Plug Power Tested a Backup Power System With Microsoft. Here's Why the CEO Says That's Not a Real Pivot Yet.
Plug Power's collaboration with Microsoft to explore hydrogen fuel cell technology opens up a new market opportunity, but it doesn't represent a strategic shift for the company.
Overview
Plug Power (NASDAQ: PLUG) recently tested a backup power system in collaboration with Microsoft. The move comes amid hyperscalers' ever-increasing appetite for energy, and tech giants are exploring every possible avenue -- from gas turbines to hydrogen fuel cells -- to meet their energy needs.
CEO Jose Luis Crespo told investors this venture doesn't signal a fundamental shift in the company's strategy. Instead, Plug Power continues to focus on its core operations while reeling in expenses as it looks to become profitable.
Details
Here's what investors need to know about Plug Power and where things could go from here.
Source
Originally published at www.fool.com.