New York State’s investment in Plug Power, a hydrogen fuel cell manufacturer, represents a significant risk, experts warn. The company, focused on developing a cleaner alternative to conventional batteries, has relied on external support to maintain liquidity while waiting for its products to gain mainstream acceptance.
Despite recent positive developments, including the commencement of liquid hydrogen production in Georgia and a potential $1.6 billion loan from the U.S. Department of Energy, the company’s future remains precarious.
Concerns have been raised about the state’s ongoing financial commitment to Plug Power, especially if the company fails to deliver the promised economic benefits.
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