Plug Power ($PLUG)

tacocat1 · Toukokuu 1, 2024, 11.34am

Blueboy · Toukokuu 1, 2024, 3.38pm

Microsoft has signed a deal with Brookfield Asset Management to invest more than $10 billion to develop renewable energy capacity to power the growing demand for artificial intelligence and data centers, the companies announced on Wednesday.

Brookfield will deliver 10.5 gigawatts of renewable energy for Microsoft between 2026 and 2030 in the U.S. and Europe under the agreement. The companies described the deal as the largest single electricity purchase agreement signed between two corporate partners.

Hyvä uutinen on se että Plugilla on Brookfieldin kanssa jonkinsortin vedyn jakelusopimus yms. yhteistyökuvioita.

Taitoo · Toukokuu 1, 2024, 6.36pm

Laatu kohdallaan ja hyvällä markkinalla;

Mokkihopero · Toukokuu 1, 2024, 6.45pm

Etelä-Korea onkin edistyksellinen vetyistämisessä Kiinan ohella.

StockLover2 · Toukokuu 2, 2024, 11.13am

Jollei muuta niin viestintä toimii

JarkkoH · Toukokuu 3, 2024, 6.07am

Aika paljon on Elektrolyyseri kaupoista juttua, joka on tietenkin plussaa, mutta sitten itse pääbisneksestä eli vihreän vedyn myynnistä ei kuulu mitään.

Olisi kiva saada jotain lukuja myös vihreän vedyn myynnistä. Ilmeisesti tavoite on valmistaa vihreää vetyä 1,50$ hintaan.Täällä mainitaan, että pystytään jo tuottamaan 2$ hintaan

Green Hydrogen to Undercut Gray Sibling by End of Decade

Tuon mukaan 2030 vihreän vedyn pitäisi olla jo joillain markkinoilla kilpailukykyinen vaihtoehto. Kuitenkin Plugin mukaan pystyvät jo tekemään 2 dollarilla, joten ollaanko etuajassa? Tuohon vielä tax creditit päälle, niin vihreän vedyn pitäisi olla aika kilpailukykyinen vaihtoehto.

Mistään en äkkiseltään löytänyt myyntihintoja vihreälle vedylle.

sillinkutoja · Toukokuu 3, 2024, 11.03am

everlaastia · Toukokuu 3, 2024, 4.05pm

everlaastia · Toukokuu 8, 2024, 11.24am

Mielestäni vedyn myynti ei ole plugin pääbisnes tällä hetkellä, vaan se on enemmän pakollinen paha ja mahdollistaja. Ilman järkevän hintaista puhdasta vetyä ei markkinat kasva. Toivottavasti jossain vaiheessa siitä kasvaa myös isosti tuottoisaa bisnestä. Vedyn hinnastahan tuotantokulut selittää vain melko pienen osan, isoin osa koostuu muista kuluista. Ja Plugilla on onneksi tähän haasteeseen myös vastauksia.

Vedyn myyntihinnasta ei ole tietoa, mutta arvauksia on että sopimukset olisivat olleet siinä 5$/kg haminoissa. Ei liene enää merkittävä tieto, sillä yhtiöhän on ilmoittanut irtisanovansa nuo tappiolliset sopimukset eikä enää hyvitä vedyn hintaa. Se ei asiakkaillekkan välttämättä ole katastrofi, sillä Plugi arvioi vedyn hintaa toimitettuna asiakkaille näin:

Huomenna on jännä päivä. On mielenkiintoista nähdä millaisen ryhtiliikkeen yhtiö on saanut aikaiseksi.

