Latest news with #Plug
Yahoo
22-05-2025
- Business
- Yahoo
A Key Insider Loaded Up on Plug Power Stock; Should Investors Follow His Lead?
Plug Power is a fuel cell manufacturer that also operates hydrogen production assets. Paul Middleton, Plug Power's CFO, reported a large acquisition of stock on the open market. Investors will likely suffer shareholder dilution in the future as the company is unprofitable and unable to generate cash organically. 10 stocks we like better than Plug Power › It's been a rough road for Plug Power (NASDAQ: PLUG) stock so far in 2025. Since the start of the year, shares have plummeted more than 62% as of this writing, so it's abundantly clear that the bears are more enthusiastic about the fuel cell and hydrogen stock's prospects than the bulls. But one company insider thinks that the market has it wrong. In fact, he's so optimistic about the stock's prospects that he made a large buy on the open market recently to illustrate his faith. Is this the signal that investors have been waiting for to indicate that now's the time to power their portfolios with Plug? In an effort to communicate his faith in Plug's financial strength, Paul Middleton, the company's chief financial officer, announced on Monday that he had acquired 350,000 shares of Plug stock in an open-market transaction valued at about $250,000 on May 16. Addressing the stock buy, Middleton stated: I remain confident in Plug's long-term strategy and the opportunities ahead as we continue to execute our vision in the hydrogen economy. This purchase reflects my belief in the company's financial strength and growth potential. The transaction followed shortly after Plug reported first-quarter 2025 financial results on May 12. As a result of this acquisition, Middleton has grown his position in Plug stock to 1,908,064 shares, or 0.32% of the company's outstanding shares. Middleton's transaction is the only open market buy of Plug stock by an insider in more than six years. Investors usually interpret insiders' stock buys as auspicious signs that good things are on the horizon for the companies involved. However, most occurrences of insiders acquiring stock on the open market are not accompanied with a press release like it was with Middleton's recent purchase. Sometimes silence speaks louder than words, and Middleton's insistence that the company is on sound financial footing is insufficient. Instead, his purchase seems like a weak attempt to instill confidence in investors after the company reported Q1 2025 financial results. On the bright side, Plug reported revenue growth of 11.1% year over year, and its net loss narrowed to $196.9 million in the recently completed quarter from $295.8 million in Q1 2024. With respect to the cash-flow statement, Plug's cash burn also improved. Whereas it reported using $167.7 million in cash from operations (CFO) in Q1 2024, Plug used only $105.6 million in CFO in Q1 2025. Despite these improvements, the fact remains: Plug has yet to prove that it can be consistently profitable. Middleton's insistence, therefore, that the company is operating from a position of "financial strength" is hardly reassuring, especially when taking into account the fact that long-term investors have repeatedly suffered from shareholder dilution and will likely experience it in the future as well since the company can't generate cash organically. After seeing that the company's CFO made a significant purchase of Plug stock on the open market, it's fair to consider whether now's a good time to follow suit. But doing just a little due diligence shows that unless you have an extremely ample tolerance for risk, picking up Plug stock right now isn't a great idea. The company's ongoing inability to generate profits coupled with its inability to generate organic cash and its reliance on raising capital through the issuance of equity suggest that the company is hardly operating from a position of financial strength as Middleton contends. At this point, those interested in gaining exposure to a hydrogen stock would be better-served considering an alternative opportunity. Before you buy stock in Plug Power, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Plug Power wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $642,582!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,879!* Now, it's worth noting Stock Advisor's total average return is 975% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. A Key Insider Loaded Up on Plug Power Stock; Should Investors Follow His Lead? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
Plug Power's GenEco Electrolyzers Power Live Customer Demos at The Green Box Innovation Hub
