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Plug Power reports record Q3 financials

Plug Power reports record Q3 financials

Plug Power has today (9th Nov) reported record-breaking third quarter (Q3) financial results with gross billings of $125.6m, the highest in the company’s 22-year history.

The New York-based company deployed a record 4,100 fuel cell systems and 13 hydrogen refuelling stations, reflecting growth of 130% year-over-year for fuel cell units deployed.

Reflecting on the record month, Plug Power said its deployment record aligns with the company’s target to have cumulatively deployed over 40,000 GenDrive systems by year end, and design, build and operate a network in excess of 100 hydrogen fuelling stations.

Q3 saw the hydrogen specialist announce strategic partnerships with Brookfield Energy and Apex Clean Energy to source renewable electric and build liquid green hydrogen plants, and sign an MoU with industrial gas giant Linde to deploy pilot class-six and class-eight vehicles in 2021.

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