Plug power logo8/24/2023 ![]() ![]() These improved financial metrics highlight the value of this vertical integration, underscoring significant margin enhancement potential in the hydrogen fuels business and the expected global growth of the electrolyzer market while meeting customers increased focus on sustainability and carbon reduction goals. Given these acquisitions, the Company is raising its 2024 financial targets to achieve $1.2 billion in revenue (up from $1 billion), $210 in operating income (up from $170 million), and $250 million in Adjusted EBITDA (up from $200 million). These activities establish a clear pathway for Plug Power to transition from low-carbon to zero-carbon hydrogen solutions. These activities further enhance Plug Power’s position in the hydrogen industry with capabilities in generation, liquefaction and distribution of hydrogen fuel complementing its industry-leading position in the design, construction, and operation of customer-facing hydrogen fueling stations. and Giner ELX These acquisitions are in line with the Company’s vertical integration strategy in the hydrogen business laid out in September of 2019 with plans to have more than 50% of the hydrogen used to be green by 2024. (NASDAQ: PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, has completed the acquisitions of United Hydrogen Group Inc. LATHAM, N.Y., J(GLOBE NEWSWIRE) - Plug Power Inc.
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