Plug Power CEO, Andy Marsh: Getting the Facts Straight
By Andy Marsh, CEO, Plug Power
I would like to highlight a few items:
- For the first three quarters of 2018, we have exceeded the guidance Plug Power provided; and on October 16, 2018, we even increased our guidance for the remainder of the year.
2. The company has had excellent performance in 2018 servicing our largest customers during peak seasons. The products are delivering the promised performance, and we will continue to expand with these customers. This is how well we are performing: some of our customers have never shipped this level of products out of their distribution centers, and have told us that it would not have been possible without Plug Power fuel cells.
3. During the past months, we have had many visitors from the transportation industry. I had a visitor yesterday who told me he had met almost every company in the industry, and none have the breadth of products, knowledge and capabilities as Plug Power. This is known fact within the fuel cell industry, and we are committing to continue to tell this story in 2019.
4. Paul will provide a blog today on our financial strengths.
5. I can’t wait for the January 9, 2019 update call to discuss 2018 performance and our vision for 2019. Given our excitement about our business, we have moved this call up a month, from the normally-scheduled call that takes place in February. We want to counter the misinformation and incorrect statements circulating in the market place. Plus, we want to tell investors about the upcoming plans for 2019.
6. From a market perspective, McKinsey expects hydrogen will provide 18% of the global energy by 2050. This report was commissioned by the Hydrogen Council, driven by 50 fuel cell industry CEOs like Air Liquide, Toyota, Shell Oil, BMW and Cummins. Many have visited us at Plug Power and our customer locations to discuss strategies to accelerate industry adoption.
7. Because we are a public company, management and the Board of Directors (BOD) are blocked to buy shares. I will buy when allowed after January 9th, and I know other board members and managers feel the same. As one BOD member said, “this stock is too cheap to pass up.”