![]() Since Plug’s “focus from the start has been on green ”, the company is “well-positioned” to take advantage of the PTC, Middleton says. While Marsh anticipates a quarter of this year’s revenue to come from Europe, policy support in the US such as the Bipartisan Infrastructure Law and, in particular, the Inflation Reduction Act’s clean hydrogen production tax credits (PTC), “puts America to be the leader, unmatched globally”. ![]() ![]() Plug Power to invest $365m in Korean gigafactory as part of previously announced joint venture Subsidies due to come into force in Europe and the US this year are another reason for Plug’s bullishness. “To support our growth, we have built a strong differentiated platform that will enable us to meet our targets, including a broad foundation of technologies that enabled early adoption, deep relationships with multiple industry leaders across many sectors, new investments that are expanding our geographic and industry footprints, and a strong cost discipline that continues to drive down the total cost of ownership,” said Plug chief financial officer Paul Middleton. The company expects about $780m of revenue from the sales of electrolysers, liquefaction equipment and hydrogen fuel, with about $620m coming from H 2 applications such as its traditional business in fuel cells for forklifts, new stationary power generators, and an expansion into vans and trucks through its joint venture with Renault, Hyvia. ![]() Simpler regulatory ride? | Plug Power plans three green hydrogen plants in Finland totalling 2.2GW ![]()
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