The Company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers. Plug Power’s vertically-integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs. As a result, the Company has deployed over 40,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power created the first commercially viable market for hydrogen fuel cell technology. ![]() The Company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while meeting sustainability goals. ![]() Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell turnkey solutions. ![]() “Our ability to raise $2B, the largest bought deal in the cleantech sector, signifies a vote of confidence by investors in our vision of becoming the leader in the Global Hydrogen Economy.” Plug Power is well positioned to be aggressive in 2021 and beyond, as we execute on our key targets in green hydrogen and global market expansion,” said Andy Marsh, CEO of Plug Power. The Company is building the necessary foundation to be an industry leader in the $10T hydrogen economy. Plug Power’s strong balance sheet allows the Company to accomplish its goals to become an undeniable leader in the hydrogen economy both organically and through strategic acquisitions. The green hydrogen generated by this network will support the mission to decarbonize the broader transportation and logistics industries, a mission shared by both Plug Power and its customers, and plans to execute on this strategy working with partners on a global basis. The Company is targeting multiple green hydrogen plants in North America by 2022, and recently announced its increased green hydrogen generation targets to 500 tons per day by 2025 and 1,000 tons per day before 2028. Plug Power is on track to build the first green hydrogen generation network across the United States. Successfully launch JVs with Renault and SK Group establishing a global footprintĬontinue to expand via partnerships, joint ventures and acquisitions in the hydrogen ecosystemĮxpand customer relationships across all businesses to achieve $750M in gross billings in 2022 This liquidity positions Plug Power to execute and accelerate it’s green hydrogen and overall growth strategy.Īccelerate expansion in green hydrogen generation business Proceeds from this transaction, and final closing of the partnership with SK Group, will bring the total cash balance to over $5B. This offering represents the third largest follow-on primary block trade with Morgan Stanley as a sole bookrunner in any market sector historically. This transaction signifies the largest bought deal in the cleantech sector. The shares were sold at a price to the public of $65 per share with net proceeds in excess of $2B. ![]() (NASDAQ: PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, today announced the completion of its previously announced upsized offering of 32,200,000 shares, which includes the underwriters option to purchase an additional 4,200,000 of its common stock. 09, 2021 (GLOBE NEWSWIRE) - Plug Power Inc. Ideally Positions the Company to Accelerate Global Growth Strategy
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