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[Video] Russia – Ukraine War ‘Will Accelerate’ Move to Green Hydrogen, Renewable Energy: Plug Power CEO

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[Video] Russia – Ukraine war ‘will accelerate’ move to green hydrogen, renewable energy: Plug Power CEO.

Plug Power CEO Andy Marsh joins Yahoo Finance Live to discuss company earnings and the outlook for renewable energy amid the Russia-Ukraine crisis.

Akiko Fujita:

Welcome back to Yahoo Finance Live.

“Shares of Plug Power are sliding in the session, down about 4% right now. The company did report mixed fourth-quarter earnings. Despite reporting wider losses than expected, the hydrogen fuel cell company says it is on track to meet its 2025 revenue goal of $3 billion.”

“Let’s bring in the CEO of Plug Power, Andy Marsh joining us today. And Andy, it’s great to have you back on the show. We’re going to get to those numbers in the quarter in just a bit. But let me just talk to you about how you’re watching these energy moves that have been playing out as a result of the Russian invasion of Ukraine”.

“There is a larger debate that this has elevated, which is to say if you take Russian oil and gas out of the mix, especially for European countries, does that number one, then accelerate the transition to green energy, or does that increase the reliance on other forms of fossil fuels?”

“What have you heard from some clients? Are you seeing a pickup in interest, especially on hydrogen fuel cell technology over the last week?”

Andy Marsh said:

Akiko, I think the answer to that question is yes, but first I’d like to say like most people watching what’s going on in Ukraine is horrible.

“I think what it’s highlighting is the need to move away from the Russian gas station. And I think when people look at it you see two items, one is that we need to reduce our CO2 emissions and now renewable energy is an opportunity for– is a national security issue also to produce it yourself.”

“I was talking this week with one of the leading pipeline providers in Europe. And we had a long discussion about how you can convert their natural gas pipelines into hydrogen pipelines not in some distant future but today.”

READ the latest news shaping the hydrogen market at Hydrogen Central

Russia – Ukraine war ‘will accelerate’ move to green hydrogen, renewable energy: Plug Power CEO, March 3, 2022

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