Plug Power, Inc. · NASDAQ:PLUG
Plug Power — Investor Day (October 2023)
189 slides from Plug Power's investor day presentation, Oct 11, 2023
Slide 1: Plug Symposium Welcome
Plug Symposium Welcome Andy Marsh, President and CEO October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 2: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 3: Today's Agenda
Today's Agenda Main Stage Broadcast: 8:30 – 10:30 Facility Tour: 11:00 – 12:30 Live Wrap Up: Live Breakout Sessions: 12:30 – 4:45 Opening Remarks: Andy Marsh, CEO Closing Comments Comments from Government Partners Financial Roadmap: Paul Middleton, CFO Fuel Cell Applications Plug’s Integrated Soluti
Slide 4: The Hydrogen Economy by 2030
“RePowerEU calls for an EU The Hydrogen Economy by 2030 production target of 10 million tons of clean hydrogen by 2030 along with 10 million tons of “Goals for the US to produce 50 imported clean hydrogen by million tonnes of clean 2030.” hydrogen per year by 2050, with interim targets of 10 million
Slide 5: The Plug Ecosystem
The Plug Ecosystem a _ NF <I Ng ‘ ~~: i \ — Maton | ~~ " | | @_8 I | | " I | 5 | ay Ply | Phy Plyg ay Power Source 12] Transport ™~ : pig Tas Hydrogen a i ry Dispense aa Hydrogen oy Ps g line’ 19 a wy 1 Store & Handle << Produce & Liquefy Hydrogen Pe | ‘ Hydrogen sf a ge tae x Use Hydrogen ry
Slide 6: Plug has made the investments to capture the opportunity
Plug has made the investments to capture the opportunity Production Plants Renewable generation LH2 delivery network Hydrogen Infrastructure 1MW Fuel Cell Power System HyVia Van 6
Slide 7: Near Term Business Accelerators
Regulations Near Term Business Expansion Business Accelerators Margin Enhancement Non-dilutive Funding 7
Slide 8: Inflation Reduction Act Regulations
Inflation Reduction Act (IRA) Regulations Follow the law Key: Regionality The bigger the region, the better 8
Slide 9: Business Expansion: Plug and Fortescue
Business Expansion: Plug and Fortescue partnering to build Both Plug and Fortescue out the Green Hydrogen Economy share a common mission to build out and scale up a global green hydrogen ecosystem. Plug is the preferred supplier for 550 MW PEM electrolyzer supply contract for Fortescue’s Gibson Gree
Slide 10: Accelerating the Korean H2 Economy
Accelerating the Korean H2 Economy 1 MW Electrolyzer – Leading Vehicle SK Plug Hyverse, first Korean 1MW Stationary OEM/ Myoung Shin Coupang and Kendall Hyverse HRS Network certification of PEM Pilot Project Transit Bus Program Square MOU Stack 2024: 300 buses estimated Potential for large sales 200
Slide 11: Gross Margin Expansion: Hydrogen Generation
Gross Margin Expansion: Hydrogen Generation Avg Delivered Molecule Cost $12.00 700 600 $10.00 500 $8.00 MTPD Delivered Delivered $/KG 400 $6.00 300 $4.00 200 $2.00 100 $- - 2023 2024 2025 2026 2027 Externally Sourced Internal Production Avg $/KG Delivered 11
Slide 12: Why We Believe
WHY WE BELIEVE From 2020 to now… let’s look
Slide 13: 150 Times More Power
Fuel Cell Products 2020 Today Class 1 10KW system 1MW Fuel Cell System ~3 Years and 150 Times More Power 13
Slide 14: 1,900% More Capacity
Manufacturing Capacity 2020 Today 50,000 Square feet Nearly 1M Square feet ~3 Years and 1,900% More Capacity 14
Slide 15: Hydrogen Production Plants
Hydrogen Production Plants 2020 Today Operational Tennessee – 10TPD Final Commissioning Georgia – 15TPD Under Construction Louisiana – 15TPD Texas – 45TPD New York – 74TPD Under Development Antwerp – 35TPD Finland – 3 sites - 85TPD H2 + 70 kt ammonia - 2 mt DRI/HBI/100TPD H2 Denmark – 1 site France
Slide 16: Plug is the Global Green Hydrogen Leader
Plug is the Global Green Hydrogen Leader We have a huge market opportunity We have unmatched market knowledge We have unmatched products We have unmatched infrastructure We have unmatched customer validation We have a clear vision of the future 16
Slide 17: Green Hydrogen at Work
pl, Green Hydrogen at Work™
Slide 18: Financial Roadmap
Plug Symposium Financial Roadmap Paul Middleton, CFO October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 19: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 20: 2023 ~$1.2B, 2027 ~$6B, 2030 ~$20B
2023 ~$1.2B 2027 ~$6B 2030 ~$20B 20
Slide 21: Strong Differentiated Platform
Broad foundation of technologies Strong Deep relationships Differentiated New investments Platform Strong cost discipline 21
Slide 22: 2023 Revenue Outlook ~$1.2B
2023 Revenue Outlook ~$1.2B Electrolyzer 2nd Half ‘23 ~$730M Stationary power 1st Half ‘23 ~$470M 45% On-road 27% Green hydrogen 73% 55% Q1 Q2 Q3 Q4 Material handling 22
Slide 23: Strategic Forecast
Strategic Forecast 2027 Forecast Rev ~$6B GM% ~32% 2030 Forecast Rev ~$20B GM% ~35% 23
Slide 24: Hydrogen Investment Accelerating
~$20 B Hydrogen Investment CAGR ~50% Plug Power, Inc. Non-consolidated JVs Accelerating Revenue ~$6 B Growth (forecast in billions) ~$5 B ~$1.75 B ~$1.20 B 2023 2027 2030 24
Slide 25: Revenue Forecast Roadmap
Revenue Forecast Roadmap Revenue 2023 2027 2030 Roadmap 25
Slide 26: Projected Revenue by Region
Projected Revenue by Region 26
Slide 27: 2030 Target Business Model
2030 Continue innovation Vertical integration Target business model Supply chain leverage >35% gross margin Policy ~13% OPEX leverage OPEX leveraging 27
Slide 28: Equipment, Fuel and Service Improvements
Equipment Fuel Service Improvements Improvements Improvements 28
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Slide 30: Debt & Project Capital Solutions
Corporate Debt Solutions Debt & Project Project Finance Capital Solutions Project Equity Partners DOE Loan Program 30
Slide 31: 2023 ~$1.2B, 2027 ~$6B, 2030 ~$20B
2023 ~$1.2B 2027 ~$6B 2030 ~$20B 31
Slide 32: Green Hydrogen at Work
pl, Green Hydrogen at Work™
Slide 33: The Societal Value of Green Hydrogen
Plug Symposium The Societal Value of Green Hydrogen Tim Cortes, CTO Dr. Luke Wentlent, Principal R&D Engineer In collaboration with Dr. Robert Flores and Dr. Jeffrey Reed, University of California, Irvine October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 34: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 35: Demand outpacing hydrogen generation scale-up
Given the significant market demand outpacing the scale up of hydrogen generation projects, there will be a limited amount of green hydrogen available to be deployed over the next 5 to 10 years.
