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Giấy phép số 4978/GP-TTĐT do Sở Thông tin và Truyền thông Hà Nội cấp ngày 14 tháng 10 năm 2019 / Giấy phép SĐ, BS GP ICP số 2107/GP-TTĐT do Sở TTTT Hà Nội cấp ngày 13/7/2022.
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Plug Power investors have waited years for the company to deliver sustained profits. A new CEO and the announcement of a 275-megawatt electrolyzer project with Hy2gen could provide the catalyst the hydrogen fuel cell company needs to move toward that goal.
Plug has spent the last several years dealing with high cash burn and increasingly agitated investors. There are ongoing questions about whether the company—public since 1999—can find a sustainable path forward.
For full fiscal 2025, Plug reported just over $700 million in revenue, but still posted a $1.7 billion net loss.
Since its IPO, Plug’s stock has lost nearly 99% of its value. Over the past 12 months, however, the stock has rebounded strongly, rising 100%. As of April 7, the shares were trading at about $2.50 per share.
The 275-megawatt electrolyzer project with Hy2gen does not immediately resolve all of Plug’s financial challenges. Still, it may signal the start of a new wave of contracts that could help improve the company’s finances.
In parallel, CEO Jose Luis Crespo has been in the role for just over a month and is already emphasizing cost discipline and streamlining operations. Crespo has publicly committed to restructuring Plug, trimming operational overhead, and prioritizing projects with higher margin potential.
Profitability remains distant, but the combination of the Hy2gen collaboration and leadership focused on restructuring and execution has renewed hope among investors. The project is also viewed as a credibility boost that could support future commercial momentum.
While sustained profits are not yet in sight, the developments suggest profits may be more attainable than they have appeared in recent years.

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