Plug Power Announces 2022 Third Quarter Results

Rhea-AI Summary

Plug Power Inc. (NASDAQ: PLUG) announced its Q3 2022 results, showcasing its leadership in hydrogen solutions. The company has deployed over 50,000 fuel cell systems globally and has established itself as the largest buyer of liquid hydrogen. Plug Power's GenKey solution integrates all essential components to support customers like Amazon and Walmart. The report highlights its ongoing commitment to expanding into zero-emission vehicles and robotics.

Positive

• Plug Power has deployed over 50,000 fuel cell systems, leading the global market.
• The company is the largest buyer of liquid hydrogen, reinforcing its market position.
• Expansion into key markets like zero-emission vehicles and robotics demonstrates growth potential.

Negative

• None.

LATHAM, N.Y., Nov. 08, 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 third quarter results. The quarterly shareholder letter has been posted at https://www.ir.plugpower.com/Q322Plug.

A conference call will be held today, November 8, 2022.

• Time: 4:30 pm ET
• Toll-free: 877-407-9221 / +1 201-689-8597
• Direct webcast: https://event.webcasts.com/starthere.jsp?ei=1579575&tp_key=1c96c6a82e
  

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 Plug Power's Q3 2022 earnings results?

Plug Power reported its Q3 2022 results, emphasizing its significant deployment of fuel cell systems and leadership in the hydrogen economy.

What is Plug Power's future outlook following the Q3 2022 results?

The company is poised for growth, focusing on expanding into zero-emission vehicles and robotics, leveraging its established technology and customer base.

How does Plug Power's GenKey solution work?

GenKey integrates all critical elements for powering and fueling hydrogen solutions, providing comprehensive service to major clients.