Slide 36: Green Hydrogen
Green Hydrogen Until the green hydrogen economy reaches maturity, there will be a limited supply available. During this maturation process, most large, hard-to-abate industries are expected to consume significant percentages of the green hydrogen produced, if not all of it. What is the best way to d
Slide 37: Societal Value of Green Hydrogen
Context Societal Value of Green Hydrogen In today’s market, green hydrogen is The value of various decarbonization technologies can generally cheaper than fossil fuel when the be quantified and the value to society calculated. environmental damage costs are considered. Various impact factors can be
Slide 38: Societal Value of Green Hydrogen: Preliminary Assessment
Preliminary Assessment Societal Value of Green Hydrogen The value of various decarbonization technologies can be quantified and the value to society calculated. We looked at the cumulative life cycle impact A PEM Fuel Cell Class 8 truck has a societal of the incumbent technologies (i.e., diesel) as
Slide 39: Class 3 Trucks Scope of Analysis
Preliminary Assessment Class 3 Trucks Scope of Analysis Societal Value of H2 vs. Diesel: Full Fuel/Electricity and Truck Inventories • PEM Fuel Cell 250 Mile: $6.05/kg H2 • PEM Fuel Cell 250 mile – 0.65 Load Factor: $0.86/kg H2 • H2 Combustion 85 mile: $0.60/kg H2 • H2 Combustion 250 mile: $0.42/kg
Slide 40: Hard-to-Abate Sectors: Societal Value
Preliminary Assessment Hard-to-Abate Sectors: Societal Value Societal Value of the referenced technology vs the incumbent. In most applications, there is a large societal value of deploying green hydrogen. However, in some areas it can make an outsized impact. Plug is doing the work to carefully und
Slide 41: Green Hydrogen at Work
pl, Green Hydrogen at Work™
Slide 42: Ready Now: Integrated Hydrogen Solutions
Plug Symposium Breakout Room Ready Now: Integrated Hydrogen Solutions Preeti Pande, CMO Don Govel, Director of Market Strategy October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 43: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 44: The Hydrogen End-to-End Integrated Solution
The Hydrogen End-to-End Integrated Solution Only from Plug STORAGE & DISPENSING MOLECULES DELIVERY DEVICES SERVICE Support through every step of the ecosystem 3
Slide 45: Molecules, Delivery, Storage & Dispensing, Devices
MOLECULES DELIVERY STORAGE & DISPENSING DEVICES Pre 2013 3rd Party 3rd Party 3rd Party Industry Industry 3rd Party 2014-2019 Contracts Contracts 2020-Present + + + 4
Slide 46: The Customer Voice
The Customer Voice Clear impact on customer operations “We move 40% more volume “I could feel the difference “There has been an overall during a nine-hour shift just from driving the lift to increase in employee job with fuel cells than we the refueling station for satisfaction. Right now, did with
Slide 47: Plug's Green Hydrogen Ecosystem
Plug’s Green Hydrogen Ecosystem Hydrogen Generation Hydrogen Processing Hydrogen Liquefaction LH2 Tankers LH2 Truck Loading Liquid Hydrogen Storage Locally Stored Hydrogen Dispense Hydrogen Use Hydrogen 6
Slide 48: Broad and Strong Technology Foundation
Broad and Strong Technology Foundation 3 – 10 kW 15 – 45 kW < 5 kg 500 – 5000 kg < 5 kW per day per day PEM PEM FUEL CELL ELECTROLYZER STACK STACK 30 – 85 kW 1MW – 50MW+ Giga scale 15 – 60 tons per day 85 - 250 kW 7
Slide 49: Logistics
Logistics Deal Size = 1x HYDROGEN SUPPLY TURNKEY SOLUTION $10 -$30M Total combined deal size for complete integrated solution 1.2x HYDROGEN SUPPLY STATIONARY POWER TURNKEY SOLUTION 2.7x HYDROGEN SUPPLY HYVIA TRUCKS STATIONARY POWER TURNKEY SOLUTION
Slide 50: Microgrids (1 MW – 50 MW)
Microgrids (1 MW – 50 MW) HYDROGEN SUPPLY HYVIA (5 TRUCKS Years) BACK-UP POWER Hydrogen Supply9
Slide 51: Maritime Ports
Maritime Ports HYDROGEN SUPPLY HYVIA (5 TRUCKS Years) BACK-UP POWER Hydrogen Supply10
Slide 52: Dreaming Big!
