What Is The Color Of Hydrogen?

Plug Power is looking to expand it capacities and build a solid green-hydrogen fuel cell infrastructure in the US

Hey Global Investor, here’s what you need to know before the US markets open.

Market Snapshot 📈

S&P 500 (Tuesday Close) 3,635.41 +57.82 (1.62%)

NASDAQ (Tuesday Close) 12,036.78 +156.15 (1.31%)

FTSE 100 (5 PM IST) 6399.01 -33.16 (0.51%)

NIFTY 50 (Today’s Close) 12,858.40 −196.75 (1.51%)

USDINR (5 PM IST) 73.92 (1 Year +3.33%)

What Is The Color Of Hydrogen?

Plug Power is looking to expand it capacities and build a solid green-hydrogen fuel cell infrastructure in the US

Background: In the cavernous warehouses of Amazon, Walmart, Home Depot, and DHL, silent forklifts and other working vehicles do the heavy lifting. These hydrogen-powered vehicles have overtaken battery-powered ones in these warehouses – they’re faster to refuel, and more durable. The company that is working on building this clean hydrogen economy is Latham, NY-based Plug Power.

Amazon and Walmart, two of the company’s biggest clients, have taken to Plug’s products. It didn’t hurt that the fuel-cell maker offered both clients stock warrants in exchange for every $50M purchase. Plug’s rising stock has only sweetened the deal for them.

What Happened? The company currently sources low-cost renewable power from partners such as Apex Clean Energy and Brookfield Renewable. On Tuesday, Plug Power announced a successful raising of $1B to fund the building of a US-wide network of green hydrogen production facilities.

Plug’s hydrogen source thus far has been natural gas, which generates a considerable carbon footprint. Plug’s Gigafactory, which is expected to come online in 2021, will expand the production of fuel cells and green electrolyzers. By 2024, it aims to produce around 1.5 GW of fuel cells and about 500 MW of electrolyzers per year. These plans have received a thumbs up from investors and the company has been one of the standout stocks of the year.

Plug Power plans to expand from forklifts to heavy-duty vehicles to serve ports across the US and Europe and offer fuel cells to run distribution hubs and data centers. Although hydrogen-powered vehicles still playing catch-up with battery-powered EVs, there’s plenty of room for growth here as well. Plug Power is just about starting to power up!

Market Reaction: Plug Power’s stock has risen 600% YTD. It closed Tuesday at $26.72, down 0.56%.

Company Snapshot 📈

PLUG $26.72 -0.15 (+0.56%)

Analyst Rating (9 Analysts) BUY 89%, HOLD 11%, SELL 0%

Newsworthy 📰

  • Can’t Say for Sure: Nikola shares fall after CEO fails to reassure investors GM won’t pull out of $2 billion deal (NKLA +17.31%)
  • Rise and Shine: Tesla market value crosses $500 billion in meteoric rally (TSLA +6.43%)
  • Opinion: HP, Dell results buoyed again by work-from-home trend, but are they sustainable? (HPQ +2.64%, HPQ +1.36%)

Later Today 🕒

  • 6.00 PM IST: Initial jobless claims (regular state program, SA)
  • 6.00 PM IST: Continuing jobless claims (regular state program, SA)
  • 6.00 PM IST: Gross Domestic Product (Revision)
  • 7.30 PM IST: Consumer sentiment index (final)
  • Before Market Open: Deere & Co Earnings (DE)

Fun Fact of The Day 🌞

“Jingle Bells” Was Originally a Thanksgiving Song

Disclaimer: The content of this article has been created and published by Winvesta India Technologies Pvt. Ltd., in order to ease the reader’s understanding of the subject matter. The information and/or content (collectively “Information”) provided herein is general information sourced through various news reports and does not constitute a research report or a research analysis. The Information is not intended to offer advice, target or solicit any particular customer or group of customers to buy or sell securities. 

Winvesta does not render any research or advisory services and provides a more detailed description of its services on its website and mobile application along with the terms and conditions published therein from time to time. While reasonable care has been exercised to ensure that the Information is adequate and reliable, no representation is made by Winvesta as to its accuracy or completeness and Winvesta, its affiliates, subsidiaries and employees accept no liability of whatsoever nature for any direct or consequential loss, including without limitation any loss of profits, arising from reliance on this Information. Neither Winvesta nor any of its affiliates are acting as an investment adviser, research analyst or in any other fiduciary capacity. Accordingly, reader’s are expected to undertake their own due diligence in consultation with their own advisors and are advised not to solely rely on the Information. Any such reliance shall be at the reader’s own risk. 

All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. There is always the potential of losing money when you invest in securities, or other financial products. Investors should consider their investment objectives and risks carefully before investing.

Start Building Your Global Portfolio Today

Download Winvesta App now to Get Started