Slide 1: Business Update Conference Call
Business Update Conference Call February 24, 2017 Copyright 2017, Plug Power Inc.
Slide 2: Safe Harbor Statement
Safe Harbor Statement This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. (“PLUG”), including but not limited to statements about PLUG’s expectations
Slide 3: Our Mission
Our Mission Changing the way the world moves by developing industry-leading hydrogen fuel cell energy solutions for high growth markets around the world 3
Slide 4: Plug Power is…
Plug Power is… Leading the commercialization of hydrogen fuel cell technology Leveraging our proprietary and flexible ProGen fuel cell engine platform Expanding our market position in material handling applications Replicating success achieved in first market Delivering strong and predictable revenu
Slide 5: The Future of Mobility is Electric
The Future of Mobility is Electric The global electric vehicles market is expected to reach $334 billion by 20241 Industrial and commercial electric vehicles today represent 60% of the value of the electric vehicle market2 EV Use Cases Will… Have high utilization Require long run times Industria
Slide 6: Addressing EV Demand with Hydrogen Fuel Cells
Addressing EV Demand with Hydrogen Fuel Cells Clear Benefits Fuel Cells are Easy to Implement • Simplifies vehicle design ProGen Fuel Cell Stack • High efficiency • No emissions • Reliable performance in harsh environments • Long run times and constant use • Fast refueling/recharging • Adaptability
Slide 7: Plug Power is the Leader in Hydrogen and Fuel Cell Technology
Plug Power is the Leader in Hydrogen and Fuel Cell Technology >3x revenue 1st to create a growth since 2013 market for HFC technology 14K+ units in 80% Blue Chip the field Customer Base 12 HFC trademarks ® 70% reduction in cost profile since 2013 122MM+ 180 operating hours HFC patents 7
Slide 8: Preliminary 2016 Results
Preliminary 2016 Results Q4 2016 FY 2016 FY 2015 Preliminary (2) Preliminary (2) GAAP Revenues $32.6 million $85.9 million $103.3 million GAAP Gross Margin 9.2% 4.5% (9.6%) Achieved Metric Contract Bookings $110 million $280 million $205 million GenDrives Deployed 1,204 4,010 3,431 CFOA Breakeven ($
Slide 9: 2016 Highlights
2016 Highlights • Continued sales momentum with new and repeat customers Walmart Home Depot BMW Wegmans Colruyt* Newark Farmers Market Carrefour* FM Logistic* Young’s Market* Plus 3 others which have not yet been announced * Denotes new customers • Strong bookings momentum; deals closed in Q4 for 20
Slide 10: 2017 Guidance: Improving Operational and Financial Performance
2017 Guidance: Improving Operational and Financial Performance Metric 2017 Guidance Revenue (GAAP) Total: $130 million Shipments Total PPA GenDrive 5,600 1,800 GenFuel Sites 25 9 ProGen Mods. 100 N/A Gross Margin (GAAP) • 8% - 12% Bookings • $325 million Cash • $25-$35 million of net cash used in op
Slide 11: Cost Controls and Economies of Scale Drive Margin Expansion
Cost Controls and Economies of Scale Drive Margin Expansion Cost Reduction is the Key to Success Many factors will continue to support steady cost reduction GenDrive Unit Cost Over Time • Volumes 100% Expected − Multiyear sourcing allows us to take advantage of lower pricing associated with higher v
Slide 12: Leveraging Data and Analytics to Improve Margins and Customer Experience
Leveraging Data and Analytics to Improve Margins and Customer Experience Leverage SiteView IoT tools to improve proactive and reactive response • Short term: • Improve key metrics such as units/technician from ~60 to ~90 in next 12 months • Dedicated service and engineering resources resolve issues
Slide 13: China Represents a Massive Opportunity
China Represents a Massive Opportunity The world leader in investing in new energy technologies China New Investment in Renewable Energy ($Bn)1 • >$100B of new investment in 2015 – more than US, UK and Japan 120 combined 102.9 • Large push to combat pollution and reduce global carbon footprint; 100
Slide 14: Plug Power Will Leverage its Experience and Expertise to be a Leader in this Growing Market
Plug Power Will Leverage its Experience and Expertise to be a Leader in this Growing Market Significant progress to date • Three-way MOU signed in November: Electric Vehicle Sales (Thousands)1 • Furui is a leader in CNG and LNG infrastructure; collaborate on H2 500 infrastructure and supply 450 • A
Slide 15: A High Growth Technology Company with a Vision for the Future of Mobility
A High Growth Technology Company with a Vision for the Future of Mobility • We are poised to expanded into industrial vehicle applications • We will continue our success: • >3x revenue growth since 2013 • 14k+ units in the field with 122mm operating hours • Reduced costs and improved performance and
Slide 16: Changing the way the world moves by developing industry-leading hydrogen fuel cell energy solutions
Changing the way the world moves by developing industry-leading hydrogen fuel cell energy solutions for high growth markets around the world 16
Slide 17: Corporate Headquarters
Corporate Headquarters 968 Albany Shaker Road, Latham, NY 12110 West Coast 15913 E. Euclid Avenue, Spokane, WA 99216 plugpower.com