If you’re interested in investing in clean energy, you should consider Plug Power Inc. This American company is developing hydrogen fuel cell systems that replace conventional batteries in vehicles and equipment. They have facilities in Rochester, New York, and Spokane, Washington. The company has been around since the early 1990s, and their technology is helping the world become more energy efficient.
Currently, Plug Power is raising capital to fund its aggressive buildout plan. It has formed partnerships with major industry players, but it still has to prove its profitability. Its primary focus is manufacturing fuel cells for forklifts, but it has ambitions to develop the technology for other industries. In the meantime, it’s worth noting that it’s not expected to pay a dividend within the next 12 months.
In addition to producing hydrogen fuel cells, the company also sells material handling and power backup systems. Its shares declined 12% last week, underperforming the S&P 500. This has prompted some investors to pull out of the company. However, the stock’s beta is higher than the market average. That means that investing in Plug Power could yield market beating returns. If you’re interested in investing in this stock, keep in mind that its shares could experience more volatility in the future.
While analysts generally push Plug Power stock lower, recent news has caused investors to view the company’s decline as an opportunity to buy. This has given growth investors an opportunity to take advantage of a cheap stock. This is also good news for those looking to invest in the future of green energy. The recent announcement from Plug Power management about a hydrogen train in Europe is a big boost for renewable energy investors.