Nov. 27 at 2:44 PM
$FCEL has been temporarily negative while it’s in a ATM cash-raising phase, but that’s just to fund the ramp for the next wave of AI-driven business that’s already taking shape. That kind of ATM burn won’t be needed at the same pace once those projects are online.
$BE is a few years ahead of
$FCEL in building out capacity, which is exactly what set up the run
$BE is having right now—and it’s the same setup
$FCEL is about to enjoy as next year pans out.
Meanwhile,
$PLUG is still trying to create demand—offering great prices based on project cost assumptions that keep failing in a hydrogen market that isn’t really there yet.
$BE and
$FCEL can fuel AI data centers profitably off natural gas today, a lane
$PLUG simply doesn’t have.