Dreaming Big! One-stop-shop Integrated Solutions is Plug strategy Plug Strong partnerships Core technology and hydrogen on-site key to making integrated solutions a reality Growth Expandable Platform Leveraging hydrogen infrastructure for deeper decarbonization Catalyzing the Hydrogen Economy Buildi
Slide 53: Green Hydrogen at Work
pl, Green Hydrogen at Work™
Slide 54: Tyson and Plug Partnership
Plug Symposium Breakout Room: Tyson Customer Case Study- Fuel cells for forklifts - expanding the value proposition Tyson and Plug Partnership Jose Luis Crespo, General Manager, Applications, Plug Tim Terrill, VP, Sales & Logistics, Plug Matthew Portugal, Automation Engineer III, Distribution and Wa
Slide 55: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 56: Tyson and Plug Partnership
Tyson and Plug Partnership Transforming Logistics for a Sustainable Future Join us on a journey to explore how Tyson and Plug have come together to revolutionize logistics while championing sustainability. 15
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Slide 58: The Genesis of Partnership
The Genesis of Partnership From a Conversation to Commitment Matt Portugal, continuous Matt and Tyson Foods saw a It all started on September 7, 2022, improvement leader at Tyson Foods and a potential for positive change – via video conference call with Plug key catalyst for change, was looking to s
Slide 59: Pioneering Success: Driving Productivity, Reducing Carbon Footprint
Pioneering Success: Driving Productivity, Reducing Carbon Footprint How - Tyson Foods and Plug Where - Plug converted 4 Results – Overwhelmingly positive agreed on a month-long battery powered forklifts business case pilot and selected a Pilot site to fuel cells at Tyson’s • 13-15% productivity gain
Slide 60: Shaping the Future
Shaping the Future: Expanding Horizons and Sustainability Goals • Tyson’s speed of decision to roll out fuel cells to multi-site • Leveraging Plug’s hydrogen product offering and project management expertise Together, we are shaping a sustainable future 19
Slide 61: Green Hydrogen at Work
pl, Green Hydrogen at Work™
Slide 62: Fuel Cells for Charging Battery Electric Vehicle Fleets
Plug Symposium Breakout Room: Fuel Cells for Charging Battery Electric Vehicle Fleets Jose Luis Crespo, General Manager, Applications Deepesh Goyal, VP and Amazon Account Executive October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 63: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 64: Large commercial fleets committed to EV adoption
Large commercial fleets have committed to EV adoption as part of Net Zero targets 23
Slide 65: Fleet EV Charging
Fleet EV Charging An EV charger pulls current from an Up to 1:1 ratio of EV chargers to vehicles 1 – 5 MW of additional power for site outlet or the grid and delivers that required for commercial fleets driving need for expensive distribution electricity to the vehicle. transformer upgrades, feeders
Slide 66: EV adoption: The grid infrastructure challenge
EV adoption: The grid infrastructure challenge Grid availability: Utilities dealing with grid congestion in desirable areas for EV deployment, not having immediate grid Alternative sources capacity to provide MW-scale interconnection of power required Grid upgrade cost: Major investment sometimes re
Slide 67: GenSure HP Systems
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Slide 68: Green Hydrogen at Work
pl, Green Hydrogen at Work™
Slide 69: Building with Proven Technology for EV Charging Power
Building with Proven Technology, GenSure HP Systems a Better Option as Power Source for EV Charging are efficient, reliable and environmentally responsible. Scaling based on our 125kW ProGen platform, systems expand from hundreds of kW to multi-MW, to meet an EV fleet’s site needs. 1 MW GenSure HP P
Slide 70: Emerging Grid Applications - Microgrids and Peaker Plants
PLUG Symposium Breakout Room: Emerging Grid Applications - Microgrids and Peaker Plants Jose Luis Crespo, General Manager, Applications, Plug Darin Painter, VP, Stationary Sales, Plug Kevin Kopczynski, VP, Strategy and M&A, Plug Craig Horne, Vice President, Advanced Energy Storage, Energy Vault Kevi
Slide 71: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 72: Fire Safety Transmission Line Shutdowns
Fire Safety Transmission Line Shutdowns Energy Vault selects Plug Power Increased fire risk is requiring transmission line to Supply 8 MW of Hydrogen Fuel shutdowns Cells as part of hybrid microgrid • Camp fire in CA and Lahaina fire have resulted in backup system for PG&E and the increased focus on
Slide 73: Increasing Wildfire and Grid Impact
Increasing Wildfire and Grid Impact According to CA Public Utilities Commission (CPUC) Data, there were 3,550 Utility-Caused Fire Incidents Reported by the Three Largest Utilities in CA from 2015 through 2020 California State Auditor - https://www.auditor.ca.gov/pdfs/reports/2021- 117.pdf https://ma
Slide 74: Quantifying the Wildfire Power Problem
Quantifying the Wildfire Power Problem U.S. Generation Capacity Population Density Fire Danger The data shows that: This means - The U.S. has 1,160 GW of Generation 159,522 MW of power moves through transmission - At 333.3 Million People, we build 3.48 kW per person lines in high fire danger zones t
Slide 75: Fuel Cells for Peaking Applications
Fuel Cells for Peaking Applications
Slide 76: What is a Peaker Plant?
