11/4/2023 0 Comments Plug power stock 5 year forecastI think that Plug Power is one of the best plays in the hydrogen space. I think that Plug Power ( NASDAQ: PLUG) is a good long-term hydrogen stock pick and this article aims to explain why. Which stock should investors pick if they are interested in investing in the hydrogen economy? I think one thing that I am seeing more these days is the acceptance of the fact that we do need green hydrogen in order to achieve our climate goals and for the governments around the world to achieve their net zero ambitions.Īs a result of sectors with emissions that are hard to eliminate, governments around the world are increasingly positive on the need for green hydrogen and thus, governments in countries all around the world like the United States, EU and many other countries are investing large amounts of money into green hydrogen. This idea was discussed in more depth with members of my private investing community, Outperforming the Market.Management reiterated that they continue to expect to achieve $1.4 billion in revenue for 2023, implying 65% growth rate and they expect to end 2023 with breakeven operating margin run rate.Plug Power plans to secure four new pedestal customers, with three in the United States and one in Europe, and also increase the new pedestal customer sites by more than 50 in 2023.The company continues to have a strong electrolyzer backlog of 1.5GW and its sales funnel is more than $25 billion.With more green hydrogen plants coming online, Plug Power can generate hydrogen at one-third the cost that they are paying industrial gas companies today, significantly improving its margin profile.Plug Power expects to scale up green hydrogen generation capacity to 200 tons per day by end 2023, making it the largest producer of liquid hydrogen in the world.
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