Management call takeaways: Positive outlook for Ceres SOFC technology adoption and Weichai's manufacturing capacity ramp-up On Nov 20, we hosted Weichai Power's management team, including the company's SOFC business unit lead and the investor relations team, for an investor call to provide more color on Weichai's strategy in the SOFC business as well as its partnership with Ceres Power. Our key takeaways include: Michele Della Vigna, CFA 21 November 2025 | 1:21AM HKT Equity Research WEICHAI POWER (2338.HK/0 ...

Core Insights - Polen Capital's "Polen U.S. Small Cap Growth Strategy" achieved a gross return of 21.4% and a net return of 21.1% in Q3 2025, outperforming the Russell 2000 Growth Index which returned 12.2% [1] - Bloom Energy Corporation (NYSE:BE) was highlighted as a top contributor to the portfolio's performance, with a one-month return of 7.40% and a remarkable 355.01% increase in share value over the past 52 weeks [2][3] Company Performance - Bloom Energy reported Q3 2025 revenue of $519 million, reflecting a 57% year-over-year increase [4] - The company's stock closed at $108.93 on November 19, 2025, with a market capitalization of $25.763 billion [2] Strategic Developments - Bloom Energy's solid oxide fuel cells are positioned to meet the growing power demands of AI data centers, addressing challenges related to power grid limitations [3] - A significant partnership with Oracle was announced to provide onsite power to select data centers, which has attracted investor interest and led to analyst earnings revisions [3]

Core Viewpoint - Plug Power Inc. has announced the pricing of $375 million in 6.75% Convertible Senior Notes due 2033, with expected net proceeds of approximately $347.2 million, aimed at repaying existing debt and repurchasing convertible notes [1][2][3] Group 1: Offering Details - The notes are priced at 95% of their principal amount and are being offered to qualified institutional buyers under Rule 144A [2][7] - The offering is expected to close on November 21, 2025, subject to customary closing conditions [1] - An additional option for initial purchasers to buy up to $56.25 million in notes is available [1] Group 2: Use of Proceeds - Approximately $245.6 million of the net proceeds will be used to repay the outstanding principal and interest on 15.00% secured debentures [2] - About $101.6 million of the net proceeds, along with $52.4 million in cash on hand, will be used to repurchase approximately $138 million of 7.00% convertible senior notes due 2026 [2][6] Group 3: Notes Structure - The notes will be general unsecured obligations, ranking senior to future subordinated debts and equal to existing liabilities [3] - Interest on the notes will be paid semi-annually at a rate of 6.75%, starting June 1, 2026, with maturity on December 1, 2033 [3][4] - The notes cannot be redeemed before December 6, 2028, and holders can require repurchase on December 6, 2029 [4][5] Group 4: Conversion and Settlement - The notes will be convertible starting February 28, 2026, at an initial conversion rate of 333.3333 shares per $1,000 principal amount, equating to a conversion price of approximately $3.00 per share [5] - Conversions will be settled in cash, shares, or a combination, with cash settlement until the reserved share effective date [5] Group 5: Market Impact - The repurchase of the 2026 notes may lead to market activities that could affect the stock price of Plug Power [7] - The notes are not registered under the Securities Act and cannot be sold in the U.S. without an exemption [7]

SLINGERLANDS, N.Y., Nov. 18, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (“Plug Power”) (NASDAQ: PLUG) today announced its intention to offer, subject to market conditions and other factors, $375 million aggregate principal amount of Convertible Senior Notes due 2033 (the “notes”) in a private offering (the “offering”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Plug Power also expects to grant the initial purchaser of the notes a ...

Key Points Bloom Energy produces solid oxide fuel systems for on-site power. Bloom inked a $5 billion strategic partnership with Brookfield. The company has seen four straight quarters of increased sales. 10 stocks we like better than Bloom Energy › Bloom Energy (NYSE: BE) is on the frontlines of a potentially disruptive technology in the energy sector: solid oxide fuel cell systems, or "energy servers," as Bloom names them. These fuel cells turn fuel, like natural gas and hydrogen, into electric ...

