PLUG POWER INC

Plug Power Inc. announced two transactions with Stream US Data Centers, LLC, involving the sale of its Graham, Texas Project and an amendment to the New York Gateway Project sale. The Texas project is being sold for up to $76.5 million, with $50 million at closing, and is expected to release $14 million in cash collateral. The New York project's sale agreement was amended, fixing the price at $142 million and providing for an immediate release of a $6.5 million deposit and a new $10 million deposit from Stream. These initiatives are expected to generate over $80 million in near-term incremental liquidity, contributing to a broader goal of over $275 million in liquidity improvement.

Plug Power announced two transactions with Stream US Data Centers, including the sale of its Graham, Texas Project for up to $76.5 million and an amendment to the New York Gateway Project agreement. These actions are part of a strategic infrastructure optimization initiative aimed at improving liquidity by over $275 million. The Texas sale is expected to close by July 31, 2026, and will release approximately $14 million in cash collateral, contributing to over $80 million in near-term incremental liquidity from both deals.

Plug Power announced that the 50-megawatt Hunter Valley Hydrogen Hub (HVHH) project in Australia, powered by its GenEco PEM electrolyzers, has reached Final Investment Decision (FID). Developed by Orica, this is Australia's largest green hydrogen project to reach FID and the first under the Hydrogen Headstart program. The facility is expected to produce approximately 4,700 tonnes of renewable hydrogen annually, supporting Orica's decarbonization efforts and reinforcing Plug Power's expanding presence in the Asia-Pacific region.

Plug Power Inc. held its annual meeting of stockholders on June 11, 2026, where several key proposals were approved. Stockholders elected four Class III Directors and ratified Deloitte & Touche LLP as the independent auditor for the fiscal year ending December 31, 2026. Additionally, an amendment to the 2021 Stock Option and Incentive Plan was approved, increasing the number of shares reserved thereunder by 25,000,000. The non-binding advisory resolution regarding executive compensation also passed, and Colin Angle was reclassified to a Class I Director to ensure balanced board classes after a director resignation.

Plug Power Inc. held its 2026 annual meeting of stockholders on June 11, 2026, where CEO and President Jose Luis Crespo provided a corporate overview and discussed strategic priorities. The company outlined clear financial targets, aiming for positive EBITDAS by the end of 2026, positive operating income by the end of 2027, and overall profitability by the end of 2028. These targets are supported by operational improvements from Project Quantum Leap, which has already led to positive gross profit in Q4 2025 and a significant reduction in cash usage.

Plug Power Inc. announced that Kavita Mahtani, a Class I director, has resigned from its Board of Directors, effective June 11, 2026. Ms. Mahtani, who joined the Board in April 2022, is stepping down to focus on her new executive position at Wells Fargo. The company confirmed that her resignation is not due to any disagreements regarding its operations, policies, or practices.

Plug Power Inc. announced it will host its annual meeting of shareholders on Thursday, June 11, 2026, at 10:00 a.m. Eastern Time. The meeting will feature a corporate overview presentation by CEO and President Jose Luis Crespo, followed by a question-and-answer session. Investors and the public can access a live webcast of the meeting online, with stockholders having the option to submit questions.

Plug Power Inc. announced the sale of a federal investment tax credit for approximately $39.2 million, linked to its St. Gabriel, Louisiana hydrogen liquefaction facility. This transaction, part of Plug's strategy to enhance liquidity and optimize capital deployment, follows a similar $30 million ITC transfer in January 2025 for its Georgia facility. The St. Gabriel plant, commissioned in April 2025, is a major North American hydrogen liquefaction facility with a capacity of 15 tons per day, contributing to Plug's 40 tons per day total liquid hydrogen production across its network. The company aims to strengthen financial flexibility and build its integrated hydrogen infrastructure.

Plug Power announced that the 30-megawatt Barrow Green Hydrogen project in Barrow-in-Furness, UK, has reached Final Investment Decision (FID). Plug will supply six 5 MW GenEco™ PEM electrolyzers for the project, which is a joint venture by Schroders Greencoat and Carlton Power. The project will supply green hydrogen to Kimberly-Clark's manufacturing plant, reducing natural gas consumption by up to 50% and CO2 emissions by 18,300 tonnes. This milestone marks the first of three UK green hydrogen projects involving Plug to move into execution, advancing industrial decarbonization and energy security.

Plug Power reported a net loss of $(246.0) million for the first quarter of 2026, an increase from $(196.9) million in Q1 2025, despite a rise in net revenue to $163.5 million from $133.7 million year-over-year. The company's cash and cash equivalents significantly decreased to $223.2 million as of March 31, 2026, from $368.5 million at the end of 2025, with net cash used in operating activities increasing to $(150.0) million. Plug Power continues to experience negative cash flows and net losses, but believes it has sufficient capital for at least 12 months, supported by existing equity offering programs.