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About Plug Power
Industries
Energy
Biotechnology
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Town of Colonie, New York
Founded
1997
Overview
Plug Power focuses on providing sustainable energy solutions through green hydrogen and fuel cell technologies. Their products include hydrogen fuel cells and comprehensive services like GenKey turnkey solutions and GenCare aftermarket support. These fuel cells work by converting hydrogen into electricity, which can power various applications, particularly in logistics, manufacturing, and transportation. What sets Plug Power apart from competitors is their extensive experience, with over 40,000 fuel cell units deployed and numerous hydrogen refueling stations established. The company's goal is to help businesses reduce their carbon footprint and transition to cleaner energy sources.
Simplify's Take
What believers are saying
- Expansion in Europe and partnerships with aviation could open new market opportunities.
- The U.S. Hydrogen Shot initiative may boost Plug Power's competitiveness significantly.
- Corporate sustainability commitments from giants like Amazon could drive demand for Plug's solutions.
What critics are saying
- SK Corp's exit highlights volatility and valuation challenges in the hydrogen market.
- Recent layoffs in New York suggest potential financial instability within Plug Power.
- Plug Power's stock has lost about 99% of its value since its IPO, indicating market challenges.
What makes Plug Power unique
- Plug Power is a leader in the green hydrogen economy with over 40,000 units deployed.
- The company offers comprehensive solutions, including GenKey, GenCare, and hydrogen services.
- Plug Power's joint venture with Olin enhances its hydrogen liquefaction capabilities in North America.
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Funding
Total Funding
$9192.6M
Above
Industry Average
Funded Over
3 Rounds
Benefits
Health Insurance
Dental Insurance
Vision Insurance
401(k) Retirement Plan
401(k) Company Match
Performance Bonus
Paid Vacation
Paid Sick Leave
Paid Holidays
Wellness Program
Professional Development Budget
Mental Health Support
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 0%2 year growth
↑ 2%Hydrogen Capture Enhances Sustainability and Profitability of Olin's St. Gabriel FacilityPlug US Hydrogen Capacity now at 40 metric-ton-per-day (TPD)CLAYTON, Mo., April 17, 2025 /PRNewswire/ -- Olin Corporation (NYSE: OLN) announced today that Hidrogenii, the joint venture between Olin and Plug Power Inc. (NASDAQ: PLUG), commissioned its 15 TPD hydrogen liquefaction plant in St. Gabriel, Louisiana. Among the largest electrolytic hydrogen liquefaction facilities in North America, the site marks a major milestone in strengthening the regional hydrogen supply chain and accelerating the U.S. transition to low-carbon energy.The newly commissioned facility will liquify hydrogen produced by Olin for trailer shipments across the U.S., serving Plug's material handling customers and utilizing Plug's novel spot pricing market
The Group invested $1.6 billion in 2021 in American hydrogen firm Plug Power for a 9.6% stake, only to see its market capitalization dwindle to $1.1 billion - a stark example of market volatility and valuation challenges in emerging technologies.
Plug Power, a battery company that was approved for a $1.6 billion loan guarantee in the final week of the Biden administration, announced it was laying off over 200 workers in New York last week.
Plug Power to lay off 261 workers in New York due to economic reasons.
Modern Wealth Management LLC makes new $64,000 investment in Plug Power Inc. (NASDAQ:PLUG).
Plug Power is Hiring for 1 Jobs on Simplify!
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About Plug Power
Industries
Energy
Biotechnology
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Town of Colonie, New York
Founded
1997
Plug Power is Hiring for 1 Jobs on Simplify!
Find jobs on Simplify and start your career today