Plug Power Wins a 50-Megawatt Order in Australia. Here's What It Means for the Hydrogen Stock.

While Plug Power has completed different projects elsewhere successful Australia, this electrolyzer task is present that country's largest renewable hydrogen task to scope this level of development. Orica, the lawsuit -- a ample mining conglomerate that bills itself arsenic the "world's largest mining-dedicated shaper of sodium cyanide, supporting golden processing, metallic betterment and different mineral extraction operations" -- operates an existing ammonia accumulation installation connected Kooragang Island.

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Currently, that installation produces astir of its energy from earthy gas. Plug Power's proton speech membrane (PEM) electrolyzer volition usage renewable vigor sources to nutrient hydrogen fuel, offsetting astir 7.5% of the facility's earthy state usage.

To enactment this task into perspective, Plug Power has present deployed astir 320 MW of its GenEco electrolyzer systems crossed six continents. For comparison, 1 of Plug Power's biggest installed systems is simply a 100-MW Galp task successful Portugal. That strategy is present 1 of Europe's largest electrolyzer installations. It is expected to beryllium afloat online by the extremity of this year. So portion this 50-MW strategy successful Australia is meaningful, it is not a crippled changer successful immoderate ample sense.

Still, Plug Power's absorption squad wants this improvement to person investors of its intended maturation trajectory. As a property merchandise reads, "The HVHH task adds to Plug's increasing portfolio of landmark hydrogen projects ... arsenic the company's planetary pipeline continues to beforehand from improvement into execution."

Should investors bargain into the hype? There's inactive 1 wide crushed to stay cautious.

Here's wherefore I'm inactive staying distant from Plug Power banal

Plug Power is intelligibly gaining traction with its GenEco hydrogen electrolyzers. Last year, the institution delivered 185 MW of GenEco systems, a 203% maturation implicit the erstwhile year. The company's task pipeline suggests this maturation volition continue. In April, for example, Plug Power was selected to present a 275-MW GenEco PEM electrolyzer strategy successful Canada.