Plug Power Issues Corporate ESG Report for the Year 2020

06/25/21

Plug Power is focused on supporting activities  that promote the green hydrogen economy

LATHAM, N.Y., June 25, 2021 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, today released its 2020 Corporate Environmental, Social and Governance (ESG) report. The ESG report focuses on data available in the year 2020 and details Plug Power’s efforts to link environmental and social impacts to its business strategy to lead the global green hydrogen economy. The report’s focus includes Plug Power’s GenDrive, GenFuel, GenSure and ProGen product lines, and the operation of its Latham, NY, Clifton Park, NY, Rochester, NY, Spokane, WA, Romeoville, Il, Dayton, OH and Montreal, Canada offices.

The company conducted a materiality assessment which will guide our focus in the coming years, and will influence our approach to managing ESG expectations internally, as well as with suppliers and partners.

Plug Power’s dynamic work in 2020 has laid the building blocks to position the company to become an industry leader in the $10T hydrogen economy. Key results from the year include:

  • Green hydrogen generation activity with renewable energy partners to generate a combined 40+ tons per day with room to expand
  • 76,944 kilowatt hours of electricity generated to power the Clifton Park facility using Plug Power fuel cell systems
  • 39.1 million hydrogen fills enabled with Plug Power’s dispensing infrastructure
  • $42,000 raised by Plug Power employees to support local charities
  • 54% increase in employment of Veterans of the U.S. Armed Services from 2019
  • Executed recycling program with ELEMENT reducing landfill to only 0.13% of product weight

“Our stance is that Plug Power will only support activity that promotes the green hydrogen economy,” said Andy Marsh, CEO of Plug Power. “Our focus is to do more, help more, and be more than simply supplying the hydrogen ecosystem. We are being proactive to grow a company as good citizens at a global scale—addressing everything from product end-of-life to employee diversity to maintaining responsibility for our own environmental impact.”

Plug Power reported on the following standards: SASB Standard for the Fuel Cell Industry, Global Reporting Initiative Standard as well as company-specific Key Performance Indicators. Plug Power continues to be focused on our stakeholders and investors and working on meeting their needs.

Plug Power manages its impact for the long-term, and understands the importance of having a sound strategy to address climate change and support sustainable development. We intend on issuing an annual ESG report. In order to conserve resources and energy, Plug Power has chosen not to print this report. It may be viewed online at the company's web site plugpower.com, or directly at https://www.plugpower.com/wp-content/uploads/2021/06/PlugPower_2020ESGReport_F.pdf.

About Plug Power Inc.

Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions. The Company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while providing efficiency gains and meeting sustainability goals.

Plug Power created the first commercially viable market for hydrogen fuel cell (HFC) technology. As a result, the Company has deployed over 40,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs.

Plug Power’s vertically integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. The Company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers.

Safe Harbor Statement

This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc.("PLUG"), including but not limited to statements about PLUG's expectations regarding its business strategy and goals and its expectations concerning its environmental, social and governance initiatives, and its market positions and future operations or performance. You are cautioned that such statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times that, or by which, such performance or results will have been achieved. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of PLUG in general, see 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, 2020. 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 undertakes no obligation to update such statements as a result of new information.

Media Contact

Ian Martorana
The Bulleit Group
(415) 237-3681
plugpowerpr@bulleitgroup.com


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Source: Plug Power, Inc.