Colin Rusch

Craig Irwin

Eric Stine

William Peterson

Amit Dayal

George Gianarikas

Ameet Thakkar

Andrew Percoco

Christopher Senyek

Dushyant Ailani

Kashy Harrison

Saumya Jain

Tim Moore

Henry Roberts

David Arcaro

Samantha Hoh

Sherif Elmaghrabi

- The **Hydrogen Energy Storage Market** is projected to grow from **USD 11.4 billion in 2023** to **USD 196.8 billion by 2028**, at a **CAGR of 76.8%**.  **[1093691_f69a90f58d1a44eba432338ff56cdb0a_0]** 
- This growth is driven by the global clean energy transition, rapid adoption of fuel cell vehicles, and the integration of renewable energy sources.  **[1093691_f69a90f58d1a44eba432338ff56cdb0a_0]** 
- **Electric Utilities** are expected to hold the largest market share, with the **gas storage form** dominating and **compression technology** projected to be the fastest-growing segment.  **[1093691_f69a90f58d1a44eba432338ff56cdb0a_1]** 
- **Stationary power applications** are set to outpace transportation in hydrogen use, and the **Asia Pacific** region is anticipated to be the second largest market between 2023 and 2028.  **[1093691_f69a90f58d1a44eba432338ff56cdb0a_1]** **[1093691_f69a90f58d1a44eba432338ff56cdb0a_2]** 
- **Plug Power Inc.** is identified as one of the key players in the hydrogen energy storage market.  **[1093691_f69a90f58d1a44eba432338ff56cdb0a_2]**

Hydrogen Energy Storage Market Projected for Significant Growth by 2028

- On **October 8, 2025**, Plug Power Inc. entered into a Warrant Inducement Agreement with an investor to amend and exercise existing warrants, and to issue new warrants.  **[1093691_0001104659-25-097766_tm2528283d1_8k.htm:1]** 
- The transaction involves the exercise of **185,430,464 existing warrants** at **$2.00 per share**, generating approximately **$371.0 million** in gross proceeds.  **[1093691_0001104659-25-097766_tm2528283d1_8k.htm:1]** 
- In exchange, the Company will issue **Pre-funded Warrants** for up to **154,430,464 shares** (exercisable at **$0.0001 per share**) and **New Warrants** for up to **185,430,464 shares** (exercisable at **$7.75 per share**), both expiring on **March 20, 2028**.  **[1093691_0001104659-25-097766_tm2528283d1_8k.htm:1]** **[1093691_0001104659-25-097766_tm2528283d1_ex5-1.htm:1]** 
- The full exercise of the New Warrants could provide an additional **$1.4 billion** in gross proceeds, which, along with the initial proceeds, will be used for **working capital and general corporate purposes**.  **[1093691_0001104659-25-097766_tm2528283d1_8k.htm:1]** 
- The exercisability of the New Warrants is contingent on the Company increasing its authorized shares of Common Stock, otherwise they will be cash settled after **February 28, 2026**.  **[1093691_0001104659-25-097766_tm2528283d1_8k.htm:1]**

Plug Power Inc. Enters Warrant Inducement Agreement

- Plug Power Inc. entered into **Amendment No. 4** to its At Market Issuance Sales Agreement on **September 29, 2025**.  **[1093691_0001104659-25-095048_tm2523585d6_8k.htm:1]** 
- This amendment adds **Yorkville Securities, LLC** as an additional sales agent, alongside B. Riley Securities, Inc., for the sale of the Company's common stock.  **[1093691_0001104659-25-095048_tm2523585d6_ex1-1.htm:0]** **[1093691_0001104659-25-095048_tm2523585d6_8k.htm:1]** 
- The Sales Agreement allows the Company to offer and sell shares with an aggregate gross sales price of up to **$1.0 billion**.  **[1093691_0001104659-25-095048_tm2523585d6_8k.htm:1]** 
- The material terms and conditions of the Sales Agreement otherwise remain unchanged.  **[1093691_0001104659-25-095048_tm2523585d6_8k.htm:1]**

Plug Power Amends Sales Agreement to Add New Sales Agent

PLUG POWER (PLUG)