Plug Power Signs 525 million US dollars secured loan facility with Yorkville consultants and reports strong preliminary results of the first quarter of 2025

Slingerlands, NY, April 28, 2025 (Globe Newswire)-Plug Power Inc. (Nasdaq: Plug), a leading worldwide provider of comprehensive hydrogen solutions, has announced today that it has signed a final agreement for a secure debt facility, and the most important operational and financial milestones that have its way to profitability and long-term growth support, have achieved.

Up to 525 million US dollars Yorkville credit facility and retirement of dilutive bonds

Plug has signed a final agreement for a secure debt facility with advisors from Yorkville, which enables the issue of up to 525 million US dollars in secure bonds. The facility comprises a first tranche of 210 million US dollars, which is fully financed in the first closure and additional tranches of up to 315 million US dollars. The initial tranche is expected to be closed on or around May 2, 2025. With the net proceeds from the initial tranche, plug intends to use around 82.5 million US dollars in order to retire most of its existing convertible bonds, which are eliminated with Yorkville, which are based about 55 million shares in view of the renovation price, and therefore reduce the potential dilution.

Preliminary Q1 2025 results and increased financial position

Plug will be reported in early May his first quarter of 2025. Plug is expected that sales of around $ 130 to 134 million will be expelled for the first quarter of 2025 of around 130 to 134 million US dollars. Plug expects sales in the second quarter of $ 140 million to $ 180 million.

Plug expects that the net money for the first quarter of 2025 would be around 142 million US dollars in the first quarter of USD 268 million in the first quarter of 2024. Netto -Cash Use corresponds to the change in the unrestricted cash and cash equivalents, less proceeds from public and private offers, net of transaction costs and excludes the main notations of convertible instruments. Plug expects additional short-term reductions to the net level use, which is powered by hydrogen systems, additional costs and additional price increases. Net use for the first quarter of 2025 could have been lower, since the company worked with an important customer with an important price change and program improvement, which is effective from January 1, 2025. The company agreed to delay the collections in the first quarter to receive time to conclude the contracts and invoices. The company has completed the program during the 2^nd Quarter that positions the company so that they have achieved higher sales and have improved the cash flows for the future.

Plug ended on March 31, 2025 with around 296 million US dollars of unrestricted cash. In view of the current cash resources, the continued reduction in cash use through the use of the operating capital and the reduction of investments, the advantages of additional cost reduction initiatives in March 2025, of which they are expected to operate over $ 200 million for annual cost reductions, and the additional committed financing as part of the Yorkville credit factility is that the company is provides sufficient liquidity. Plug does not intend to increase additional equity in 2025 and to underline its focus on disciplined capital management.

Louisiana system online

Plug has completed the construction of its new 15TPD hydrogen production plant in St. Gabriel, Louisiana. This facility is operated by the Joint Venture from Hidrogenii with the Olin Corporation and strengthens the vertically integrated hydrogen network from Plug and serves anchor customers, including Amazon and Walmart.

Recognize cost savings

Plug has already taken decisive measures to reduce its operating cost base and make changes in the first quarter of 2025, which are expected to lead over $ 200 million in annualized running rate savings of over $ 200 million. These cost reduction measures-throughly complete-organizational new facilities and a company-wide focus on the efficiency of the production and the supply chain. The full effects of these cost savings will be reflected in the upcoming quarters, which supports the continued margin improvement of plug and progress in the direction of profitability.

“We made the difficult decisions and set up the structure to achieve improved operating levers and capital efficiency,” said Andy Marsh, CEO from Plug Power. “We have taken the right steps between strengthening our balance sheet, scaling hydrogen production and streamlined operations to position the plug for long -term success in the hydrogen economy.”

Price language in relation to future -oriented statements

This press release contains “Forward-Looking Statements” Within the Meaning of the “Safe Harbor” provisions of the private securities litigation reform act of 1995. THESE FORWARD-LOOKING Statements Include, but are not limited to, future Outlooks Business, inclus ESTIMATED Revenue for the first and second quarters of 2025, plug’s expenses Regarding Its Cash Usage, Margins, Operating Leverage, Annual Cost Savings and Capital Efficiency, The Timing of the Closing of the Initial Tranche of Credit Facility, Potential Financing of Additional Credit Fazil, The Additional Final Conditions are subject to the expectation that plugs have sufficient liquidity and does not have to accommodate additional equity in 2025, and the expectations of plug that the work in Louisiana is the vertically integrated hydrogen network from plugstrough. The estimated results of the Q1 2025 plug and the result of Q2 2025 are temporary and unchecked and change after the completion of Plug’s financial final procedures. These future -oriented statements are made at the time of the first edition and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Future -oriented statements are subject to a number of risks and uncertainties, of which many factors or circumstances that are outside the control of plug include. The actual results of plug can differ significantly from the specified or implied statements of regulations based on a number of factors, including, but not limited to the risks that are limited with uncertainties related to the market conditions and the satisfaction of the final conditions. With regard to the preliminary financial results in which the financial results are completed, the conclusion of the quarterly final and final financial statements requires. reported. These and other potential risks and uncertainties that can cause the actual results to deviate from the predicted results are more detailed in the submissions and reports of plug in the attitudes and reports of plugs with the Securities and Exchange Commission (“SEC”), including the annual report on the form 10-K for the year that ended on December 31, 2024 and other submissions Plugs-Time-Tore-time-time deductions were submitted. These future -oriented statements should not be instructed as a presentation of plugs views at the time of the date of this press release, and they should not include excessive dependence on such statements. If legally prescribed by law, Plug does not take over the intention or obligation to update or revise future statements, be it based on new information, future events or otherwise.

Media contact
Fatimah Nouilati – Allison
[email protected]

Source: Plug Power, Inc.

(Tagstotranslate) plug power

Plug Power Signs 525 million US dollars secured loan facility with Yorkville consultants and reports strong preliminary results of the first quarter of 2025

ByAmelia Journalton

By Amelia Journalton

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