Plug Power Announces 2020 First Quarter Results

Rhea-AI Summary

Plug Power Inc. (NASDAQ: PLUG) has released its first quarter results for 2020. The company is a leader in hydrogen fuel cell technology, having deployed over 30,000 systems globally and becoming the largest purchaser of liquid hydrogen. Plug Power's GenKey solution enables comprehensive service integration for clients like Amazon and Walmart. The firm aims to expand into zero-emission vehicles, robotics, and data centers, benefiting from its innovative technology and established customer base.

Positive

• Over 30,000 fuel cell systems deployed, leading the market.
• Largest buyer of liquid hydrogen in North America.
• Successful partnerships with major clients such as Amazon and Walmart.
• Expansion into key markets like zero-emission vehicles and data centers.

Negative

• None.

LATHAM, N.Y., May 07, 2020 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, has announced today its 2020 first quarter results. The quarterly shareholder letter has been posted at http://www.ir.plugpower.com/Q120Plug.

Join the call:
Date: May 7, 2020
Time: 1:00 pm ET
Participant Dial-In: 877-405-1239 / 201-389-0851
Direct webcast: https://event.webcasts.com/starthere.jsp?ei=1311729&tp_key=dc30aa42de

Both the shareholder letter and webcast can be accessed at www.plugpower.com, on the company’s home and investor relations pages. A playback of the call will be available online for a period following the event.

About Plug Power Inc.          
Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions. The company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while providing efficiency gains and meeting sustainability goals. 

Plug Power created the first commercially viable market for hydrogen fuel cell (HFC) technology. As a result, the company has deployed over 30,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs. 

Plug Power’s vertically-integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. The company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers.

Plug Power Contact
Teal Vivacqua Hoyos
plugpower@pluckpr.com

Source: PLUG POWER

FAQ

What were Plug Power's first quarter results for 2020?

Plug Power reported strong performance, highlighting the deployment of over 30,000 fuel cell systems and expansion plans into new markets.

What is the significance of Plug Power's GenKey solution?

GenKey offers integrated service solutions for powering and fueling customers, enhancing operational efficiency.

Who are some of Plug Power's key customers?

Notable clients include Amazon, Walmart, BMW, and The Southern Company.

How is Plug Power contributing to the hydrogen economy?

Plug Power is a leading provider of hydrogen fuel cell solutions and has built a hydrogen highway across North America.