Latest news with #hydrogenEconomy
Globe and Mail
6 days ago
- Business
- Globe and Mail
Plug Power Inc. Reports Strong Q2 2025 Growth
Plug Power Inc ( (PLUG)) has released its Q2 earnings. Here is a breakdown of the information Plug Power Inc presented to its investors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Plug Power Inc., a pioneer in hydrogen solutions, is at the forefront of the hydrogen economy, offering a comprehensive ecosystem for production, storage, delivery, and power generation across various industries. In its latest earnings report for the second quarter of 2025, Plug Power highlighted significant revenue growth and strategic advancements, underscoring its expanding role in the global hydrogen market. The company reported a 21% year-over-year increase in revenue, reaching $174 million, driven by strong demand for its GenDrive fuel cells, GenFuel infrastructure, and GenEco electrolyzer platforms. Notably, the revenue from electrolyzers tripled, reflecting Plug Power's successful global scaling efforts. The company also made substantial improvements in its gross margin, which rose to -31% from -92% the previous year, thanks to cost reductions and improved pricing strategies. Strategically, Plug Power is advancing its Project Quantum Leap, which has been instrumental in optimizing costs and enhancing operational efficiency. The company has consolidated facilities, optimized its workforce, and renegotiated supply contracts to further improve its financial performance. Additionally, Plug Power's GenEco electrolyzer programs are gaining traction globally, with significant deployments across Europe, Australia, and North America, reinforcing its leadership in industrial-scale hydrogen solutions. Looking ahead, Plug Power is poised for continued growth, with expectations to achieve gross margin breakeven by the fourth quarter of 2025. The company is leveraging tax credits and strategic partnerships to enhance its market position and capitalize on the growing demand for hydrogen solutions. As Plug Power continues to expand its hydrogen production network and explore new revenue opportunities, it remains committed to advancing energy independence and decarbonization on a global scale.
Zawya
04-06-2025
- Business
- Zawya
Insights for developing sustainable data centres in Oman
As artificial intelligence becomes central to modern economies, the global surge in high-performance data centres is driving significant increases in electricity consumption and carbon emissions. These digital facilities underpin technological progress but are among the fastest-growing energy consumers globally. With data centres accounting for 2 to 3% of global electricity use, and this figure is expected to climb with the expansion of AI applications, digital twins, and large language models, the need for sustainable infrastructure is more urgent than ever. Oman, with its strategic location in the GCC and abundant renewable energy potential, is well-placed to lead this sustainable digital revolution. Oman Vision 2040 outlines Oman's road map toward a diversified and knowledge-based economy. With vast potential in renewable energy, particularly solar and wind, combined with its advancing hydrogen economy, CCUS (carbon capture, utilisation, and storage) initiatives, and LNG infrastructure, Oman can become a leader in sustainable digital transformation. The country can capitalise on its clean energy ecosystem to host AI infrastructure that is not only energy-efficient but also climate-aligned. Recent efforts by the Ministry of Transport, Communications and Information Technology (MoTCIT), including the establishment of the National Centre for Space, Advanced Technologies, and Artificial Intelligence, reflect a growing commitment to integrate AI across key sectors. Energy is a priority, and integrating AI with energy systems will be essential to ensure efficient, resilient, and scalable data infrastructure. In particular, AI-optimised energy management systems and predictive cooling models can minimise operational costs and reduce carbon emissions. From a technical standpoint, Oman must invest in sustainable thermal management technologies suitable for its arid climate. Innovations such as liquid immersion cooling, thermal energy storage systems, and advanced hybrid air-liquid systems should be piloted. These technologies not only reduce energy consumption but also enhance system reliability under high ambient temperatures. Coupling these with renewable-powered microgrids and smart grid integration can improve grid stability and reduce dependency on fossil fuels. Additionally, research into AI-enabled fault prediction, load balancing, and real-time optimisation of cooling and power systems is crucial for operational efficiency. Strategically, a national R&D lab hosted at Sultan Qaboos University, supported by MoTCIT, industrial zones like Sohar and Duqm, and international technology partners, could serve as a testbed for future-ready data centre solutions. Such a lab would facilitate applied research, prototype demonstration, and the development of localised cooling and hydrogen-based power systems. This initiative would enhance in-country value (ICV), promote workforce development, and support capacity building in AI-energy convergence. Oman must view sustainable data centres as essential to its digital future and climate leadership. Beyond meeting regional digital demand, these centres can become engines for innovation, clean technology commercialisation, and economic diversification. By investing in targeted R&D, smart infrastructure, and public-private collaborations, Oman can position itself as a regional hub for clean energy-powered digital ecosystems aligned with Oman Vision 2040 and global net-zero targets. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
