Plug Power Inc. (PLUG) stock prices were up by 7.70% as of the market closing on October 12th 2021. This brought the price per share up to USD$29.78 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 6.75%, bringing it up to USD$31.79.
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Collaboration with Airbus
October 13th, 2021 saw PLUG stock being upgraded from Equal-Weight to Overweight by Morgan Stanley, while Barclays upgraded it from Underweight to Equal-Weight. The company also announced its strategic partnership with Airbus on the same day. The collaboration aims to study the feasibility of bringing green hydrogen to future aircraft and airports worldwide. The company has established itself as the largest buyer of liquid hydrogen globally, with a hydrogen highway having been established across the United States. This includes more than 165 refueling stations that serve to service fleets of hydrogen powered trucks, forklifts, and e-mobility vehicles from industries throughout the nation. The company’s hydrogen fuel cell technology also serves to provide reliable and resilient on-site backup power for businesses and institutions.
PLUG stock has established an ambitious goal of bringing zero emission aircrafts to the market by the year 2035. Airbus has isolated green hydrogen as being on of the most viable options to decarbonize air travel. To this end, the two companies will be working closely on a joint study and roadmap that will deliver green hydrogen to aircraft and the airport ecosystem over the upcoming few years. The company is set to develop deployment scenarios for green hydrogen infrastructure at airports. Meanwhile, Airbus will provide insight on hydrogen aircraft characteristics.
PLUG Stock’s Sustainability Endeavors
The company has already revolutionized the landscape of electric trucks and industrial fleets on the ground. Accordingly, PLUG stock is turning its sight to the skies with its exciting new collaboration with Airbus. Together, the two companies are facilitating the creation of a future where all aircrafts will be powered by green hydrogen, including the airports that serve these aircrafts. This includes ground support equipment, forklifts, and vehicles that shuttle consumers around airports, and to gates.
Future Outlook for PLUG Stock
The company has reported a strong quarter, consolidated by its expansive collaboration with Airbus. The partnership has the potential to revolutionize the aircraft industry, which is hoped to translate into unprecedented growth. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.