Plug Power Inc.

Plug Power Inc. is an American company engaged in the development of hydrogen fuel cell and electrolyzer systems, aiming to build a global hydrogen ecosystem and lead the green hydrogen revolution. The company's mission is to help transition the world to a net-zero economy by making hydrogen an economical, accessible, and widespread zero-carbon energy source. Headquartered in Latham, New York, Plug Power provides comprehensive hydrogen solutions from production to power generation.

Plug Power offers a diverse portfolio of products and services, including GenDrive hydrogen-fueled PEM fuel cell systems for material handling electric vehicles like forklifts, and GenFuel for liquid hydrogen fueling, delivery, generation, storage, and dispensing. Other key offerings include GenCare for maintenance, GenKey turn-key solutions, GenEco electrolyzers for clean hydrogen production, liquefaction systems, cryogenic equipment, and GenSure stationary fuel cell solutions. The company serves various market segments, including material handling operations for major customers such as Amazon and Walmart, fuel cell electric vehicle fleets, and stationary power applications.

In March 2026, Jose Luis Crespo assumed the role of Chief Executive Officer, succeeding Andy Marsh, who transitioned to chairman. Crespo's leadership is focused on enhancing execution, operational discipline, and financial performance. Recent notable developments include the completion of commissioning for a 5 MW GenEco PEM electrolyzer system at European Energy's Måde Power-to-X facility in Denmark in June 2026, which will produce green hydrogen. The company also secured a contract to supply a 275 MW GenEco PEM electrolyzer system for Hy2gen Canada's project in Quebec in April 2026 and reported 22% revenue growth in Q1 2026. Plug Power is targeting positive EBITDAS by the end of 2026, positive operating income by the end of 2027, and full profitability by the end of 2028.