Plug Power continues to expand its green hydrogen and electrolyzer business.
Key highlights from the report:
✔ Q1 2026 revenue increased 22% YoY
✔ Electrolyzer revenue surged 345% YoY
✔ More than 320MW of electrolyzer capacity deployed globally
✔ Over $8B electrolyzer project pipeline
Recent wins include
🔹 30MW GenEco PEM electrolyzer project in Barrow-in-Furness, UK
🔹 275MW GenEco PEM electrolyzer FEED contract with Hy2gen for the Courant decarbonized ammonia project in Canada
Plug Power’s Project Quantum Leap is also focused on improving cash flow, pricing discipline, inventory management, and hydrogen platform utilization.
While profitability and cash burn remain key challenges, the company continues to strengthen its position in large-scale green hydrogen infrastructure.