Plug Power Announces 2022 First Quarter Results

Rhea-AI Summary

Plug Power Inc. (NASDAQ: PLUG) reported its first quarter results for 2022, emphasizing its role as a leader in the hydrogen economy. The company has deployed over 50,000 fuel cell systems globally and operates a hydrogen highway across North America, positioning itself as the largest buyer of liquid hydrogen. Plug Power's GenKey solution integrates key elements for powering and fueling customers like Amazon and Walmart. The firm aims to expand into markets like zero-emission vehicles and robotics while delivering substantial environmental benefits and operational efficiency.

Positive

• Successfully deployed over 50,000 fuel cell systems worldwide.
• Largest buyer of liquid hydrogen, enhancing market position.
• Expanding rapidly into new markets including zero-emission vehicles and robotics.
• Strong customer base including major companies like Amazon, BMW, and Walmart.

Negative

• None.

LATHAM, N.Y., May 09, 2022 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, has announced today its 2022 first quarter results. The quarterly shareholder letter has been posted at https://www.ir.plugpower.com/Q122Plug.

A conference call will be held today, May 9, 2022.

• Time: 4:30 pm ET
• Toll-free: 877-407-9221 / 201-689-8597
• Direct webcast: https://event.webcasts.com/starthere.jsp?ei=1546052&tp_key=43e64828c1
  
  

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 50,000 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.

SOURCE: PLUG POWER

Plug Power Media Contact
Caitlin Coffee
Allison+Partners
(312) 635-8204
PlugPR@allisonpr.com

FAQ

What were Plug Power's Q1 2022 results?

Plug Power reported its Q1 2022 results, highlighting its leadership in the hydrogen economy and significant deployments of fuel cell systems.

How is Plug Power expanding its market reach?

Plug Power is leveraging its technology and customer relationships to expand into markets such as zero-emission vehicles and robotics.

What companies are clients of Plug Power?

Plug Power's clients include major firms such as Amazon, BMW, Carrefour, and Walmart.

What is Plug Power's role in the hydrogen economy?

Plug Power is a leading provider of turnkey hydrogen solutions, integrating fuel cell technology within various industries.