Vielä tuosta Korean etenemisestä tällainen juttu:
http://www.gasnews.com/news/articleView.html?idxno=115227&fbclid=IwZXh0bgNhZW0CMTEAAR3oOcFKeXiKrzc1sRELBgOH1PorN_2Yl6oKGEUm-D6jnlKx4bXsHDsAcD0_aem_AVtAKocQ3uVNTq7zPQM8k0dtIcAasuab78M0Wqc5v9KRgLqa8oTRe4XV6hjmFIRwPJAxiJogaDbyOVWIhn64QvWS

S&K ES on vissiin saanut maailman suurimman nestemäisen vedyn tuotantolaitoksen tulille. Taitaa olla 90TPD laitos. Kannattaa muistaa, että Koreassa on tarkoitus laittaa 1600 vetybussia liikenteeseen lyhyessä ajassa, joten vetyä tarvitaan. Sen lisäksi Hyundai Nexon uusi versio julkaistaan ensi vuonna, joten painetta vedyn tuotanto- ja jakeluketjulle tulee sitäkin kautta.

Edit: Täällä sama artikkeli toisella kotimaisella:

o11 · Toukokuu 8, 2024, 4.29pm

Ainakaan Q4:n earnings callissa ei kummempaa ryhtiliikettä Q1:lle povattu:

The second piece you’re going to see in 2024, as we execute in this backlog, margins will not be as great in Q1. It will improve in Q2, but margins as well as cash flow will again improve in the second half of the year, as you start to see cost going down, as you also start to see higher price opportunity flow through that P&L.

—

Q1 is going to start out somewhat similar to what the Q4 was like, but I think you will see a step change in that revenue as you go into Q2, Q3, and Q4, number one.

Kun DOE:n rahoituskin menee aikaisintaan syksylle, itseä kiinnostaa tietysti, mitä kassatilanteesta viestitään. Ja kyetäänkö toistamaan yllämainittu ohjeistus paremmasta loppuvuodesta. Kummoisia odotuksia ei kuitenkaan Q1-luvuille ole liikevaihdon, kannattavuuden eikä kassavirran osalta.

everlaastia · Toukokuu 8, 2024, 7.23pm

En itsekkään ihmeitä odota, mutta haluan nähdä jo alustavia viitteitä kulukuurin tuomista säästöistä. Joskin oletan, että isoimmat vaikutukset näkyvät vasta q2 ->.

Mokkihopero · Toukokuu 8, 2024, 7.40pm

En odota vielä Q1 mitään, Q3-Q4 on jo vähän odotuksia.
Plugilla on niin paljon menossa ja rahaa vielä palaa, ennenkuin tuottoja alkaa näkymään.

Blueboy · Toukokuu 9, 2024, 11.06am

Siinäpä se Q1 nyt ihmeteltäväksi…

Earnings-Per-Share (EPS) and Revenue: The Company reported revenue of $120.3 million and EPS loss of $0.46 for the quarter ended March 31, 2024.

Huh huh… Suhteellisen kova laskupäivä voipi olla tiedossa. EPS sentään parempi kuin edellisellä kvartaalilla, mutta liikevaihto on kyllä surkea.

o11 · Toukokuu 9, 2024, 11.11am

Huhhuh, odotukset oli tosiaan melko lailla nollassa, mutta ihan näin karmeita lukuja en silti osannut odottaa.

LuxusInvest · Toukokuu 9, 2024, 11.12am

Eikö tuo nyt ihan estimaatteihin mennyt? Hirveäähän tuo on, mutta sitähän odotettiin.

o11 · Toukokuu 9, 2024, 11.15am

In its upcoming report, Plug Power (PLUG) is predicted by Wall Street analysts to post quarterly loss of $0.33 per share, reflecting an increase of 5.7% compared to the same period last year. Revenues are forecasted to be $173.08 million, representing a year-over-year decrease of 17.7%.

Ei mennyt ei. Ennusteet oli melko konservatiivisia, mutta jäätiin niistäkin.

