Plug Power Stock Price, News & Analysis

Plug Power Inc. (NASDAQ: PLUG) held the grand opening of its Innovation Center in Rochester, N.Y., marking New York's first and largest fuel cell and electrolyzer manufacturing gigafactory. This facility is set to create approximately 380 new jobs in Monroe County. The event featured notable guests, including Senate Majority Leader Chuck Schumer and Congressman Joe Morelle, highlighting the significance of this development in advancing the hydrogen economy.

Plug Power Inc. (NASDAQ:PLUG) reported its 2021 third quarter results on November 9, 2021. The company is a leader in hydrogen solutions, focusing on the green hydrogen economy. They have deployed over 50,000 fuel cell systems and are the largest buyer of liquid hydrogen in North America. Plug Power's GenKey solution integrates essential services for customers like Amazon and Walmart, while also expanding into new markets such as zero-emission vehicles and robotics. A shareholder letter with detailed results is available online.

Plug Power (NASDAQ: PLUG) has signed a definitive agreement to acquire Frames Group, enhancing its electrolyzer solutions and European presence. The acquisition, valued at €85M in cash and €30M in earnouts, aims to meet the target of three gigawatts (GW) of installed electrolyzer capacity by 2025. Plug Power anticipates revenue opportunities from a backlog worth approximately €100 million, driven by increasing demand for renewable energy solutions. This strategic move is expected to complete by year-end 2021, bolstering Plug Power's position in the green hydrogen market.

Plug Power Inc. (NASDAQ: PLUG) will release its third quarter 2021 results on November 9, 2021, at 4:30 PM ET. Interested parties can join the conference call by dialing 800-942-2493 or 212-271-4651. A direct webcast will also be available on Plug Power's website. Plug Power is a leader in hydrogen fuel cell technology and aims to expand its footprint in various sectors, including zero-emission vehicles and data centers.

Plug Power (NASDAQ: PLUG) and Lhyfe have announced a partnership to develop green hydrogen generation plants across Europe. The initiative aims for a total hydrogen capacity of 300MW by 2025 and plans to commence development of a 1GW production site. This collaboration builds on their previous efforts, including integrating Plug Power’s technology in the world’s first offshore hydrogen facility. Plug Power continues to expand its presence in Europe with a focus on sustainable hydrogen solutions, having established multiple operational projects across several countries.

Plug Power Inc. (NASDAQ: PLUG) recently provided optimistic projections during its third annual Plug Symposium. The company aims for $3 billion in annual sales by 2025 and updated its 2022 guidance to $825-850 million, reflecting a remarkable growth of 65% over 2021. Key announcements include a definitive agreement to acquire Applied Cryo Technologies and a joint venture with Fortescue Future Industries to build a Gigafactory in Australia. The company also unveiled a new hydrogen fuel cell van prototype and plans for 500 tons per day of green hydrogen production by 2025.

Plug Power (NASDAQ: PLUG) revealed the hydrogen-powered Renault Master Van H2-TECH prototype at the 2021 Plug Power Symposium, showcasing a vehicle with zero emissions, over 300 miles of range, and fast refueling capabilities. The van features a 30kW fuel cell engine based on Plug Power’s ProGen technology. It aims to support industries targeting sustainability. Additional prototypes are anticipated, including larger cargo and passenger options. This initiative aligns with Plug Power's focus on expanding hydrogen mobility solutions as part of its comprehensive ecosystem.

Plug Power has announced the acquisition of Applied Cryo Technologies (ACT), a leader in cryogenic technology for liquefied gases, to enhance its green hydrogen infrastructure. This strategic move, expected to close in Q4 2021, aims to bolster Plug Power's capabilities in hydrogen delivery, storage, and mobility fueling, essential for supporting its ambitious target of producing over 1,000 tons of green hydrogen daily by 2028. The partnership is projected to create a robust ecosystem for hydrogen solutions, benefiting various industries globally.

Plug Power (NASDAQ: PLUG) and Fortescue Future Industries (FFI) have signed a letter of intent to establish a 50-50 joint venture for a Gigafactory in Queensland, Australia. The facility will produce large-scale proton exchange membrane (PEM) electrolyzers, with plans for future expansion into fuel cell systems. FFI will be the main customer and has committed to purchasing 250 megawatts of Plug Power’s electrolyzers for its operations. The venture aims to tap into the growing green hydrogen market, supporting FFI's decarbonization efforts and furthering Plug Power's international expansion.