Plug Power

company

About

Plug Power is a provider of clean hydrogen and zero-emission fuel cell solutions.

Details

Last Funding Type
Grant
Last Funding Money Raised
$454.56K
Industries
Energy,Fuel Cell,Industrial,Manufacturing,Oil and Gas
Founded date
Jan 1, 1997
Number Of Employee
1001 - 5000
Operating Status
Active
Stock Symbol
nasdaq:PLUG

Plug Power is a hydrogen and fuel cell company that provides clean hydrogen and zero-emission fuel cell solutions.

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 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 was founded in 1997 and based in Latham, New York.

Funding Rounds

Number of Funding Rounds
Total Funding Amount
36
$5.53B
Plug Power has raised a total of $5.53B in funding over 2 rounds. Their latest funding was raised on Feb 9, 2021 from a Post-IPO Equity round.
Announced Date Round Money Raised Number of Investors Lead Investors Post Valuation
Feb 9, 2021 Post-IPO Equity $2B Detail
Jan 6, 2021 Post-IPO Equity $1.50B 1 SK Group Detail
Nov 24, 2020 Post-IPO Equity $1B Detail
May 13, 2020 Post-IPO Equity $200M Detail
Apr 3, 2019 Post-IPO Debt $100M 1 Generate Capital Detail

Investments

Number of Investments
Number of Lead Investments
2
0
Plug Power has made 2 investments. Their most recent investment was on Oct 14, 2021, when Universal Hydrogen raised $62M.
Date Company Name
Round Money Raised Industry Lead Investor
Series B $62M Aerospace
Series A $20.50M Aerospace

Investors

Number of Lead Investors
Number of Investors
12
14
Plug Power is funded by 14 investors. SK Group and Generate Capital are the most recent investors.
Investor Name Lead Investor Funding Round
SK Group Yes Post-IPO Equity
Generate Capital Yes Post-IPO Debt
New York State Yes Post-IPO Debt
Hercules Capital Yes Post-IPO Debt
Air Liquide Yes Post-IPO Equity
Silicon Valley Bank Yes Post-IPO Debt
US Department of Energy Yes Grant
Interros Yes Post-IPO Equity
Norilsk Nickel Yes Post-IPO Equity
U.S. Department of Defense Yes Grant

Employee Profiles

Number of Employee Profiles
12
Plug Power has 12 current employee profiles, including Executive Matthew Sweetland
Executive
Executive
Employee
Executive
Board member

Acquisition

Plug Power has acquired 8 organizations. Their most recent acquisition was Cellex Power Products on Mar 16, 2007. They acquired Cellex Power Products for 0.

Date Company Name
Industry Acquisition Type Price
Electronics acquisition Detail
Apr 2, 2014 ReliOn
Clean Energy acquisition $ 4M Detail
CleanTech acquisition Detail
Jun 11, 2019 EnergyOR
Developer Platform Detail
Jun 23, 2020 Giner ELX
Renewable Energy acquisition Detail