Keep an eye on Plug Power (PLUG).
After a vicious pullback, the stock is showing big signs of life again. In fact, over the last few days, PLUG ran from about $8 to $9.55 and could push even higher. That’s thanks in part to the news it will supply Energy Vault with 8 MW of hydrogen fuel stationary power to help deliver clean energy to a part of California. Plug also said this will be the largest planned hydrogen-powered fuel cell installation in the U.S.
“Our agreement with Energy Vault marks a huge step forward for hydrogen fuel cells in the microgrid market and represents the future of utility power back-up,” said Andy Marsh, CEO of Plug, as quoted in a company press release. “Green hydrogen is uniquely positioned to solve the need for clean long-duration energy storage in at-risk communities like Calistoga that are susceptible to power interruptions. Plug’s fuel cell solutions make it easy for partners like Energy Vault to harness the power of hydrogen fuel cell technology and realize CPUC’s vision of clean microgrid generation.”
Sincerely,
Ian Cooper
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