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Plug Power – In the profit zone with H2 production

Plug Power – In the profit zone with H2 production

by | Apr 23, 2022 | Germany

Project manager Robert Zalinski presented Plugs products at the new Duisburg site

The plans are huge: three sites are to start production already this year. The first target for the current fiscal year is 70 tonnes of hydrogen per day. This should enable a profit margin of 30 percent. Of this, 40 to 50 tonnes per day are needed for existing activities and 20 to 30 t/day will be brought to market as a tradable commodity, is my expectation.  (more…)

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Plug Power expands to Europe

Plug Power expands to Europe

by | Apr 19, 2022 | Germany

Project manager Robert Zalinski presented products and site

Project manager Robert Zalinski presented products and site

The US corporation Plug Power opened its European headquarters in Duisburg, Nordrhein-Westfalen (NRW) on March 18th, 2022. The new production site of Plug Europe lies at the center of Duisburger Hafen, the world’s largest inland port. CEO Andy Marsh had really wanted to make a special trip from the United States to make the opening speech, but he was unable to because of a corona infection. Chris Suriano stepped in for him. Suriano declared, “Our local presence is very important in our key markets.” He smugly added, “We have only just begun.”  (more…)

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New hydrogen and fuel cell partnerships

New hydrogen and fuel cell partnerships

by | Aug 16, 2021 | Germany

Luca de Meo (Renault Group, left) and Andy Marsh (Plug Power), © Renault

© Renault

The time has come for new collaborations in the hydrogen sector. As noted in this year’s May issue, the number of reports about company mergers and new partnerships has increased steadily over the past months. One example of this is the partnership formed by electrolyzer manufacturer Nel after its recent foray into the solar market. In early May, the group announced that one of its subsidiaries, Nel Hydrogen Electrolyser, is now working with First Solar, a manufacturer of PV modules, to design integrated solar-hydrogen power plants.
A short time later, news broke that Danish hydrogen business Everfuel and Norwegian aluminum maker Norsk Hydro signed a memorandum of understanding to improve conditions for electrolyzers in Europe. The agreement contemplates installing the Hydrogen Distribution Centers that are being developed by Everfuel at electrolyzer sites near Norsk Hydro’s aluminum smelters to ensure the fast and safe refueling of the latter company’s hydrogen trailers. (more…)

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Plug Power – cash infusion drives up price

Plug Power – cash infusion drives up price

by | Jul 21, 2021 | Germany

Production facilities of HYVIA, © Renault
Production facilities of HYVIA, © Renault

A few months ago, Plug Power [Nasdaq: PLUG] was forced to revise several of its previously published financial statements. While the accounting errors were not severe enough to have a material impact on the statements, they resulted in a USD 62.9 million decrease in R&D costs in the years 2018 to 2020 and a corresponding rise in cost revenue. Furthermore, non-cash charges, including charges associated with warrants Plug granted to Amazon and Walmart, exceeded USD 400 million. That’s pretty notable. Do these charges have anything to do with Plug’s relatively high amount of short interest, which comes to over 50 million shares? Could Amazon and Walmart have exercised warrants? Or have they now shorted stock to shore up their unrealized gains running into the billions of dollars?

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EQ – New Daimler Brand for Electric Vehicles

EQ – New Daimler Brand for Electric Vehicles

by | Mar 1, 2017 | Germany, worldwide

EQThe Paris Motor Show seemingly went all-out electric: There hadn’t been so many electric vehicles at one single trade show for a long time. From Oct. 1 to 16, 2016, Opel showcased its Ampera-e (500-kilometer or close to 311-mile range; priced at EUR 39,000), the “currently hottest rod from Germany,” as car blogger Fabian Messner put it. Renault showed the Zoe with a large 41 kWh battery. And VW announced a battery storage unit for its e-Golf with an increased capacity. (more…)