Latest news with #AlliedGreenAmmonia
Yahoo
7 hours ago
- Business
- Yahoo
Why Plug Power Stock Lit Up Today
Plug Power just announced a new electrolyzer project in Uzbekistan. The company will partner with Australia's Allied Green Ammonia again on a 2-gigawatt, $5.5 billion project. Plug Power is losing money, burning cash, and probably preparing to sell more shares. 10 stocks we like better than Plug Power › Plug Power (NASDAQ: PLUG) stock, maker of hydrogen fuel cells -- and the hydrogen to fuel them, too -- rocketed ahead 26.4% through 3:30 p.m. ET Monday after announcing a "strategic collaboration" in... Uzbekistan, of all places. As the company explained in a press release, it is expanding a partnership with Australia's Allied Green Ammonia to set up a new 2-gigawatt (GW) hydrogen fuel electrolyzer plant, part of "a sustainable fuels project in Uzbekistan." Backed by the Government of Uzbekistan, Plug's electrolyzer technology will be used in a new $5.5 billion green chemical production facility in Uzbekistan to produce "sustainable aviation fuel, green urea, and green diesel." Including work with Allied Green Ammonia in Australia, Plug says the companies' "5 GW partnership now span[s] two continents." Plug does admit, however, that the first 3 gigawatts of this partnership -- the Australian bit -- awaits a final investment decision in the fourth quarter of 2025. And no date has been set for the Uzbekistan side of the partnership. In fact, none of the 5 GW is in operation yet. Meanwhile, Plug Power's growth rate has slowed noticeably. After reporting negative revenue in 2020, the company grew sales to $891 million in 2023, but then tumbled 30% in 2024, to just $629 million. Sales did revive a bit in Q1 2025, up 12% year over year. Still, Plug's losing more than $2 billion per year, and burning nearly $950 million annually. The company's currently trying to win shareholder approval to let it sell more shares to raise cash, and allow it to avoid a dreaded reverse stock split that could make its stock go splat. Success here is anything but certain. Before you buy stock in Plug Power, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Plug Power wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 173% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Plug Power Stock Lit Up Today was originally published by The Motley Fool
Globe and Mail
8 hours ago
- Business
- Globe and Mail
Why Plug Power Stock Lit Up Today
Plug Power (NASDAQ: PLUG) stock, maker of hydrogen fuel cells -- and the hydrogen to fuel them, too -- rocketed ahead 26.4% through 3:30 p.m. ET Monday after announcing a "strategic collaboration" in... Uzbekistan, of all places. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » What's Plug Power up to in Uzbekistan? As the company explained in a press release, it is expanding a partnership with Australia's Allied Green Ammonia to set up a new 2-gigawatt (GW) hydrogen fuel electrolyzer plant, part of "a sustainable fuels project in Uzbekistan." Backed by the Government of Uzbekistan, Plug's electrolyzer technology will be used in a new $5.5 billion green chemical production facility in Uzbekistan to produce "sustainable aviation fuel, green urea, and green diesel." Including work with Allied Green Ammonia in Australia, Plug says the companies' "5 GW partnership now span[s] two continents." Plug does admit, however, that the first 3 gigawatts of this partnership -- the Australian bit -- awaits a final investment decision in the fourth quarter of 2025. And no date has been set for the Uzbekistan side of the partnership. In fact, none of the 5 GW is in operation yet. Is Plug Power stock a buy? Meanwhile, Plug Power's growth rate has slowed noticeably. After reporting negative revenue in 2020, the company grew sales to $891 million in 2023, but then tumbled 30% in 2024, to just $629 million. Sales did revive a bit in Q1 2025, up 12% year over year. Still, Plug's losing more than $2 billion per year, and burning nearly $950 million annually. The company's currently trying to win shareholder approval to let it sell more shares to raise cash, and allow it to avoid a dreaded reverse stock split that could make its stock go splat. Success here is anything but certain. Should you invest $1,000 in Plug Power right now? Before you buy stock in Plug Power, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Plug Power wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor 's total average return is792% — a market-crushing outperformance compared to173%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
