Trade Plug Power Inc - PLUG CFD

Plug Power Inc. Company profile

Plug Power Inc (PLUG) is the world’s only provider of turnkey hydrogen fuel cell solutions across the transportation, aerial, robotic and stationary power applications sectors.

The company specialises in hydrogen fuel cell technology, which combines hydrogen and oxygen to create electricity, with water and heat as by-products making it a clean alternative energy source that can power anything from small drones to electric cars and even forklifts. 

Plug Power’s products include GenDrive for powering anything from forklifts to pallet jacks; ProGen for fuel cell engines; GenSure for backup power of low and high-power stationary applications; GenKey for turnkey implementation to easily adopt hydrogen; and fuel cell power and GenCare packages.

Founded in 1997, Plug Power deployed over 45,000 fuel cell units and is the largest buyer of liquid hydrogen. Some of its biggest customers include NASA, BMW (BMW), Boeing (BA) and Amazon (AMZN). The company is headquartered in Latham, New York, United States. It entered the European market in 2000.

Plug Power has acquired several other companies including developer of hydrogen fuel cell stack technology and fuel cell systems ReliOn Inc. and developer of Membrane Electrode Assembly (MEA) technology, the main catalyst for fuel cells to create electricity,  American Fuel Cell. 

The company had also joined ventures with Hyvia, the first company to offer turnkey for hydrogen solutions, and South Korea’s conglomerate SK Group. 

Plug Power went public on 29 October 1999 on Nasdaq under the ticker PLUG. The initial public offering (IPO) was valued at  $15 per share.