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  • Plug Power: Driving To Be A Profitable Fuel Cell Company [View article]
    Jim,
    I have stopped trying to forecast Plug's shipments. For now I am primarily interested in seeing proof that the quality issues are solved. The blue chip customers who have been their biggest asset have to show they are satisfied with the product and the value proposition. Only then will i need to make sense of the financials.
    Dec 7 09:38 AM | Likes Like |Link to Comment
  • Why Plug Power Could Double [View article]
    Thrifty
    Something did change. The company was previously on a stronger order growth trend and gross profit margin improvement trend that looked like the company might reach cash flow positive territory before needing more cash. Or at least if they did get more cash they might get a better deal from the financiers. With recent poorer than expected performance, it looks more like they will have to raise cash sooner, and probably for less favorable terms, hence the likely dilution.
    Sep 16 01:06 PM | Likes Like |Link to Comment
  • Why Plug Power Could Double [View article]
    I would say there is an apparent reason - the last two quarters have seen tepid orders and shipments, and potential for more dillution. I am not sure why order rates have fallen off, as the company still seems to be on a winning strategy (in my opinion). Could just be just a delay while initial customers digest what they have already ordered.
    Sep 11 09:42 AM | Likes Like |Link to Comment
  • Plug Power: Driving To Be A Profitable Fuel Cell Company [View article]
    It is an ugly balance sheet, and it should be at least a cautionary reminder to anyone investing in early stage companies that the risks are high. However, the amount that PLUG and other companies like Ballard lost getting to where they are now is, in my view, somewhat irrelevant to people making an investment today. The buckets of lost cash were the result of a completely different strategy, by a different management team, at a different time. At that time the company was pursuing a much broader set of objectives with a much higher burn rate, and less developed products.
    Jul 23 09:54 AM | 1 Like Like |Link to Comment
  • Plug Power: Driving To Be A Profitable Fuel Cell Company [View article]
    Your points will be relevant in the discussion as it relates to outdoor transportation (although I've heard the hydrogen costs today are about 2x, not 4x gasoline/diesel costs). In Plug's case, the comparison is not against diesel, but against the electricity and battery charging/battery replacing costs. You can't run gasoline/diesel lift trucks indoors.
    Jun 25 02:21 PM | Likes Like |Link to Comment
  • Plug Power: Driving To Be A Profitable Fuel Cell Company [View article]
    I can't agree with you. Their lift truck strategy seems to be working so far. They are the dominant player in a new business that has huge growth potential. They have gold plated customer references proving the concept every day. Few startups are in a better position, (especially in the fuel cell category), and I wouldn't want them to change direction at this point.
    Jun 25 09:09 AM | 1 Like Like |Link to Comment
  • Plug Power: Driving To Be A Profitable Fuel Cell Company [View article]
    I'm assuming that one more common stock offering (via institutional investors) is likely. How dilutive will it be? It will depend, I believe, on the progress PLUG makes in the next few quarters. If they can reduce the cash burn rate the next cash injection could be the last before they emerge into cash positive world, and that could entice the institutional investors to buy in at a higher (less dilutive) price.
    Jun 25 09:02 AM | Likes Like |Link to Comment
  • Plug Power: Driving To Be A Profitable Fuel Cell Company [View article]
    Plug does help their customers compare the lifetime cost of a Plug technology versus an installation using conventional lead acid batteries. The pricing of their equipment is only a component of that analysis. Significant benefits for Plug include the higher productivity of lift truck operations using hydrogen as fuel, and reduced greenhouse gas emissions. I've wondered if they could increase their prices - based on the reduced greenhouse gases benefit. Large companies have shown a willingness to spend a little more to get the environmental benefits.
    Jun 24 04:51 PM | 1 Like Like |Link to Comment
  • Why Plug Power Could Double [View article]
    If you want to follow and write about Ballard, feel free. Their business model doesn't interest me. That doesn't mean they are a bad company. This is an article about Plug Power.
    Mar 23 03:03 PM | Likes Like |Link to Comment
  • Good Economy Or Bad, Ameresco Should Continue To Grow [View article]
    I haven't updated my research on AMRC, but I follow their releases and I haven't seen anything to change my mind. Still holding some shares I bought back around the time of the article, and they are up about 15%.
    Mar 23 10:08 AM | Likes Like |Link to Comment
  • Why Plug Power Could Double [View article]
    I don't see this as new news. Just the usual cataloging of every possible risk that can be stuffed into a prospectus. They forgot to mention solar flares, and the prediction for the end of world in December 2012.

    There is no doubt that governments are a factor in helping this industry grow. With $5 a gallon gasoline looming, I don't expect governments to entirely back off the encouragement of alternate fuels.
    Mar 23 09:21 AM | Likes Like |Link to Comment
  • Why Plug Power Could Double [View article]
    Thanks. It's hard to like a stock when the price is dropping. However, I haven't seen any fundamental change in the value of the company since the 4th quarter earnings release. They had already told us need cash to get through this year at their stated gross margin target of 10% for 2012. Although 10% is hugely improved from 2011 it isn't enough to get cash flow positive. It will be a volatile ride because they won't be able to show a profitable quarter in 2012 and investors are nervous. Best hope in 2012 is to see continued good bookings, and consistent improvements in gross margins.
    Mar 23 09:15 AM | Likes Like |Link to Comment
  • Why Plug Power Could Double [View article]
    With the absence of any other relevent news, my guess is a reaction to dulution. FCEL also took a beating on news that they were raising cash, so there might be some cross-over effect. Investor's reactions are interesting, when you consider that it was pretty obvious they were going to need more cash.
    Mar 23 08:49 AM | Likes Like |Link to Comment
  • Why Plug Power Could Double [View article]
    I don't have any details on employees. They cut back when they went to the strategy of primarily focusing on building for the lift truck market, and they are trying to keep the expenses down until the revenues catch up with expenses. I'd be more worried at this point if I saw the number of employees creeping up.
    Mar 19 04:36 PM | Likes Like |Link to Comment
  • Why Plug Power Could Double [View article]
    I guess other big players could be waiting in the wings for Plug to "pave the way" as you say. However I am betting that the time for others to play catch up will leave them far behind the market share leader. I believe there is a lot more value to the complete package that Plug sells besides the fuel cell stack. Plug has to provide software, energy and water management systems, sales support, service support, and battery pack compatible wiring and physical packaging. OEM's could decide to do this, but like automakers that buy tires from third parties, I expect that most will outsource the power source, or leave it up to their dealers to choose the power source. Also, there is the replacement market.
    Mar 15 02:56 PM | Likes Like |Link to Comment
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