Power Surge in Fuel Cell Stocks Focus of Today's 'Tech Check' Radio With CIBC Analyst Hugh Holman and Gary Mittleman, CEO of Plug Power
March 22, 2000 7:30 AM EST
SACRAMENTO, Calif., March 22 /PRNewswire/ -- With gas prices rising faster than the Fed Funds rate, Wall Street has discovered fuel cell companies. Developments in this nascent, but potentially enormous industry will almost certainly have major effects on both the transportation and power generation industries.
To get the inside scoop on what is powering the surge in the fuel cell-related stocks, catch analyst Hugh Holman of CIBC World Markets and Gary Mittleman, CEO of Plug Power (Nasdaq: PLUG), on Wednesday's "Tech Check" Radio program produced by InformedInvestors.com. Hear the show digitally at 1 p.m. EST at www.informedinvestors.com or broadcast.com, and on-air at WALE 990 AM in Providence, RI. Listeners may send real-time questions via email during the show to cohost Tim Quast at tim@informedinvestors.com.
Plug Power, a spinoff from Mechanical Technology (Nasdaq: MKTY), went public in October 1999 at $15 a share. It has since soared and reached $156 a share earlier this year. Mechanical Technology retains a 32% stake in Plug Power.
Plug Power's fuel cells are energy machines for homes. Its refrigerator-sized fuel cell system runs on natural gas or propane and provides enough electricity for an entire home. According to the company, its fuel cells will save consumers money and help clean up the environment while providing outage-free electricity. The company's mission is to be the first fuel cell developer to make and sell one million systems. Plug Power has a joint venture with General Electric (NYSE: GE) in GE Fuel Cell Systems, LLC which will market, sell, service, and install Plug Power's product.
Holman covers the power technology sector for CIBC World Markets and covers Plug Power and Mechanical Technology. He'll offer opinions on other companies with strong franchises in fuel cell technology including Ballard Power Systems (Nasdaq: BLDP) and FuelCell Technology (Amex: FCL). Each hit new highs this year |