DayTraderXL · Toukokuu 9, 2024, 11.18am

The Zacks Consensus Estimate for the company’s first-quarter 2024 revenues is pegged at $173 million, suggesting a decrease of 17.6% from the year-ago quarter’s reported figure. The consensus estimate for the company’s adjusted earnings is pinned at a loss of 33 cents per share compared with a loss of 35 cents per share in the year-ago quarter

Samanlaiset ennakot oli itselläkin odotuksissa - 120Musd liikevaihdolla melkein 300Musd tappiot. Pitää tutkia tarkemmin, mistä tappiot muodostui.

DayTraderXL · Toukokuu 9, 2024, 11.47am

Myynnin kulut 135M (vrt net revenue 120M), palvelusopimustappiot 16M, sähkömenot 55M, maakaasun myynti (oletan) 58.5M, Varastonarvon pudotus 40M, yhteisyrityksen tappiot 14M

huonompaan suuntaan ollaan vaan menossa. Myyntisaamiset 96.5M eli myydään velaksi, kun ei muuten kauppa käy

Monte_Cristo · Toukokuu 9, 2024, 11.52am

Kävin vähän (liikaa) lukemassa noita vanhoja tuloksia, tavoitehintoja ja arvioita koska tehdään tulosta…kannattaa ehkä suhtautua harkitsevasti tähänkin vety puljuun ennen kun ainakaan lisää sijoittaa ja lukea vaikka omat ja muiden vanhat kirjoitukset läpi jos uskaltaa.
Kyllä Andyltä juttua tulee.

Oheinen viesti on vain sattumanvaraisesti poimittu.
Tämä siis positiivisena viestinä asiana tällaisena synkkänä tulospäivänä.

Itsekin olen tässä mukana, mutta varustaudun, että tölkkiin osuu vähän kovempi laaki tällä kertaa…
Tukiaisia tarvitaan.

sillinkutoja:

https://www.bizjournals.com/albany/news/2021/02/11/plug-power-hydrogen-fuel-cell-future-strategy.html

[Andy Marsh] left Plug Power headquarters around 6 p.m. and drove north toward his condo in Saratoga Springs. The chief executive had one goal — find a way for his business to survive the year.

It was Feb. 14, 2013, and Plug Power just completed a stock sale, raising $2.5 million by selling shares for 15 cents apiece. Walmart, Marsh’s largest customer, called the deal the “Valentine’s Day massacre.”

Plug was running out of cash. Software and design flaws delayed shipments to several customers. The company had less than $700,000 in the bank. And Marsh figured the day was coming when he’d be forced to write a personal check to cover payroll.

Those weren’t the only problems Plug was facing. Nasdaq was threatening to kick the company off the stock exchange because shares had traded for well under $1 for six consecutive months.

“We were probably a month away from disappearing,” Marsh said.

As he drove up Interstate 87, crossing over the Mohawk River to spend what was left of the evening with his wife, Marsh’s cell phone rang. Eric Prades, an executive with Air Liquide, one of the world’s largest industrial gas suppliers, was calling from France.

It was after midnight in Paris but Prades had heard Plug was in trouble and he wanted to know how Air Liquide could help.

“I told him we needed $5 million,” Marsh said.

Air Liquide came up with $6.5 million.

The story of how Marsh and a lifeline from investors pulled Plug Power back from the brink is as unlikely as the meteoric rise the fuel cell manufacturing company has taken over the past 12 months.

During a year when the Covid-19 pandemic wiped out restaurants, grounded airlines, emptied arenas and forced department stores J.C. Penney and Neiman Marcus into bankruptcy, sales skyrocketed for Plug Power and many of its customers.

Many of the companies that buy Plug’s forklift-powering fuel cells — Walmart, Amazon and Kroger — saw huge spikes in revenue as the pandemic prompted consumers to change their habits. Instead of going out to dinner and catching a movie, consumers spent much of the year cooking and entertaining at home. That translated to more revenue for Plug.

“Was I expecting it? The honest answer is no,” Marsh said. “When everybody is eating at home and 30% of the food on peoples’ shelves is moving through Plug Power’s equipment, and people like Walmart are seeing they really couldn’t get the work done they wanted to get done unless they use Plug fuel cells in their operations, that was a big factor.”