What is a Peaker Plant? Example Dispatch Day US Electricity Generation & Standard Future Projection by Fuel Type 2 billion kilowatt-hours Source: PJM Learning Center - How PJM Schedules Generation to Meet Demand 35 EIA – Annual Energy Outlook 2023: Release Presentation
Slide 77: Solutions for Clean Peaker Plants
Solutions for Clean Peaker Plants UPS Power Quality T&D Grid Support Load Shifting Bulk Power Mgt Pumped Hydro Discharge Time at Rated Power CAES H2 hours Flow Batteries Li-Ion Battery minutes Large scale fuel cell plants Lead-Acid Battery seconds High Power Supercapacitors 1kW 10kW 100kW 1MW 10MW 1
Slide 78: Market Drivers for Clean Peaker Plants
Market Drivers for Clean Peaker Plants US Greenhouse gas emissions State & Local Clean Power Policy by sector in 2021 1 1 FERC - Electric Power Markets, 2023 37 1 DOE – Inventory of U.S. Greenhouse Gas Emissions and Sinks: 1990–2021
Slide 79: Green Hydrogen at Work
pl, Green Hydrogen at Work™
Slide 80: Fuel Cells for Primary Data Center Power
Plug Symposium Breakout Room: ECL Customer Case Study Fuel Cells for Primary Data Center Power Jose Luis Crespo, General Manager, Applications, Plug Darin Painter, VP, Stationary Sales Yuval Bachar, CEO, EdgeCloudLink October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 81: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 82: Disclaimer
disclaimer Forward-looking Statements These materials contain forward-looking statements that are based on our management’s beliefs, assumptions and expectations, and on information currently available to our management. Generally, you can identify forward-looking statements by terms such as “may,”
Slide 83: Datacenters - Stationary Value Proposition
Datacenters - Stationary Value Proposition Regulatory and grid constraints / sustainability commitments are impacting capacity growth • Growing demand for cloud and AI processing capacity • Global problem with increasing urgency from customers • Significant scale opportunity (300MW+ at a single loca
Slide 84: BLUE SKY For Data Center Environmentalists
BLUE SKY For Data Center Environmentalists ECL Data Center Solution Optimal Efficiency (PUE) • Zero Emission • Zero Water Use Zero Emission • 100% Green Power Zero Water Use • High Efficiency - PUE 1.05 Circular Economy • No Diesel Generators • Minimal Noise Community Integration • Sustainable waste
Slide 85: The ECL Product
The ECL Product Fully-sustainable Data Center as a Service for private colocation or on- prem applications 44
Slide 86: Changing the data center economy
Changing the data center economy Typical ECL data center power ECL Projections • 10MW of IT load • 24/7/365 operations • 15TPD Hydrogen consumption 45
Slide 87: Green Hydrogen at Work
pl, Green Hydrogen at Work™
Slide 88: Mobile Generation
Plug Symposium Breakout Room: United Rentals and Plug Mobile Generation Jose Luis Crespo, General Manager, Applications, Plug Rick Mason, VP, Product and Program Management, Plug Dan Gribbel, Sales and Marketing Director, United Rentals October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 89: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 90: Mobile Generation Opportunity
Mobile Generation Opportunity Separate Power Rental Market (from $20B+ generator sales market) Customers are asking for diesel alternatives TAM: $9.8B: >250K Units Expected CAGR >6% through 2030 SAM: NA/Euro: $4.7B - 48.3% SOM: $1.7B - 37% (up to 500kW) w/ Partner 49
Slide 91: United Rentals Company Overview
Company Overview #1 Market Share(1) • 2021 total revenue $9.72 billion (+13.9% Y/Y) • 2021 adjusted EBITDA(2) $4.41 billion (+12.3% Y/Y; 45.4% margin) 1,331 locations across North America(3) • 1,188 branches in the U.S.; locations in 49 of 50 states United • 143 branches in Canada; locations in all
Slide 92: United Rentals Branch locations
United Rentals Branch locations North American branch count 1,331(1) • General Rentals: 861 locations • Specialty: 470 locations(2) Largest U.S. states by number of locations(1) • Texas: 164 • California: 117 • Florida: 80 • Louisiana: 51 • Georgia: 47 Largest, broadest and most diverse footprint in
Slide 93: Core values provide the foundation of our culture
Core values provide the foundation of our culture Visible Leadership Lead by example in every A Passion for People business decision and action, Customer-Driven Build a diverse workplace that with a sense of humility and Support the best interests of our responsibility. customers and develop better
Slide 94: Plug & United Rentals
Plug & United Rentals United Rentals Needs: Plug can provide: Green power solutions: Fuel cells / Integrated Solution: • 50% of fleet less than • Improved efficiency over 500kW diesel • Ideal size of 30kW • Long run time (external • Long run times fuel) • Zero emissions • Eligible for ITC North Amer
Slide 95: Planned Initial Launch
Planned Initial Launch Future expansion to Texas, Louisiana, New York Targeting ~200 miles from Woodbine, GA Targeting 30kW Genset Prototype by YE 2023 Hydrogen Storage Options: • 150kg Single Pod (~10ft / >2.25MWh) • Large HPTT up to 800kg (>12MWh) 54
Slide 96: Green Hydrogen at Work
pl, Green Hydrogen at Work™
Slide 97: Where in the World is Green Hydrogen?
