Plug Power Inc. PLUG

What this company does

Plug Power Inc. produces, stores and delivers hydrogen and generates energy from it. It also produces proton exchange membrane electrolyzers that use electricity to split water into hydrogen and oxygen, hydrogen liquefaction systems, and cryogenic equipment including liquid storage tanks, delivery trailers, vaporizers and portable equipment. The company has deployed more than 74,000 fuel cell systems, primarily through material handling applications, and operates more than 275 fueling stations. It manufactures or assembles its products at facilities in Slingerlands, New York; Rochester, New York; Houston, Texas; and Lafayette, Indiana, maintains a customer service center in Miamisburg, Ohio, and operates hydrogen production plants in Charleston, Tennessee; Kingsland, Georgia; and St. Gabriel, Louisiana. Walmart, Inc. accounted for 24.2% of the company's total consolidated revenues for the year ended December 31, 2025, and a second customer accounted for 14.3%. As of December 31, 2025, the company had 2,582 employees, of whom 238 were temporary, with 2,216 located in the United States and 366 located outside the United States. The company operates as a single operating and reportable segment covering the design, development and sale of hydrogen products and solutions. Plug Power Inc. was organized as a corporation in the State of Delaware on June 27, 1997.

Written from the business description in Plug Power Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 2 March 2026. Every sentence was checked against that document before publication.