Live Demonstration Site in the Netherlands Already Hosting Leading Industrial Plug Customers Plug Power's GenEco Electrolyzers Power Live Customer Demos at The Green Box Innovation Hub SLINGERLANDS, N.Y., May 20, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions, today announced that its GenEco electrolyzer systems are fully operational at The Green Box, a cleantech innovation campus in the Netherlands. The site features Plug's 1 MW and 5 MW PEM electrolyzers, which are now running at load and actively supporting live demonstrations and technical workshops for European customers. The GenEco platform is Plug's high-performance, modular electrolyzer system designed for flexible deployment across industrial applications such as refining, sustainable aviation fuel (SAF), and green ammonia production. 'Establishing a live demonstration site at The Green Box is a key step in supporting our European customers,' said Andy Marsh, CEO of Plug Power. 'Being able to showcase GenEco under real-world conditions reinforces confidence in our technology and supports commercial discussions already underway across the region.' Recent visitors to the site include Galp, Technip, Tata Steel, Sener, and several regulatory representatives and notified bodies. The site's successful hydrogen production launch in May 2025 demonstrated the 5 MW GenEco system operating at full load and on specification, primarily powered by on-site solar. Several testing periods aligned with negative electricity pricing, underscoring the economic advantages of integrating Plug's systems with local renewable power. Plug's deployment was enabled by The Green Box's advanced energy infrastructure, including a 6 MW public grid connection and an independently operated 10 kV network. With more than 18,000 solar panels, the campus meets most of its own electricity needs and functions as a smart energy hub—ideal for hosting and scaling technologies like Plug's GenEco electrolyzers. The Green Box strengthens Plug's European footprint, serving as both a live customer showcase and a hub for innovation. Plug continues to advance its regional strategy with an active electrolyzer opportunity pipeline exceeding $21 billion across 2025 and 2026, supported by policy programs such as the EU Green Deal, RePowerEU, and the UK Energy Act. About Plug Power Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure to industries such as material handling, industrial applications, and energy producers—advancing energy independence and decarbonization at scale. With electrolyzers deployed across five continents, Plug leads in hydrogen production, delivering large-scale projects that redefine industrial power. The company has deployed over 72,000 fuel cell systems and 275 fueling stations and is the largest user of liquid hydrogen. Plug is rapidly expanding its generation network to ensure reliable, domestically produced supply, with hydrogen plants currently operational in Georgia, Tennessee, and Louisiana, producing 40 tons per day. With employees and state-of-the-art manufacturing facilities across the globe, Plug powers global leaders like Walmart, Amazon, Home Depot, BMW, and BP. Safe Harbor 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: the GenEco platform's applicability for flexible deployment across industrial applications; the Green Box cleantech innovation campus' ability to successfully demonstrate the 5 MW GenEco system; the economic advantages of integrating Plug's systems with local renewable power; and Plug's ability to continue to advance its regional strategy with an active electrolyzer opportunity pipeline exceeding $21 billion across 2025 and 2026. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. 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 (the 'SEC'), including the 'Risk Factors' section of Plug's Annual Report on Form 10-K for the year ended December 31, 2023, Plug's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024 and any subsequent filings with the SEC. 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 Plug undertakes no obligation to update such statements as a result of new information. Media ContactFatimah Nouilati – AllisonplugPR@ A photo accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
19-05-2025
- Business
- Associated Press
Plug Power CFO, Paul Middleton, Underscores Confidence in Financial Strength and Strategic Growth with Share Purchase
SLINGERLANDS, N.Y., May 19, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive solutions for the hydrogen economy, today announced that its Chief Financial Officer, Paul Middleton, has purchased Plug's common stock in an open market transaction, underscoring his conviction in Plug's current strategy and future potential to dominate the hydrogen economy at scale. On May 16, 2025, Middleton acquired 350,000 shares at an average price of $0.7154 per share, for a total investment of approximately $250,000. 'I remain confident in Plug's long-term strategy and the opportunities ahead as we continue to execute our vision in the hydrogen economy,' said Middleton. 