Plug Symposium Breakout Room: Where in the World is Green Hydrogen? Benjamin Haycraft, EVP EMEA Region October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 98: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 99: Where Produced vs Where Consumed
Where Produced vs Where Consumed Where is the most competitive Where is hydrogen produced at scale? hydrogen critical? Excellent combined wind, solar and other renewable Industrial clusters resources (e.g. hydro) Zero / low emission areas Ability to scale production (land, interconnection) Lack of e
Slide 100: Electrolyzer Short-Term Focus: Industrial Applications in Europe
Electrolyzer Short-Term Focus Primarily on Industrial Applications Where One Substitutes Grey for Green: Europe Existing Industrial volume to decarbonize Breakdown by usage Mt per year, % of total 50% 29% 13% 5% 4% 0.002% 4.4 2.5 1.1 0.4 0.3 0.001 Refinery Ammonia Methanol & Other Energy Transport o
Slide 101: Plug is Uniquely Positioned to Take Advantage of Opportunities
Plug is Uniquely Positioned to Take Advantage of Opportunities Sines refinery Green H2 Energy Tech Maasvlakte Energy Hub Infrastructure
Slide 102: Green Hydrogen at Work
pl, Green Hydrogen at Work™
Slide 103: Green Hydrogen Plant Build Out to 2028
Plug Symposium Breakout Room: Green Hydrogen Plant Build Out to 2028 Sanjay Shrestha, Sanjay Shrestha, General Manager, Energy & Chief Strategy Officer Paul Middleton, CFO October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 104: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 105: Global Green Hydrogen Network
Global Green Hydrogen Network North America Georgia, Tennessee, Louisiana, New York, Texas, and West Coast Targets for EU and Europe Global Network 2,500+ TPD Globally by YE 2030 35TPD plant at Port of Antwerp-Bruges, 1,000 TPD in Europe by YE 2030 producing in 2025 15 TPD plant, with JV partner Acc
Slide 106: Capital Structure Evolution
Capital Structure Evolution 16 14 EPC competition, ELX roadmap, & 12 10 $MM/TPD Reflects CapEx & EPC reductions 8 6 4 2 0 Yesterday Today 2024-2025 Today+ Future Plug Equity Co-Equity Project Debt $1 of Plug Equity Today will get us 8x more capacity in the future • 2/3rd Capital Leverage • 1/3rd Cap
Slide 107: Financing the Build Out
Financing the Build Out Future • Path to project Today+ 2024-2025 finance (70-80% Leverage) • Execution of Gen 2 • EPC Wrap (completed) Today • Drive-down CapEx to • Bankability of offtake $9-10MM/TPD (BOO Model) • Refinancing Gen 1 & • Training-wheels debt developing Gen 2 • Operational track Yeste
Slide 108: Green Hydrogen at Work
pl, Green Hydrogen at Work™
Slide 109: Perspectives from Plug & Key Customer Testimony
Plug Symposium Breakout Room: Plug Electrolyzer Portfolio and Value Proposition Perspectives from Plug & Key Customer Testimony Sanjay Shrestha, Sanjay Shrestha, General Manager, Energy & Chief Strategy Officer Bruno Forget, VP, Strategy & Operations management, Electrolyzer BU Drew Miller, VP of Pr
Slide 110: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 111: Operational experience
Operational experience 63 million hours of operation total across all platforms with a demonstrated record of reliability (1.61 Lambda, failures per million hours) Demonstrated ~10-year stack life in high stress mission critical Plug already operation on submarines manufacturing PEM at scale Hundred
Slide 112: H2B2 Projects with Plug inside
H2B2 Projects with Plug inside SoHyCal Project – One of the largest operating PEM projects x3 ✓ Current density ✓ Energy consumption ✓ Customer oriented ✓ Hours of operation ✓ Pressure ✓ Dimensions ✓ Degradation ✓ Outstanding performance 16
Slide 113: 5MW Containerized Solution
5MW Containerized Solution: turn-key, all-in-one packages for mid-sized markets France Up to 2,125 kg H2/day 5 x 1MW PEM Stacks Process Container HVAC India Utility Container Power Conversion Unit (MV transformer/rectifier) Poland Fully integrated balance of plant for plug-and-play deployment from s
Slide 114: Infinium
\o7e) INFINITUM INFINIUM turns electrons into molecules. We Infinium Project Portfolio produce a new class of synthetic fuel called electrofuels a.k.a. eFuels, PtX, Power-to-Liquids. = Infinium's projects utilize low-cost renewable power and ample waste CO, where readily available Infinium’s product
Slide 115: 10MW Modular Unit
10MW Modular Unit: Plug know-how from Efficient, modular building block for industrial-scale building plants Hydrogen plants Up to 4,125 kg H2/day 10 x 1MW PEM Stacks Heat Exchanger Camden County, GA 15 TPD green hydrogen Stack Ventilation Genesee County, NY 75 TPD green hydrogen 10 x 1 MW Stacks Ca
Slide 116: Green Hydrogen at Work
pl, Green Hydrogen at Work™
Slide 117: Getting Hydrogen From Here to There
Plug Symposium Breakout Room: Getting Hydrogen From Here to There Sanjay Shrestha, Sanjay Shrestha, General Manager, Energy & Chief Strategy Officer Kevin Kopczynski, VP, Strategy and M&A Raja Amirthalingam, Ph.D., P.E., Principal R&D Engineer, Hydrogen Production and Liquefaction October 11, 2023 C
Slide 118: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 119: Options for Hydrogen Transportation
Options for Hydrogen Transportation GAS TRUCK LIQUID TRUCK GAS PIPELINE AMMONIA Total Capital Costs Low Medium High High Operating Costs High Medium Low High Transport Cost per kg High Low Low Low Representative Local Regional Continental Intercontinental Transport Distance ~100 miles ~500 miles ~1,
Slide 120: Plug's Approach to Hydrogen Delivery
Plug’s Approach to Hydrogen Delivery Internal Delivery Network Emerging Industrial Markets Targeting 500 TPD by 2025 Example User Driver(s) Markets • Long Duration • CA / West Power Gen / Green Capacity Coast Storage • Redundant • NY Power System • Low Carbon Fuel • Midcon Refining Standard • WY • S
Slide 121: Here to There: Today and into the Future
