Plug Power

Plug Power

Develops hydrogen fuel cell technologies and solutions

About Plug Power

Simplify's Rating
Why Plug Power is rated
A+
Rated A on Competitive Edge
Rated A+ on Growth Potential
Rated A on Differentiation

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.

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Funded Recently
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Simplify's Take

What believers are saying

  • Increased demand for green hydrogen boosts Plug Power's market potential.
  • EU's Green Deal opens new opportunities in Europe for Plug Power.
  • Collaborations with automotive manufacturers expand Plug Power's market reach.

What critics are saying

  • SK Corp's exit indicates potential instability and investor confidence issues.
  • Recent layoffs suggest financial instability and operational challenges for Plug Power.
  • Market volatility poses valuation challenges for Plug Power in the hydrogen sector.

What makes Plug Power unique

  • Plug Power leads with over 40,000 fuel cell units deployed globally.
  • The company offers comprehensive solutions like GenKey and GenCare for hydrogen energy needs.
  • Plug Power's joint venture with Olin enhances its hydrogen liquefaction capabilities.

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Funding

Total Funding

$9717.6M

Above

Industry Average

Funded Over

3 Rounds

Post IPO Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Debt Funding Comparison
Coming Soon

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

Headcount

6 month growth

↑ 0%

1 year growth

↑ 0%

2 year growth

↑ 2%
Fuel Cells Works
Apr 28th, 2025
Plug Power Secures $525M Credit Facility, Reports Strong Q1 2025 Results | Fuel Cells Works

Plug Power announces a $525 million secured credit facility and reports strong preliminary Q1 2025 results, including revenue of $130-$134 million.

PR Newswire
Apr 17th, 2025
Hidrogenii, An Olin And Plug Joint Venture, Commissions 15 Ton Per Day Hydrogen Liquefaction Plant In Louisiana

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

Energy News
Apr 11th, 2025
SK Corp's $3.85B Exit as Hydrogen Ambitions Fizzle in a Volatile 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.

Republican Investor
Apr 2nd, 2025
Green Energy Company on Brink of Bankruptcy Months After Winning $375 Million Biden Loan

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.

CBS 6 Albany
Mar 31st, 2025
Plug Power to lay off 261 workers in New York due to economic reasons

Plug Power to lay off 261 workers in New York due to economic reasons.

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