Energy
Structurally unprofitable and competitively disadvantaged with aggressive accounting and a history of giving outlandish targets and then failing to deliver - management has made a big bet on transforming into a vertically integrated hydrogen producer, but their long-term targets, on which street analysts are basing their numbers, appear to depend on highly unrealistic assumptions around costs, the availability of critical materials and competition. Cash burn has accelerated and the company has almost used up the capital it raised during the 2021 bubble. OWS thinks PLUG has a few quarters of liquidity remaining and will probably go bankrupt.
Which fuel cell companies are best positioned to benefit from the Infrastructure Bill?
Report by
Blueshift Research
BL
Plug Power and Ballard Power Systems to benefit the most from The Infrastructure Investment and Jobs Act commitment to hydrogen. PLUG was cited for its industry leadership, strong management, innovation and how its recent acquisitions have expanded its offering across the hydrogen economy. BLDP is well-funded and considered the “big dog” in transportation. Other companies highlighted in Blueshift’s 31-page report include Air Liquide, Anglo American, Caterpillar, Cummins, Hyundai, ITM and Linde. Traditional oil & gas companies will also have a role to play, while Hyzon Motors and Nikola could be M&A targets.