Here to There: Today and into the Future Use Case Key Constraints • Transport volumes and station capacity • Short distances/distributed production • Local power costs • Small users • Compressor reliability GAS TRUCK • Transport from regional hubs • Long haul trucking, transit agencies, ports and •
Slide 122: Green Hydrogen at Work
pl, Green Hydrogen at Work™
Slide 123: Decarbonizing Multiple Industries
Plug Symposium Breakout Room: Decarbonizing Multiple Industries: Sanjay Shrestha, Sanjay Shrestha, General Manager, Energy & Chief Strategy Officer Bruno Forget, VP, Strategy & Operations management, Electrolyzer BU Ben Victor, VP, Hydrogen Energy Solutions October 11, 2023 Copyright 2023, Plug Powe
Slide 124: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 125: Decarbonizing Multiple Industries with Green Hydrogen
Decarbonizing Multiple Industries with Green Hydrogen Hydrogen for Industrial Logistics Refineries, steel, and chip fabs Hydrogen is the optimum zero- are going green carbon fuel for long haul trucking, last-mile delivery, and 5 MW containerized system mass transit vehicles ideal for pilots Green Ch
Slide 126: Electrolyzer Roadmap
Electrolyzer Roadmap 2024 2025 2026 5 MW 10 MW System • Lower footprint • 4 TPD Containerized Hydrogen Plant 50 MW 10 MW Array • Outdoor installation Highly integrated 200 MW • • Plant level operation • Lower total plant cost Plant in a box 1 GW • Optimized for GW deployments • Full hydrogen plant s
Slide 127: Plug Liquefier Roadmap
Plug Liquefier Roadmap Designed for flexible operations and quick turn down / ramp up LX-15T LX-30T All equipment designed for highest reliability Liquefaction 15,000 kg/day 30,000 kg/day Capacity Integrated control system for ease of operations Specific Energy <11 kWh/kg Consumption LH2 Purity 99.9
Slide 128: PCT LH2 Product Portfolio & Product Development Roadmap
PCT LH2 Product Portfolio & Product Development Roadmap LH2 Distribution: LH2 Bulk Storage LH2 Refueler & Recharger On-Road Tankers Self-contained LH2 fueling station on wheels, that can be easily deployed and re- deployed with minimal construction or site infrastructure requirements. 18,000 gal. Ho
Slide 129: Green Hydrogen at Work
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Slide 130: Path to Green Hydrogen at Cost Parity
Plug Symposium Breakout Room: Path to Green Hydrogen at Cost Parity Sanjay Shrestha, General Manager, Energy & Chief Strategy Officer Jerry Kahil, VP Finance October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 131: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 132: Projected Fuel Costs & Supply Build-out
Projected Fuel Costs & Supply Build-out Green hydrogen will be cost competitive with Avg Delivered Molecule Cost $12.00 700 gray hydrogen in the market today 600 $10.00 $8.00 500 Key Drivers are: • Cost of electricity MTPD Delivered Delivered $/KG Electrolyzer and liquefier 400 $6.00 • 300 energy co
Slide 133: Levelized Cost of Green Hydrogen ($/KG)
Levelized Cost of Green Hydrogen ($/KG) Example 45 TPD Plant, $4.50 - $5.00 (excluding PTC) 5% Labor & Overhead (L&OH) > 30% decrease LCOH is primarily driven by Liquid 10% Electricity & other Direct Materials Hydrogen Example 45 TPD Plant, 5% Capex $3.00 - $3.50 (excluding electricity PTC) 20% L&OH
Slide 134: Cost of Hydrogen: Blue vs Green
Blue vs Green H2 is a Cost of Hydrogen: Blue vs Green • function of future Natural Gas vs Electricity costs CCUS OpEx OpEx • Blue H2 assumes ideal geological formation for carbon capture and sequestration Energy Energy & Other Green H2 benefits from Direct Materials • ongoing decline in LCOE for sol
Slide 135: Green Hydrogen at Work
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Slide 136: Competitiveness of Green Hydrogen with Incumbent Fuel Sources
Competitiveness of Green Hydrogen with Incumbent Fuel Sources Liquid Hydrogen Market Gaseous Hydrogen Market with On-site Electrolysis or Pipelines Hydrogen Highway 2023: Green Shoots, Bernstein, August 2023 40
Slide 137: Updates on the Implementation of the Inflation Reduction Act
Plug Symposium Breakout Room: Updates on the Implementation of the Inflation Reduction Act Erin Lane, VP Public Affairs, Plug Gerry Conway, EVP/General Counsel, Plug Don Boyajian, Director Government Affairs & Counsel October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 138: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 139: Personnel and context
Personnel and context Overview of personnel and context for this breakout discussion Personnel Context The IRA is the largest piece of federal legislation and investment in clean energy and climate action ever, which can be summarized as follows: o $220-372 billion in energy; $67-183 billion in ma
Slide 140: Inflation Reduction Act – Year in Review
IRA impact Inflation Reduction Act – Year in Review According to the White House, just twelve months after the law was signed, the IRA is already having a significant impact on American workers and families and is delivering for underserved communities that have historically been underrepresented: •
Slide 141: Section 45V Clean Hydrogen Production Tax Credit
Section 45V PTC Section 45V Clean Hydrogen Production Tax Credit • Congress enacted the Section 45V Clean Hydrogen Production Tax Credit (“PTC”) as part of the IRA in August 2022. The PTC affords taxpayers a credit of up to $3.00 per kilogram of hydrogen produced for sale or use, with credit amounts
Slide 142: IRA Implementation Updates
Section 45V PTC potential IRA Implementation Updates The White House and U.S. Department of Treasury, in consultation with the As a first mover in • U.S. Department of Energy and Environmental Protection Agency (as applicable) are still in process of publishing implementation guidance and regulation
Slide 143: Green Hydrogen at Work
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Slide 144: Path to Green Hydrogen at Cost Parity
Plug Symposium Breakout Room: Path to Green Hydrogen at Cost Parity Sanjay Shrestha, General Manager, Energy & Chief Strategy Officer Jerry Kahil, VP Finance October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 145: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 146: Projected Fuel Costs & Supply Build-out
