Plug Power’s Hydrogen Comeback: Why PLUG Stock Skyrocketed 226% – and What’s Next
Business Model and Market Position Plug Power’s business model centers on building a full “hydrogen ecosystem” – from hydrogen production and storage to fuel cell power generation for end-users investing.com. The company pioneered the use of hydrogen fuel cell systems in material handling equipment (like forklifts), effectively replacing traditional lead-acid batteries in warehouse forklifts and industrial trucks finviz.com. Its flagship GenDrive fuel cells and GenFuel hydrogen storage/fueling units are used by major customers such as Walmart, Amazon, Home Depot, BMW, and BP investing.com. Today, Plug Power positions itself as a “one-stop” hydrogen solutions provider. It has deployed over 72,000 fuel