On Thursday May 29, I attended a panel about fuel cells at the Cowen Conference. Andy Marsh, Plug Power CEO, presented. The other panelists represented Ballard, Fuel Cell Energy, and Hydrogenics.
Here are the main key points I noted from Andy's comments:
- Total Global Market for PLUG is $30 billion annually.
- The addressable market (now) is $10 billion annually.
- PLUG expects revenues of $500 million in 2018.
- It is working on accelerating the full ownership date of Hypulsion.
- From what I could gather it appears the company is working with Honda in Europe. Honda could be a new forklift customer.
- All of the panelists were extremely bullish on the overall Hydrogen market because it is such a small segment of the energy market currently with so many potential applications.
Written by Michael Bigger.