Nov. 28 at 5:48 PM
$PLUG
After everything FCEL just laid out on the last call, the contrast with PLUG couldn’t be clearer. FCEL and BE are leaning into natural-gas-based fuel cell solutions for AI data centers right now, while PLUG just proved it was really the hydrogen customer, not the competitive producer. When your biggest “green H₂” cheerleader decides it’s better to walk away from building plants and just buy energy instead, that’s an admission: they can’t do it better or cheaper.
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$FCEL /
$BE: NG-fed fuel cells and hybrid systems that can bolt onto today’s grid and data centers, with AI demand as the immediate driver toward profitability.
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$PLUG: Spent years hyping a hydrogen production future, then pivoted out of being a major producer once it became obvious the economics don’t work for them.
AI power is the opportunity, it makes a lot more sense to ride FCEL or BE’s NG-based solutions that can scale now, instead of hoping PLUG someday fixes a hydrogen model it already started walking away from.
