Boston, MA 03/06/2014 (wallstreetpr) – Plug Power Inc (NASDAQ:PLUG) provides fuel cell systems used in among other places, industrial off-road machines. The company designs, manufactures and commercializes alternative energy technology. Since going public in 1999, the company has witnessed ups and downs – mostly downs. However, we are looking at a company that is now having its fortunes changing very fast.
Plug Power Inc (NASDAQ:PLUG) was last seen trading a share at $6.75, having gained almost 1 percent in Wednesday session. That was preceded by a gain of 15 percent on Tuesday. Generally the stock is in an electrified run and it has gained more than 4,700 percent from its one-year low level of 15 cents.
Eye-opener deal
The company’s turning point that has powered the stock and all other stocks in the alternative energy systems industry is its recent deal with Wal-Mart Stores, Inc. (NYSE:WMT).
Plug Power Inc (NASDAQ:PLUG) inked a contract with the giant retailer for which it will supply fuel cell to about six sites of Wal-Mart. The fuel cells will be used to power industrial forklifts numbering about 1,700. Now, the excitement is not just about that deal, but the prospects that the company and its peers have.
There is a feeling that many business leaders are beginning to fast understand the benefit of using fuel cell technology to power industrial off-road machines. Some of the benefits that are enticing businesses to this energy solution include efficiency, durability and cost-effective nature of the technology. Moreover, fuel cell energy is also environmentally friendly and it makes compliance with clean environment regulations easy and cheap.
Investor betting on clean energy
Clean energy is currently a buzzword. It has of late become clearer that it is actually possible to power industrial equipments like fork-lifters using fuel cell. And that the benefits go beyond just satisfying clean environment laws, but also lead to significant cost cuts. Investors are therefore more than convinced that fuel cell stocks have their best time ahead of the road.
Look at how electric vehicles manufacturing industry is promising to take the demand for fuel cell to the next level. So then, Wal-Mart Stores, Inc (NYSE:WMT) has just kicked off something that is going to be seen replaying across industries. And Plug Power Inc (NASDAQ:PLUG) and its peers are there to turn everything into profits for investors.
