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Plug Power Inc. - PLUG STOCK NEWS

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.

News

Plug to Announce 2024 First Quarter Results

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Plug Power Inc. will announce its 2024 first quarter results on May 9, 2024, emphasizing their global leadership in hydrogen solutions. Investors can join the call or access the webcast through the company's website.

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Plug Signs Additional BEDP Contracts for a Total of 4.5GW of Electrolyzers Across Europe and the United States

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Plug Power Inc. signs additional contracts for a total of 4.5GW of electrolyzers across Europe and the United States, expanding its BEDP portfolio by 350MW. The company has shown significant growth in its electrolyzer business, showcasing expertise in PEM technology and liquid hydrogen plants. With a global manufacturing network, Plug is set to deliver and install electrolyzers worldwide, with a focus on compliance and regulatory requirements. The company aims to be the largest provider of PEM technology globally by the end of the year.
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Plug Continues to Make Substantial Advancement in Hydrogen Generation Buildout

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Plug Power Inc. continues to expand its hydrogen production capacity in Georgia and Tennessee, with plans for a new plant in Louisiana by the end of Q3 2024. The company has reached nameplate capacity at its existing plants, leading to a lower cost of hydrogen production and improved margins. Plug has recalibrated its pricing strategy to reflect the value of its services while focusing on cash flow and margin expansion. The company's efforts align with its goal of meeting customer demand and strengthening its green hydrogen network in North America.
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Plug Highlights Year of Strategic Growth and Advancements in Accelerating the Green Hydrogen Economy

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Plug Power Inc. announces financial results and operational milestones for the quarter and fiscal year ending December 31, 2023. The Company achieved significant progress in revenue growth, operational efficiency, and strategic investments for global sustainability and energy independence. Highlights include the successful commissioning of the Georgia hydrogen plant, expansion of material handling business with key customers like Walmart, installation of a 1 MW electrolyzer system at an Amazon fulfillment center, and the launch of new energy products. Financially, Plug resolved the going concern issue, achieved record revenue of $891 million, but reported an EPS loss of $2.30 due to increased investments and non-cash charges. The Company is focusing on cash management and strategic growth initiatives for sustainable operations.
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Plug and Uline Expand Partnership to Supply Hydrogen and Fuel Cells at Four Additional Sites

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Plug Power Inc. and Uline announce a $20,000,000 expansion of their partnership to deploy hydrogen infrastructure and fuel cell solutions at Uline's new campus in Kenosha, Wisconsin. The partnership includes the integration of on-site hydrogen infrastructure, a 18,000-gallon hydrogen storage tank, 17 hydrogen dispensers, and 250 fuel cell forklifts. The entire campus is set to be operational within the next ten months, with Uline planning to construct three more buildings in the strategic campus build out.
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Plug Finalizes Contract to Support A Major U.S. Automobile Manufacturer’s Material Handling Operations

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Plug Power Inc. secures a contract to supply a major U.S. automobile manufacturer with hydrogen infrastructure and fuel cell solutions for its manufacturing campus, enhancing operational efficiency and promoting sustainability within the automotive industry.
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Plug to Announce 2023 Fourth Quarter and Year-End Results

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Plug Power Inc. (PLUG) will announce its 2023 fourth quarter results on March 1, 2024, showcasing its position as a global leader in hydrogen solutions for the green hydrogen economy.
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Plug Announces Strategic Expense Reduction Plan to Save More Than $75 Million Annually

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Plug Power Inc. (PLUG) announces a strategic initiative to reduce annual operational expenses by over $75 million with a one-time cost of $15 million. The plan includes operational consolidation, strategic workforce adjustments, and other cost-saving measures to enhance efficiency and maintain leadership in the renewable energy sector.
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Plug Delivers Several Portable Liquid Hydrogen Refuelers to Customers

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Plug Power Inc. introduces a revolutionary portable refueler, HL-450D-P, to support the adoption of hydrogen fuel cell electric vehicle fleets in the transportation sector. The product aims to reduce infrastructure costs and deployment time for fleet operators, offering a cost-effective and efficient solution for hydrogen refueling.
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Plug Cryogenic Trailers Leave Tennessee Hydrogen Production Plant for Customer Deliveries

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Plug (PLUG) successfully fills cryogenic trailers with liquid hydrogen for delivery at east coast pedestal customer sites, following design improvements at the Tennessee plant. This enhances the efficiency of the generation facility, positioning Plug for increased operational capabilities.
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FAQ

What is the current stock price of Plug Power (PLUG)?

The current stock price of Plug Power (PLUG) is $2.03 as of January 22, 2025.

What is the market cap of Plug Power (PLUG)?

The market cap of Plug Power (PLUG) is approximately 2.0B.

What does Plug Power Inc. specialize in?

Plug Power specializes in hydrogen fuel cell technology, providing solutions that enhance productivity, reduce costs, and lower carbon footprints.

What is Plug Power's GenKey solution?

GenKey is a comprehensive package that includes GenFuel hydrogen infrastructure, GenCare aftermarket services, and a tailored fuel cell system.

What are the primary brands under Plug Power?

Plug Power operates two main brands: ReliOn for stationary power applications and GenDrive for electric lift trucks in material handling applications.

How many GenDrive units has Plug Power deployed?

Plug Power has deployed over 6,500 GenDrive units, accumulating more than 100 million hours of runtime.

What is Plug Power’s green hydrogen ecosystem?

Plug Power is building a green hydrogen ecosystem that covers production, storage, delivery, and energy generation, aiming to establish green hydrogen highways in North America and Europe.

What recent achievements has Plug Power made?

Recently, Plug Power completed steps to enable commercial sales of its electrolyzer systems in Korea and unveiled a Gigafactory for electrolyzer and fuel cell production.

How many fuel cell systems and fueling stations has Plug Power deployed?

Plug Power has deployed over 69,000 fuel cell systems and more than 250 fueling stations worldwide.

What markets does Plug Power serve?

Plug Power serves multiple markets including material handling, e-mobility, power generation, and various industrial applications.

What is Plug Power’s Gigafactory?

Plug Power’s Gigafactory is a state-of-the-art facility dedicated to producing electrolyzers and fuel cells to support the development of a green hydrogen ecosystem.

When does Plug Power plan to complete its green hydrogen production plants?

Plug Power aims to have its green hydrogen production plants commercially operational by the end of 2028.
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Plug Power Inc.

Nasdaq:PLUG

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PLUG Stock Data

2.02B
849.26M
6.76%
48.47%
23.34%
Electrical Equipment & Parts
Electrical Industrial Apparatus
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