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Plug Power Inc. (PLUG)
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Unfortunately, today was a very busy day for me, and I did not have the opportunity to keep up with market events. I just now finished watching the recorded CC, and Wow…. If that does not get you excited, nothing will.
As usual, I find the most value in the analyst Q&A, so I will recap the major points that stuck out to me. But first, let me just say…. Electrolyzers and Green H2 are what Plug focused on, and it is going to be big… Very big.
Here is a recap of the analyst Q&A:
We now have customer sites with outdoor dispensers. (Trucks!!!)
We will have DCs with electrolyzers this year. (Plug providing DC backup power)
We have plans for Giga Factories in Dusseldorf Germany and Shouth Korea.
Andy is talking about building out Green H2 with use cases for transporting H2 via natural gas pipelines, steel production and concrete production.
Andy discussed decarbonizing airports… Everything from Planes, ground support equipment, fleet vehicles, to Green H2. This is a big market, and Plug is working hard to address it.
Green H2 - Once plants are in production, it will be a 30%+ gross margin business
Service business margins are improving, and will also be a 30%+ margin business line in the near future.
DOE Loan Guarantee - We are half way through stage 2, and are looking at 500M - 1B in low cost loans for multiple projects.
We own 2/3rd of our customer facility tanks, and that number will be increasing.
Severe weather conditions caused H2 prices to go up, and a constrained supply. Price going down now.
SK agreement - 400M revenue in 2024 with electrolyzers alone. Working with bus manufactures, ProGen, and other projects.
Electrolyzers - 4 opportunities that we are in a leadership position on, and could close this year. 500MW this year with electrolyzer deployments next year.
Partner in Europe to support building electrolyzers will be announced soon.
Partners in Australia, India, New Zealand, and around the world.
1,308 FCs deployed Q1
750M Capex this year and next. This tells me that we are well funded for years to come.
3/4 Q electrolyzer business will pick up.
5th pedestal soon with 25M second half of year.
Billions in pipeline for electrolyzer sales.
Bundling attracts new customers like Renault/SK
475M is rock solid for this year.
Symposium in September will give broader outlook with geographical and product mix for coming years through 2024.
5th pedestal is an auto industry global manufacturer
Other pedestals in Europe pending.
Amazon is buying electrolyzers from Plug
80% of Plug’s electrolyzer sales are abroad.
Over 100 customers in funnel for stationary power today and many could become pedestals
In 2025 75% of Plug’s H2 production will be used by internal customers.
This is a quick recap. Please feel free to comment with additional details.
Oppenheimer analyst Colin Rusch maintained a Buy rating on Plug Power (NASDAQ:PLUG) on Tuesday, setting a price target of $62, which is approximately 107.71% above the present share
I just read the transcript of today's call.
Best performance by Marsh in the eight years I have been investing in this company. You could tell how much those analysts like and respect the man. He was incredibly informative today and showed that he is the captain of the ship. I don't know how any investor looking for a great growth story can not focus in on Plug Power.
After reading the Q1 investor newsletter (brilliantly done and easy to read) and the transcript of the earnings CC which took place this morning, I was very impressed at PP’s progress in the hydrogen arena. Now a global energy company and expanding rapidly. With billions of dollars in the electrolyzer sales funnel and over 100 customers in the funnel for stationary power among other things, I have the impression that PP is still just getting started as a dominant hydrogen energy/power company. What a big change from just a year ago...
Haven’t sold a share, looking at a continued acceleration in its business and many more milestones to be reached over the next eighteen months, PLUG is a stock worth being patient for.
I feel this is the most intriguing excerpt from today's call..........: There are many applications beyond material handling like stationary power on-road vehicles and other industrial offerings that can only be decarbonized with hydrogen but to truly decarbonize green hydrogen is required.
Our network will not only offer the revenue and margin opportunity, but what I really think about, it's an accelerator of all our products, both fuel cells and electrolyzers. Customers want green hydrogen, and Plug Power is making that commitment to deliver. One of our distinct advantages in building our network is, unlike the industrial gas companies, we do not have existing fossil fuel-based assets. We don't have to worry about stranding multibillion dollars of investments.
