Le Lézard
Classified in: Science and technology, Business
Subject: EARNINGS

Plug Highlights Year of Strategic Growth and Advancements in Accelerating the Green Hydrogen Economy


LATHAM, N.Y., March 01, 2024 (GLOBE NEWSWIRE) -- Today, Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy announced its financial results and operational milestones for the quarter and fiscal year ended December 31, 2023. With a steadfast commitment to advancing the green hydrogen economy, the Company has achieved significant progress in revenue growth, operational efficiency, and strategic investments aimed at promoting global sustainability and energy independence.

Commercial and Operational Highlights

Financial Highlights

Strategic Achievements and CEO's Vision

Conference Call

Plug Power has scheduled a conference call today, March 1, at 8:30 am ET to review the Company's results for the fourth quarter of 2023. Interested parties are invited to listen to the conference call by calling 877-407-9221 / +1 201-689-8597.

The webcast can be accessed at:

https://event.webcasts.com/starthere.jsp?ei=1655050&tp_key=5d9634a1a2

A playback of the call will be available online for a period following the event.

About Plug

Plug is building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation, to help its customers meet their business goals and decarbonize the economy. In creating the first commercially viable market for hydrogen fuel cell technology, the Company has deployed more than 69,000 fuel cell systems and over 250 fueling stations, more than anyone else in the world, and is the largest buyer of liquid hydrogen.

With plans to operate a green hydrogen highway across North America and Europe, Plug built a state-of-the-art Gigafactory to produce electrolyzers and fuel cells and is developing multiple green hydrogen production plants targeting commercial operation by year-end 2028. Plug delivers its green hydrogen solutions directly to its customers and through joint venture partners into multiple environments, including material handling, e-mobility, power generation, and industrial applications.

For more information, visit www.plugpower.com.

Cautionary Note on Forward-Looking Statements

This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. ("Plug"), including but not limited to statements about Plug's cash management strategic initiative and the anticipated benefits from the implementation of such initiative; Plug's ability to deliver on its business and strategic objectives; Plug's expectations regarding its financial profile and market outlook, including its ability to capitalize on market opportunities; Plug's expectation that existing investments and prudent cash management will position it for sustainable growth and continued innovation in renewable energy; Plug's expectations regarding its projects and products, including its Georgia hydrogen plant, material handling products, stationary products, electrolyzer projects and new products in its energy business, and Plug's plans regarding its production plants and the timing of the development and commercial operation of such plants. 

You are cautioned that such statements should not be read as a guarantee of future performance or results as such statements are subject to risks and uncertainties. Actual performance or results may differ materially from those expressed in these statements as a result of various factors, including, but not limited to, the following: the risk that we may continue to incur losses and might never achieve or maintain profitability; the risk that we may not be able to raise additional capital to fund our operations and such capital may not be available to us on favorable terms or at all; the risk that we may not be able to expand our business or manage our future growth effectively; the risk that we may not be able to remediate the material weaknesses identified in internal control over financial reporting as of December 31, 2023, or otherwise maintain an effective system of internal control over financial reporting; the risk that global economic uncertainty, including inflationary pressures, fluctuating interest rates, currency fluctuations, and supply chain disruptions, may adversely affect our operating results; the risk that we may not be able to obtain from our hydrogen suppliers a sufficient supply of hydrogen at competitive prices or the risk that we may not be able to produce hydrogen internally at competitive prices; the risk that delays in or not completing our product and project development goals may adversely affect our revenue and profitability; the risk that our estimated future revenue may not be indicative of actual future revenue or profitability; the risk of elimination, reduction of, or changes in qualifying criteria for government subsidies and economic incentives for alternative energy products, including the Inflation Reduction Act; and the risk that we may not be able to manufacture and market products on a profitable and large-scale commercial basis. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Plug in general, see Plug's public filings with the Securities and Exchange Commission, including the "Risk Factors" section of Plug's Annual Report on Form 10-K for the year ended December 31, 2023 as well as any subsequent filings. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. We disclaim any obligation to update forward-looking statements except as may be required by law.

MEDIA CONTACT

Kristin Monroe

Allison+Partners

[email protected]



These press releases may also interest you

at 01:17
On April 16th, the Yiwu China Commodities City unveiled a new welcoming committee, comprising the region's top women entrepreneurs, to aid international buyers in sourcing local products. Over 120 skilled businesswomen from the committee will provide...

at 00:14
OKX, a leading crypto exchange by trading volume and a leading Web3 technology company, has issued updates for April 19, 2024. OKX...

18 avr 2024
DHGATE Group has won the "Best B2B Cross-Border E-Commerce Marketplace Company China 2024" award at the Global Business & Finance Magazine Awards. The award recognizes leading enterprises with innovation and leadership from various industries, and...

18 avr 2024
Vipshop Holdings Limited , a leading online discount retailer for brands in China ("Vipshop" or the "Company"), today announced that the Company has filed its annual report on Form 20-F that includes its audited financial statements for three years...

18 avr 2024
LEEF Brands, Inc. ("LEEF" or the "Company")  , a premier vertical cannabis operator, today announces that the holders of its 11.0% Secured Convertible Debentures due September 9, 2024 (the "September 9 Debentures") have approved proposed amendments...

18 avr 2024
SK Telecom today announced a collaboration with Aptos Labs, Brevan Howard, and Microsoft to deliver to the global financial market Aptos Ascend, a suite of end-to-end institutional solutions including a permissioned network and Digital Asset...



News published on and distributed by: