PLUG POWER (PLUG) Company Report

Faruqi & Faruqi, LLP is investigating potential claims against Plug Power Inc. and reminds investors of the April 3, 2026 deadline to seek the role of lead plaintiff in a federal securities class action.
The complaint alleges that Plug Power and its executives made false and/or misleading statements by overstating the likelihood of receiving DOE Loan funds and constructing hydrogen production facilities, implying a pivot to less commercially viable projects.
Key events cited include the October 7, 2025 departure of CEO Andrew Marsh and President Sanjay Shrestha, which led to a 6.29% stock price drop.
Further stock declines followed the November 10, 2025 announcement of suspending activities under the DOE Loan program and a pivot to monetizing electricity rights, resulting in a 3.39% stock price drop.
A report on November 13, 2025, confirming the suspension of activities on the $1.66 billion DOE Loan, caused the stock to fall an additional 17.58% over two trading sessions.

7 hours ago

Press Release

Plug Power Completes First Hydrogen Fill for Hynetwork's Rotterdam Pipeline

PLUG

New Projects/Investments

Product Launch

Plug Power Inc. has completed the first hydrogen fill of Hynetwork’s 32-kilometer hydrogen pipeline in Rotterdam, Netherlands.
The company supplied 32 tons of RFNBO-certified renewable green hydrogen and delivered custom unloading infrastructure for this operation.
This milestone builds on Plug’s proven European hydrogen delivery capabilities, including the H2CAST project in Germany in October 2025, and positions Plug as a key provider of full-stack hydrogen solutions in Europe.

14 hours ago

Press Release

Plug Power Faces Securities Class Action Lawsuit

PLUG

Legal Proceedings

New Projects/Investments

Guidance Update

Robbins LLP has informed investors of a securities class action lawsuit against Plug Power Inc. on behalf of investors who purchased securities between January 17, 2025, and November 13, 2025.
The lawsuit alleges that Plug Power misled investors regarding its ability to receive and utilize a $1.66 billion loan guarantee from the U.S. Department of Energy (DOE), which was announced on January 16, 2025, to finance hydrogen production facilities.
On November 10, 2025, Plug Power announced the suspension of activities under the DOE loan program, leading to a 3.39% drop in its stock price.
Subsequent reports on November 13, 2025, confirming the suspension of hydrogen facility plans and the risk to the DOE loan, caused a further 17.58% decline in Plug Power's stock price over two trading sessions.

1 day ago

Press Release

Plug Power Faces Class Action Lawsuit

PLUG

Legal Proceedings

Management Change

Pomerantz LLP has filed a class action lawsuit against Plug Power Inc. and certain officers on behalf of investors who purchased securities between January 17, 2025, and November 13, 2025.
The lawsuit alleges that Plug Power made materially false and misleading statements regarding the likelihood of funds becoming available from a $1.66 billion U.S. Department of Energy (DOE) loan guarantee, announced on January 16, 2025, which was intended to finance hydrogen production facilities.
Key events cited include the stepping down of CEO Andrew Marsh and President Sanjay Shrestha on October 7, 2025, and the subsequent announcement on November 10, 2025, that Plug Power suspended activities under the DOE loan program.
Following these announcements, Plug Power's stock price experienced significant declines, including a 6.29% drop on October 7, 2025, a 3.39% drop on November 11, 2025, and a 17.58% drop over November 13-14, 2025.
Investors have until April 3, 2026, to apply to be Lead Plaintiff in the class action.

1 day ago

Press Release

Plug Power Urges Shareholder Approval for Authorized Share Increase to Avoid Reverse Stock Split

PLUG

Proxy Vote Outcomes

Debt Issuance

New Projects/Investments

Plug Power is actively urging shareholders to vote "yes" on Proposal 2 to increase authorized shares, emphasizing that a "no" vote or abstention would lead to a reverse stock split.
The increase in authorized shares is necessary to meet contractual obligations from a warrant sale and a convertible deal, with the warrant sale potentially bringing in $1.2 billion if exercised.
As of the call, 52% of shares have voted, and approximately 38 million additional votes are needed for Proposal 2 to pass; the special meeting on February 5th may be adjourned until around February 16th or 17th to secure these votes.
The company has reduced its debt interest rate from 13-14% to 7% and aims for EBITDA break-even by the end of 2026, having reduced cash use by at least 50% last year.
Plug Power is advancing significant projects, including a $10 billion hydrogen project in Uzbekistan anticipated to reach Final Investment Decision (FID) in the first half of the year, and is exploring market potential with data centers.

2 days ago

Transcript

Plug Power Urges Shareholder Approval for Authorized Share Increase to Avoid Reverse Stock Split

PLUG

Proxy Vote Outcomes

Debt Issuance

New Projects/Investments

Plug Power's CEO, Andy Marsh, is strongly advocating for shareholders to vote "yes" on Proposal 2 to increase authorized shares, emphasizing that a "no" vote or abstention would lead to both an increase in authorized shares and a reverse stock split.
The company requires approximately 38 million more votes for Proposal 2 to pass, with about 52% of shares already voted. The special meeting on February 5th may be adjourned until around February 16th or 17th to secure the necessary votes.
The increase in authorized shares is crucial to fulfill contractual obligations from a warrant sale, which could generate $1.2 billion if exercised above $7.75 per share, and a 7-year convertible deal.
Plug Power is actively reducing cash burn, which was down at least 50% last year, and has lowered its debt interest rate from 13-14% to 7% through a convertible deal. The company's goal is to achieve EBITDA break-even by the end of 2026.
The company provided updates on major projects, with Final Investment Decisions (FIDs) expected for projects in Uzbekistan in the first half of 2026 and Abu Dhabi in the second half of 2026, while Australia is anticipated in 2027.

2 days ago

Transcript

Plug Power Discusses Shareholder Vote on Authorized Shares and Business Outlook

PLUG

Proxy Vote Outcomes

Debt Issuance

New Projects/Investments

The call primarily addressed the upcoming shareholder vote on Proposal 2 to increase authorized shares, with CEO Andy Marsh emphasizing that a 'yes' vote is critical to avoid a reverse stock split.
The increase in authorized shares is necessary to meet contractual obligations from warrant sales and a convertible deal, and to provide flexibility for potential mergers and acquisitions.
Plug Power is actively reducing cash burn and debt, having lowered interest rates on debt from 13-14% to 7%, and is targeting EBITDA break-even by the end of 2026.
The company highlighted significant projects, including the $10 billion Uzbekistan project anticipated to reach Final Investment Decision (FID) in the first half of the year, and sees strong market potential in the U.S. hydrogen economy and data centers.

2 days ago

Transcript

Plug Power Calls Special Meeting for Charter and Share Authorization Amendments

PLUG

Proxy Vote Outcomes

Delisting/Listing Issues

Plug Power is urging stockholders to vote in favor of proposals at a Special Meeting on January 29, 2026, which are deemed critical for the company's ongoing operations, financial flexibility, and long-term growth strategy.
Proposal 1 seeks to amend the company's charter to modernize voting standards, allowing certain future amendments to be approved by a majority of votes cast, rather than a majority of outstanding shares.
Proposal 2 proposes to increase the number of authorized common stock shares from 1.5 billion to 3 billion. The Board emphasizes this is crucial for meeting financial obligations and maintaining operating flexibility, noting that failure to approve would lead to a reverse stock split.

Jan 27, 2026, 7:14 PM

Press Release

Plug Power Completes 100 MW Electrolyzer Installation at Galp’s Sines Refinery

PLUG

New Projects/Investments

Product Launch

Plug Power Inc. has completed the installation of 100MW of PEM GenEco™ electrolyzers at Galp’s Sines Refinery, marking a major milestone in one of Europe’s largest renewable hydrogen projects.
Once operational, the system is projected to produce up to 15,000 tons of renewable hydrogen per year, replacing approximately 20% of the refinery’s grey hydrogen use and reducing greenhouse gas emissions by 110,000 tons annually.
This project is part of Plug’s strategic expansion in Europe and is supported by a $2 billion global opportunity funnel for electrolyzer deployments.

Jan 23, 2026, 12:00 PM

Press Release

Plug Power CEO Andy Marsh to Host Reddit AMA on Special Meeting and Leadership Transition

PLUG

Proxy Vote Outcomes

Management Change

Plug Power CEO Andy Marsh will host a Reddit Ask Me Anything (AMA) session on January 22, 2026, from 2:00-3:00 p.m. ET, to discuss the upcoming Special Meeting of Stockholders scheduled for January 29, 2026.
The Special Meeting will address critical proposals, including amending voting standards and increasing the number of authorized shares of common stock, which the Board believes is essential for the company's financial flexibility and to support ongoing business needs.
If the proposal to increase authorized shares is not approved, the company would proceed with a reverse stock split.
Andy Marsh will transition from his role as CEO and Chairman to Executive Chairman of the Board in March 2026, at which time Jose Luis Crespo will assume the role of Chief Executive Officer.