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Slingerlands, NY, USA · Public (NASDAQ: PLUG) · plugpower.com
PEM electrolyzers and fuel cells, liquid hydrogen supply
FY2025 revenue (proxy for market share)
$710M total; $187M electrolyzers
as of FY2025 · stocktitan.net
Open roles
98
counted 2026-11-09
Federal awards
$109M
24 grants, contracts, loans
Last private raise
—
no Form D on file
Revenue
$710M
fiscal year ending 2025-12-31
Coming up
POLICY45V: clean hydrogen
Facilities must begin construction before Jan 1, 2028. Affects Hydrogen, Iridium.
+ THESISPOLICY45Q: carbon capture
Facilities must begin construction before 2033; inflation indexing starts in 2027. Affects Hydrogen.
+ THESISPOLICY45Y / 48E: all other clean power and storage
Full credit for projects beginning construction through 2033; 75% for 2034 starts, 50% for 2035, none from 2036. Affects Hydrogen.
+ THESISFEDERAL AWARDDepartment of Energy grant$43M
The goal of this project will be to establish manufacturing processes for pem electrolyzers in rochester, new york capable of producing 5gw of pem electrolyzer stacks per year, whi
usaspending.gov →+ THESISFEDERAL AWARDDepartment of Energy grant$28M
The project will demonstrate a production pathway to meet the projected stack cost of $40/kw for 100,000 heavy duty stacks per year. to meet these objectives, the team will manufac
usaspending.gov →+ THESISFEDERAL AWARDDepartment of Energy grant$727K
The overall objective of the proposed project is to design a hydrocarbon (hc) proton exchange membrane (pem) that can mitigate the high h2 gas crossover issue in electrolyzer (elx)
usaspending.gov →+ THESISFEDERAL AWARDDepartment of Energy grant$1.3M
Fully unitized fuel cell manufactured by a continuous process this project will demonstrate a polymer electrolyte membrane fuel cell (pemfc) bipolar plate (bpp) architecture for he
usaspending.gov →+ THESISFEDERAL AWARDDepartment of Energy grant$3.5M
Integrated membrane anode assembly & scale-up
usaspending.gov →+ THESISFEDERAL AWARDDepartment of Energy grant$2.7M
Domestically manufactured fuel cells for heavy-duty applications
usaspending.gov →+ THESISFEDERAL AWARDDepartment of Energy grant$520K
Novel membranes for electrochemical compressors
usaspending.gov →+ THESISFEDERAL AWARDDepartment of Energy grant$690K
Autonomus hydrogen fueling station
usaspending.gov →+ THESISFEDERAL AWARDDepartment of Energy grant$2.1M
Advanced electrochemical hydrogen compressor
usaspending.gov →+ THESISHow it works
Electricity splits water into hydrogen and oxygen across a membrane or liquid electrolyte. Clean power in makes clean hydrogen out.
OPEN IN 3D →Read from SEC 8-Ks (bankruptcy, default, delisting, restatement, impairment, restructuring), cash runway in annual reports, Form D raises and the 30-day hiring trend. A prompt to look closer, not a credit rating.
2026-11-062026-11-09
By team
By location
Sources: company job boards (daily), SEC EDGAR, USAspending.gov, and the reviewed technology spreadsheets. Public records only cover US entities, so foreign companies and private firms that don't file will show gaps.
| Fiscal year end | 2021-12 | 2022-12 | 2023-12 | 2024-12 | 2025-12 |
|---|---|---|---|---|---|
| Revenue | $502M | $701M | $891M | $629M | $710M |
| Net income | −$460M | −$724M | −$1.4B | −$2.1B | −$1.6B |
| Cash | $2.5B | $691M | $135M | $206M | $369M |
| R&D spend | $65M | $100M | $114M | $77M | $58M |
Showing the 15 largest of 24.
Matched recipient: PLUG POWER INC.
Policy that applies
2026-11-05 · Headquarters updated
Slingerlands, NY, USAwas: Latham, NY, USA