Shares of Plug Power rose 9% to close at $30 in Nasdaq trading on Thursday. It vests in full after Amazon spends $2.1 billion on Plug products over the seven-year term of the deal. It believes “scaling the supply and demand for green hydrogen, such as through this agreement with Plug Power, will play a key role in helping us achieve our goals,” Kara Hurst, Amazon’s vice president of sustainability at Amazon, said in a statement.Īs part of the deal, Plug granted Amazon a warrant to acquire up to 16 million shares, with an exercise price of $22.98 for the first 9 million. compared to the investment in railroads in the 19th century or to the creation. By 2028, it hopes to produce 1,000 tons of hydrogen per day.Īmazon said the deal is part of efforts to achieve net-zero carbon emissions across all its operations by 2040. Plug Power, a Latham, NY, based manufacturer of stationary hydrogen fuel. Plug has said it will be able to make 500 tons of green hydrogen per day at facilities in North America by 2025, up from a goal of 70 tons per day by the end of this year. The fuel cabinets provide storage for multiple standard. Comprehensive GenFuel hydrogen storage enables customers to house fuel on site, maintaining a constant fuel supply as needed for the GenSure hydrogen backup power fuel cell systems. The company aims to expand its hydrogen fuel supply business and is adding production capacity to do that. Plug offers its GenFuel hydrogen services to stationary power customers using the GenSure fuel cell systems. Plug Power Market Cap 4B Today's Change () Current Price 6.53 Though both face risks, one of the two fuel cell stocks looks more promising than the other. Plug, which will benefit from that credit, has sold Amazon fuel cells for its warehouse forklifts since 2016, and estimates it’s provided more than 15,000 units to date. Plug fell 5.2% to close at $14.42 in Nasdaq trading while Nikola rose less than 1% to $2.13.A Plug Power electrolyzer unit for producing carbon-free hydrogen. The company’s hydrogen fuel cell solutions are used to power electric motors. The news didn’t help shares of either company amid a broad market selloff on Thursday. is a hydrogen fuel cell company that is focused on providing hydrogen fuel cell turnkey solutions. One observer estimated that, based on the video Tesla shared of its Semis in action, they may only be able to carry about half as much cargo as a conventional truck.

This month, Elon Musk showed off the first production versions, purchased by Frito-Lay, without disclosing how much the trucks cost as well as their weight and hauling capability relative to diesel-powered semis. The latter may turn out to be crucial issues as the practicality of electric trucks like Tesla’s new Semi remain unproven. For example, while Nikola’s Tre battery-electric semi can haul cargo up to 330 miles, the fuel cell version is designed to go up to 500 miles per fueling.

That’s because a fuel cell power system is not as heavy as the massive batteries required for big rigs and it can be refueled in about the same amount of time as a diesel truck. Though hydrogen is a less energy-efficient option for powering a vehicle compared with charging up a battery, Nikola and other companies that are developing hydrogen trucks say it’s a more practical option for long-haul heavy trucks. Plug Power Inc (NASDAQ: PLUG) and FuelCell Energy Inc (NASDAQ: FCEL) are leaders in the clean energy manufacturing industry, but how have investors in the popular-again hydrogen fuel cell systems. Our customers have completed more than 50 million hydrogen fills into Plug’s fuel cells. Plug Powers hydrogen fuel cells find varying applications. We are the industry leader constructing high-availability hydrogen stations. Among other things, it includes a production tax credit for clean hydrogen that provides up to $3 per kilogram of the fuel, which helps to make it more competitive with diesel. Besides, both Plug Power (PLUG-3.03) and ChargePoint Holdings (CHPT-5.10) will need a lot more than sectoral tailwinds to succeed.

Both companies expect to benefit from incentives for hydrogen created with the Inflation Reduction Act signed into law this year by President Joe Biden.

Plug power vs fuel cell