On 27 October, Plug revealed it had struck a partnership deal with Lhyfe – a producer and supplier of renewable and ecological hydrogen – to develop green hydrogen- generation plants throughout Europe. In mid-October, Plug announced it was buying Applied Cryo Technologies (ACT) , a specialist in the equipment needed to store and move liquid gases such as hydrogen. He will be in charge of building the company’s first green-hydrogen production network across the United States. Mobility and Stationary Power Solutions – led by chief operating officer and senior vice president Keith Schmid, who will be overseeing the firm’s research and development (R&D) efforts, and the roll-out of crucial infrastructure for the deployment of Plug’s solutions, products and services.Įnergy Solutions – led by Sanjar Shrestha, who has been serving as chief strategy officer for the company since 2019.
PLUG POWER STOCK EARNINGS DATE 2021 PROFESSIONAL
Material Handling and Global Key Accounts – led by Jose Luis Crespo, a seasoned professional with a strong retail background who will lead the company’s customer relation management (CRM) strategies. Moving forward, Plug Power’s business structure will be broken down into the four different units below:Įlectrolyser Solutions – led by Ole Hoefelmann, a 30-year veteran of the hydrogen industry. The company said these appointments will help it manage its vertically integrated business and accelerate growth. The company said its gross margin remains under the same pressures it experienced in the second quarter pressure and is driven by a range of factors including higher fuel, service, and product costs as well as the impact of COVID-19 on the global supply chain.īased on current technical readings and fundamentals, is this a sign that finally fuel cells and Plug Power are on the up? Or is the downward drift set to return? Other Plug Power company newsĪside from its latest earnings report, other Plug Power news includes its announcement on 19 August that it had appointed four key general managers to work alongside CEO Andy Marsh, each leading individual business units.
PLUG POWER STOCK EARNINGS DATE 2021 UPDATE
In its business update Plug Power said it could be seeing $3bn revenues by 2025 with a 20% margin. It expects to be producing 70 tons of green hydrogen a day by the end of the year and scaling up to 500 tons a day by 2025. Market sentiment seemed to be either that it did not believe the company could deliver those numbers or investors thought they were not being positive enough? Even so, now the thinking is turning to the green energy possibilities of fuel cells. The stock price of hydrogen and fuel cell maker Plug Power looks to be finally making some headway for the first time in 2002 as it has risen 48% since its low at the end of January to $25.9 today (21 March).Īs the price of traditional hydrocarbon fuels has rocketed so attention has turned to the potential of alternative sources of energy particularly for transport.įuel cells may not carry the cachet of battery electric vehicles like a Tesla because they are favoured by larger vehicles such as trucks and buses. But Plug's CEO Andy Marsh recently suggested the sanctions against Russia for invading Ukraine are highlighting the "need to move away from the Russian gas station" has become a "national security issue".Įven before the war Plug Power laid out bullish plans for the company including a revenue goal in excess of $900m.
Powering ahead: Will hydrogen fuel-cell supplier Plug Power recover its stock momentum? – Photo: Shutterstock
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