Plug Power Stock Price, News & Analysis

Plug Power has successfully completed a historic capital raise of approximately $1 billion, marking its largest capital raise ever. This boost elevates the company's cash reserves to $1.7 billion and positions it to advance its green hydrogen strategy. Plans include building five regional hydrogen facilities in the U.S., operational by 2024 with a total capacity of 100 tons per day. Plug Power aims to become a leader in the green hydrogen economy, collaborating with partners to reduce hydrogen costs and support decarbonization in transportation.

Plug Power announced an upsized public offering of 38 million shares at $22.25 each, with a 30-day option for underwriters to purchase an additional 5.7 million shares. The offering, set to close around November 19, 2020, is made under an SEC registration statement. This move aims to support Plug Power's growth in the hydrogen fuel cell market, where it has already deployed over 38,000 systems. Morgan Stanley serves as the sole book-runner for this transaction.

Plug Power Inc. (NASDAQ: PLUG) announced a registered public offering of $750 million in common stock, aiming to empower its business growth. The offering includes a 30-day underwriter option for an additional $112.5 million in shares. Morgan Stanley will act as the sole underwriter. The proceeds will be allocated for working capital, capital expenditures, potential acquisitions, and strategic opportunities. The offering is registered under an automatic shelf registration statement with the SEC, ensuring compliance and transparency for investors.

Plug Power Inc. (NASDAQ:PLUG) reported its third quarter results for 2020, showcasing its leadership in hydrogen engine solutions. The company has deployed over 35,000 fuel cell systems globally and is the largest buyer of liquid hydrogen in North America. Plug Power continues to expand into key markets such as zero-emission vehicles and data centers, leveraging its comprehensive GenKey solution for clients like Amazon and Walmart. The quarterly results and shareholder letter are available on their investor relations page.

Plug Power Inc. (NASDAQ:PLUG) will announce its third quarter results for 2020 on November 9, 2020. The announcement will be accompanied by a live conference call and webcast scheduled for 10:00 am ET. Interested parties can join by dialing 877-405-1239 or 201-389-0851. Plug Power is a leader in zero-emission hydrogen engines and fueling solutions, having deployed over 35,000 fuel cell systems globally. The company is focused on expanding into markets such as zero-emission vehicles and data centers, emphasizing efficiency and sustainability.

Plug Power has expanded its European product portfolio with three new CE-certified GenDrive fuel cell solutions, bringing the total to 15 products. The additions include the GenDrive 1600-80H CE for class-1 trucks, GenDrive 3342-24 CE for class-3 trucks, and GenDrive 6100-48 CE for automated guided vehicles. These products, developed over the past year, promise seamless replacement for existing battery systems, enhancing operational efficiency. With initial orders from major automotive brands like BMW and Daimler, Plug Power aims to strengthen its position in the European market.

Plug Power (NASDAQ: PLUG) is at the forefront of promoting the McKinsey study titled 'Road Map to a US Hydrogen Economy.' As the largest user of liquid hydrogen in the US, Plug Power aims to impact key sectors like transportation and power generation. The study predicts hydrogen demand could reach 17 million metric tons by 2030. Plug Power is committed to accelerating the transition to zero-carbon hydrogen solutions, planning to build green hydrogen plants starting Q4 2020. Industry leaders including Plug Power are participating in a series of virtual events to discuss the study's findings.

Plug Power Inc (NASDAQ: PLUG) appointed Corine Dubruel as Vice President and Managing Director for Europe to enhance its market presence and oversee growth in hydrogen fuel solutions. Dubruel brings extensive experience from leading companies such as ENGIE and General Electric, having achieved significant revenue growth in previous roles. Her focus will be on expanding Plug Power's strategic partnerships and advancing hydrogen initiatives in Europe, aligning with the region's climate goals. The company aims to accelerate hydrogen technology adoption under her leadership.

Plug Power (NASDAQ: PLUG) announced a memorandum of understanding with Linde to demonstrate its ProGen fuel cell engine in Class 6 and Class 8 vehicles, set to be operational in early 2021. The ProGen engine, suitable for heavy-duty applications, offers faster fueling and extended range compared to battery electric vehicles. Plug Power aims to decarbonize hydrogen production, targeting over 50% green hydrogen usage by 2024. The company has deployed over 35,000 fuel cell systems globally and is expanding into key markets like zero-emission vehicles and robotics.