In its business update Plug Power said it could be seeing $3bn revenues by 2025 with a 20% margin. It expects to be producing 70 tons of green hydrogen a day by the end of the year and scaling up to 500 tons a day by 2025. Market sentiment seemed to be either that it did not believe the company could deliver those numbers or investors thought they were not being positive enough? Even so, now the thinking is turning to the green energy possibilities of fuel cells. The stock price of hydrogen and fuel cell maker Plug Power looks to be finally making some headway for the first time in 2002 as it has risen 48% since its low at the end of January to $25.9 today (21 March).Īs the price of traditional hydrocarbon fuels has rocketed so attention has turned to the potential of alternative sources of energy particularly for transport.įuel cells may not carry the cachet of battery electric vehicles like a Tesla because they are favoured by larger vehicles such as trucks and buses. But Plug's CEO Andy Marsh recently suggested the sanctions against Russia for invading Ukraine are highlighting the "need to move away from the Russian gas station" has become a "national security issue".Įven before the war Plug Power laid out bullish plans for the company including a revenue goal in excess of $900m. Powering ahead: Will hydrogen fuel-cell supplier Plug Power recover its stock momentum? – Photo: Shutterstock
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