Plug Power Hosts 2021 Plug Symposium
Company provides long-term 2025 guidance of $3B, and updated 2022 sales guidance of $825-850M
LATHAM, N.Y., Oct. 14, 2021 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, is today holding its third annual Plug
Symposium. Featuring more than two dozen global presenters, executives and thought leaders, this year’s event has attracted a record 5,000 attendees from around the world.
Built around the theme of “Here Comes Green Hydrogen”, Plug Power executives will showcase the company’s progress in building a green hydrogen ecosystem, and will unveil new partnerships and product offerings that will help its global customers achieve their business and sustainability goals.
Symposium highlights include:
- Establishing long-term 2025 guidance of $3 billion in annual sales
- Updating 2022 sales guidance to $825-850 million, 65% growth over 2021
- Executing a definitive agreement to acquire Applied Cryo Technologies, a leading provider of technology, equipment and services for the transportation, storage and distribution of liquified hydrogen, oxygen, argon, nitrogen and other cryogenic gases
- Announcing partnership with Fortescue Future Industries for a 50-50 joint venture to build a Gigafactory in Queensland, Australia
- Unveiling HyVia hydrogen fuel cell-powered van prototype in North America, to be highlighted in remarks from Luca de Meo, CEO of Renault Group, Plug Power JV partner
- Confirming plan for 500 tons per day of liquid green hydrogen generation capacity by the end of 2025, which will include installing 13 green hydrogen plants by the end of 2025
- Projecting ambitious electrolyzer sales of over 100 megawatts (MW) by 2022, which will generate 50 tons per day of green hydrogen
“I’d like to thank our presenters and our thousands of guests who will be committing their time to attending the 2021 Plug Symposium,” said Andy Marsh, CEO of Plug Power. “The promise of green hydrogen is here today - driven by Plug Power’s innovation and the vision of our customers.”
About Plug Power
Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell 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 meeting sustainability goals. Plug Power created the first commercially viable market for hydrogen fuel cell technology. As a result, the Company has deployed over 50,000 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. Learn more at www.plugpower.com.