secwatch.observer — SEC 8-K summary
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Issuer:     PLUG POWER INC (PLUG)
CIK:        0001093691
Form:       8-K
Filed at:   2023-03-01T23:59:59+00:00
Accession:  0001104659-23-027333
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Plug Power reports $701M revenue in 2022, reaffirms 2023 guidance of $1.4B revenue and 10% gross margin
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- Revenue $701.4M in 2022 ($220.7M Q4), up 40% YoY; gross margin improved to (28)% from (34)%.
- Reaffirms 2023 guidance: $1.4B revenue, 10% gross margin; long-term targets $5B/30% by 2026, $20B/35% by 2030.
- Green hydrogen plant commissioning: Georgia on track for liquid H2 by end of March; Olin JV targeting production by Q3 2023.
- Electrolyzer backlog 2GW, opportunity funnel >$30B; stationary fuel cell deployments of 30MW planned in 2023.
- Partnership with Johnson Matthey for largest CCM manufacturing facility (5GW scaling to 10GW) in US, production likely in 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1093691/000110465923027333/0001104659-23-027333-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1093691/000110465923027333/tm238047d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-027333

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