TheBiG schreef op 25 februari 2021 12:51:Plug Power Reports $337 million in Gross Billings for 2020, Up 42.5% Year over Year
nnounced Multiple Partnerships and Executed Strategic Acquisitions, Establishing Global Platform as a Green Hydrogen Solutions Company
Well Positioned to Leverage Industry Leadership and Capture Meaningful Share of in the $10T Hydrogen Economy
-2020 marked a record year in gross billings, with Q4 gross billings of $96.3 million and $337 million for the full year reflecting the Company’s strong value proposition in the growing hydrogen industry
-As previously announced, reported revenue and results were negatively impacted by certain costs of $456 million recorded in the fourth quarter, the majority being non-cash charges related to the accelerated vesting of a customer’s remaining warrants. Given the expenses for this customer program have been fully expensed, the Company’s go-forward reported results should be easier to understand. This resulted in reported revenue of negative $316 million for the quarter and negative $100 million for the full year.
-Plan to make continued investment during 2021 to deliver on substantial growth opportunity in the green hydrogen economy on a global basis
-Strong balance sheet with now over $5 billion in cash to execute on its global growth strategy and objectives
-On track to deliver on recently raised 2021 and 2024 financial targets
-Added a fourth pedestal customer and selected site for gigafactory to drive scale
-Executed strategic acquisitions of United Hydrogen and Giner ELX positioning Plug Power as a fully vertically green hydrogen generation company
-Announced global joint ventures and strategic partnerships with Renault, SK Group and ACCIONAwww.streetinsider.com/dr/news.php?id=...