About Plug Power
Plug Power is a company based in United States founded in 1997.. The company has 3,220 employees as of December 31, 2024. Plug Power has completed 8 acquisitions, including Afcmea, Applied Cryo Technologies and Cellex Power. Plug Power offers products and services including GenDrive, GenSure, GenFuel, and GenEco. Plug Power operates in a competitive market with competitors including Intelligent Energy, EH Group Engineering, Ballard, Bramble Energy and Home Power Solutions, among others.
- Headquarter United States
- Employees 3220 as on 31 Dec, 2024
- Stage Public
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Plug Power, Inc.
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IPO & Listings of Plug Power
Plug Power is a publicly listed company on the NASDAQ with ticker symbol PLUG in USA, operating in the Electronic technology sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Plug Power
Plug Power offers a comprehensive portfolio of products and services, including GenDrive, GenSure, GenFuel, and GenEco. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Fuel cell system for warehouse material handling operations.
Power systems for backup and primary energy needs.
Services for hydrogen production and liquefaction.
Products for generating hydrogen from renewables.
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Software Development Team
81 people
Leadership Team
59 people
Finance and Accounting
30 people
Senior Team
27 people
Sales and Marketing
27 people
Product Management Team
25 people
Project Team
21 people
Sr. Team
15 people
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Funding Insights of Plug Power
- Total Funding Total Funding
- Total Rounds 24
- Last Round Post-IPO — $1.6B
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First Round
First Round
(15 May 2007)
- Investors Count 8
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2021 | Amount | Post-IPO - Plug Power | Valuation |
investors |
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| May, 2020 | Amount | Post-IPO - Plug Power | Valuation |
investors |
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| Feb, 2019 | Amount | Grant - Plug Power | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Plug Power
Plug Power has secured backing from 8 investors, including institutional and venture fund investors. Prominent investors backing the company include SK, Air Liquide and Hercules Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Private debt is provided for green growth capital initiatives.
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Founded Year | Domain | Location | |
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Venture debt financing is provided to companies in multiple sectors.
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Founded Year | Domain | Location | |
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Private equity firm focused on energy, chemical, semiconductor, logistics, and multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Plug Power
Plug Power has strategically engaged in corporate development activities, having acquired 8 companies. Notable acquisitions include Afcmea, Applied Cryo Technologies and Cellex Power. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Advanced batteries are developed by Giner ELX for energy applications.
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2017 | ||||
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Cryogenic equipment is designed and manufactured for industrial applications.
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2012 | ||||
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Energy efficiency services are provided to clients by Joule Processing.
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2009 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Plug Power
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Plug Power Comparisons
Competitors of Plug Power
Plug Power operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Intelligent Energy, EH Group Engineering, Ballard, Bramble Energy and Home Power Solutions, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
PEM fuel cell and CHP power systems developer
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| domain | founded_year | HQ Location |
Low-temperature solid oxide fuel cells are produced for CHP systems.
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| domain | founded_year | HQ Location |
Manufacturer of hydrogen fuel cells
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| domain | founded_year | HQ Location |
Hydrogen-based fuel cells are developed using printed circuit board technology.
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| domain | founded_year | HQ Location |
Integrated energy storage system for power and heating applications
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Plug Power
Frequently Asked Questions about Plug Power
When was Plug Power founded?
Plug Power was founded in 1997 and raised its 1st funding round 10 years after it was founded.
Where is Plug Power located?
Plug Power is headquartered in United States.
Who is the current CEO of Plug Power?
Andrew Marsh is the current CEO of Plug Power.
How many employees does Plug Power have?
As of Dec 31, 2024, the latest employee count at Plug Power is 3,220.
What is the annual revenue of Plug Power?
Annual revenue of Plug Power is $628.81M as on Dec 31, 2024.
What does Plug Power do?
Plug Power was founded in 1997 in the United States and operates in the clean energy sector. Hydrogen-based fuel cells are produced for stationary and mobile uses. The GenKey system is provided as an integrated solution for hydrogen generation and fueling. ReliOn products are offered for modular stationary power, while GenDrive serves as a battery alternative in electric material handling equipment. Operations focus on infrastructure and product scalability.
Who are the top competitors of Plug Power?
Plug Power's top competitors include Intelligent Energy, EH Group Engineering and Ballard.
What products or services does Plug Power offer?
Plug Power offers GenDrive, GenSure, GenFuel, and GenEco.
Is Plug Power publicly traded?
Yes, Plug Power is publicly traded on NASDAQ under the ticker symbol PLUG.
How many acquisitions has Plug Power made?
Plug Power has made 8 acquisitions, including Afcmea, Applied Cryo Technologies, and Cellex Power.
Who are Plug Power's investors?
Plug Power has 8 investors. Key investors include SK, Air Liquide, Hercules Capital, DOE, and New York State Energy Research and Development Authority.
What is Plug Power's ticker symbol?
The ticker symbol of Plug Power is PLUG on NASDAQ.