Plug Power +3% as CEO Marsh says it is exploring new markets

Plug Power (PLUG +3%) CEO Andrew Marsh tells Bloomberg the company is discussing plans to expand fuel cell usage into different areas, such as airport support vehicles and refrigerated tucks, while expanding its presence with trucks and forklifts.

Growing demand for cleaner forklifts has helped boost PLUG shares more than 1,000% in the past six months, and the company expects orders to almost quadruple this year to ~$150M, but Marsh says forklifts are only a niche to sustain the company; now the CEO wants to expand into new areas where fuel cells can compete with electricity from fossil fuels.

Other alternative energy names are getting a moderate lift: BLDP +2.4%, FCEL +1.1%.

From other sites
Comments (13)
  • GameKing13
    , contributor
    Comments (740) | Send Message
    This means nothing. Marsh says stuff like this ALL THE TIME. When's the REAL news? The news that will drive this so high that I'll HAVE to sell and take my profits?!
    8 Apr 2014, 10:19 AM Reply Like
  • JoeCoolTrader
    , contributor
    Comments (19) | Send Message
    Trying to pump without real news. Did he have a dream as well?
    8 Apr 2014, 10:21 AM Reply Like
  • Just_waiting_for_profit
    , contributor
    Comments (25) | Send Message
    Marsh is just a pumper! Always having something "good" to say to every news outlet. Beware!
    8 Apr 2014, 10:21 AM Reply Like
  • flyerguy1300
    , contributor
    Comments (1140) | Send Message
    You guys continue to make me laugh calling him a pumper etc lol
    8 Apr 2014, 10:26 AM Reply Like
  • Energysystems
    , contributor
    Comments (2130) | Send Message
    He is what he is.
    8 Apr 2014, 10:31 AM Reply Like
  • EquityTrader1975
    , contributor
    Comments (409) | Send Message
    I am going to buy some stocks that will go in direction that will increase in value, wait I just pumped the market! My Bad
    8 Apr 2014, 10:55 AM Reply Like
  • Nathan Brooks
    , contributor
    Comments (559) | Send Message
    Nothing to see here folks, nothing to see here.
    8 Apr 2014, 10:28 AM Reply Like
  • Weighing Machine
    , contributor
    Comments (917) | Send Message
    What a terrific announcement Marshie! How many companies are not considering new markets? Seriously...This stock is such a joke. I am short
    8 Apr 2014, 10:34 AM Reply Like
  • D00ner
    , contributor
    Comments (44) | Send Message
    It wasn't an announcement; it was an interview. No pump and dump, IT WAS AN INTERVIEW. General insight and overview of corporate strategy. But, I'm OK with it, the stock is becoming more mainstream. And with every INTERVIEW, the stock (and my portfolio) goes higher. BTW, at what point does it start to become eligible for a small cap index, and an ETF?
    8 Apr 2014, 10:40 AM Reply Like
  • Alphadogspartan
    , contributor
    Comments (225) | Send Message
    29 Reasons to own Plug Power.
    1)Advanced Electric Forklift Technologies Will Surpass $500 Million in Annual Revenue in North America by 2020.(1)
    2)Hydrogen consumption will grow from $1.3 billion annually in 2013 to $49.8 billion in 2030.(1) Forklift Fuel cells are estimated to consume 35 percent of the hydrogen.
    3)Annual Fuel Cell Systems sales world wide will surpass 600,000 by 2017.(1)
    4)300000 TRU Transport Refrigeration Units can be powered by fuel cells. Being tested with Sysco.
    5)More Than 35 Million Electric Vehicles Will be On Roads Worldwide by 2022. Fuel Cells range extenders to play a big part.(1)
    6)Global Fuel Cell Industry to surpass 15 Billion market value by 2017.(1)
    7) US continues to be one of the world's largest and fastest growing markets for fuel cell and hydrogen technologies.(1)
    8)350,000 Hybrid and Electric Trucks Will be Sold Worldwide from 2013 to 2020.(1)
    9)Air Liquide and Hypulsion partnership provides access to European Market.
    10) Susquehanna Capital 30 million dollar investment provides a vote of confidence and indicates the business is growing.
    11) 90 percent of forklifts to be fuel cell powered in 11 years predict International Truck Association.
    12) There are 300,000 airport ground support vehicles can be powered by forklifts, being tested with FedEx.
    13) Gen Key provides hydrogen infrastructure sales servicing and hydrogen sales.
    14) Asia partner to provide access to Asia.
    15) FedEx Electric trucks being tested with Fuel Cell range extenders. This will extend range from 80 to 160 miles.
    16)Recent 1700 forklift Walmart Deal provides 100 million in recurring revenue over 6 years in hydrogen sales and validates the concept. This deal is open ended.
    17) Plug has only penetrated 2% of forklift market of 6 million.
    18) 1st Quarter 2014 revenue 2014 projected to meet 2014 year goal.
    19)In 2014 Plug Power will be profitable.
    20) Fuel cell sales are predicted to increase 100% YoY in the next 5-8 years.
    21) Walmart has started conversion of it 40,000 fleet of forklifts. Walmart estimates 2 to 7 million dollars savings over 7 years per distribution center. Extrapolate out with 150 distribution centers and the savings for Walmart will range from 300 million to 1 billion over 7 years.


    22) Walmart does not even consider battery forklifts in any of its new distribution centers


    23) Kroger with 10000 forklifts has started its forklift fleet conversion.


    24) 4,000 Plug GenDrives that have been shipped to customers over the years are consuming 90 percent of all of the hydrogen used in fuel cells located in North America.(2)


    25) Plug is estimated to ship more fuel cells in 2014 than in the previous 16 years.


    26)Plug has installed 45 Hydrogen fuel stations.


    27)The NASDAQ OMX Group, added Plug Power to the NASDAQ Clean Edge Green Energy IndexSM , effective prior to market open on Monday, March 24, 2014.


    28)Plug bought ReLion Fuel Cells and will be entering the stationary fuel cell market.


    29) Another institutional investor bought 3.9 million shares of Plug @5.74


    (1) Navigant Research
    8 Apr 2014, 06:35 PM Reply Like
  • Mikey Gee
    , contributor
    Comment (1) | Send Message
    Let's look at the facts----A company with a good idea and somewhat limited in promoting their concept. I haven't seen too many people riding in their Bentley's powered by a fuel cell made by Power Plug, right? They need some help----an infusion of capital to grow by acquisition of relative companies. OR someone who has deep pockets and sees the Plug Power had potential they may take them "out" for $1.75-$2.25Billion. Thank about it,
    9 Apr 2014, 12:18 AM Reply Like
  • Doc's Trading
    , contributor
    Comments (1847) | Send Message
    Technical update: Continue holding short position... Stop remains at 9.10
    more later.....
    9 Apr 2014, 12:24 AM Reply Like
  • GameKing13
    , contributor
    Comments (740) | Send Message
    Please..... Tell us more.... You sound like a GrandMaster.... Who knows everything.....


    Technical Update: no one cares....
    9 Apr 2014, 12:38 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs