Aug. 21 at 7:45 PM
What is becoming increasingly interesting with
$PLUG is not just its existing customer base, but the quality of the new projects entering the pipeline. Orica awarded Plug a 50MW project in Australia after FID, Carlton Power adds 55MW across the UK, and Hy2gen selected Plug for a massive 275MW project in Canada. On top of that, the Allied projects could potentially reach several gigawatts and represent billions of dollars in future revenue if fully executed.
Institutional activity is also worth watching. BlackRock recently increased its position to roughly 184M shares, while Mitsubishi UFJ Asset Management and Russell Investments also significantly increased their holdings. Recent filings showed far more institutional buyers than sellers.
That combination is what makes the story compelling: larger industrial projects are moving forward while major investors are increasing exposure.
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