Eight years after Plug survived its brush with death, the company is on much different trajectory.

Marsh just completed Plug’s largest capital raise in its 24-year history, netting close to $2 billion selling shares at $65 apiece. A manufacturer that had less than $700,000 in the bank eight years ago is sitting on more than $5 billion in cash today.

Plug Power is leading the push to create what Marsh calls a “hydrogen economy,” tapping into the government- and corporation-motivated goal of reducing the reliance on fossil fuels by using hydrogen-fed fuel cells to power everything from forklifts and delivery trucks to data centers, drones and power plants.

Over the past year alone, Plug has signed joint ventures with South Korean energy and chemical giant SK Group and French automaker Renault.

By building an international sales pipelines and preparing to open factories in Rochester, New York, and eventually South Korea and France, Marsh is constructing a global market that he believes will propel Plug to $1.7 billion in annual revenue by the end of 2024.

That is more than seven times higher than its 2019 sales total of $230 million.

“There is no place else in the world but Albany, New York, where you can get all of your hydrogen and fuel cell solutions in one place, and that’s not an exaggeration,” Marsh said. “That made the Renault deal happen. It made the SK deal happen.”

The company whose stock hovered between pennies and $3 for the past decade saw a steady uptick in share price starting in January 2020. Since then, the stock is more than 20 times more expensive, trading for anywhere from $60 to $75 a share.

Enlarge

Plug Power chief executive Andy Marsh, right, with Craig Guynup, center, and Jason Mallory.

ARRAY

The rise in share price has been fueled by earnings growth and Plug’s goal of transforming hydrogen into a fuel of choice for forklifts. And Marsh believes forklift customers soon will be followed by manufacturers of delivery trucks, cars, ammonia, steel and concrete.

Marsh spent $123 million last June to purchase hydrogen electrolyzer maker Giner ELX in Massachusetts and United Hydrogen Group in Pennsylvania. The acquisitions gave Plug the ability to start making its own hydrogen without the use of fossil fuels. The company plans to build two hydrogen generation plants, at a cost of about $100 million each, by the end of next year.

Even as Plug’s fortunes have turned and its value or market capitalization soared from $1 billion at the end of 2019 to more than $30 billion today, the company still has its critics.

Chief among them is Manhattan money manager and stock short seller Kerrisdale Capital, which refers to Plug fuel cells as “fool cells.” It is worth noting that short sellers make money when the stock price falls.

Kerrisdale analysts issued a report in January warning that Plug’s elevated stock price is due to “naïve excitement of uninformed investors over the prospects of the hydrogen economy or the idea that hydrogen and the fuel cells it can power will be a critical part of the transition from fossil fuels to green energy.”

“It’s all just a pipe dream, because ‘green” hydrogen is too expensive and too inefficient to produce, store, transport and burn,” Kerrisdale analysts wrote.

Kerrisdale took a similar position in 2020 with stocks connected to U.S. sports streaming company FuboTV and plant-based food company Tattooed Chef.

Senior research analyst Craig Irwin of Roth Capital Partners in New York City looks at Plug Power differently.

Irwin, a managing partner who oversees Roth’s cleantech business group, said one of the biggest changes for Plug came when chief strategy officer Sanjay Shrestha mapped out the company’s hydrogen strategy.

That gave Plug the ability to sell customers “completely carbon-neutral” hydrogen, Irwin said.

“That is the real seismic event for Plug in the last year, executing on their hydrogen strategy,” Irwin added. “Now, they have one of the big global automotive [manufacturers] tying with them, saying, ‘We need your technology, we want to be a leader in fuel cells for consumer vehicles globally. Can we be your partner?’ ”

Irwin, who also covers Tesla, Cree and electric bus maker GreenPower Motor Co., has tracked Plug for seven years. But he became familiar with the fuel cell maker two decades ago while working for investment bank First Albany Cos., which at the time was chaired by George McNamee, the only chairman Plug Power has ever known.

