Just what Obama needs - another major investment in a "green company" right before it goes down in flames or a Chinese company buys it. Hopefully they are being a little more judicious regarding the investments they are making going forward, but based on past practice, you may be right. Given the cash burn rate for PLUG, the investment by the government would have to be on the order of $25-$50 million to have much of an impact on their ability to survive.
Interesting to do a Google search on Plug Power and Department of Energy and see the hybrid connectivity/impact that PLUG is making on this pioneering level . . . As previously stated, the $2.4 million offering reminds me of someone taking a second mortgage on their house to finance a college education . . . or something like that. GLTA. : )