![]() When it comes to the company's stock performance, it has experienced many intense fluctuations during the past year going from around $30 to $12, back to $30, and then back to $12 again, where it is currently trading at. The company's technology is aimed at providing a clean, efficient, and reliable source of power for commercial and industrial customers. The technology is already in place to start the “RNG Revolution.Plug Power ( NASDAQ: PLUG), is a publicly-traded company that designs and manufactures hydrogen fuel cell systems for use in a variety of applications, including material handling equipment, forklifts, and airport ground support vehicles. The organic waste is a limitless, 24 hour a day product that is presently polluting our ground water. After processing the organic waste to produce RNG, the waste can be used as a soil builder rather than running off and contaminating the ground water. RNG can also be used to produced Green Hydrogen because every molecule of methane captured with RNG is one less molecule of methane released to the atmosphere. RNG is a Renewable Hydrocarbon that does not rely on the use of electricity. It is not possible for wind, solar, and hydro to replace this energy need with Renewable Electricity. 80% of energy needs are produced by fossil fuels. This biogas is processed into RNG which is chemically identical to fossil natural gas and can be used as a “drop in” fuel for fossil natural gas in heating, cooking, transportation, or any other use of natural gas. A “non-fossil” fuel, RNG is produced from captured biogas released by organic waste. You have not mentioned Renewable Natural Gas. Vote here for our GH2 poll, your opinion matters – What do you think is the BIGGEST problem stopping the world from using more green hydrogen? Should everything proceed as Plug Power predicts, its green hydrogen plants will be producing 500 tons of H2 fuel per day by the close of 2025. Moreover, Plug Power also aims to be a leading electrolyzer seller for customers seeking to produce their own zero-emission fuel. Marsh is aiming to make Plug Power, based in Latham, New York, not only a leading renewable H2 producer, but also a manufacturer of fuel cell equipment, such as for specialized shipping tankers that will transport the clean fuel to its customers worldwide. Plug Power is showing that the use of electrolyzers to produce green hydrogen is highly promising, to the point that it is already shaking up the clean energy world. That said, by changing from that “gray” H2 and choosing blue (made with natural gas but with carbon capture and storage technology in place) and green (made with water electrolysis powered by renewable energy such as solar or wind), the global energy industry can profoundly decarbonize. Moreover, the emissions from those processes are unabated, meaning that while the H2 itself can be used for zero-emission operations, the production of that fuel is still highly polluting. ![]() Green hydrogen made by electrolyzing water powered by renewable electricity is expected to take off.Ĭurrently, the vast majority of H2 is produced using processes using fossil fuels. On a worldwide scale, Plug Power expects that the renewable H2 market will grow by $10 trillion in coming years. After the end of next year, it expects to be solidly and consistently profitable. This is because the company is making its way out of being a green hydrogen customer and is becoming a producer and seller of the renewable fuel. Beyond that, it predicts that by late next year, its operating income will be into the black. Moreover, by the end of the decade, it predicts that the figure will have breached the $20 billion mark, said the Forbes report. Plug Power is heavily invested in scaling up the sale of both green hydrogen and fuel cell technology.Īs the company continues scaling up its H2 and H2 production tech, it expects to see an increase from $900 million in sales this year to $5 billion in sales in 2026. That way, it will not only supply the fuel cells its customers need for zero-emission operations but will also be able to supply the H2 fuel itself. Marsh’s goal for the company is also to become a top renewable H2 producer. Instead, the company is focused on the production of fuel cells for zero-emission forklifts and for stationary power generators. While many of the largest green hydrogen projects are focused on transportation – the aviation industry, cargo ships, rail, buses, and long-haul trucks, for instance – Plug Power is taking a different direction under Marsh, who has been its head for the last 14 years. Video can’t be loaded because JavaScript is disabled: CEO Andy Marsh at the Reuters Hydrogen North America ()
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