Plug Power (PLUG) maps profitability targets and hydrogen growth plans
Rhea-AI Filing Summary
Plug Power Inc. held its 2026 annual meeting of stockholders via public webcast, where CEO Jose Luis Crespo presented an overview of the business and its strategic plan. The company highlighted its focus on improving execution, strengthening its financial position, and pursuing disciplined, profitable growth.
Management reported achieving positive gross profit in Q4 2025 and approximately a 50% reduction in cash usage versus 2024, along with margin improvements across equipment, service, and hydrogen businesses. The presentation reiterated goals of being EBITDAS positive exiting 2026, achieving positive operating income exiting 2027, and reaching overall profitability exiting 2028.
Plug Power also emphasized growth in hydrogen-related solutions, citing over 74,000 GenDrive units installed across more than 280 locations, a portfolio of electrolyzer projects in Europe and the UK, and a hydrogen plant network in Georgia, Louisiana, and Tennessee with stated live capacities based on nameplate design.
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8-K Event Classification
Key Figures
Key Terms
EBITDAS financial
Project Quantum Leap financial
FEED awards financial
final investment decision financial
sustainable aviation fuel financial
nameplate or designed capacity technical
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 7.01. | Regulation FD Disclosure. |
On June 11, 2026, Plug Power Inc. (the “Company”) will hold its 2026 annual meeting of stockholders starting at 10:00 a.m. Eastern Time. The meeting will be held via live audio webcast at www.virtualshareholdermeeting.com/PLUG2026 and will be open to the general public. At the meeting, Jose Luis Crespo, the Chief Executive Officer and President of the Company, will give a general corporate overview of the Company and discuss, among other things, the matters reflected in the presentation material, and stockholders of record will be given an opportunity to submit questions in writing. The presentation material that will be used at the meeting is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The information contained in this Item 7.01 and Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall the information contained in this Item 7.01 and Exhibit 99.1 be incorporated by reference into the Company’s filings under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such future filing.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit Number |
Title | |
| 99.1 | Annual Meeting Presentation, dated June 11, 2026 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Plug Power Inc. | ||
| Date: June 11, 2026 | By: | /s/ Paul Middleton |
| Name: Paul Middleton | ||
| Title: Chief Financial Officer and Chief Accounting Officer | ||
Exhibit 99.1
Copyright 2021, Plug Power Inc. Plug Power Annual Meeting Jose Luis Crespo, CEO and President June 11, 2026
2 This presentation contains forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 . These forward - looking statements include, but are not limited to, statements regarding the Company’s expectations, beliefs, plans, projections, and anticipated results of operations, including statements regarding cash usage ; liquidity ; asset monetization initiatives and the timing of such closings ; hydrogen production capacity, plant operations, and utilization ; project pipeline opportunities ; anticipated benefits of Project Quantum Leap ; the Company’s ability to achieve EBITDAS positive results in the fourth quarter of 2026 , positive operating income by the end of 2027 , and overall profitability by the end of 2028 ; anticipated revenue growth ; margin improvement targets across the Company's equipment, service, and hydrogen businesses ; adjusted earnings per share performance and expectations ; anticipated GenDrive material handling business expansion ; market demand opportunities arising from global energy security needs, industrial decarbonization mandates and initiatives, and rising power demand including from artificial intelligence infrastructure and data centers ; electrolyzer project development and execution, including international projects and progress toward final investment decision on strategic projects, FEED awards, and strategic partnerships, memoranda of understanding and project development opportunities ; and the Company's goal of delivering long - term shareholder value through disciplined capital allocation and profitable growth, including the potential benefits of hydrogen fuel cell deployments on electricity demand management and grid stability . Forward - looking statements are based on management’s current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements . These risks and uncertainties include, among others, the Company’s ability to achieve anticipated cost reductions and operational efficiencies ; improve margins and manage cash usage ; successfully execute its hydrogen production, liquefaction, logistics, and electrolyzer strategies ; secure and retain customer demand ; convert its project pipeline into revenue - generating projects ; complete asset monetization transactions on anticipated terms or timelines ; obtain financing or capital when needed ; respond to changes in government policies, incentives, regulations, and macroeconomic conditions ; execute on international electrolyzer and hydrogen projects within anticipated timelines and on anticipated terms ; and realize anticipated opportunities in developing markets such as sustainable aviation fuel and e - SAF . Investors are cautioned not to place undue reliance on these forward - looking statements, which speak only as of the date of this presentation . Plug undertakes no obligation to update or revise any forward - looking statements, whether as a result of new information, future events, or otherwise, except as required by law . For a further description of the risks and uncertainties that could cause actual results to differ materially from those expressed in these forward - looking statements, please refer to Plug’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10 - K for the fiscal year ended December 31 , 2025 and Quarterly Report on Form 10 - Q for the quarter ended March 31 , 2026 . Safe Harbor Statement
The focus is clear – improve execution, strengthen the financial position, and deliver long - term shareholder value through disciplined profitable growth .
4 Material Handling Electrolyzers Hydrogen Plants Strategic Priorities: Exiting 2026 : EBITDAS Positive Exiting 2027 : Operating Income Positive Exiting 2028 : Overall Profitability Plug Doing Real Things: Business Focus YE 2025: Gross Margin Neutral Execution and Growth Targets
5 Project Quantum Leap: Operational Foundation for the Path to Sustainable Profitability Effort to streamline operations, reduce structural costs, and improve execution across the business , while supporting continued growth To Date: x Positive gross profit in Q4 2025 x Approximately 50% reduction in cash usage versus 2024 x Significant margin improvement across equipment, service, and hydrogen businesses x Positive EBITDAS target in Q4 2026
6 Growth Remains a Central Priority Three global trends are increasing demand for hydrogen solutions Energy Security & Independence Industrial Decarbonization Rising Power Demand
8 8 GenDrive : Material Handling Value and Expansion 74,000+ installed and 280+ locations TH1
9 GenEco Electrolyzer Project Execution • 100 MW Galp Energia (Portugal) • 25 MW Iberdrola/BP (Spain) • 30 MW Carlton Power/Barrow Green (UK) ✓ Achieved FID ✓ First of Plug's 55 MW UK electrolyzer awards to move into execution Growth Pipeline • 275 MW FEED award with Hy2gen (Canada) • Allied Green Ammonia advancements in Uzbekistan x Tax incentive agreement progress x SAF/e - SAF MOU with Uzbekistan Airports Continued momentum toward FID on strategic projects
10 Plug Hydrogen Plant Network Georgia Live Capacity: 15TPD Louisiana Live Capacity: 15TPD Tennessee Live Capacity: 10TPD *”live capacity" refers to nameplate or designed capacity and not actual utilization
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13 Material Handling Electrolyzers Hydrogen Plants Strategic Priorities: Exiting 2026 : EBITDAS Positive Exiting 2027 : Operating Income Positive Exiting 2028 : Overall Profitability Plug Doing Real Things: Business Focus YE 2025: Gross Margin Neutral Execution and Growth Targets
