Full-Time
Updated on 9/10/2026
Produces hydrogen fuel cells and services
$24.50 - $25.50/hr
Baltimore, MD, USA
In Person
Travel is required for business needs.
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Plug Power provides hydrogen fuel cell systems and related services for clean energy. It sells hydrogen-powered fuel cell units and offers hydrogen supply, along with end-to-end services like GenKey, a turnkey deployment package, and GenCare maintenance. Its products work by converting hydrogen into electricity through fuel cells, enabling zero-emission power for logistics, manufacturing, and transportation. The company differentiates itself by offering a complete, integrated solution: a large installed base (over 40,000 fuel cell units), an extensive network of hydrogen refueling stations, and comprehensive support and hydrogen supply under one roof. Its goal is to help customers reduce their carbon footprint and transition to sustainable, hydrogen-based energy across industries.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Town of Colonie, New York
Founded
1997
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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
Plug Power shares have risen 10.1% year-to-date but lag behind the industry's 37.5% return and the S&P 500's 12.2% gain. Competitors Bloom Energy and FuelCell Energy have surged 191% and 104.5%, respectively, over the same period. The company's total net revenues increased to $341.8 million in the first half of 2026 from $307.6 million in the prior-year period. Services revenues rose 55.9% year over year to $51.8 million, whilst power purchase agreement revenues grew 13.6% to $53.2 million. Plug Power secured significant electrolyzer orders, including a 50-megawatt system for Orica's Hunter Valley Hydrogen Hub in Australia. However, the company reported a net loss of $433.5 million in the first six months of 2026, up from $423.8 million in the prior-year period.
Plug Power's electrolyzer demand signals long-term growth potential in hydrogen market. Key points. * Plug Power's electrolyzer revenues reached $54.1 million in early 2026, maintaining demand. * Strong government backing in Europe fosters the growth of green hydrogen projects. * Plug Power secured significant orders for large-scale hydrogen projects in Australia and the UK. * Despite some financial challenges, the growth in electrolyzer demand indicates a positive outlook. Plug Power Inc. is witnessing a robust demand for its electrolyzer product line, which is emerging as a primary driver of the company's growth in the green hydrogen sector. In the first half of 2026, Plug Power generated $54.1 million in revenues from its electrolyzer sales, a figure consistent with the previous year despite variations in project timelines. The demand for the company's GenEco proton exchange membrane (PEM) electrolyzers remains strong across various industries, including refining, chemicals, steel, fertilizer, and commercial refueling. This consistent demand is bolstered by supportive policies in Europe, where government investments are accelerating the adoption of green hydrogen technologies. Notably, in July 2026, Plug Power secured a major order for a 50-megawatt (MW) GenEco electrolyzer for Orica's Hunter Valley Hydrogen Hub in Australia, marking it as the country's largest renewable hydrogen project to reach a final investment decision (FID). Furthermore, in May 2026, the 30-MW Barrow Green Hydrogen Project in the UK also reached FID, with Plug Power set to supply six 5-MW GenEco PEM electrolyzers for this facility. Such projects significantly enhance Plug Power's status as a key supplier of large-scale green hydrogen solutions. Despite facing challenges such as negative gross margins, operating losses, and cash outflows - which could affect its near-term performance - the growing demand for electrolyzers and initiatives like the Quantum Leap project are expected to support Plug Power's long-term growth trajectory. These developments reflect a positive sentiment towards the company's potential in the green hydrogen market. In comparison to its peers, Plug Power's stock has seen a notable increase of 19.3% over the past six months, significantly outpacing the industry average growth of 6.4%. The company's forward price-to-sales ratio stands at 3.26X, which is considerably lower than the industry average of 12.49X, indicating potential undervaluation. Nonetheless, the Zacks Consensus Estimate for Plug Power's bottom line has decreased in recent months, and the company currently holds a Zacks Rank #3 (Hold). Overall, the outlook for Plug Power appears promising, supported by the rising demand for its electrolyzer products in the expanding green hydrogen market, which is expected to play a critical role in the energy transition and sustainability efforts globally. September 1, 2026 at 10:10 AM Australia, United Kingdom
Plug Power has raised approximately $128 million through recent financing activities and asset sales, yet its share price remains 54% below October highs as investors await evidence of operational turnaround. The hydrogen specialist secured $52 million via financing initiatives in July and August, plus $76.5 million from selling a Texas project. The company reduced net cash consumption to $61 million in the second quarter and targets EBITDA breakeven in the fourth quarter. Gross margins improved significantly from negative 31% year-over-year, whilst operating costs halved and cash burn dropped 58% quarter-over-quarter. However, rising US Treasury yields reaching 5.33%—the highest since 2007—present headwinds for capital-intensive growth companies. The stock trades below both its 50-day and 200-day averages, though it has rallied 57% from September lows. Plug Power lifted its 2026 revenue growth forecast to 15–16%.
Plug Power is showing signs of improvement under new CEO Jose Luis Crespo, but the turnaround may be slower than Wall Street expects. The hydrogen company narrowed its quarterly loss to $188 million from a $1.7 billion annual loss in 2025. Gross profit reached negative $1.7 million, improving from a $53.5 million loss the previous year. The company secured its largest order ever: a 275-PEM electrolyser system for Canadian conglomerate Hy2gen. Revenue is growing double digits due to strong GenEco hydrogen fuel system demand. Wall Street analysts set an average 12-month price target suggesting 40% upside, with two forecasting gains up to 205%. However, the fundamental challenge remains: hydrogen is uneconomic compared to natural gas, wind, and solar, limiting long-term industry growth prospects.
Hydrogen fuel cell news: Microsoft and Plug Power test 3 MW backup system for hydrogen data centers. Plug Power and Microsoft tested a 3 MW hydrogen fuel cell backup prototype that matched diesel performance in simulated data center outages, emitting only water and heat at the point of use. Keeping data centers up and running is crucial because every single app, transaction, and AI operation relies on constant power. For years, diesel generators were the go-to backup solution, but those come with a hefty environmental cost - lots of CO[2] emissions and other pollutants, which are at odds with our sustainability goals. Enter the exciting pilot project from Plug Power and Microsoft. They're trialing a slick 3 MW hydrogen fuel cell system as a direct replacement for those old diesel generators. This setup, located in two 40-foot containers at Plug Power's facility in Latham, is designed to match the performance and... How was this article?