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Plug Power now also active for drones

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October 13, 2019

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Plug Power now also active for drones

Plug Power has now acquired the Canadian company EnergyOr, which claims to have a leading technology in hydrogen powered drones and robotic systems.
Screenshot BZvision, © www.wikifolio.com

Plug Power has now acquired the Canadian company EnergyOr, which claims to have a leading technology in hydrogen powered drones and robotic systems.

Since Plug is already working closely with Amazon (conversion of forklift trucks with FC stacks for H2 operation) this can be an interesting new complementary market for Plug, as Amazon is currently working on delivering goods via drones (Note: Ballard Power is already very well positioned here via Protonex, today: Ballard Unmanned Services). In any case, a huge market of the future, which clearly gives hydrogen and fuel cell technology priority over battery technology (weight, service life).

In just a few years, worldwide sales of drone systems are expected to reach 52 billion US dollars. This raises the question of whether and, if so, when Amazon will also become a Plug shareholder, since Plug has given up an option right to buy its shares.

Plug is meanwhile on a right track: Sales increased to US$ 58.6 million (previous year: US$ 58.6 million): US$ 39.2). A loss of US-$ 0.08 per share was reported. The billings are expected to amount to US$ 235 to 245 million this year. Plug has now delivered a total of 28,000 systems and can call itself the largest buyer of liquid hydrogen. An impressive 200 million hours were driven by forklifts with fuel cells. The first of four major announcements are that DHL’s Plug StreetScooter will be equipped with fuel cells, increasing the radius of its vehicles to 500 km. 200 specimens are considered to be the basis for 2020. Another three important positive announcements are to be made in the further course of the year. It is also said that the company is well on the way to breaking even. So you can be curious.

Risk warning

Every investor must always be aware of his own risk assessment when investing in shares and also consider a sensible risk diversification. The FC companies and shares mentioned here are small and mid-caps, i.e. they are not standard stocks and their volatility is also much higher. This report is not a buy recommendation – without obligation. All information is based on publicly available sources and, as far as assessment is concerned, represents exclusively the personal opinion of the author, who focuses on a medium- and long-term valuation and not on a short-term profit. The author may be in possession of the shares presented here.

Author: Sven Jösting, written mid of August 2019

Kategorien: worldwide

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