Plug Power is also part of the Midwestern Hydrogen Hub that straddles Illinois, Indiana, and Michigan that will receive up to $1 billion of the DOE funds. Shares of Ballard Power Systems (NASDAQ:BLDP) were up less than 1% while those of FuelCell Energy (NASDAQ:FCEL) tumbled 4.6% with both companies not part of any of the seven hubs. Shares of Plug Power's peer Bloom Energy (NYSE:BE) have, however, rocketed 8.7% thanks to the company being part of the Mid-Atlantic Hydrogen Hub straddling Pennsylvania, Delaware and New Jersey that will receive up to $750 million. Other companies in this hub are Air Liquide (OTCPK:AIQUF), Chesapeake Utilities (NYSE:CPK) and Enbridge Inc. (NYSE:ENB). After a strong showing in 2022 courtesy of ample backing by the Biden administration, hydrogen stocks have badly lagged in the current year as investors scrutinize their fundamentals.