Slide 1: Clean, commercial energy solutions for the material handling industry
Clean, commercial energy solutions for the material handling industry. May, 2016 Copyright 2016, 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 2016 objecti
Slide 3: Why Plug Power?
Why Plug Power? The leader in development and production of clean, commercial energy solutions for the motive power industries. $ $ $ Gross Market Sustainable Multiple Revenues Profitability Margins Leader Advantage Growth Paths Turn-key >300% Disciplined With over Growing list solution Revenue fina
Slide 4: About Plug Power
About Plug Power Plug Power Background Public since 1999 (NASDAQ: PLUG) World-class manufacturing in Latham, NY 18+ years of R&D on hydrogen, fuel cells, >425 employees (and growing) products and systems 80+ products addressing the North Over 180 patents worldwide American and European markets World
Slide 5: Complete Motive Power Solution
Complete Motive Power Solution Full solution drives ROI and customer adoption 10,000+ units in the field Fuel cell solution for Drop-in replacement Class 1/2/3 Forklifts 100M+ operating hours 26 installed sites Complete Hydrogen >90 hydrogen dispensers infrastructure 6,500 fills/day, 1.6M+ total 98+
Slide 6: Why Customers Choose Plug Power
Why Customers Choose Plug Power Lead Acid Batteries 250 Class I, II and III Fork Trucks 250 Class I, II and III Fork Trucks 750 Lead Acid Batteries 250 GenDrive Units 15-20 minute battery change per shift 2-3 minutes to refuel per shift “Voltage Droop” reduces truck performance Constant power increa
Slide 7: Loyal “Blue Chip” Customer Base
Loyal “Blue Chip” Customer Base 65+ Sites (25 GenKey) 10,000+ Units 100M+ Operating Hours 6,500+ GenFuel Fills/Day 1.6M Tonnes H2 Dispensed 7
Slide 8: Growth – Served Market Opportunity
Growth – Served Market Opportunity >400k Tons H2 $500 Millions of Available Forklifts GenFuel GenDrive in Servable Market in North Service ~2% 10,000 America is $4.5 Billion $900 Europe doubles the opportunity $3,100 Total Addressable $900 Market >$30 Billion >10,000 Sites GenKey in 25 Product H2 In
Slide 9: Revenue
Revenue $45.0 Quarterly Revenue $42.0 GAAP Adjusted (1) $40.0 $38.4 $35.0 $30.1 $30.0 $31.4 $25.0 $24.0 $20.0 $21.5 $19.9 $15.0 $17.3 $15.3 $10.0 $9.4 $5.0 $5.6 $- Q1 '14 Q2 '14 Q3 '14 Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 (1) Adjusted results assume realization of total equipment revenues and p
Slide 10: Gross Margin
Gross Margin 20.0% Quarterly Gross Margin GAAP Adjusted (1) 12.5% 15.0% 10.0% 10.0% 5.0% 6.7% 0.3% 1.1% 0.0% Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 -5.0% -10.0% -15.0% Includes impact of provision for loss contracts related to -20.0% -22.3% service. -24.5% -25.0% -30.0% GenDrive (1) 13% 26% 17% 35% 36%
Slide 11: Growth Driving Profitability Growing Sales and Deployments
Growth Driving Profitability Growing Sales and Deployments Annual GenKey Installs Cumulative GenDrive Units 25 14,400 18 10,000 8 6,500 4,500 - 2013 2014 2015 2016E 2013 2014 2015 2016E Bookings (Millions) $275 $205 $150 $75 2013 2014 2015E 2016E 11
Slide 12: Growth – Current Market
Growth – Current Market Geography Existing Customers Data Significant uninstalled IoT capabilities for Leverages existing opportunity GenDrive and expertise GenFuel Start with Europe Top 7 customers represent >200 Enhance existing Asia, selectively sites and create new products valuable Then ROW Foc
Slide 13: Growth – Material Handling
Growth – Material Handling AGV Fuel Adjacent Markets Existing GenDrive Hydrogen as a Airport Tractors systems on larger Business Other GSE units Commercial (Loaders, People Leverage low Dispensing Movers, power experience Generators, Etc.) Distributed H2 on smaller units Generation Data 13
Slide 14: Growth – New Markets
Growth – New Markets Range Extenders Platforms Automotive Industrial and FedEx/DOE Use cases and Commercial Program Starting lifecycles similar to Vehicles 2016 GenDrive Fuel Cell and Leverage for Other Product and Hybrid Systems Commercial and Systems Design Design Industrial Vehicle Fueling Applic
Slide 15: Why Plug Power?
Why Plug Power? The leader in development and production of clean, commercial energy solutions for the motive power industries. $ $ $ Gross Market Sustainable Multiple Revenues Profitability Margins Leader Advantage Growth Paths Turn-key >300% Disciplined With over Growing list solution Revenue fina
Slide 16: Corporate Headquarters
Corporate Headquarters 968 Albany Shaker Road, Latham, NY 12110 West Coast 15913 E. Euclid Avenue, Spokane, WA 99216 plugpower.com