Plug Power Issues Corporate ESG Report for the Year 2020
June 25 2021 - 7:00AM
Plug Power Inc. (NASDAQ:PLUG), a leading provider of turnkey
hydrogen solutions for the global green hydrogen economy, today
released its 2020 Corporate Environmental, Social and Governance
(ESG) report. The ESG report focuses on data available in the year
2020 and details Plug Power’s efforts to link environmental and
social impacts to its business strategy to lead the global green
hydrogen economy. The report’s focus includes Plug Power’s
GenDrive, GenFuel, GenSure and ProGen product lines, and the
operation of its Latham, NY, Clifton Park, NY, Rochester, NY,
Spokane, WA, Romeoville, Il, Dayton, OH and Montreal, Canada
offices.
The company conducted a materiality assessment
which will guide our focus in the coming years, and will influence
our approach to managing ESG expectations internally, as well as
with suppliers and partners.
Plug Power’s dynamic work in 2020 has laid the
building blocks to position the company to become an industry
leader in the $10T hydrogen economy. Key results from the year
include:
- Green hydrogen generation activity with
renewable energy partners to generate a combined 40+ tons per day
with room to expand
- 76,944 kilowatt hours of electricity generated
to power the Clifton Park facility using Plug Power fuel cell
systems
- 39.1 million hydrogen fills enabled with Plug
Power’s dispensing infrastructure
- $42,000 raised by Plug Power employees to
support local charities
- 54% increase in employment of Veterans of the
U.S. Armed Services from 2019
- Executed recycling program with ELEMENT reducing landfill to
only 0.13% of product weight
“Our stance is that Plug Power will only support
activity that promotes the green hydrogen economy,” said Andy
Marsh, CEO of Plug Power. “Our focus is to do more, help more, and
be more than simply supplying the hydrogen ecosystem. We are being
proactive to grow a company as good citizens at a global
scale—addressing everything from product end-of-life to employee
diversity to maintaining responsibility for our own environmental
impact.”
Plug Power reported on the following standards:
SASB Standard for the Fuel Cell Industry, Global Reporting
Initiative Standard as well as company-specific Key Performance
Indicators. Plug Power continues to be focused on our stakeholders
and investors and working on meeting their needs.
Plug Power manages its impact for the long-term,
and understands the importance of having a sound strategy to
address climate change and support sustainable development. We
intend on issuing an annual ESG report. In order to conserve
resources and energy, Plug Power has chosen not to print this
report. It may be viewed online at the company's web site
plugpower.com, or directly at
https://www.plugpower.com/wp-content/uploads/2021/06/PlugPower_2020ESGReport_F.pdf.
About Plug Power Inc.
Plug Power is building the hydrogen economy as
the leading provider of comprehensive hydrogen fuel cell (HFC)
turnkey solutions. The Company’s innovative technology powers
electric motors with hydrogen fuel cells amid an ongoing paradigm
shift in the power, energy, and transportation industries to
address climate change and energy security, while providing
efficiency gains and meeting sustainability goals.
Plug Power created the first commercially viable
market for hydrogen fuel cell (HFC) technology. As a result, the
Company has deployed over 40,000 fuel cell systems for e-mobility,
more than anyone else in the world, and has become the largest
buyer of liquid hydrogen, having built and operated a hydrogen
highway across North America. Plug Power delivers a significant
value proposition to end-customers, including meaningful
environmental benefits, efficiency gains, fast fueling, and lower
operational costs.
Plug Power’s vertically integrated GenKey
solution ties together all critical elements to power, fuel, and
provide service to customers such as Amazon, BMW, The Southern
Company, Carrefour, and Walmart. The Company is now leveraging its
know-how, modular product architecture and foundational customers
to rapidly expand into other key markets including zero-emission
on-road vehicles, robotics, and data centers.
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 regarding its business
strategy and goals and its expectations concerning its
environmental, social and governance initiatives, and its market
positions and future operations or performance. You are cautioned
that such statements should not be read as a guarantee of future
performance or results, and will not necessarily be accurate
indications of the times that, or by which, such performance or
results will have been achieved. Such statements are subject to
risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in these
statements. For a further description of the risks and
uncertainties that could cause actual results to differ from those
expressed in these forward-looking statements, as well as risks
relating to the business of PLUG in general, see PLUG’s public
filings with the Securities and Exchange Commission, including the
“Risk Factors” section of PLUG’s Annual Report on Form 10-K for the
year ended December 31, 2020. Readers are cautioned not to place
undue reliance on these forward-looking statements. The
forward-looking statements are made as of the date hereof, and PLUG
undertakes no obligation to update such statements as a result of
new information.
Media Contact
Ian Martorana The Bulleit Group (415)
237-3681plugpowerpr@bulleitgroup.com
Plug Power (NASDAQ:PLUG)
Historical Stock Chart
From Aug 2024 to Sep 2024
Plug Power (NASDAQ:PLUG)
Historical Stock Chart
From Sep 2023 to Sep 2024