Plug Power Announces 2022 Second Quarter Results

Rhea-AI Summary

Plug Power Inc. (NASDAQ: PLUG) reported its 2022 second quarter results on August 9, 2022. The company continues to strengthen its position as a leader in the hydrogen economy, providing innovative hydrogen fuel cell solutions. Plug Power has deployed over 50,000 fuel cell systems globally, becoming the largest buyer of liquid hydrogen. The company aims to expand into zero-emission vehicles, robotics, and data centers while maintaining partnerships with major customers like Amazon and Walmart. A conference call discussing the results was held on the same day.

Positive

• Plug Power has deployed over 50,000 fuel cell systems, indicating strong market presence.
• Company is the largest buyer of liquid hydrogen, enhancing its supply chain integration.
• Plans to expand into zero-emission vehicles, robotics, and data centers, indicating growth potential.

Negative

• None.

LATHAM, N.Y., Aug. 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 second quarter results. The quarterly shareholder letter has been posted at https://www.ir.plugpower.com/Q222Plug.

A conference call will be held today, August 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 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 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 delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs.

Plug’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 the key highlights from Plug Power's Q2 2022 earnings?

Plug Power reported significant deployment of fuel cell systems and plans for expansion into new markets.

How many fuel cell systems has Plug Power deployed?

Plug Power has deployed over 50,000 fuel cell systems worldwide.

Who are some of Plug Power's major customers?

Major customers include Amazon, BMW, and Walmart.

What future markets is Plug Power looking to expand into?

Plug Power aims to expand into zero-emission vehicles, robotics, and data centers.