Overview
- Plug signed a non-binding LOI to monetize electricity rights in New York and another location and to explore providing fuel-cell backup and auxiliary power with a U.S. data-center developer.
- The company expects more than $275 million in liquidity improvement through asset monetization, release of restricted cash, and reduced maintenance expenses.
- Plug suspended activities tied to the DOE loan program after securing a long-term hydrogen supply agreement with a global industrial gas provider, lowering the need for near‑term in‑house production.
- Third-quarter results showed a loss of $0.12 per share on $177.05 million in revenue, with GenEco electrolyzer revenue about $65 million and operating cash burn reduced by more than half from the prior quarter.
- Management reaffirmed targets to approach gross‑margin breakeven by the end of 2025 and to aim for EBITDA positive in the second half of 2026, while shares moved from an early double‑digit jump to more modest trading.