

INTERVIEW - Plug's CEO confident about loan deal and future under Trump
Jan 10, 2025
https://renewablesnow.com/news/interview-plugs-ceo-confident-about-loan-deal-and-future-under-trump-1269142/

Andy Marsh, CEO of Plug Power Inc (NASDAQ:PLUG), is very optimistic about the company’s prospects of finalising its long-awaited loan guarantee deal with the US Department of Energy (DOE) but, in the meantime, Plug is also looking to bring in an equity investor to support the work on its next green hydrogen plant, Marsh told Renewables Now.

THE DOE LOAN

In mid-May 2024, the company got a conditional commitment from the DOE for an up-to-USD-1.66-billion (EUR 1.61bn) loan guarantee that is crucial for its ability to build as many as six additional green hydrogen production facilities at scale.

According to Marsh, there is a “high probability” that the company closes out the loan agreement before the change in the administration.

“We're just really dotting the I’s and crossing the T’s on the legal documentation so that we can finalise it sometime in the next couple of weeks,” Marsh said in an interview. “At around 5.5%, the DOE loan will dramatically reduce the cost of capital, which makes the return on the investment much quicker.”

He added that regardless of whether the deal is closed, the company has equity investors keen on participating in its expansion plans. “We will probably bring an equity investor in even after the DOE loan is finalised,” he noted.

THE 45V FINAL RULES

On the topic of the recently-released final rules for the section 45V Clean Hydrogen Production Tax Credit, Marsh stated that they are “much, much better than they were” and specifically underscored some of the changes such as those associated with nuclear power and renewable energy credits, as well as the extension of the transition period for the time-matching requirement.

“I do think, though, that there are real opportunities to engage with the Trump administration. We think the three pillars across the board are not part of the legislative intent, and we think the Trump administration may be much more interested in reducing those regulations than we've seen under the Biden administration. We're really pleased with the progress, but we think that still there's areas for improvement,” Marsh commented.

At the same time, the CEO is not that worried about the possibility of the incoming administration backpedalling on clean energy commitments.

“If you think about it, 80% of the IRA projects are going on in red congressional districts today and so much of our projects and our supply chain is in areas which benefit Republican Congress. Hydrogen quite honestly is going to be vital for the long-term energy independence of the US and not only is it a good market for our own energy security, but it is also a good market potentially, especially with derivatives like green ammonia, for exporting. So I think what we do aligns with the Republican goals, and if you go back to 2018, there was major legislation to support tax credits for hydrogen fuel cells which actually happened under a Republican Congress and a Republican president,” Marsh explained.

PROJECTS ADVANCEMENT

Plug’s head is also confident that with the final rules in place, there will be an acceleration in the announcements of final investment decisions for green hydrogen projects, which should result in the placement of firm orders for electrolysers. Plug itself expects to step up the construction of Project Limestone in Texas once the DOE loan is concluded. It is the first of the six plants the company intends to build using the money.

Marsh believes that building the facility in Texas would allow the company to rely solely on its own hydrogen production to serve existing customers. Whether the company would invest in the construction of more plants beyond those six would depend on the growth of the hydrogen economy, he pointed out.

“I think 2024 was a year for us to really make sure we strengthen our financials and I think that's one of the reasons you're seeing the stock price improved. I do expect that we will continue to be looking at investment opportunities in 2025, but I think a lot of those investment opportunities will be done in partnerships with some really viable companies,” he concluded.

At this point in his tenure at the DOE, why would Jigar Shah risk being prosecuted for fraud by the new Trump administration for granting Plug Power a loan guarantee? The current Inspector General of the DOE warned recently of such a possibility, citing Shah's past financial ties to Plug Power amounting to over $100 million

Thanks for those links. The ones that are not from Plug Power's website are repeating what Plug Power posted, that the company was going to book the PTC. But Plug has never been transparent about which renewables are represented by the RECs they hold. So no one can tell when these renewables were installed and where they are located. Given Marsh's willingness to bend, stretch and circumnavigate the truth, I don't trust anything he says .

US loosens hydrogen tax credit rules: nuclear, methane and delayed deadline https://www.power-technology.com/news/us-loosens-hydrogen-tax-credit-rules-nuclear-methane-and-delayed-deadline/ $PLUG

Germany to Complete First 525 Kilometers of National Hydrogen Pipeline in 2025 https://fuelcellsworks.com/2025/01/06/green-investment/germany-to-complete-first-525-kilometers-of-national-hydrogen-pipeline-in-2025

Energizing the Future: How Green Hydrogen is Shaping Sustainable Investments https://investingnews.com/energizing-the-future-how-green-hydrogen-is-shaping-sustainable-investments/ $PLUG

New study examines green hydrogen fuel production in Washington https://ecology.wa.gov/blog/january-2025/new-study-examines-green-hydrogen-fuel-production-in-washington $PLUG

US hydrogen tax rules offer flexibility to electrolytic hydrogen in energy procurement, certification https://www.spglobal.com/commodity-insights/en/news-research/latest-news/energy-transition/010825-us-hydrogen-tax-rules-offer-flexibility-to-electrolytic-hydrogen-in-energy-procurement-certification $PLUG

Rules of the Road - Final Rules for 45V Tax Credit Could Help Clear a Path for Clean Hydrogen https://rbnenergy.com/rules-of-the-road-final-rules-for-45v-tax-credit-could-help-clear-a-path-for-clean-hydrogen $PLUG

US Hydrogen Guidance Makes Big Difference for Some Projects https://www.energyintel.com/00000194-46e4-da42-aff5-6fe7f8050000 $PLUG

DOE Launches New Funding Opportunity for Small Businesses Focused on Hydrogen and Fuel Cell R&D
https://fuelcellsworks.com/2025/01/08/fuel-cells/doe-launches-new-funding-opportunity-for-small-businesses-focused-on-hydrogen-and-fuel-cell-r-and-d $PLUG

WTM - I think we don't need to worry about STAMP.
The question now is... when the DOE will be released?

However, doesn't look good for STAMP site in upstate NY. See Appendix C, and the letter on last page of the report. Link https://www.energy.gov/sites/default/files/2024-12/Limestone%20EA_draft%20clean%20120424%20.pdf

Couldn’t get one honest days work if you put them all together

Key excerpt, Draft Environmental Assessment, Section 4, Page 41.
Link https://www.energy.gov/sites/default/files/2024-12/Limestone%20EA_draft%20clean%20120424%20.pdf

4. DRAFT FINDING

Based on this EA, DOE has determined that providing a federal loan guarantee to Plug Power to construct and operate a green hydrogen production facility in unincorporated Young County, Texas, will not have a significant effect on the human environment. Preparation of an environmental impact statement is therefore not required. DOE is issuing this Finding of No Significant Impact.

This Finding of No Significant Impact should not be construed as a final decision about issuance of a loan guarantee.

Repost from Stocktwits board, courtesy of B_B_

https://www.energy.gov/lpo/nepa-related-public-involvement

https://www.energy.gov/lpo/ea-2281-draft-environmental-assessment-limestone-green-hydrogen-production-project

https://www.energy.gov/sites/default/files/2024-12/Limestone%20EA_draft%20clean%20120424%20.pdf

OMG!

well at least the Gov is taking your money and providing you with health care that costs more here than anywhere else in the world...and helping to educate the children who are graduating with far less competence in anything than ever before while coddling them and making them so woke they are becoming utterly useless...colleges used to unleash lions into the world...now they are nothing more than dandelions who want to know what the world is going to do for them....

your tax dollars at work...

I feel that way with most of my tax money