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. (NASDAQ: PLUG) generates frequent news flow around its role in the hydrogen economy, large-scale hydrogen projects, and capital markets activity. Company press releases highlight its integrated hydrogen ecosystem, which spans electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure for material handling, industrial applications, energy producers, and other sectors.
News updates often cover project milestones and partnerships, such as the installation of a GenEco PEM electrolyzer for Cleanergy Solutions Namibia, described as part of Africa’s first fully integrated commercial green hydrogen facility, and a letter of intent with Hy2gen for a PEM electrolyzer at the Sunrhyse project in southern France. These stories illustrate Plug’s participation in renewable hydrogen production, hydrogen mobility, and regional hydrogen roadmaps.
Investors can also follow announcements about hydrogen supply contracts, including Plug’s first liquid hydrogen award from NASA to serve research and test facilities in Ohio. Additional coverage includes the company’s hydrogen generation network in Georgia, Tennessee, and Louisiana, and its role in supplying hydrogen to logistics, transportation, maritime, and industrial users.
Another recurring theme in PLUG news is investor and capital markets activity. Plug regularly announces participation in energy, clean technology, and utilities conferences hosted by major financial institutions, as well as Asia-Pacific investor calls. The company also issues updates on financing transactions, such as convertible note offerings and warrant-related agreements, and on governance matters like special stockholder meetings and proxy statements.
For readers tracking PLUG stock and the hydrogen sector, this news page offers a centralized view of Plug Power’s project pipeline, customer relationships, financing developments, and strategic initiatives as disclosed in its press releases and SEC-related communications.
Plug Power (NASDAQ: PLUG) has enhanced its liquidity by approximately $30 million through the transfer of Federal Investment Tax Credit (ITC) on January 24, 2025. This marks Plug's first use of transferability rules under the Inflation Reduction Act (IRA) of 2022 and represents one of the first transfer deals for hydrogen storage and liquefaction assets.
The company secured the ITC through investments in liquefaction and storage technologies at its Woodbine, Georgia plant, which began production in early 2024. Under the IRA, facilities like Woodbine can claim both the Section 45V Production Tax Credit (PTC) for green hydrogen production and the ITC on storage and liquefaction assets. This follows Plug's June 2024 announcement of utilizing the PTC at the same facility.
The transaction represents a non-dilutive balance sheet opportunity and sets the stage for future ITC monetization as Plug continues to expand its green hydrogen ecosystem.
Plug Power Inc. (NASDAQ: PLUG) has secured a $1.66 billion loan guarantee from the U.S. Department of Energy's Loan Programs Office to support the construction of up to six hydrogen production and liquefaction projects across the United States. The company's Graham, Texas plant, powered by an adjacent wind farm, will be the first facility to benefit from this financing.
The Texas plant will utilize Plug's electrolyzer stacks manufactured in Rochester, N.Y., and liquefaction and storage systems from Houston. The facility is expected to create hundreds of high-quality jobs. Currently, Plug operates hydrogen plants in Georgia, Tennessee, and Louisiana with a combined liquid hydrogen production capacity of approximately 45 tons per day.
Plug Power (NASDAQ: PLUG) has secured a major agreement with Allied Green Ammonia (AGA) to supply 3 gigawatts (GW) of electrolyzer capacity for AGA's green hydrogen-to-ammonia plant in Australia. The project will be powered by a 4.5 GW solar plant, ensuring zero-emission production.
Plug will first develop a Basic Engineering and Design Package (BEDP) to attract investors. Following an expected Final Investment Decision by Q2 2025, manufacturing and delivery of Proton Exchange Membrane (PEM) electrolyzers will begin in Q1 2027.
The facility aims to produce approximately 2,700 metric tons per day of green ammonia, serving AGA's customers in Asia and Europe across agriculture, energy storage, transport, and industrial applications. This project represents one of the largest green ammonia production facilities globally.
Plug Power (NASDAQ: PLUG) has announced its participation in the 14th UBS Global Energy & Utilities Conference in Park City, Utah. The conference is a significant industry event featuring over 50 top executives from leading energy companies.
President Sanjay Shrestha and Investor Relations Manager Kevin O'Brien will represent Plug Power, engaging with institutional investors who collectively manage over $400 billion in assets. Their discussions will center on the company's strategic initiatives in green hydrogen solutions and opportunities in the evolving energy sector.
The conference format includes fireside chats and one-on-one meetings, providing a platform for industry insights and strategic partnership development. Additional information about Plug's conference appearances will be accessible through the Investor Resources section of the company's website.
Plug Power (NASDAQ: PLUG) has announced its participation in the Goldman Sachs Energy, CleanTech & Utilities Conference on January 7, 2025, in Miami. The company will be represented by Jose Luis Crespo, Chief Revenue Officer, and Kevin O'Brien, Manager of Investor Relations.
The representatives will engage with institutional investors who collectively manage nearly one trillion dollars in assets. This participation demonstrates Plug's commitment to advancing the hydrogen economy and strengthening its relationships within the financial sector.
Interested parties can find additional information about the company's conference appearances in the Investor Resources section of Plug's website.
Plug Power (NASDAQ: PLUG) announced its participation in the Jefferies Renewables & Clean Energy Conference 2024 in New York. Jose Luis Crespo, Chief Revenue Officer, will engage in a fireside chat on December 4, 2024, from 11:00 to 11:40 AM EST. The presentation will be accessible via webcast, available through both the conference platform and Plug Power's investor relations website.
Plug Power hosted its sixth annual Plug Symposium, highlighting its role in the global green hydrogen economy. The company reported key 2024 milestones including commissioning a 15 TPD hydrogen plant in Georgia, upgrading a 10 TPD facility in Tennessee, and deploying electrolyzers across five continents. Strategic partnerships were formed with bp, Iberdrola, and Allied Green Ammonia. The company announced financial targets for 2025 including revenue of $850M-$950M with gross margin of -20% to -5%, and 2030 targets of $3.75B revenue with >30% gross margin. Sanjay Shrestha was appointed as President, transitioning from his role as Chief Strategy Officer.
Plug Power reported Q3 2024 revenue of $173.7 million with significant improvements in multiple areas. The company's operating cash flows improved 31% Quarter-over-Quarter, while gross margin loss decreased 37%. Net loss reduced to $211.2 million from $262.3 million in Q2, with EPS loss improving to $0.25 from $0.36. Electrolyzer sales increased 285% QoQ, including a notable 25 MW order from bp and Iberdola. The company maintains its 2024 revenue guidance between $700-800 million. Operational highlights include expanding hydrogen production network, growing BEDP contracts to over 8 GW, and completing an 8 MW hydrogen fuel cell system installation.
Plug Power (NASDAQ: PLUG) announces its 2024 Plug Symposium, scheduled for November 13, 2024, from 9:00 am to 1:00 pm ET. The digital event, themed 'Plug Doing Real Things,' will highlight the company's progress in real-world applications driving the green hydrogen economy. The symposium will be publicly accessible through live streaming, with registration available on the company's website. A replay option will be provided for those unable to attend the live broadcast.
Plug Power (NASDAQ: PLUG) has scheduled its 2024 third quarter results announcement for Tuesday, November 12, 2024, at 8:30 AM ET. The company will host a conference call accessible via toll-free numbers and a direct webcast from their homepage. Following the earnings announcement, Plug will host its 6th annual symposium on November 13th at its Slingerlands headquarters, featuring company leadership and industry experts discussing hydrogen industry projects and innovations. The symposium will be available virtually for all stakeholders.