Plug Power

About

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

Latham,New York,United States
1001 - 5000
http://www.plugpower.com/

Highlights

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
Oct 14, 2021 Universal Hydrogen	Series B	$62M	Aerospace	—
Apr 22, 2021 Universal Hydrogen	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
Mar 16, 2007 Cellex Power Products	Electronics	acquisition	—	Detail
Apr 2, 2014 ReliOn	Clean Energy	acquisition	$ 4M	Detail
Jun 6, 2018 American Fuel Cell	CleanTech	acquisition	—	Detail
Jun 11, 2019 EnergyOR	Developer Platform	—	—	Detail
Jun 23, 2020 Giner ELX	Renewable Energy	acquisition	—	Detail