UPDATE 2-Plug Power eyes first profit on rising fuel cell orders

Thu Mar 13, 2014 1:00pm EDT
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* Expects to post profit in fourth quarter

* Expects 2014 orders to increase four times

* Says looking to enter Asia, got new order from automaker

* Aims to ship units using in-house fuel cells next year

* Shares rise as much as 25 percent (Adds outlook, CEO comments from conference call; updates shares)

By Garima Goel

March 13 (Reuters) - Plug Power Inc said it expected to post its first ever profit in the fourth quarter this year as orders rise for its hydrogen fuel cells, helped by strong demand from customers such as Wal-Mart Stores Inc .

Plug Power's shares rose as much as 25 percent to $8.48 in morning trading on the Nasdaq, adding to the sky-rocketing 3,722 percent it has gained in the past year.

The company is searching for partners to enter Asia in a similar way to how partnering with Air Liquide helped it enter Europe, CEO Andy Marsh said. The French industrial gas maker also provides Plug Power with hydrogen for its fuel cells.   Continued...