'This purchase reflects my belief in the company's financial strength and growth potential.' This announcement follows Plug's Q1 2025 earnings results, which demonstrated continued progress toward its strategic and financial goals. Plug delivered revenue of $133.7 million, while net cash used in operating and investing activities declined to $152.1 million in Q1 2025 versus $288.3 million in Q1 2024. The company also expanded hydrogen production capacity to 40 tons per day across three operational plants and secured meaningful growth in its electrolyzer and fuel cell businesses, reinforcing Plug's position as a global leader in the clean hydrogen economy. Earlier this year, Plug introduced an executive compensation program to align executive incentives with shareholders—highlighted by CEO Andy Marsh's decision to elect to take 50% of his compensation in Plug's stock for 2025. The transaction was disclosed in a Form 4 filing submitted to the U.S. Securities and Exchange Commission on May 19, 2025. About Plug Power Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure to industries such as material handling, industrial applications, and energy producers—advancing energy independence and decarbonization at scale. With electrolyzers deployed across five continents, Plug leads in hydrogen production, delivering large-scale projects that redefine industrial power. The company has deployed over 72,000 fuel cell systems and 275 fueling stations and is the largest user of liquid hydrogen. Plug is rapidly expanding its generation network to ensure reliable, domestically produced supply, with hydrogen plants currently operational in Georgia, Tennessee, and Louisiana, that have collectively 40 tons per day of capacity. With employees and state-of-the-art manufacturing facilities across the globe, Plug powers global leaders like Walmart, Amazon, Home Depot, BMW, and BP. Plug Power Safe Harbor Statement This communication contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies, future events, expected results, assumptions and any other statements that have not occurred. 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 anticipated benefits and actual savings and costs resulting from the implementation of cost-reduction measures; the risk that Plug's ability to achieve its business objectives and to continue to meet its obligations is dependent upon its ability to maintain a certain level of liquidity, which will depend in part on its ability to manage its cash flows; the risk that the funding of the Department of Energy loan may be delayed or cancelled; the risk that Plug may continue to incur losses and might never achieve or maintain profitability; the risk that Plug may not be successful in its financing initiatives and not have sufficient capital to continue its operations; the risk that Plug may not be able to expand its business or manage its future growth effectively; the risk that global economic uncertainty, including inflationary pressures, fluctuating interest rates, currency fluctuations, increase in tariffs, and supply chain disruptions, may adversely affect Plug's operating results; the risk that Plug may not be able to obtain from its hydrogen suppliers a sufficient supply of hydrogen at competitive prices or the risk that Plug may not be able to produce hydrogen internally at competitive prices; the risk that delays in or not completing its product and project development goals may adversely affect its revenue and profitability; the risk that its estimated future revenue may not be indicative of actual future revenue or profitability; the risk of elimination, nonrenewal, reduction of, or changes in qualifying criteria for government subsidies and economic incentives for alternative energy products, including the Inflation Reduction Act and its qualification to utilize the ITC; the risk that volatility in commodity prices and product shortages may adversely affect Plug's gross margins and financial results; and the risk that Plug 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, 2024, Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 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 Plug disclaims any obligation to update forward-looking statements except as may be required by law. MEDIA CONTACT Fatimah Nouilati - Allison [email protected]
Yahoo
14-05-2025
- Business
- Yahoo
Is Plug Power Finally Starting to Turn Things Around?
Plug Power's first-quarter results showed some progress. The company expects its future results to be even better. It still has a long way to go before it can self-fund its business. 10 stocks we like better than Plug Power › Plug Power (NASDAQ: PLUG) has struggled throughout its history. The leading hydrogen company hasn't been able to turn a profit, which has forced it to steadily raise outside capital to fund its operations and expansion. That has weighed heavily on its stock price. However, Plug Power's recent first-quarter report showed some signs of progress. Here's a look at that report and whether it's a sign that the hydrogen stock is finally turning things around. Plug Power posted $133.7 million in revenue in Q1. That was up from $120.3 million in the year-ago period. The hydrogen company benefited from an increase in electrolyzer deliveries, continued materials-handling demand, and the ongoing deployments in its cryogenic platform. However, the company still lost a lot of money. Its total net loss in the period was almost $197 million, which was more than its revenue. On a more positive note, that was an improvement from the nearly $296 million loss it posted in the year-ago period. Plug benefited from a significant improvement in its gross margin (though it was still a negative 55% in the period). Driving the improvement was the ongoing optimization of its supply chain, cost reductions, price increases, and progress in leveraging its leading hydrogen platform. Those efforts helped slow the company's cash