Plug Power Exceeds 2020 Guidance and Raises Targets for 2021 and 2024

Company to hold business update call at 8:30 am ET

LATHAM, N.Y., Jan. 26, 2021 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, exits 2020 with a global leadership position in green hydrogen solutions for the $10T+ hydrogen economy. Plug Power has exceeded its 2020 gross billings target and is raising 2021 estimates to $475M, up from $450M. Additionally, the Company is increasing the 2024 gross billings target by more than 40% to $1.7B.

Plug Power will host a business update conference call today, January 26, to discuss the updated guidance and its key areas of focus in 2021.

Join the call:

Date: January 26, 2021

Time: 8:30 am ET

Toll-free: 877-405-1239

Direct webcast: https://event.webcasts.com/starthere.jsp?ei=1417059&tp_key=03b1210 ...

The webcast can also be accessed directly from the Plug Power homepage (www.plugpower.com). A playback of the call will be available online for a period of time following the call.

About Plug Power

Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions. The Company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while providing efficiency gains and meeting sustainability goals.

Plug Power created the first commercially viable market for hydrogen fuel cell (HFC) technology. As a result, the Company has deployed over 40,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs. Plug Power’s vertically integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. The Company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers.