Growth stocks overall had a great recovery year in 2023, but that wasn't the case for Plug Power (PLUG -4.46%). Shares struggled as losses mounted and the company itself questioned if it would survive without more funding.In this video, Travis Hoium highlights the challenge for Plug Power and explains why this may not be a good place for your money in 2024.*Stock prices used were end-of-day prices of Dec. 28, 2023. The video was published on Dec. 31, 2023. ...

Skyrocketing as much as 1,000% in 2020, Plug Power (PLUG -1.46%) seemed unstoppable a few years ago. Between the company's newly formed partnerships and management's auspicious five-year outlook, investors' enthusiasm for the fuel cell stock appeared to know no bounds.But it seems that those bounds have, in fact, been discovered in the last couple of years. In 2022, shares of Plug Power plunged 56%, and in 2023, shares have fallen even more precipitously -- about 63%. Should investors who believed the bandw ...

LATHAM, N.Y., Dec. 27, 2023 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, completed the installation and commissioning of an electrolyzer system at an Amazon fulfillment center in Aurora, Colorado. The one-megawatt (MW) proton exchange membrane electrolyzer is the first for Amazon and is producing low-carbon hydrogen to fuel more than 225 hydrogen fuel cell-powered forklift trucks at the site, known as DEN8. The Plug 1M ...

Plug Power Inc. (NASDAQ:PLUG) Q3 2023 Earnings Conference Call November 9, 2023 4:30 PM ET Company Participants Teal Hoyos - Senior Director of Marketing and Communications Andrew Marsh - CEO Paul Middleton - CFO Sanjay Shrestha - Chief Strategy Officer Conference Call Participants Colin Rusch - Oppenheimer Manav Gupta - UBS William Peterson - JP Morgan Chris Dendrinos - RBC Capital Markets Jordan Levy - Truist Securities George Gianarikas - Canaccord Genuity Eric Stine - Craig-Hallum Ameet Thakker - BMO Ca ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 1-34392 PLUG POWER INC. (Exact name of registrant as specified in its charter) Delaware 22-3672377 (State or ...

Summary of Plug Power Inc. Conference Call on Liquid Hydrogen Company Overview - **Company**: Plug Power Inc. (NASDAQ: PLUG) - **Industry**: Hydrogen production and liquefaction - **Event**: Conference Call on September 27, 2023 Key Points Industry Insights - **Emerging Market**: Liquid hydrogen is identified as an emerging market with significant potential for growth [5][6] - **Hydrogen Demand Growth**: Projected demand for hydrogen is expected to increase significantly, particularly in heavy-duty industries such as mining, aviation, and commercial transportation [11][15] - **Transportation Efficiency**: Liquid hydrogen offers lower transportation costs compared to gaseous hydrogen, with one liquid hydrogen tanker capable of delivering the same amount as eight gas tube trailers [9][10] Company Strategy and Operations - **Vertical Integration**: Plug Power is pursuing a vertical integration strategy to build out its own hydrogen infrastructure, aiming to reduce the delivered price of hydrogen [6][7] - **Production Goals**: The company has set a target to produce 1,000 tons of hydrogen per day by 2028 [7] - **Current Operations**: Plug Power operates over 200 private fueling stations and dispenses over 40 tons of hydrogen daily [6] Product Development - **Hydrogen Liquefaction Facilities**: Plug Power is constructing several hydrogen production facilities, including: - Camden County, Georgia: 15 tons per day capacity - Port of Antwerp: 35 tons per day capacity - Genesee County, New York: 75 tons per day capacity, expected to be the world's largest [25][26] - **Innovative Technology**: The company utilizes gaseous refrigerants in its liquefaction process, allowing for faster ramp-up and turn-down capabilities, reducing operational risks [22][21] Market Demand Projections - **Incremental Demand by 2030**: Estimated incremental demand for hydrogen in the U.S. is projected to be around 1,300 tons per day, driven by various sectors including transit buses and Class 8 vehicles [14][16] - **Global Market Outlook**: The global demand for low carbon hydrogen for road transport is expected to reach approximately 8,500 tons per day by 2033 [16] Cost Considerations - **Cost Drivers**: Major cost drivers for liquid hydrogen include electricity for electrolysis, capital costs of production facilities, and transportation costs [92] - **Efficiency Improvements**: Plug Power estimates that its integrated solutions can save approximately 5% to 10% in total installed costs and levelized cost of hydrogen [34] Regulatory and Market Influences - **Government Incentives**: The growth of the hydrogen market is influenced by government incentives, regulatory policies, and the availability of supply [15][16] - **Market Indicators**: Key indicators for monitoring hydrogen demand growth include public policy changes, OEM commitments to fuel cell technology, and regional market dynamics [83][84] Safety and Environmental Considerations - **Hydrogen Safety**: Hydrogen is managed with safety protocols including isolation and ventilation to mitigate explosive risks [75][76] - **Sustainability**: Plug Power aims to utilize various clean energy sources for hydrogen production, emphasizing the importance of carbon intensity in energy sourcing [88][89] Future Developments - **Portable Refueler**: A new portable refueler is in development, aimed at providing flexible fueling solutions for fleet owners [46][32] - **Market Expansion**: Plug Power is expanding its operations into Europe and Asia, with plans to increase the number of hydrogen refueling stations [31] Conclusion Plug Power is positioning itself as a leader in the hydrogen market through innovative technology, strategic infrastructure development, and a focus on sustainability. The company anticipates significant growth in hydrogen demand across various sectors, driven by regulatory support and technological advancements.

Plug Power Inc. (NASDAQ:PLUG) Q2 2023 Results Conference Call August 9, 2023 5:00 PM ET Company Participants Teal Hoyos - Senior Director of Marketing and Communications Andy Marsh - CEO Paul Middleton - CFO Sanjay Shrestha - Chief Strategy Officer Conference Call Participants Bill Peterson - JP Morgan Eric Stine - Craig-Hallum James West - Evercore ISI Manav Gupta - UBS Colin Rusch - Oppenheimer Jeff Osborne - TD Cowen Ameet Thakker - BMO Capital Amit Dayal - H.C. Wainwright Greg Lewis - BTIG Kashy Harriso ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 1-34392 PLUG POWER INC. (Exact name of registrant as specified in its charter) Delaware 22-3672377 (State or Other ...

Summary of Plug Power Inc. Conference Call Company Overview - **Company**: Plug Power Inc. (NASDAQ: PLUG) - **Industry**: Green Hydrogen and Fuel Cell Technology - **Event**: Evercore ISI Global Clean Energy & Transition Technologies Summit - **Date**: June 16, 2023 Key Points and Arguments 1. **Transition to Green Hydrogen Ecosystem**: Plug Power is evolving from a traditional fuel cell manufacturer to an end-to-end green hydrogen ecosystem provider, covering production, storage, delivery, and energy generation [1][2] 2. **Market Leadership**: The company has deployed over 60,000 fuel cell systems for E-Mobility, making it the largest buyer of liquid hydrogen globally [2] 3. **Production Capacity Goals**: Plug Power aims to produce 500 tons of liquid green hydrogen daily by 2025 through its gigafactory and multiple production plants [2] 4. **Vertical Integration**: The company has become vertically integrated to control costs and pricing, having built its own fueling stations and hydrogen production facilities [6][7] 5. **Revenue Diversification**: In 2023, 25% of revenue is expected to come from Europe, with 60% from other markets, indicating a shift from a US-centric business model [8] 6. **Market Opportunity**: The hydrogen market is projected to be a multi-trillion dollar opportunity, with estimates suggesting hydrogen could account for 10% to 23% of global energy by 2030 [11][12] 7. **Electrolyzer Production**: Plug Power has a production line capable of supporting 2.5 gigawatts of electrolyzer capacity, with expectations to increase to 7.5 gigawatts annually [13] 8. **Partnerships**: The company has established joint ventures with major players like SK in South Korea and Renault in Europe, enhancing its market reach [15] 9. **Data Center Opportunities**: Plug Power is working with major tech companies like Microsoft and Amazon to provide hydrogen solutions for data centers, which are expected to double by 2027-2028 [16][17] 10. **Path to Profitability**: The company anticipates being gross margin positive in 2023, with projections of generating between $40 million to $120 million in gross margin dollars [43] Additional Important Insights 1. **Hydrogen Transportation Costs**: Transportation of liquid hydrogen is significantly cheaper than gas form, costing about $0.20 to move liquid hydrogen 100 miles [42] 2. **Government Support**: The Inflation Reduction Act (IRA) is expected to drive demand for green hydrogen through tax credits, with a $3 tax credit per kilogram for hydrogen production [34] 3. **European Market Dynamics**: The EU market presents challenges and opportunities, with potential subsidies and a focus on reducing capital costs for hydrogen projects [37][39] 4. **Focus on Customer Needs**: Plug Power emphasizes listening to customer needs and adapting its offerings accordingly, which has been a key driver of its innovation [17][20] 5. **Execution and Management**: The company has brought in experienced personnel from the oil and gas industry to manage large-scale projects effectively [24][25][26] This summary encapsulates the critical insights from the conference call, highlighting Plug Power's strategic direction, market opportunities, and operational capabilities in the green hydrogen sector.