SK Global Chemical to Acquire 10 Percent Equity Stake in Loop Industries, Companies Announce Strategic Partnership to Bring Sustainable and Circular Plastics to Asian Market
So PLUG Reports Qtr 1 and:
Goes Up over 14 %
Closes near the High of the Day.
Volume is overwhelmingly Confirming at more than 65 million shares.
PLUG is Up more than double the next nearest fuel cell stock today.
PLUG is Up about 17 times what the Nasdaq was today.
Contrast this with FCEL's Report last week, where they ranked the Sector.
I think we know who the Leadrr of the Sector is !!
Just the Facts......
When you invest in PLUG power, you are accomplishing SO MANY positive things SIMULTANEOUSLY:
A) The building out of the enormous, ubiquitous hydrogen infrastructure which simultaneously creates profits, jobs and HELPS RESTORE the planet to its prehistoric, primordial purity and beauty.
B) Leveraging the most ABUNDANT element, hydrogen, in the UNIVERSE, whose possibilities for production, storage and use are advancing SO RAPIDLY with the increasing prominence of artificial intelligence and phenomenal computing power
C) The emergence of solar, wind and hydroelectric generated electricity which facilitates GREEN hydrogen production by electrolysis.
D) Gives people real, substantive and lasting hope that we as ONE CONNECTED world can actually get it right when it comes to energy and a pure, clean planet.
Consider these amazing facts concerning the emergence of the Hydrogen Economy. Please do NOT take MY word for any of this, but rather, research and verify on your OWN:
Fact One: In ONE DAY (a 24-hour period), the sun delivers to the earth MORE ENERGY (in the form of sunlight) than is used by the ENTIRE POPULATION of the EARTH in ONE YEAR.
Fact Two: Hydrogen is the most abundant element in the universe, produces pure, clean energy, and is easily extracted from water by the process of electrolysis for later use in fuel cells.
Fact Three: As the cost of electricity produced by solar, wind and hydroelectric gets cheaper and cheaper with new advances in technology, mainstream hydrogen use becomes more and more COMPELLING and can no longer be ignored.
Fact One + Fact Two + Fact Three
= PLUG --> $1000 per share in two years or less
In two years or less, PLUG will have a valuation equal to or greater than Tesla. Copy this post and the date on which I posted it!
Accounting issues over. PLUG executing business plans. CEO says global hydrogen market expanding now. PLUF in leadership position in hydrogen business. Costs are coming down. Gigafactory economies of scale in Rochester. Europe building out in France and Germany especially. South Korea progress and moving forward. Add in Australia and India, etc. Capex plans for $750 million in 2021 and another $750 million in 2022. Datacenter business coming soon. 3Q guidance strong -- demand rising due to pedestal business and electrolyzer business ... Amazon, Walmart, Home Depot, GM. Fifth pedestal customer almost on board. Spread revenues across larger customer set. This kind of business expansion is just amazing. Total system solutions for hydrogen power to bundle everything to customers. Bundling a vertically integrated hydrogen power system is attracting big customers. PLUG indeed will be the largest electricity producer in the future in the USA. Go PLUG!
I really cannot think of another company that has so many possibilities that compares to PLUGs potential paths. A new disruptive energy choice with excellent blue chip customers, and partners. Please let me know who else is out there?
I believe the 5th pedestal customer is Stellantis.......Jeep is owned by Stellantis, a global automotive company formed by the Fiat Chrysler Automobiles (FCA) and PSA Group merger. The company owns 14 popular car brands including Chrysler, Fiat, Dodge, Ram, Alfa Romeo, and Maserati
I read a post that was comparing Chevron evaluation to PLUG which said there is no way a Market Valuation would even be similar based on revenues and current price per share. After thinking about this statement, we are not comparing Apple's to apples because a comparison between Chevron isnt fair and too low. Anyone ever hear of John D Rockefellar an started the standard oil company in 1897? He was considered the richest man on earth and the government mandated to split assets due to a monopoly on the industry. These assets than split into Chevron, Exxon, and mobile. Guess what, PLUG is shaping the industry and transforming the world into new technology that has lasting environmental impacts which is sustainable long term. When we compare PLUG, we should be really compare Standard Oil to PLUG. 🚀 🚀 💰.
