Tomahawk, WI 04/03/2014 (Basicsmedia) – Plug Power Inc (NASDAQ:PLUG) may be hoping to hit the big time again like it did back during the dot com boom days of 2000 when it was trading at an unbelievable $1,500 level. The stock has made huge gains in recent times: it was trading at $0.175 one year ago and has gained more than 4,000% in the one year since April 3, 2013. The stock has gained more than 1,000% in the six months since October 2013.

But the bottom-line still remains that it lost 99.9% of its peak dot com-fueled price. Now it’s seeing a speculative frenzy which will come to no good.

Plug Buys ReliOn

It has now acquired fuel-cell stack making company ReliOn Inc for about $4 million in an all-stock deal. This is good for Plug Power as now Plug will have its own fuel cell stack technology rather than depending on Ballard Power Systems Inc. (USA) (NASDAQ:BLDP). At present, Ballard Power is the sole supplier of fuel cell stacks to Plug Power in North America and part of Europe. Ballard stock is predictably in negative territory.

ReliOn’s customers include telecom giants AT&T Inc. (NYSE:T), Sprint Corporation (NYSE:S) and Verizon Communications Inc. (NYSE:VZ) to whom ReliOn provides backup power supply for their mobile towers. Plug Power will get 34 U.S. fuel cell patents via this deal with ReliOn and Plug’s total patent portfolio will grow close to 200 in areas related to fuel cell designs.

A Big Hug from Wal-Mart

Wal-Mart Stores, Inc. (NYSE:WMT)  has bought 1,738 GenDrive fuel cells. How much does $50 million mean to a company such as Wal-Mart that has $470 billion in turnover. Peanuts.

Although demand for fuel cells and other forms of clean energy is likely to grow — especially in places such as California that are leaders in environmental legislation — the growth will likely remain slow as long as fossil fuels and crude oil remains reasonably cheap thanks to fracking and shale oil.

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