Plug Power CFO Paul Middleton Underscores Continued Confidence in Strategic Growth with Additional Share Purchase
LATHAM, N.Y., June 09, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, today announced that Chief Financial Officer Paul Middleton has purchased an additional 650,000 shares of Plug's common stock on the open market. On June 9, 2025, Middleton acquired 650,000 shares at an average price of $1.0339 per share.
This latest investment follows a previous purchase earlier this month, reinforcing Mr. Middleton's continued belief in Plug's long-term strategy, strong financial trajectory, and leadership in building a vertically integrated hydrogen ecosystem.
"This additional investment reflects my strong conviction in Plug's strategy and long-term value creation. As we execute and gain market traction, I continue to see meaningful upside and believe Plug remains one of the most compelling growth opportunities in the energy sector."
Middleton's open-market purchase underscores executive confidence in Plug's operational progress, including the ramp-up of hydrogen production plants, commercialization of GenEco electrolyzers, and growing demand for GenDrive fuel cell solutions across material handling and industrial markets.
"This is a transformative moment for our business and our industry. I believe deeply in Plug's ability to lead this energy transition—and I'm proud to continue investing in that future," he added.
The purchase was disclosed in a Form 4 filing with the U.S. Securities and Exchange Commission on June 9, 2025.
About Plug Power
Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure to industries such as material handling, industrial applications, and energy producers—advancing energy independence and decarbonization at scale.
With electrolyzers deployed across five continents, Plug leads in hydrogen production, delivering large-scale projects that redefine industrial power. The company has deployed over 72,000 fuel cell systems and 275 fueling stations and is the largest user of liquid hydrogen. Plug is rapidly expanding its generation network to ensure reliable, domestically produced supply, with hydrogen plants currently operational in Georgia, Tennessee, and Louisiana, capable of producing 39 tons per day.
With employees and state-of-the-art manufacturing facilities across the globe, Plug powers global leaders like Walmart, Amazon, Home Depot, BMW, and BP.
Safe Harbor
This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies, future events, expected results, beliefs, assumptions and any other statements that have not occurred. You are cautioned that such statements should not be read as a guarantee of future performance or results as such statements are subject to risks and uncertainties. Actual performance or results may differ materially from those expressed in these statements as a result of various factors, including, but not limited to, the following: the risk of elimination, nonrenewal, reduction of, or changes in qualifying criteria for government subsidies and economic incentives for alternative energy products, including the Inflation Reduction Act and its qualification to utilize the ITC; the anticipated benefits and actual savings and costs resulting from the implementation of cost-reduction measures; the risk that Plug's ability to achieve its business objectives and to continue to meet its obligations is dependent upon its ability to maintain a certain level of liquidity, which will depend in part on its ability to manage its cash flows; the risk that the funding of the Department of Energy loan may be delayed or cancelled; the risk that Plug may continue to incur losses and might never achieve or maintain profitability; the risk that Plug may not be successful in its financing initiatives and not have sufficient capital to continue its operations; the risk that Plug may not be able to expand its business or manage its future growth effectively; the risk that global economic uncertainty, including inflationary pressures, fluctuating interest rates, currency fluctuations, increase in tariffs, and supply chain disruptions, may adversely affect Plug's operating results; the risk that Plug may not be able to obtain from its hydrogen suppliers a sufficient supply of hydrogen at competitive prices or the risk that Plug may not be able to produce hydrogen internally at competitive prices; the risk that delays in or not completing its product and project development goals may adversely affect its revenue and profitability; the risk that its estimated future revenue may not be indicative of actual future revenue or profitability; the risk that volatility in commodity prices and product shortages may adversely affect Plug's gross margins and financial results; the risk that Plug may not be able to manufacture and market products on a profitable and large-scale commercial basis; and other risks relating to Plug's business that are described in Plug's public filings with the Securities and Exchange Commission, including the "Risk Factors" section of Plug's Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 as well as any subsequent filings. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof and Plug disclaims any obligation to update forward-looking statements except as may be required by law.
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