Bloomberg Talks Plug Power CEO Talks Hydrogen Power Market
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Aug 18, 2025 In a captivating discussion, Andy Marsh, CEO of Plug Power and an innovator in hydrogen fuel cell solutions, dives into the burgeoning hydrogen power market. He covers the company's impressive earnings and advancements in profitability, highlighting the surging demand for hydrogen energy in the U.S. Marsh also details the significant $1.6 billion loan guarantee aimed at developing hydrogen plants, showcasing the vital role of green hydrogen in future energy strategies and national security.
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Incentives Have Strengthened
- Andy Marsh says incentives for hydrogen and fuel cells are stronger now and globally robust.
- He cites improved tax credits (48E) and tripling electrolyzer revenue in Europe as evidence.
Clear Path To Profitability
- Plug Power improved gross margins by over 60% year-over-year and targets gross margin zero by Q4.
- The company expects to be EBITDA positive by end of next year via cost focus and Project Quantum Leap.
U.S. Demand Is Growing But Lags Europe
- U.S. green hydrogen adoption is slower than Europe but Plug Power operates the largest liquid green hydrogen plant in Georgia.
- Company usage is projected to rise from 55 to 67 tons per day by year-end.