Cash Flow ConcernsFree cash flow of -$152m was lower than consensus and lower than the company's own preview earlier this quarter.
Regulatory ChallengesThe House Ways and Means Committee shared details from a draft tax cut proposal which would eliminate the 45V tax credit for clean hydrogen facilities, posing long-term challenges for green hydrogen projects in the US.
Tax Credit UncertaintyProposed rules terminate the 45V clean hydrogen production credit for facilities that begin construction after December 31, 2025, requiring Plug Power to accelerate spending for future projects.