Financial Data and Key Metrics Changes - The company expects to achieve $1.4 billion in revenue for 2023, which represents an 80% increase compared to the previous year, with a gross margin of approximately $140 million [7][10][11] - If certain targets are not met, revenue could be around $1.2 billion with a gross margin of about $50 million [10] Business Line Data and Key Metrics Changes - The application business has shown stability with less variability compared to previous years, indicating a more predictable revenue stream [11] - The company is focused on scaling its electrolyzer systems and expects to ship 275 megawatts of these systems, contributing significantly to revenue [10][44] Market Data and Key Metrics Changes - The company is engaged in multiple hydrogen hubs across the U.S., with expectations for significant capital allocation from the DOE starting in late 2025 or early 2026 [22][23] - There are ongoing negotiations for large-scale project opportunities in the U.S., Europe, and Asia Pacific, representing a potential backlog of over 1 gigawatt [29] Company Strategy and Development Direction - The company aims to execute its growth strategy by commissioning additional plants in Texas, New York, and Louisiana, with a focus on establishing itself as a leader in green hydrogen production [7][8] - The company emphasizes the importance of government policies, such as the IRA and the European Renewable Energy Directive, in shaping its business environment and growth opportunities [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the revenue target of $1.4 billion, citing strong demand for electrolyzer systems and a stable application business [10][11] - The management highlighted the importance of clarity in regulations related to the IRA, which could significantly impact future demand and project financing [51] Other Important Information - The company is focused on non-dilutive financing options and has received interest from various investors for its hydrogen plants [8][48] - The company plans to maintain a capital expenditure target of approximately $1 billion for the year, primarily for green hydrogen platforms [56] Q&A Session Summary Question: Impact of IRA on plant qualification for tax credits - Management believes that the IRA's primary focus on jobs and climate will favorably influence the company's operations and eligibility for tax credits [15][16] Question: Operating expenses and guidance for 2023 - Operating expenses are expected to be in the range of $125 million to $130 million per quarter, with the first quarter slightly above this range due to better-than-expected performance from acquisitions [18][19] Question: Role in hydrogen hubs and capital allocation - The company is actively engaged in various hydrogen hubs and expects capital allocation to begin in late 2025 or early 2026 [22][23] Question: Details on large-scale project opportunities - The company is in the final stages of negotiating large-scale projects in the U.S., Europe, and Asia Pacific, with significant potential backlogs [29] Question: CapEx and financing options - The company confirmed a target of $1 billion for CapEx in 2023, with ongoing discussions about various financing options, including DOE loans and asset-based lending [56][58] Question: Drivers for operational breakeven and positive cash flow - Management highlighted that increased equipment sales and improved margins from scaling operations will drive the company towards operational breakeven by the end of the year [70][71]