Revenue and Financial Performance
Plug Power met its Q1 2025 financial and operational targets with revenue at $134 million, in line with guidance. The company projects $140 million to $180 million in revenue for Q2. Cash burn was down nearly 50% year-over-year.
Progress in Hydrogen Production
The 15-ton per day Louisiana hydrogen plant was commissioned on time, and together with Georgia and Tennessee, the company now has 40 tons per day in internal production capacity.
Significant Cost Reduction Efforts
The Quantum Leap program targeted over $200 million in annualized run rate reductions, and most of these savings have been executed.
Strategic Position in Europe
Plug Power is strategically positioned in the European electrolyzer market, with significant opportunities in Denmark, Spain, Portugal, and the UK, supported by regulatory frameworks and subsidies.
Financial Flexibility and Infrastructure Support
In March, Plug Power raised $280 million in equity and secured a $525 million structured financing facility. The company holds nearly $300 million in unrestricted cash.