Projected Fuel Costs & Supply Build-out Green hydrogen will be cost competitive with Avg Delivered Molecule Cost $12.00 700 gray hydrogen in the market today 600 $10.00 $8.00 500 Key Drivers are: • Cost of electricity MTPD Delivered Delivered $/KG Electrolyzer and liquefier 400 $6.00 • 300 energy co
Slide 147: Levelized Cost of Green Hydrogen ($/KG)
Levelized Cost of Green Hydrogen ($/KG) Example 45 TPD Plant, $4.50 - $5.00 (excluding PTC) 5% Labor & Overhead (L&OH) > 30% decrease LCOH is primarily driven by Liquid 10% Electricity & other Direct Materials Hydrogen Example 45 TPD Plant, 5% Capex $3.00 - $3.50 (excluding electricity PTC) 20% L&OH
Slide 148: Cost of Hydrogen: Blue vs Green
Blue vs Green H2 is a Cost of Hydrogen: Blue vs Green • function of future Natural Gas vs Electricity costs CCUS OpEx OpEx • Blue H2 assumes ideal geological formation for carbon capture and sequestration Energy Energy & Other Green H2 benefits from Direct Materials • ongoing decline in LCOE for sol
Slide 149: Green Hydrogen at Work
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Slide 150: Vertical Integration through JV's and MOU's
Plug Symposium Breakout Room: Vertical Integration through JV’s and MOU’s Keith Schmid, EVP, Special Projects October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 151: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 152: Partnerships Enabled By Plug Technology Accelerate Regional Hydrogen
Partnerships Enabled By Plug Technology Accelerate TECHNOLOGY PARTNER STRATEGIC PARTNER Regional Hydrogen Relationship Know-how JV Market access Infrastructure Ecosystems The Right Fit Market Knowledge Complementary Influence Local Scale Cultural Fit & Access Skills Public Policy Supply Chain
Slide 153: HyVia: Leading Global Automotive Manufacturer
Leading Global Automotive Leader in hydrogen solutions Manufacturer and fuel cells Electrified Light Proven Technology 1B+ Commercial Vehicle Platforms hours of operation Established Sales and Blue Chip Fleet Service Network Customer Base Automotive Supply Chain Vertically Integrated in Core Fuel Ce
Slide 154: HyVia vans: first and second generation
First Generation Commercially Available Pilot Deployments Underway Second Generation Vans in Validation Testing High Volume New Master Van Platform anticipated in 2025 18
Slide 155: SK E&S Primary Business Focus
Primary Business Focus SK E&S LH2 Production Plants • 90 tons/day planned 2024 • 250 tons/day planned 2026
Slide 156: Hyverse HRS Largest LH2 Based Refueling Network in Korea
Hyverse HRS Largest LH2 Based Refueling Network in Korea Network 29 Stations in Network Initial Stations Online 2023 15-20 projected in 2024 Balance in 2025 20
Slide 157: Creating and Accelerating the Korean Hydrogen Bus Ecosystem
FCEV Integration Complete ProGen Hydrogen Homologation in Process Hydrogen Internal SK Fuel Cell Storage & Supply Bus Market Technology & Logistics Commercial Launch in 2024 Demand Engines Technology Korea’s Localization Market Largest LH2 of Fuel Cell Development & Hydrogen Technology & Sales Chann
Slide 158: Electrolyzers approved for Korean market
Electrolyzers: 1MW approved (KGS) for Korean market 5MW KGS modifications in process Pipeline developing Stationary: Localizing MW scale stationary Targeting Power Generation Market 50-200MW Material MOU’s signed with key logistics players Handling: GenDrive units in local test and certification pro
Slide 159: Acciona JV: Fully Staffed and Operational
Fully Staffed and Operational First Plant projected to be online Q4 2024/Q1 2025 Plant Colocated with Acciona Wind/Solar Field in North of Spain. Capable of Scaling to 50MW 4GW Pipeline: >1 GW (8 Projects) in Advanced Stage 3.0 GW in Early Stage 23
Slide 160: Green Hydrogen at Work
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Slide 161: Ramping Manufacturing and Supply Chain
Plug Symposium Breakout Room: Ramping Manufacturing and Supply Chain Dave Mindnich, EVP Global Manufacturing Brandon Snyder, SVP, Integrated Supply Chain October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 162: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 163: Flagship Facilities
Flagship Facilities Vista Manufacturing Rochester Innovation Center 2023 2023 – GenDrive & Stationary – Coating – Stack – 1MW, FC High Power 2024 – GenDrive & Stationary 2024 – ProGen and GenFuel integration – Transition of LC and AC Stack – Transition balance of ELX product 2025 → EOY 2030 Ramp Tar
Slide 164: ELX System Assembly and Fabrication Strategy
ELX System Assembly and Fabrication Strategy Global Expansion Operational Flexibility Integration of New Technology • Propriety licensing agreements – Power Electronics, DeOxo, Diffusion Bonding Co-investment with Alpha ECC (Vietnam) Vertical integration planning on-going 28
Slide 165: Plug's Current Fabricators
Plug’s Current Fabricators 29
Slide 166: Building Blocks For Expansion
Building Blocks For Expansion Vista WHS 206 Line layout designed to Sub-Assy 6 Sub-Assy 7 Sub-Assy 5 Sub-Assy 4 Sub-Assy 3 Sub-Assy 1 Sub-Assy 2 Stock Picked Carts (BIN Location) add volume to facility Main Line Main Line Main Line Main Line Build Bay 1 Build Bay 2 Build Bay 3 Build Bay 4 30
Slide 167: Stationary – Expansion and Industrialization
Stationary – Expansion and Industrialization Supply Chain • Supply Chain Diversification – Both with Suppliers and Regionality • Cost Maturity → Increased Gross Margin Manufacturing • Expansion to 12 Build Bays • In Process Inspection • In Process Testing • Automated Factory Acceptance Testing • 24/
Slide 168: Green Hydrogen at Work
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Slide 169: Hydrogen: Fact and Fiction
Plug Symposium Breakout Room: Hydrogen: Fact and Fiction A level setting discussion regarding hydrogen leakage, safety, and similar topics Tim Cortes, CTO Dr. Luke Wentlent, Principal R&D Engineer October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 170: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 171: Hydrogen Therapy: Facts vs Fiction