Core Insights - Bloom Energy's share price has increased over 5x in the last six months, transitioning from a specialized fuel-cell company to a key player in the clean-energy sector [2] - The company reported a revenue of US$519.0 million for Q3 2025, a 57.1% increase from US$330.4 million in the same quarter the previous year [5] - A significant partnership with Brookfield Asset Management involves a US$5 billion commitment to implement Bloom's fuel-cell technology in AI data centers, enhancing investor confidence [5] Financial Performance - Gross margin improved to 29.2% from 23.8% year-over-year, while non-GAAP operating income rose to US$46.2 million from US$8.1 million [5] - Bloom Energy aims for revenue between US$1.5–US$1.8 billion, with analysts projecting potential annual revenue exceeding US$3 billion in the coming years [7] - Management targets gross margins of 25–30% at full manufacturing maturity, with a conservative operating margin scenario suggesting approximately US$450 million in operating profit at US$3 billion revenue [8] Market Valuation - Bloom Energy's current market cap is around US$24–25 billion, with a share price of approximately US$103, reflecting a valuation based on future economics rather than historical performance [7] - Clean-energy growth companies typically trade at 20–30x earnings during expansion, indicating a potential earnings-based valuation of US$9 billion from core operations alone [8] - An optimistic scenario, factoring in hydrogen projects and other growth opportunities, could lead to a total valuation of US$30–35 billion, suggesting a further stock price upside of 25–45% [8] Future Outlook - The company's future growth is contingent on execution, with high growth expectations already priced in, indicating a tighter margin for error [10] - The market's perception of Bloom Energy has shifted from a speculative venture to a potential cornerstone of reliable clean energy, particularly for data centers and hydrogen infrastructure [10]

Company Overview - Bloom Energy (BE) is a clean-energy and fuel-cell provider that designs, manufactures, and installs solid-oxide fuel cell (SOFC) systems for onsite electricity generation, converting fuels like natural gas, biogas, and hydrogen into electricity with high efficiency and low emissions compared to traditional generators [1] AI Energy Demand - The AI revolution faces significant challenges due to the lack of consistent, clean, and sufficient energy, as AI data centers require immense energy to operate high-performance computers for training AI models [2] - Energy demand from AI is expected to surge, and Bloom Energy provides data centers with reliable, clean, onsite energy solutions, positioning itself as a momentum leader in this space [4] Market Dynamics - Soaring energy consumption in data centers is likely to create backlash for AI companies as US household electricity prices rise, which is a bullish trend for Bloom Energy, allowing tech companies to generate power onsite and reduce reliance on the overworked US electric grid [6] - Bloom Energy has demonstrated strong performance by exceeding Zacks Consensus Analyst Estimates by an average of 88.25% over the past four quarters, showcasing its role in the AI revolution by selling essential energy solutions [7][8] Stock Performance - After a significant rise of 7x in 2025, BE shares are retreating to the 50-day moving average for the first time this year, presenting a favorable reward-to-risk opportunity for investors [9] Conclusion - As the AI revolution accelerates, energy demand presents both challenges and opportunities, with Bloom Energy's innovative fuel cell technology addressing this critical bottleneck [11]

Having the most experienced and most durable reliable products with the lowest demonstrated total cost of ownership sets us apart. We are also ready for the next generation of buses At Bus World, we launched the FC Move SC, and initial feedback from OEMs has been very positive. Customers recognize the potential benefits of higher power density simpler and more integrated functionality a smaller lighter footprint and higher operating temperatures. These are all features that lower their total cost of ownersh ...

We recently published Market Beaters: 10 Stocks Defying the Odds. Plug Power Inc. (NASDAQ:PLUG) is one of the best-performing stocks on Wednesday. Plug Power bounced back from a two-day loss on Wednesday, surging 7.91 percent to close at $2.73 apiece as investors took heart from a strong demand for its fuel cell business. This followed the company’s earnings release on Wednesday, where it announced a 1.9 percent revenue growth to $177 million from $173.7 million in the same period last year. Plug Power ...

Accessibility StatementSkip Navigation VANCOUVER, BC, Nov. 13, 2025 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced consolidated financial results for the third quarter ended September 30, 2025. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS). Highlights "Overall, we had a positive quarter, with year-over-year gains in revenue, gross margin expansion, significant progress i ...