Welcome to our dedicated page for Plug Power news (Ticker: PLUG), a resource for investors and traders seeking the latest updates and insights on Plug Power stock.
Plug Power Inc. (NASDAQ: PLUG) drives innovation in hydrogen fuel cell systems and green hydrogen infrastructure solutions. This hub provides investors and industry professionals with centralized access to official announcements, strategic updates, and technology developments from the clean energy pioneer.
Discover timely updates on electrolyzer deployments, material handling partnerships, and hydrogen highway expansions. Our curated feed includes earnings disclosures, joint venture formations, and product launch details essential for understanding PLUG's market trajectory.
Key updates cover three strategic areas: fuel cell technology advancements like GenDrive deployments, green hydrogen production milestones, and global infrastructure partnerships. Each entry provides direct links to source materials for due diligence and analysis.
Bookmark this page for streamlined tracking of Plug Power's progress in decarbonizing industrial operations through its vertically integrated hydrogen ecosystem. Verify operational updates and review historical announcements through our chronologically organized archive.
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.
Plug Power (NASDAQ: PLUG) announced its participation in the Jefferies Power, Utilities & Clean Energy Conference in New York City on March 05, 2025. The company, a leader in end-to-end hydrogen solutions, will be represented by President Sanjay Shrestha and VP of Investor Relations Roberto Friedlander, who will conduct one-on-one meetings with institutional investors.
The discussions will focus on three strategic priorities:
- Material handling
- Electrolyzers
- Hydrogen supply
These key areas are central to Plug's strategy for achieving profitability through operational efficiencies and revenue expansion. The conference, one of the largest bank-sponsored events in the sector, serves as a platform for Plug to showcase its leadership in the green hydrogen economy and its focused approach to scaling operations.
Plug Power (NASDAQ: PLUG) has announced strategic initiatives to improve profitability and cash flow management in Q4 2024. The company reported Q4 revenue of $191.5 million, with significant growth in electrolyzer deployments. Operating cash flow improved by 25% QoQ and 46% YoY.
The company introduced 'Project Quantum Leap', targeting annual expense reductions of $150-200 million through workforce reductions, facility consolidations, and capital expenditures. However, Q4 showed a 122% gross margin loss, including $22.7M in customer warrant charges and $104.2M in inventory adjustments.
Key highlights include:
- Electrolyzer revenue increased 583% YoY
- Secured 3GW supply agreement with Allied Green Ammonia
- Louisiana hydrogen plant nearing completion, increasing network capacity to 39 TPD
- Material handling business projected to grow 10-20% YoY
- Closed 2024 with over $200M in unrestricted cash
- Completed $1.66B DOE Loan Guarantee program closure
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