Hydrogen Therapy: Facts vs Fiction There is a significant amount of misinformation circulating around the world regarding hydrogen… Does Does hydrogen Is hydrogen Is hydrogen hydrogen make sense? dangerous? safe? leak? How much Is hydrogen Is hydrogen Is hydrogen water does toxic? flammable? explosi
Slide 172: They Said It Best…
They Said It Best… “Hydrogen will play a critical Swiss army knife of zero- “A global race to supply role in decarbonizing” carbon technologies” green hydrogen has begun” -Frank Wolak, CEO of FCHEA -Sec. Granholm -Rich Powell, ClearPath Action 9.1.21 5.29.23 10.28.21 “Green Hydrogen Comes In As An “
Slide 173: Real Benefits of Hydrogen
Real Benefits of Hydrogen Hydrogen an energy carrier with a unique combination of characteristics, properties, and flexibility. It is no surprise that it is widely recognized as essential to realizing society’s decarbonization efforts. Why is hydrogen so critical to decarbonization? Zero Emissions P
Slide 174: Hydrogen is critical to enable decarbonization
Hydrogen is critical to Hydrogen is a critical component of large scale decarbonization, particularly in hard- enable decarbonization. to-abate industries. H2: Fuel H2: Chemical Steel Ammonia Methanol Petrochemical Fuel Cells Engines/Turbines Energy Storage Manufacturing Production Production Refini
Slide 175: Market Adoption for Each End Use Sector
Market Adoption for Each End Use Sector.... Interpolated baseline demand curves by end-use sector Impact Green hydrogen demand1,2, Mn tons Based upon clean hydrogen demand values reported by DOE H2 engine fuels Steel PtL fuels (e-fuels) Methanol (chemicals) Methanol (transport) Power Biofuels Energy
Slide 176: Let's break some myths
Let's break some myths Hydrogen Hydrogen Water Safety Leakage Usage The Myth: The Myth: The Myth: Hydrogen is unsafe Hydrogen will leak Electrolysis requires compared to existing fuels more than natural gas and wastes large amounts due to its various chemical (i.e. in pipelines) because of water, fa
Slide 177: Hydrogen Safety: Myth Busted
Hydrogen Safety The Myth: Hydrogen is unsafe compared to existing fuels due to its MYTH BUSTED various chemical properties and features (highly flammable, ignites easily, cryogenic/high pressure storage, etc). Based upon any metric, THE FACTS hydrogen is no more or Toxicity Hydrogen is non-toxic, no
Slide 178: Hydrogen Leakage: Myth Busted
Hydrogen Leakage MYTH BUSTED The Myth: Hydrogen will leak more than natural gas when used in the In realistic conditions, existing natural gas infrastructure (i.e. pipelines) because it is a smaller molecule. H2 leaks no different than natural gas. THE FACTS: Swain & Swain studied two types of leaks
Slide 179: Water Usage: Myth Busted
Water Usage MYTH BUSTED The Myth: Electrolysis requires and wastes large amounts of water, far more than conventional power generation using natural gas. Considering the full lifecycle All power generation techniques (fossil (from production to power THE FACTS: and hydrogen-based) require water. gen
Slide 180: References
References Slide 9 1. United States Department of Energy Office of Energy Efficiency and Renewable Energy. Fact Sheet Series. “Hydrogen Safety”. 2020. 2. Shapiro, Z.M.; and Moffette, T.R.; “Hydrogen Flammability Data and Application to PWR Loss-Of-Coolant Accident” Westinghouse Electric Corp. 1957 3
Slide 181: Green Hydrogen at Work
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Slide 182: Leveraging Scale and System Performance Improvements
Plug Symposium Breakout Room: Global Service and Cost Leverage Leveraging Scale and System Performance Improvements for the Hydrogen Economy Chris Suriano, EVP, Service October 11, 2023 Copyright 2023, Plug Power Inc.
Slide 183: Forward-looking statements
This presentation includes “forward-looking statements” about Plug Power Inc. (“Plug”). These forward-looking statements contain projections of Plug’s future results of operations, or of Plug’s business or financial position, or other forward-looking statements. Plug intends these forward-looking st
Slide 184: Plug Service: Delivering Hydrogen Ecosystem
Plug Service: Delivering Hydrogen Ecosystem 15 Years of Fuel Cell Service & H2 System Maintenance Mission: Provide world class lifecycle service across all Plug products delivering the hydrogen ecosystem to our customers and the world. 1 Billion+ Fuel Cell Operating Hours 50K - Fuelings Per Day • 80
Slide 185: Three Elements to Service Cost Performance
Three Elements to Service Cost Performance Global Scale & Leverage System Life Per Unit Costs Platforms and Skillset enable growth Increased stack power density Total lifecycle cost management Lower cost of entry to new markets Stack MEA longevity Sustainable remanufacturing Fleet revenue opportunit
Slide 186: Global Platforms & Skillsets for Hydrogen Economy
Global Platforms & Skillsets for Hydrogen Economy Existing network and experience in system technologies allows for profitable and low cost of entry service offerings Fleet Fuel Cell Monitoring Applications & Diagnostics Safety Quality Global Global Hydrogen & Service Operations Fuel Cell Engineerin
Slide 187: System Life - Stack Innovations drives Service Cost
System Life - Stack Innovations drives Service Cost Fuel Cell Stack Technology Innovation reduces Service Lifecyle Cost • Power density increases stack life in existing and new equipment Metal Plate 12000 Stack • Fleet optimization and balance of plant upgrades enhance system performance + Converter
Slide 188: Per unit Lifecycle Costs
Per unit Lifecycle Costs Operations Leverage and Lifecycle material management Breadth of service offerings enable profitable growth Product Delivery 24/7 Technical & Site Support, Monitoring & Installation Diagnostics (M&D) Density of customer fleet Operations and Labor Efficiency Commissioning War
Slide 189: Green Hydrogen at Work
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