Plug Power USA similarities4 Mar 2021 16:58
£15 billion market cap
200 million turnover (yes that's all currently)
huge losses
Plug Power's GenDrive system integrates fuel cells manufactured by both Plug Power and Ballard Power Systems and incorporates a hydrogen storage system that allows the system to "recharge" in a matter of minutes as opposed to several hours for lead-acid batteries. It allows hydrogen-powered forklifts to run at a constant steady power compared to conventional batteries, which experience "droop" in their output towards the end of a shift. GenDrive units occupy the same space designed for conventional batteries.
In February 2020, the company introduced 125 kW Progen fuel cell engines for class 6, 7 & 8 trucks and heavy duty off-road equipment.[4] In January 2021, SK Group, a major South Korean company, announced to invest $1.5 billion in Plug Power for around 10% share. They will form a joint venture company in South Korea to supply hydrogen fuel cell products to Asian markets.[5]
In January 2021, the company signed a memorandum of understanding with French automobile manufacturer Renault. The deal would launch a joint venture in France by the end of June 2021
I can really see AFC going this way