Our old buddy Ash just posted this over on StockTwits: “The last time we ripped through $30 on high volumes, we hit $63 in 5 days!!!!” I had forgotten how quick that rise was. Don’t know if lightning will strike twice, but wouldn’t be disappointed if it did! ⚡️⚡️😬
Reposting a classic. We are seeing this playing out every quarter.
Think America, 1880, Standard Oil. You get to invest in John D. Rockefeller’s company.
The first cars are 30 years away. Electric power, heavy industry, heavy and light truck transport, cars, airplanes, ships, trains, rockets are all on the way or already present and are going to need fuel. Coal fired operation is going to be gradually replaced.
Today the next transition is underway, fossil fuels to hydrogen and batteries.
But for Plug the time scale is sped up by 5x -10x. 30 years becomes 3-6 years etc. There are more applications too. Drones, data center backup. Plug sells the electrolyzers to generate the hydrogen as well as the fuel cells to consume the hydrogen and produce power. And is an expert at safe fueling systems with over 38 million customer hydrogen fills. Plug will also have a massive business selling green hydrogen with 5 large green hydrogen plants planned for the next couple of years.
I call Plug Standard Hydrogen™️.
Evercore ISI analyst James West wrote in a Tuesday report that he wasn’t concerned with Plug Power’s near-term financials and was taking a longer-term view. He was encouraged by an announcement that Plug is working with General Motors (GM) as well as the progress the company is making on its manufacturing capacity. Plug is building more capacity to make fuel cells and hydrogen electrolyzers and expects to be running at full capacity by the fall.
An electrolyzer breaks water into hydrogen and oxygen. The hydrogen can be stored and then used to power a fuel cell.
West rates shares Buy and has a $42 price target on the stock. Overall, 70% of analysts covering Plug stock rate shares Buy. The average Buy-rating ratio for stocks in the S&P 500 is about 55%.
JPMorgan analyst Paul Coster raised Plug PT to $51 from $47, following Q1 earnings. Keep the upgrades coming!
Andy Marsh also said today at the Q1 results that Plug has still another customer for $25 Million coming in the second half. He will announce when possible.
Go Plug !!
Yes. Yes it is.
Exclusive: Bosch identifies hydrogen as a ‘megatrend’ Everybody at Bosch is excited by the possibilities that hydrogen presents. We’ve identified hydrogen as a megatrend – an area of the economy that is going to grow in significance exponentially in the coming decade.
Sustainability is a strong driver of everything we do at Bosch. As a company that has reached net zero, we recognise the need to replace fossil fuels across all areas of the economy. Hydrogen is playing a crucial part in reaching that goal.
Bosch is driving the energy transition by developing innovative hydrogen technologies in a variety of different sectors and markets.
Hydrogen has many applications, particularly in mobility, heating and industry. It can be used to power aircraft and ships in addition to passenger cars and commercial vehicles. It’s also been proven to be a clear replacement for natural gas when it comes to heating buildings.
If this does not get your juices flowing nothing will. Domination in the industry....
"We have over 100 customers in the funnel for the stationary products. And they range from large-scale data center customers, which can become pedestal customers, to folks who are present customers today, which are looking to back up their distribution centers with hydrogen since it’s already available. So, there is – I had every Monday, like most businesses, I do a review, and of each week of the quarter, I do – each week of the month, I do a different market, and it was our stationary products. And the funnel for that is astonishing, and many, many of those customers could become pedestal customers.
This is what matters most in this report:
“Sales of fuel cell systems and related infrastructure increased 128.5% to $46.77 million, and product gross margin improved to 38%”
That’s the future and gross margins are improving.
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