Overview
- Plug Power shares fell 4.09% on Monday to close at $2.11 after a quiet news stretch failed to entice buyers, according to market commentary.
- The company reported successful installation of a 5MW GenEco PEM electrolyzer at Cleanergy Solutions Namibia’s Walvis Bay project.
- The Hydrogen Dune site integrates the electrolyzer with a 5MW solar park and a 5.9 MWh battery system to produce off‑grid green hydrogen for trucks, port and rail equipment, small vessels, and dual‑fuel vehicles.
- Plug Power also disclosed a NASA award to supply roughly 480,000 pounds of hydrogen to the Glenn Research Center and the Neil A. Armstrong Test Facility, with a maximum value near $2.8 million.
- A new analysis highlights ongoing financial pressure, citing a year‑to‑date net loss of $785.6 million on $484.7 million in revenue, recent $370 million raised via warrant exercises, significant share dilution over the past decade, and management targets for positive EBITDA next year and profitability by 2028.