Welcome to our dedicated page for Plug Power news (Ticker: PLUG), a resource for investors and traders seeking the latest updates and insights on Plug Power stock.
Plug Power Inc. (symbol: PLUG) is a leading innovator in the hydrogen fuel cell technology sector. The company is dedicated to creating cost-effective solutions that boost productivity, lower operating expenses, and minimize carbon footprints. Plug Power’s flagship solution, GenKey, offers a comprehensive package for its customers, which includes GenFuel hydrogen and fueling infrastructure, GenCare aftermarket services, and a specialized fuel cell system tailored for various markets.
Plug Power's product portfolio features two main brands: ReliOn and GenDrive. ReliOn is a modular and scalable fuel cell product engineered for critical stationary power applications. On the other hand, GenDrive serves as a lead-acid battery replacement used primarily in electric lift trucks within high-throughput material handling settings. With over 6,500 GenDrive units deployed and more than 100 million hours of runtime accumulated, Plug Power is enhancing efficiency in material handling sectors.
The company is on a mission to construct an end-to-end green hydrogen ecosystem, encompassing production, storage, delivery, and energy generation. Plug Power is actively working on developing green hydrogen highways across North America and Europe, aiming to deliver green hydrogen solutions both directly to customers and through joint ventures. These initiatives span multiple markets, including material handling, e-mobility, power generation, and other industrial applications.
In recent news, Plug Power has taken significant strides by completing the final step to enable the commercial sale of its electrolyzer systems in Korea. Additionally, Plug Power has unveiled a state-of-the-art Gigafactory for producing electrolyzers and fuel cells. The company plans to develop multiple green hydrogen production plants, targeting commercial operation by the end of 2028.
Plug Power's extensive deployment of over 69,000 fuel cell systems and over 250 fueling stations makes it a global leader in the hydrogen fuel cell market. As the largest buyer of liquid hydrogen, Plug Power is at the forefront of the push towards a sustainable and decarbonized economy.
Plug Power (NASDAQ: PLUG) has partnered with Universal Hydrogen to develop the first commercial turboprop aircraft powered by hydrogen fuel cells. The collaboration aims to create a viable hydrogen fuel cell-based propulsion system, enhancing the range of regional aircraft up to 1,000 km, covering over 90% of current routes. The initiative includes testing a full-scale powertrain prototype, with regulatory approval expected by 2024. This venture further solidifies Plug Power's footprint in the hydrogen economy and showcases its commitment to innovate in the aerospace sector.
Plug Power, a leading provider of clean hydrogen fuel cell solutions, will hold its second annual Plug Symposium on September 24, 2020. The event aims to foster dialogue on sustainable solutions in the green hydrogen economy, featuring industry experts and Plug Power's leadership. CEO Andy Marsh highlighted the company’s progress toward achieving $1.2 billion in annual gross billings and $250 million in adjusted EBITDA. Attendees can expect insights on market growth and Plug Power's strategic plans, with registration available until September 23.
Plug Power announced the pricing of an offering of 30,675,000 common stock shares at $10.25 each, with a 30-day option for underwriters to purchase an additional 4,601,250 shares. The offering, expected to close by August 14, 2020, is managed by Morgan Stanley and co-managed by Barclays, Roth Capital Partners, Craig-Hallum Capital Group, and H.C. Wainwright. This offering is in accordance with an automatic shelf registration statement filed with the SEC. Proceeds will be used to enhance Plug Power's hydrogen fuel cell solutions and expand its market presence.
Plug Power announced a registered public offering of $300 million in common stock, with a potential additional $45 million from the underwriter. The company plans to utilize the proceeds for working capital and general corporate purposes, including capital expenditures and potential acquisitions, but has not specified any particular use or agreements. Morgan Stanley is the sole underwriter for the offering, which is conducted under an automated shelf registration statement with the SEC. This offering does not constitute an offer to sell or buy Plug Power's shares in any jurisdiction where it would be unlawful.
Plug Power has released its second quarter results for 2020, highlighting its role as a leading provider in the hydrogen fuel cell industry. The company announced significant advancements in e-mobility, deploying approximately 35,000 fuel cell systems globally. With a focus on sustainability, Plug Power is committed to expanding into zero-emission vehicles and robotics. The earnings call is scheduled for August 6, 2020, at 10:00 am ET, with a playback available online afterwards. For detailed insights, the shareholder letter can be accessed on their investor relations page.
Plug Power Inc. (NASDAQ:PLUG) will announce its second quarter 2020 results on August 6, 2020, with a live conference call and webcast scheduled for 10:00 am ET. The company is a leader in hydrogen engine and fueling solutions, actively contributing to the zero-emission e-mobility sector. Plug Power claims to have deployed over 32,000 fuel cell systems, making it the largest buyer of liquid hydrogen and establishing a hydrogen highway across North America. The company continues to expand into new markets, leveraging its comprehensive solutions for notable customers like Amazon and Walmart.
Plug Power Inc. (NASDAQ: PLUG) announced that it will host a business update conference call on June 23, 2020, at 1:00 pm ET. CEO Andy Marsh will discuss recent acquisition activities and vertical integration efforts in the hydrogen industry. Plug Power is a leading provider of hydrogen fuel cell solutions, having deployed over 32,000 fuel cell systems and becoming the largest purchaser of liquid hydrogen globally. The company is expanding its market reach into zero-emission vehicles, robotics, and data centers while emphasizing its comprehensive GenKey solution to serve notable clients like Amazon and Walmart.
Plug Power (NASDAQ: PLUG) has been named to Food Logistics' Top Green Providers list for 2020, marking its fourth consecutive year on the list. The company plays a significant role in the clean hydrogen economy, powering 30% of retail food and grocery logistics in the U.S. during the COVID-19 pandemic. Plug Power's hydrogen fuel cell solutions enhance sustainability in logistics, with over 32,000 fuel cell-powered forklifts completing more than 27 million hydrogen fills. The company aims to expand its clean energy solutions across various sectors, including zero-emission vehicles.
Plug Power Inc. (NASDAQ:PLUG) announces its 2020 digital annual stockholder meeting scheduled for June 5, 2020, at 10:00 am ET. Stockholders must register at here. The meeting will be available for playback on their website. Plug Power is a leader in hydrogen fuel cell technology, with over 30,000 systems deployed and significant partnerships to support expansion into new markets.
Plug Power (NASDAQ: PLUG) has launched the first convertible green bond offering in the US, aiming to fund strategic initiatives related to their green hydrogen strategy. The net proceeds will also be used for repurchasing previously issued notes. The company plans to ensure over 50% of hydrogen is green by 2024. CEO Andy Marsh noted that green hydrogen costs are projected to decline by 50% by 2030. Hydrogen is expected to play a crucial role in the energy mix by 2050, with Plug Power positioned to benefit from this shift.
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