Equity research - plug power: macroeconomic context, green technology and valuation

Abstract

Amidst the ongoing global energetic transition in to Net-Zero and the world’s pledge towards a successful achievement of Paris Agreement’s targets, Plug Power emerges as a major player in the new green economy. More specifically, as a relevant provider of hydrogen-based solutions, offering several product lines targeted at mobile and stationary power applications plus material handling equipment. Then, as a potential leader of tomorrow’ssustainableeconomy, we found Plug Power as a very interestingtarget for ourequity research work. The joint report is composed by the following sections: Company Overview, Industry Overview, Forecasting, Value Drivers, Macroeconomic Context, Green Technology and Valuation. In this individual report, three of those sections will be analysed, covering the macroeconomic context around the company’s operations, the effects of the Paris Agreement legal framework on Plug Power’s business model and also the comprehensive valuation process of the company’s common shares.