The deal with Amazon – which basically acquired a stake in Plug Power (Nasdaq: PLUG) through warrants and, at the same time, placed orders to have its forklift trucks retrofitted – may be the reason why Walmart has agreed to a change in the terms for its large Plug booking, which will improve the situation for the latter. Walmart was the first big Plug customer to request forklift conversions and an H2 refueling infrastructure at its logistics centers.
On April 27, 2017, FuelCell Energy (NASDAQ: FCEL) took everyone by surprise when it announced that it intended to raise USD 15.4 million in capital through an underwritten public offering. The net proceeds amounted to USD 13.8 million at USD 1.28 per share, meaning 15 per cent above current stock quotes. At the same time, it issued one-year warrants priced at USD 1.28 per share, exercisable at any time, and five-year ones at USD 1.60 per share, including the same option (convertible into shares).
The final decision on which company will be awarded the contract for the 63 MW Beacon Falls project should have already been made by the end of July 2016, but has since been moved to Sept. 5 and then to Oct. 26. The delays seem to be the result of additional bids that include wind and solar energy. In my opinion, the fuel cell plant offers significant benefits
It may well be the case that Plug Power has itself triggered the fall in the price of its shares that occurred in recent weeks, as described in detail and substantiated by a report (Seeking Alpha dating from 2.9.2015). In detail: 1. The takeover of HyPulsion, the European joint venture with Air Liquide for US-$ 11.5 m. was settled in shares (6.4 m. units due to the fall in the share price instead of the originally planned 4.8 m. shares), whereby it had already been made clear that the Air Liquide subsidiary, Axane SA, would register these shares and sell them on the stock exchange. Plug would have been better off paying the US-$ 11.5 m.