burn, which has fallen from $288.3 million in last year's Q1 to $152.1 million this year. That's still a concern, given that Plug ended the quarter with only $295.8 million in unrestricted cash on its balance sheet. The company would run out of money in two quarters at its current cash-burn rate. Plug took a big step toward plugging up that hole by securing a $525 million secured credit facility with Yorkville Advisors earlier this month. It drew down $210 million of that facility to shore up its liquidity. It subsequently used $82.5 million to retire an existing convertible debenture with Yorkville. As a result of this financing, Plug doesn't expect to need to dilute existing investors this year by issuing more stock to fund its business. Plug expects further improvements in its financial results in the future. The company launched Project Quantum Leap earlier this year, which aims to deliver more than $200 million in annualized cost savings. That plan includes workforce reductions, facility consolidations, cuts in discretionary spending, and limiting capital spending to critical near-term requirements. On top of that, Plug expects its investments in expanding its hydrogen business to drive sales growth. The company has an ambitious target of delivering 30% compound annual growth in its energy and applications businesses from 2025 to 2030. That combination of falling costs and rising sales put Plug on a pathway toward profitability. However, it will take a while to reach that goal. The company expects 2025 to be a transformational year where it aims to exit with a positive gross margin run rate. Plug aims to exit 2027 generating positive operating income. That would put it on pace to reach overall profitability by the end of 2028. That ambitious plan requires a lot to go right for the company. Demand for hydrogen needs to grow briskly to support rising pricing and sales. The company must also deliver its expansion projects on time and on budget. It also needs to keep a tight lid on costs. On top of everything, Plug will need to continue raising outside capital to fund its operations and expansion. Earlier this year, the company closed a nearly $1.7 billion loan guarantee from the U.S. Department of Energy, which would help fund the build-out of up to six low-carbon hydrogen plants. However, there are concerns that the Trump administration might cancel this loan. If that happens, Plug Power would have a big hole to plug. It might need to sell more stock to fund these projects, which would further dilute existing investors and weigh on the stock price. Plug Power's Q1 report showed some positive progress in its efforts to grow its business and reach profitability. However, the company hasn't turned the corner just yet. It needs to continue reducing costs and growing its business to finally start making money, which will enable it to become self-sufficient. Until it reaches that point, it might need to continue diluting existing shareholders by selling stock. Because of that, it remains a very high-risk investment that might never live up to its promise. Before you buy stock in Plug Power, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Plug Power wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $598,613!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $753,878!* Now, it's worth noting Stock Advisor's total average return is 922% — a market-crushing outperformance compared to 169% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 12, 2025 Matt DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Is Plug Power Finally Starting to Turn Things Around? was originally published by The Motley Fool
New York Times
13-05-2025
- Business
- New York Times
We Bought a Bunch of Used iPhones. Here's What We Learned.
It turns out that buying a certified 'good' refurbished phone is a bit of a crapshoot, because each company has a different definition of what is considered 'good.' Although we paid less, about $20, than we would have for a certified 'excellent' phone, it wasn't enough savings to be worth the considerable trade-offs. Of the four refurbished-phone resellers, Plug offered the best experience by far. Plug, an online marketplace for refurbished technology, sells phones, smartwatches, tablets, laptops, and headphones. It claims to inspect 90-plus points, such as the battery health, camera performance, and screen quality, including dead pixels . We purchased a $300 (plus tax) iPhone 13 in 'good' condition, but to our surprise we received a phone that we'd consider excellent. It had no obvious visible damage, just some light scuffing around the camera lenses, but was otherwise nearly pristine. Other marketplaces sent phones with considerably more wear, especially around the camera lenses. The iPhone 13 we bought from Plug also had a battery health of 98%, which is excellent for a used phone. In addition, our phone had a screen protector preinstalled, which we hadn't expected, since Plug advertises preinstalled screen protectors only as part of its additional accessory kit. The Plug phone was also the only one updated to the latest version of iOS 18; the others were still running iOS 17. The iPhone 13 from Plug arrived in great condition without major scratches. It