Revenue Growth
Plug Power Inc. reported $177 million in revenue for the quarter, with GenEco electrolyzer business generating about $65 million, up 46% sequentially and 13% year over year.
Operational Improvements
Operational cash burn improved by more than 50% from the prior quarter, driven by pricing discipline, better execution, and tighter working capital management.
Strategic Initiatives
Announced a strategic initiative expected to generate more than $275 million in liquidity through asset monetization and the release of restricted cash.
Electrolyzer Business Growth
Delivered $124 million in revenue year to date for the GenEco electrolyzer business, up 33% year over year, with around $200 million expected in sales for the year.
Leadership Transition
Jose Luis Crespo to become Chief Executive Officer on March 1, 2026, ensuring continuity in strategy focused on growth, profitability, and disciplined execution.