Plug Power Stock Price, News & Analysis

Plug Power has secured a major financial boost with a new $525 million credit facility from Yorkville Advisors, including an initial $210 million tranche expected to close by May 2, 2025. The company will use $82.5 million to retire existing convertible debentures, reducing potential share dilution by approximately 55 million shares.

Key financial highlights include:

• Q1 2025 expected revenue: $130-134 million
• Q2 2025 projected revenue: $140-180 million
• Q1 2025 net cash usage: $142 million (down from $268 million in Q1 2024)
• Cash position: $296 million in unrestricted cash as of March 31, 2025

The company has completed its new 15TPD hydrogen production plant in Louisiana through the Hidrogenii joint venture with Olin Corporation. Additionally, Plug Power has implemented cost-cutting measures expected to generate over $200 million in annual savings. The company states it has no plans to raise additional equity in 2025, demonstrating confidence in its current financial position.

Plug Power (NASDAQ: PLUG) and Olin announced the commissioning of a 15 metric-ton-per-day (TPD) hydrogen liquefaction plant in St. Gabriel, Louisiana through their joint venture Hidrogenii. The facility, among North America's largest electrolytic hydrogen liquefaction plants, will process Olin-produced hydrogen for trailer shipments across the U.S., serving Plug's material handling customers through Plug's spot pricing market.

The new plant increases Plug's total production capacity to 40 TPD, complementing existing facilities in Woodbine, Georgia (15 TPD) and Charleston, Tennessee (10 TPD). The joint venture, established in 2022, aims to strengthen the regional hydrogen supply chain and support the U.S. transition to low-carbon energy.

STEF Group, European leader in temperature-controlled food logistics, has launched two hydrogen projects with Toyota Material Handling Europe and Plug Power (PLUG) in France and Spain. The initiative involves implementing hydrogen-powered forklifts at cold storage facilities in Athis-Mons, France, and Torrejón de Ardoz, Spain.

The French site uses delivered green hydrogen, while the Spanish facility produces hydrogen on-site using an electrolyzer powered by a 2.9 MWp rooftop solar plant. The project includes 48 forklifts in Athis-Mons and 67 in Torrejón de Ardoz.

The hydrogen fuel cell forklifts offer several advantages:

• Quick refueling in under 3 minutes
• Enhanced performance in cold conditions (-18° to +4°)
• 10-year fuel cell lifespan (double that of traditional batteries)
• Reduced accident risk compared to lead-acid battery changes

PLUG will provide its complete GenKey ecosystem, including fuel cells, GenFuel infrastructure, green hydrogen supply, and ongoing service for both locations.

Energy Vault Holdings (NYSE: NRGV) has secured $28 million in project financing for its Calistoga Resiliency Center (CRC), including the sale of Investment Tax Credit. The CRC is the world's first ultra-long duration hybrid green hydrogen energy storage microgrid serving PG&E in California.

The facility, designed to address power resiliency during wildfire risks, features a 293 MWh microgrid system delivering ~48 hours of continuous energy supply with 8.5 MW peak power output during Public Safety Power Shutoff (PSPS) events. The system combines hydrogen fuel cells with B-VAULT™ DC battery technology and is managed by VaultOS™ Energy Management System.

The CRC has achieved mechanical completion and is under commissioning, with full commercial operation expected in Q2 2025. Additionally, Energy Vault has executed binding commitments for Investment Tax Credits for two Texas projects, expected to yield over $25 million.

Plug Power (NASDAQ: PLUG), a leader in green hydrogen economy solutions, announced its participation in the UBS Global Energy Conference in London, England on March 27, 2025. Chief Revenue Officer Jose Luis Crespo will represent the company, conducting one-on-one meetings with institutional investors to discuss strategic priorities.

The conference participation underscores Plug's leadership position in the hydrogen economy and its commitment to investor relations. Detailed information about the company's conference participation will be accessible through the Investor Resources section on Plug's website.

Plug Power (NASDAQ: PLUG) CEO Andy Marsh has announced he will receive 50% of his annual compensation in company stock for 2025, demonstrating his confidence in the company's strategy and future prospects. The decision aligns with Plug's mission to lead the hydrogen economy and reflects management's commitment to creating stakeholder value.

Marsh emphasized the company's dedication to pioneering the hydrogen economy for current and future generations. The company stated it will continue providing updates on key initiatives throughout the year.

Plug Power (NASDAQ: PLUG) has announced the pricing of an upsized underwritten offering of $280 million, consisting of 46.5 million shares of common stock and pre-funded warrants for 138.9 million shares. The offering includes a total of 185.4 million warrants.

The common stock and accompanying warrants are priced at $1.51 combined, while pre-funded warrants with accompanying warrants are set at $1.509. The pre-funded warrants have a $0.001 exercise price with immediate exercisability, while the standard warrants carry a $2.00 exercise price, exercisable after six months. Both warrant types expire in three years.

The offering, expected to close around March 20, 2025, will be sold to a single institutional investor. Oppenheimer & Co. Inc. serves as the sole book-running manager. The company plans to use proceeds for working capital and general corporate purposes, aiming to strengthen its financial position and drive towards profitability in 2025.

Plug Power Inc. (NASDAQ: PLUG) has entered into a new agreement with Southwire, a leading North American wire and cable manufacturer, to implement a clean hydrogen ecosystem at their Dallas-Fort Worth, Texas distribution site. The partnership includes:

- Supply of 50+ hydrogen-powered forklifts with GenDrive fuel cells
- Installation of fueling station with 4 GenFuel dispensers
- Hydrogen sourcing from Plug's facilities in Georgia, Tennessee or Louisiana
- 5-year fuel cell service agreement and 10-year hydrogen infrastructure maintenance

The solution is projected to eliminate over 1 million pounds of CO2 annually from Southwire's direct operations. This agreement marks Plug's strategic entry into the industrial supplier market, expanding beyond their established presence in e-commerce and retail sectors. The partnership demonstrates Plug's commitment to providing sustainable alternatives to traditional lead acid batteries while supporting Southwire's sustainability goals.

Plug Power (NASDAQ: PLUG), a leader in green hydrogen economy solutions, has announced its participation in the 2025 J.P. Morgan Industrials Conference in New York. Sanjay Shrestha, President, will deliver a presentation on Thursday, March 13, 2025, from 11:15 to 11:50 AM EST.

Investors and interested parties can access a live audio webcast of the presentation through J.P. Morgan's meeting platform and the Investor Resources section of Plug Power's website. The webcast will begin at 11:15 AM EST on the day of the presentation.