Plug Power, Inc. · NASDAQ:PLUG
Plug Power — Merger or Acquisition (June 2020)
14 slides from Plug Power's merger presentation, Jun 23, 2020
Slide 1: Plug Power Continues to Execute on its Hydrogen Strategy
Plug Power Continues to Execute on its Hydrogen Strategy June 23, 2020 Copyright 2020, Plug Pow er Inc.
Slide 2: Cautionary Note on Forward Looking Statements
Cautionary Note on Forward Looking Statements This communication contains "forward-looking statements" within the meaning of the Pri vate Securities Litigation Reform Act of 1995 that in volve significant risks and uncertainties about Plug Power Inc., including but not limited to statements about ou
Slide 3: Plug Power Continues to Execute on its Plan to Build the Green Hydrogen Economy
Plug Power Continues to Execute on its Plan to Build the Green Hydrogen Economy Closed acquisitions of United Hydrogen and Giner ELX Positions Plug Power to transition from low carbon to zero carbon hydrogen solutions Vertical integration positions Plug as the global leader in generation, liquefacti
Slide 4: United Hydrogen: Snapshot
United Hydrogen: Snapshot 6.4 ton per day (TPD) liquid hydrogen plant in Charleston, TN • Largest private liquid hydrogen generation company in the US • Sized to be efficiently expanded to 10TPD in the near future • Chlor alkali feedstock from Olin Chemical Delivery network • Liquid tankers • Gas tr
Slide 5: United Hydrogen Transaction Benefits
United Hydrogen Transaction Benefits Sales channel • Enabler to equipment sales growth – better hydrogen pricing/margin expansion, known access to supply, control over service delivery and make hydrogen fuel more ubiquitous Knowledge base • First company to successfully build hydrogen liquefier in t
Slide 6: Giner ELX: Snapshot
Giner ELX: Snapshot Market leader in PEM electrolyzer • 4 decades+ experience with operating units worldwide • Strong sales channels in Europe • Blue-chip customers • Strong IP position • Technology leader with PEM electrolyzer • Multi-MW electrolyzer platform that can be scaled rapidly 6
Slide 7: Giner ELX Transaction Benefits
Giner ELX Transaction Benefits • Strong sales channel in the European market • European Hydrogen Council recommending 2X40 GW of electrolyzer installation by 2030 Projected Global Levelized Cost of Renewable Hydrogen Production (2) • Electrolyzers are key to accomplishing over 50% 2019 $ / kg green
Slide 8: Acquisition Deal Structures
Acquisition Deal Structures (in millions) United Hydrogen Giner ELX Proceeds Reconciliation Amount Proceeds Reconciliation Amount Purchase price $65M Purchase price $58M Debt payoff $18M Cash at Closing $25M Debt assumed (3.5% interest $16M rate) Shares issued to seller (60-day lock- $17M Satisfacti
Slide 9: Post-Acquisition: Unmatched industry capabilities in the Hydrogen Ecosystem
Post-Acquisition: Unmatched industry capabilities in the Hydrogen Ecosystem Building Blocks to Green H2 Vertical Integration • H2 Generation: Electrolyzer technology leveraging PEM fuel cell and MEA 4 manufacturing leadership position ✓ 3 • Liquefaction: 6.4 TPD Liquified Hydrogen plant ✓ with plan
Slide 10: Green Hydrogen Generation Network Scenario Planning Regional Networks
Green Hydrogen Generation Network Scenario Building Blocks (30 year assets) Planning Regional Networks 1. Renewable LCOE (solar / wind / hydro) Liquid Plant w/ Electrolyzer 2. Cost of capital / capital stack 3. End-user demand locations 4. Optimize scale for demand projections < 10 acres - 10 TPD <
Slide 11: Hydrogen Economy: Substantial Expansion of Addressable Market Opportunity
Hydrogen Economy: Substantial Expansion of Addressable Market Opportunity Material Handling Electric Vehicles Stationary Power Hydrogen Economy $30Bn $300Bn $15Bn $2.5Tn Target addressable market Target addressable market Target addressable market Target addressable market Plug Power Today Forklifts
Slide 12: Green Hydrogen Can Power the Future
Green Hydrogen Can Power the Future • Green hydrogen checks all the boxes • Up to 6Gt of annual abatement could come across multiple industries by 2050 (1) • We expect many industries will need green hydrogen % Global Emissions Renewables EVs CCS Hydrogen Biofuels in 2017 (2) Power 41% ✓ ✓ ✓ Transpo
Slide 13: Raising 2024 Financial Targets
Raising 2024 Financial Targets Revenue: $1.2B (increase from $1B) Adjusted EBITDA : $250M (increase from $200M) (1) (1) No reconciliation between Adjusted EBITDA and operating income, the most comparable GAAP measure, is included in this pre sentation because the Company is unable to quantify certai
Slide 14: Corporate Headquarters
Corporate Headquarters 968 Albany Shaker Road, Latham, NY 12110 plugpower.com