Plug Power Closes $525 Million Secured Credit Facility with Yorkville Advisors
Plug to Hold First Quarter 2025 Earnings Call on May 12, 2025
SLINGERLANDS, N.Y., May 06, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions, today announced the initial closing of its previously announced $525 million secured term loan facility with Yorkville Advisors. The initial tranche in an aggregate principal amount of $210 million was drawn and funded. Commensurate with establishing this facility, the company has retired $82.5 million in aggregate principal of the existing convertible debenture with Yorkville Advisors, which had approximately 55 million associated underlying shares given the conversion price, and therefore this refinancing has reduced potential dilution. The transaction enhances Plug’s liquidity position and provides the company with additional financial flexibility as it continues to scale its green hydrogen network and drive toward profitability.
“This financing provides meaningful capital to support Plug’s strategic priorities in 2025 and beyond,” said Andy Marsh, CEO of Plug. “We appreciate the confidence Yorkville has shown in our long-term vision and are pleased to have closed this deal under favorable terms for the company.”
Plug will provide further details during its upcoming first quarter 2025 earnings call.
Q1 2025 Earnings Conference Call Details:
Plug’s First Quarter 2025 results will be released on Monday, May 12, 2025.
Join the call
- Time: 4:30 pm ET
- Participant Dial-In: 877-407-9221 /
- Webcast:
A live webcast will be available on the Plug Investor Relations website at , and a playback will be available online for a period of time following the call.
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 70,000 fuel cell systems and 250 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, 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.
For more information, visit .
Forward-Looking Statements Disclaimer:
This press release includes certain “forward-looking statements” within the meaning of the federal securities laws. These statements include, but are not limited to, statements regarding the company’s liquidity position and financial capital and flexibility. These forward-looking statements are made as of the date hereof and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the company’s control. The company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including, but not limited to, the risks related to uncertainties related to market conditions and the successful execution of the company’s strategic priorities. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in the company’s filings and reports with the Securities and Exchange Commission (the “SEC”), including the Annual Report on Form 10-K for the year ended December 31, 2024, as well as other filings and reports that are filed by the company from time to time with the SEC. These forward-looking statements should not be relied upon as representing the company’s views as of any date subsequent to the date of this press release, and you should not place undue reliance on such statements. Except as required by law, the company undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
MEDIA CONTACT
Fatimah Nouilati – Allison
