PLUG POWER INC

Plug Power Inc. (NASDAQ: PLUG) is building an end-to-end clean hydrogen ecosystem designed to help customers meet their business goals while decarbonizing their operations. The company operates as a single reportable segment focused on the design, development, and sale of hydrogen products and solutions across multiple applications and geographies.

The company's core business encompasses fuel cell systems, hydrogen production equipment, electrolyzers, liquefaction systems, and cryogenic solutions. Plug's primary product portfolio includes GenDrive fuel cell systems for material handling vehicles such as forklifts, GenFuel liquid hydrogen fueling and delivery systems, GenCare maintenance and service programs, GenKey vertically integrated turn-key solutions, GenEco electrolyzers for hydrogen generation, and GenSure stationary fuel cell power systems. The company also produces and delivers liquid hydrogen through production facilities located in Tennessee, Georgia, and Louisiana, with the Louisiana facility commencing operations in April 2025.

Plug has deployed more than 74,000 fuel cell systems and operates more than 275 fueling stations, primarily serving the material handling industry. The company maintains manufacturing and assembly facilities in Slingerlands and Rochester, New York; Houston, Texas; and Lafayette, Indiana, along with a customer service center in Miamisburg, Ohio. As of December 31, 2025, Plug employed 2,582 people, with 2,216 located in the United States and 366 internationally.

The company serves predominantly North American and European markets, with primary focus on large to mid-sized fleet operations in high-volume manufacturing and distribution centers. Walmart accounted for 24.2 percent of total consolidated revenues for the year ended December 31, 2025. Plug maintains strategic joint ventures including Hidrogenii with Olin Corporation for hydrogen production and AccionaPlug with Acciona for clean hydrogen projects in Spain and Portugal.

Plug's competitive advantages include its vertically integrated approach to hydrogen solutions, proprietary fuel cell and electrolyzer technologies, established customer relationships, and operational hydrogen production infrastructure. The company holds 52 active U.S. patents and maintains a portfolio of trademarks supporting its brand identity in the hydrogen and clean energy sectors. More information is available at www.plugpower.com.