also had a screen protector pre-installed. Dave Gershgorn/NYT Wirecutter Unlike other used iPhone 13s we bought, the phone from Plug didn't have scratches on its cameras or around the edges of the phone. Dave Gershgorn/NYT Wirecutter The iPhone 13 from Plug arrived in great condition without major scratches. It also had a screen protector pre-installed. Dave Gershgorn/NYT Wirecutter Plug provided the best packaging of the refurbished-phone sellers, tossing some accessories into the box that we didn't expect, which made the experience feel like opening up a new product. Plug shipped the phone with three chargers, a clear phone case, and an adhesive phone grip (like a knockoff PopSocket). The phone was also well protected, shipped in a smaller box inside the accessory box; some other phones we received were stuffed in a small box in a flat mailer, so this is a clear win for Plug. Plug also ships its phones with an extra accessory, which can include a case, phone grip, or extra chargers. Dave Gershgorn/NYT Wirecutter After seeing all these additional accessories, we reached out to Plug to confirm that somebody at the company hadn't deduced it was for a member of the press and added some extras. The company denied any special treatment, but when we compared our unboxing against others online, we noticed that we had received more accessories in our package than others usually do, plus the preinstalled screen protector. We'd say, though, that you can expect a phone case, a phone grip, or some equivalent freebie, rather than a full set of accessories. 'Good' phones from the other refurbished-electronics resellers weren't as, well, good. The iPhone 13 we purchased from Gazelle, which has been selling refurbished electronics since 2008, was extremely dirty. Gazelle claims to have a 55-point inspection process for phone refurbishment, but we found crud from the previous owner caked in the bottom speakers, earpiece, and ring/silent switch on the left side of the phone. The iPhone 13 from Gazelle had scratches around the edges of its cameras, plus gunk stuck in the edges of the phone. Dave Gershgorn/NYT Wirecutter And though the phone came well packed in a simple cardboard box, accompanied by a charger and cable, its battery health was slightly disappointing at 86%. Considering that a new battery for an iPhone 13 costs about $90, you might as well buy a newer device — or one in better condition. Back Market, another refurbished marketplace, is on a marketing blitz, trying to make buying used tech look as cool as buying new. But the iPhone 13 we purchased, while in good exterior shape, held a few surprises once we booted it up: The battery health was 84%, again on the verge of needing replacement, and more egregiously, it had an unauthorized third-party screen installed, which caused an error to pop up in the Settings menu. The iPhone 13 we bought from Back Market had an unauthorized screen installed, which caused an error message in the phone's settings. Dave Gershgorn/NYT Wirecutter We thought we would have better luck with Swappa, which is a marketplace for independent phone-repair shops and tech resellers. Instead of buying a refurbished phone from Swappa itself, you buy one from the business that uses Swappa to sell its refurbished electronics. Swappa makes all of this pretty clear on its website, and when you're searching for phones, you can choose sellers and see photos of the actual phone you're buying. But because there is no standardized refurbishing process, you don't really know what you're going to get, even though you can see photos of the device before you buy. The iPhone 13 we bought arrived in packaging that smelled a lot like cigarette smoke. The phone was also a bit more beat up than we thought it would be, and we discovered that properly determining a phone's condition by looking at a few pictures is a bit more difficult than you might think. When we booted it up, we discovered that the seller had already done the setup process, which refurbishers typically leave for the buyer after resetting the phone for personalization and security. At least the battery health was 89%, which wouldn't require immediate replacement. The iPhone 13 from Swappa was a bit beat up, and had small dents and dings around the outside of the phone. Dave Gershgorn/ NYT Wirecutter The iPhone 13 from Swappa also had some wear around the cameras. It was cleaner overall, but the packaging smelled like cigarette smoke. Dave Gershgorn/ NYT Wirecutter These dings and dents are what you can expect on a 'Good' rated phone. Dave Gershgorn/NYT Wirecutter The iPhone 13 from Swappa was a bit beat up, and had small dents and dings around the outside of the phone. Dave Gershgorn/ NYT Wirecutter Though this is a peek into the refurbished-phone market, we haven't tested the sellers nearly enough to make a full recommendation. We limited our test by ordering only one phone from each website, and if we had ordered on a different day, we likely would have gotten an entirely different set of phones, and reached different conclusions about the quality of each. Limitations aside, our experiment represents a good snapshot of the buying experience and what you can reasonably expect from each site.
