Plug Power

Plug Power

Develops hydrogen fuel cell solutions for businesses

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 Rating 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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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

Post IPO Equity funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Equity 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%
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.

Slater Sentinel
Mar 29th, 2025
Modern Wealth Management LLC Makes New $64,000 Investment in Plug Power Inc. (NASDAQ:PLUG)

Modern Wealth Management LLC makes new $64,000 investment in Plug Power Inc. (NASDAQ:PLUG).

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