Irwin knows Plug has had its ups and downs. But the company has grown rapidly since it changed its philosophy in mid-2019.

“It all goes back to a mantra which shifted 18 months ago,” Irwin said. “Do exactly what you say you are going to do — and think big.”

As of August, when Plug surpassed 35,000 fuel cell-powered forklifts in the field, mostly in large distribution centers, it gave the company the credibility and a track record to venture into other markets that will generate higher demand for fuel cells than forklifts, Irwin said.

Enlarge

Plug Power’s goal is $1.7 billion in annual revenue by the end of 2024.

DONNA ABBOTT-VLAHOS | ALBANY BUSINESS REVIEW

Although Marsh is more bullish on Plug than at any time since he took over, it is no surprise to him that the company continues to have its share of critics even as the business attracts attention around the world.

When he became CEO in April 2008, Marsh knew right away there was a problem. As he walked onto the factory floor for the first time, it was silent. Employees weren’t making anything.

“Plug Power, at that time, was not a product company. There really wasn’t business DNA, it was more of a research and technology house,” Marsh said. “There was really no such thing as a fuel cell with hydrogen industry then. It was kind of a bunch of ideas on pieces of paper.”

The company started in 1997 as a joint venture of Mechanical Technology Inc. of suburban Albany and DTE Energy of Detroit. Plug went public two years after it began and took a wild ride with shares trading for anywhere from $140 to nearly $1,500 in 2000 before a steady decline that culminated in Marsh’s arrival eight years later.

The electrical engineer with degrees from Temple, Duke and Southern Methodist universities, was recruited after 25 years developing products in the telecommunications industry with Lucent Bell Laboratories and Valere Power, a Dallas company he co-founded in 2001.

Marsh also realized quickly how many people in the Albany region were angry about money they lost investing in Plug stock. The excitement surrounding fuel cells — and the potential for changing the way people power everything from homes to office buildings — had worn off.

Even outside of work, Marsh bumped into people who would complain about Plug. It didn’t matter if he was house shopping or picking up a prescription at the drug store.

When the pharmacist complains, Marsh said, it makes you think twice about what kind of medication they are putting in the bottle.

Twelve years later, Marsh remains uncertain if Plug’s recent success has changed the perception of the company around Albany.

But it has become easier to recruit talent to work at the company. A prime example was the decision by engineering directors Mani Ramani and Chuck Carlstrom to return to Plug after stepping away for several years. Vice president of Human Resources Tammy Kimble also came back.

“It’s gone from people in the Albany area who know us to people around the world,” Marsh said.

He expects that trend to continue.

With President Joe Biden in the White House and the recent decision by the United States to rejoin the Paris climate agreement, there is a lot of opportunity for Plug.

The macro conditions are all well positioned for Plug to grow, Marsh said. Even Europe is allocating a piece of its economic recovery money toward hydrogen and fuel cells.

“I always knew with the right macro conditions, we kind of had infinite possibilities,” Marsh said.

E. tuosta uutisen kuvasta, mikähän lista tuo on Stihl pisti silmään

Magyar_Feher_Bor · Toukokuu 9, 2024, 11.56am

Net cash used in operating activities and capital expenditures (includes purchases of property, plant, and equipment and purchases of equipment related to power purchase agreements and equipment related to fuel delivered to customers) collectively decreased 38% quarter-over-quarter (QoQ), and 42% year-over-year (YoY), with incremental improvement expected as internal hydrogen supply and pricing increases make an impact in coming quarters. Inventory reduction remains a key priority in our cash management strategy for 2024.

Vaikka absoluuttiset kustannukset olisivat laskeneet, on ne silti nousseet suhteessa liikevaihtoon.

Kohta saa taas halvalla.