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

|About: Plug Power, Inc. (PLUG)|By:, SA News Editor

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%.