We're an integrator, but the cost of stacks were too high, so we had to figure that out.Īnd our whole business was eventually we got to the point in 2020 where we took a gamble. And so we ended up making our own stacks. We became the largest user of liquid hydrogen not only in the U.S., but the world.īut along the way, we were forced to become vertically integrated.
Plug power message board how to#
So by necessity, James, and a lot of what Plug has done, it's been by necessity than finding businesses elsewhere I was kind of reading this morning how Tesla maybe a $5 billion business for the charging stations annually and Plug's a lot the same where we ended up learning how to build. We don't want to deal with outside service groups. We ended up doing some deployments and they finally said to me, if you want to do this, you have to provide everything because we don't want a deal with the industrial gas companies. but it's kind of like how people think about mobility today.įuel cells and forklift trucks allow them to fast fuel, longer range, but really the most important item was they were able to move goods a lot faster, about 8% faster and Walmart kind of thought through that. I'll probably will say I had that insight. But when I write my book, it'll be a little bit different.
And really interesting when I think about, I did not know this in 2008. And I walked in a Walmart distribution center where there were five units.Īnd Walmart said to me, this could help improve the productivity. And I spent the first 90, 120 days of my time at Plug trying to find anybody, who is interested in putting fuel cells anywhere. I was hired in 2008 when we had about $1 million of commercial revenue and no market.
15 years, I never thought, I'd be doing it 15 years and Plug's been around for 25 years. Andy, maybe we can just start off with kind of the origin story of Plug since you've been there to where you are now, which is a much more robust company, the missions, the goals, and the key priorities over the next couple of years? Lots of stuff that Andy's - and his team and his impressive team that he's built around him working on.Īnd so Andy, thanks for joining me today.Īnd so, you know, the world's going through a major transition as we talked about in the keynote. Plug Power created the first commercially viable market for hydrogen fuel cell technology and as a result, the company has deployed over 60,000 fuel cell systems for E-Mobility more than anyone else in the world and has become the largest buyer of liquid hydrogen having built and operated a hydrogen highway across North America, and Plug is built in a state-of-the-art gig or has built a state-of-the-art Gigafactory to produce electrolyzers and fuel cells and multiple green hydrogen production plants that will yield some 500 tons of liquid green hydrogen daily by 2025.
In fact, Plug is building an end-to-end green hydrogen ecosystem them from producers - or production storage and delivery to energy generation. Plug Power, we see as a company on a mission, this is certainly not the old fuel cell manufacturer. Up next, we have Andy Marsh, the President and CEO of Plug Power. So, stay tuned for what's going to happen there. Hopefully, everybody enjoyed this morning's keynote with Jim Coulter and David Crane, a lot of interesting material there, a lot of stuff going on, of course, with TBG Rise and certainly, a lot of stuff going on and about to go on with the DOE. ( NASDAQ: PLUG) Evercore ISI Global Clean Energy & Transition Technologies Summit Conference J9:00 AM ET
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