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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 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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Plug Power Starts Production of Liquid Hydrogen at its Existing Tennessee Plant

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Plug Power (PLUG) announces design improvements at Tennessee plant to enhance efficiency, positioning the company for growth in the hydrogen fuel cell market.
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Plug Signs BEDP Contract for a 500MW Electrolyzer in Europe

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Plug Power Inc. (NASDAQ: PLUG) has signed a contract to deliver a Basic Engineering and Design Package (BEDP) for a 500 megawatt (MW) electrolyzer project in Europe, increasing its total amount of BEDP contracts to 4.1 gigawatts (GW). The company's BEDP approach enables seamless integration of electrolyzer packages into broader engineering and construction plans, leveraging its experiences building green hydrogen plants. Plug has already been awarded 1.1GW worth of electrolyzer supply and has 100MW in execution for Galp, an oil & gas company in southern Europe. No project has been lost by Plug to the competition following a BEDP, evidenced by key customers Galp, Uniper, and Arcadia. The company capitalizes on 35 years of oil and gas engineering and expertise coming from the Frames acquisition.
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Plug Power Completes First Customer Fill of Liquid Green Hydrogen at its Georgia Plant

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Plug Power Inc. (NASDAQ: PLUG) has completed the largest Proton Exchange Membrane (PEM) electrolyzer deployment in the United States, filling a Plug tanker with liquid green hydrogen produced at its Woodbine, Georgia production plant. The hydrogen will be used at Walmart, Amazon, and Home Depot sites, enough to fuel 3,216 forklifts a day. The Georgia plant operates eight 5-megawatt (MW) electrolyzers and can produce up to 15 tons per day of liquid green hydrogen for customers in the eastern U.S.
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Plug Power Starts Production of Liquid Green Hydrogen at its Georgia Plant

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Plug Power Inc. has started operation of the largest liquid green hydrogen plant in the U.S., showcasing its own electrolyzer technology and demonstrating its reliability in producing sustainable fuel. The plant is designed to produce 15 tons per day of liquid electrolytic hydrogen, enough to power approximately 15,000 forklifts per day. The addition of this liquid green hydrogen production plant is expected to positively impact Plug’s bottom line and provide an additional step change in fuel margin expansion. The plant's rapid construction pace, location near major highways, and the company's ongoing work on other U.S.-based plants are also highlighted in the press release.
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FAQ

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

The current stock price of Plug Power (PLUG) is $2.56 as of December 20, 2024.

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

The market cap of Plug Power (PLUG) is approximately 2.3B.

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.

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2.30B
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6.76%
48.46%
23.73%
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